Goa | February 1, 2026:
The Goa Chamber of Commerce and Industry (GCCI) has welcomed the Union Budget 2026–27, terming it a major boost to India’s economy and a positive step towards sustainable and inclusive growth.
GCCI organised a live viewing of the Union Budget presented by the Hon’ble Union Finance Minister, followed by a press conference where leading representatives from Goa’s business and industrial community shared their insights on the Budget’s implications for the state and the nation.
Welcoming the Budget, Mrs. Pratima Dhond, President, GCCI, said that the Budget is growth-oriented and addresses the aspirations of the common people while reinforcing the vision of Sabka Saath, Sabka Vikas. She highlighted targeted interventions across six key areas, including rejuvenation of legacy industries, creation of champion MSMEs, infrastructure development, long-term economic security, city economic regions, and industry-led research and training centres to build a skilled workforce. She also noted that initiatives such as Bharat Vistar, a multilingual AI tool integrating the agri-stack, and the establishment of She Marts will empower women entrepreneurs.
Mr. Yatin Kakodkar, Vice-President, GCCI, described the Budget as progressive and forward-looking, reflecting India’s readiness for the next phase of growth. He appreciated the Government’s success in maintaining the fiscal deficit at around 4% and welcomed the focus on infrastructure, SMEs, tourism, waterways, east–west corridors, and medical tourism, all of which are expected to directly benefit Goa’s economy.
Dr. Sangam Kurade, Vice-President, GCCI, observed that the projected growth of 7.4% is a result of earlier policy announcements. He stated that proposals related to tourism, youth skilling, hospitality institutes, upskilling of manpower, and promotion of the orange economy will significantly benefit Goa.
Mr. Manguirish Pai Raikar, Past President, GCCI, noted that the Budget builds upon previous reforms and contributes meaningfully to the vision of Viksit Bharat 2047. He emphasised that Goa must effectively leverage opportunities arising from tourism and youth-focused schemes to scale its economy further.
Representing the taxation and financial services perspective, Mr. Raghunath Bhanap, Secretary, GCCI and Chairman, Taxation & Financial Services Committee, highlighted several reform-oriented measures, including reduced import dependency, strengthened MSMEs, mandatory PSU procurement through TReDS-registered suppliers, integration of GeM with TReDS, reduced TCS on foreign tours, PAN replacing TAN in several processes, and treating receivables as assets for improved credit flow. He stressed that timely implementation will be key.
Mr. Vishwabhan Bhopte welcomed simplification measures under the Income Tax framework, including centralised filing of Form 15H, revised filing timelines, and simplified return forms, stating that these will reduce compliance burden for taxpayers.
Mr. Shripad Parab, President, AGTPA, observed that the Budget aligns with projected growth estimates and fiscal deficit targets. He welcomed reduced TCS, simplified income tax procedures, new schemes for small taxpayers, and the ambitious GST revenue target.
Overall, GCCI leaders expressed optimism that the Union Budget 2026–27 will drive economic growth, promote innovation, strengthen the business ecosystem, and positively impact Goa and the nation.
