Commenting on the Union Budget 2026, Mr. Gaurav Pandey, Co-Chairman, FICCI Committee on Urban Development and Real Estate, and Managing Director & CEO of Godrej Properties, said the budget continues a strong focus on infrastructure-led growth, marked by a record capital expenditure of INR 12.2 lakh crore.
He noted that the sustained emphasis on urban development, connectivity, and city-led growth reflects the government’s long-term vision for economic expansion. Measures such as the Infrastructure Risk Guarantee Fund, expansion of transport corridors, and support for city economic regions are expected to have a positive impact on real estate demand over the medium term. Mr. Pandey further stated that the government’s commitment to fiscal discipline and long-term growth creates a stable macroeconomic foundation, strengthening confidence across sectors and supporting sustained economic expansion.
Welcoming the Union Budget 2026–27, Surendra Prasad, Hospital Director, Manipal Hospital Goa, has termed the government’s proposal to establish five regional medical hubs across the country as a transformative step for India’s healthcare ecosystem.
He said the creation of integrated medical hubs—bringing together advanced hospitals, diagnostics, rehabilitation, and wellness facilities—will help decentralise quality healthcare services and reduce the need for patients to travel long distances for specialised treatment.
“This approach ensures that patients receive timely, accessible, and high-quality care closer to home. Strengthening regional healthcare capacity is critical to improving overall health outcomes and reducing pressure on metropolitan hospitals,” Prasad stated.
Highlighting the Goa perspective, he noted that the announcement presents a significant opportunity for the state. “Goa already enjoys a strong reputation in tourism and wellness. Strengthening healthcare infrastructure through regional medical hubs can position Goa as a preferred destination for medical and wellness tourism, benefiting both residents and visitors,” he added.
Prasad also welcomed the Budget’s emphasis on Public-Private Partnership (PPP) models and national insurance coverage, stating that these measures will accelerate infrastructure development while ensuring affordability and accessibility.
“The focus on collaboration between the public and private sectors, combined with expanded insurance coverage, brings us closer to achieving equitable, timely, and quality healthcare for all,” he concluded.
The Goa Chamber of Commerce & Industry has submitted its comprehensive Pre-Budget Memorandum for the Union Budget 2026–27, putting forward a wide range of recommendations to strengthen India’s tax and regulatory landscape. The Chamber emphasises that a simpler, more predictable and business-friendly system is essential for improving ease of doing business and sustaining long-term economic growth. The memorandum highlights the increasing complexity of TDS and TCS provisions, noting that over fifty withholding categories with varying thresholds and rates have created a heavy compliance burden for businesses and individuals. GCCI suggests consolidation of these provisions into fewer, standardised categories, coupled with a PAN-based reporting model, higher thresholds and lower deduction rates. It also proposes the introduction of a digital Tax Wallet to make payments and adjustments easier, much like the existing GST cash ledger.
The Chamber also stresses the need to incentivise compliant taxpayers. By prioritising faster processing of returns and refunds for those with strong compliance histories, and by reducing automated notices for such taxpayers, the government can reinforce a culture of voluntary compliance. GCCI also calls for renewed support for innovation, including reinstating the 200% weighted deduction for in-house R&D, especially vital for pharmaceutical, biotech and deep-tech industries where risk and gestation periods are high. To further boost investment and employment, particularly in Goa, GCCI urges the continuation of the 15% concessional corporate tax rate for new manufacturing units, extending eligibility until 2030.
Recognising the need for simpler tax return processes, GCCI recommends a fully integrated filing portal, dynamic ITR forms that activate relevant sections based on taxpayer inputs, extensive pre-filling using AIS/TIS data, and reduced duplication of information already submitted to agencies like GST or MCA. It also suggests creating dedicated annexures for special cases, including returns involving Goan residents governed by Section 10 (formerly Section 5A) under the Portuguese Civil Code, foreign asset disclosures, and corporate restructurings. The Chamber proposes that individual taxpayers should only fall under the 30% tax bracket beyond an annual income of ₹25 lakh and advocates for rationalising cesses and surcharges to create a clean, transparent rate structure. It also recommends extending Section 80TTA to include all types of deposit interest and raising the limit to ₹25,000, as well as allowing deductions for donations even under the new tax regime.
MSME reforms form a significant part of the memorandum, including the introduction of a Company Law and LLP Settlement Scheme for 2025, flexibility in presumptive taxation, presumptive options for LLPs, tax neutrality for LLP reorganisations and more practical deadlines for filing returns. GCCI stresses that the current ITR due dates for non-audit cases create challenges due to late population of TDS and SFT data, and therefore recommends fixing 31 August as the final deadline. It also calls for allowing carry-forward of losses even in belated or updated returns, reducing additional tax on updated returns and extending the filing window to all permissible reassessment years.
Addressing litigative issues, GCCI highlights problems such as delays in refund issuance for AY 2025–26, lack of clarity around CSR deductions and inconsistent treatment of employees’ PF/ESIC contributions. It appeals for statutory timelines for CIT(A) decisions, clearer internal SOPs for refund scrutiny, parity in interest computation on refunds and payments, and amendments to ensure interest on delayed TDS deposits is calculated only for the actual period of delay. For co-operative societies, GCCI urges CBDT to issue a circular clarifying that interest earned on deposits with co-operative banks qualifies for deduction under Section 80P(2)(d), helping resolve long-standing disputes and preventing unnecessary litigation.
Through these recommendations, GCCI aims to strengthen investor confidence, reduce administrative friction, support innovation, and boost economic activity across sectors, especially MSMEs, manufacturing and high-value industries. The memorandum reflects the Chamber’s vision for a more transparent, efficient and growth-oriented policy environment as India prepares for the Union Budget 2026–27.
