Lucknow: The Uttar Pradesh Yuva Vyapar Mandal has expressed overall satisfaction with the Union Budget presented today, highlighting ten major announcements that it believes will strengthen economic growth and support India’s transition toward a New India. However, the organisation also noted that traders had expected additional relief measures, particularly for retailers, which were not addressed in the budget.
Reacting to the budget, Vikas Jain, State President of Uttar Pradesh Yuva Vyapar Mandal, said that the budget reflects the vision of a New India and lays a strong foundation for long-term development. At the same time, he acknowledged that the trading community had hoped for more concessions, especially targeted announcements for retailers, whose concerns remain unaddressed.
Budget Reflects Vision of New India
Vikas Jain stated that the budget signals continuity in reforms and growth-oriented policymaking. According to him, while traders were expecting further relaxations and sector-specific support, the overall direction of the budget inspires confidence in India’s economic future. He said that the emphasis on infrastructure, technology, MSMEs, and social development demonstrates the government’s intent to accelerate growth across sectors.
Record Capital Expenditure Boost
One of the key points welcomed by the organisation is the government’s decision to raise capital expenditure. The budget has increased capital expenditure (Capex) to a record ₹12.2 lakh crore, which is expected to give a strong push to infrastructure development, employment generation, and overall economic activity. The trade body believes this will have a positive multiplier effect on industries and markets.
Major Announcements for Railways
The announcement of seven new high-speed railway corridors, including the Delhi–Varanasi corridor, has been described as a significant step toward improving connectivity. According to the organisation, these projects will boost regional development, enhance trade logistics, and open new business opportunities along these corridors.
Simplification of Tax and ITR Process
The budget’s focus on simplifying the tax system has also been welcomed. The Income Tax Return (ITR) filing process has been made easier, and taxpayers will now be allowed to update their returns even after reassessment proceedings begin by paying an additional 10 percent tax. The organisation said this move will reduce litigation and provide greater flexibility to taxpayers.
Semiconductor Mission 2.0 Launched
The launch of India Semiconductor Mission 2.0 (ISM 2.0) with an allocation of ₹40,000 crore has been identified as a major strategic move. According to the trade body, this initiative will strengthen domestic manufacturing, reduce import dependence, and position India as a global hub for semiconductor production.
Relief Measures for MSMEs
For the MSME sector, the budget has announced a ₹10,000 crore SME Growth Fund and a ₹2,000 crore Atmanirbhar Bharat Fund for micro enterprises. Vikas Jain said these measures will improve access to finance for small businesses and support entrepreneurship, which is crucial for employment generation and economic resilience.
Focus on Education and Employment
The formation of a high-powered committee titled “Education to Employment and Enterprise” has also been welcomed. This committee will focus on providing skill training to youth and aligning education with employment and entrepreneurship opportunities. The organisation believes this step will help bridge the skill gap and improve employability.
Healthcare Sector Push
In the healthcare sector, the announcement of three new Ayurvedic AIIMS across the country has been appreciated. Additionally, the proposal to make 17 cancer medicines more affordable has been described as a people-centric decision that will reduce the financial burden on patients and families.
Fiscal Deficit Target Set
The budget has set the fiscal deficit target at 4.3 percent for FY 2026–27, reflecting the government’s commitment to fiscal discipline while continuing growth-oriented spending. The trade body said maintaining this balance is important for economic stability.
Rare Earth Corridors to Reduce Import Dependence
The proposal to develop Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu has been highlighted as a strategic initiative. According to the organisation, this move will reduce India’s dependence on China for rare earth imports and strengthen domestic supply chains.
Women Empowerment Initiative
As part of women empowerment, the budget proposes to establish at least one girls’ hostel in every district. The organisation said this step will support education, safety, and mobility of girls, especially in smaller towns and rural areas.
Traders Seek More Relief
While welcoming these ten major announcements, Vikas Jain reiterated that traders, particularly retailers, were expecting some specific relief measures that did not find place in the budget. He said the absence of targeted announcements for the retail sector could create challenges on the ground.
Overall, Uttar Pradesh Yuva Vyapar Mandal said that despite certain unmet expectations, the budget reflects a growth-oriented and forward-looking approach and provides a strong base for India’s economic progress in the coming years.
