Guwahati, Feb 1 : The Federation of Industry and Commerce of the North Eastern Region (FINER) on Sunday expressed satisfaction with the Union Budget 2026-27, terming it a well-balanced and growth-oriented budget that addresses the needs of industry while maintaining fiscal discipline.

The FINER, the key industrial body of the Northeast region, welcomed the governmentâ??s emphasis on reform over rhetoric and said the fiscal consolidation glide path has been maintained as targeted.

It particularly appreciated the balancing of fiscal prudence with the highest-ever capital expenditure of Rs 12.2 lakh crore, noting that this would provide a strong boost to infrastructure creation, investment and employment generation.

The industry body lauded the budgetâ??s strong focus on MSMEs, highlighting initiatives such as the creation of Champion SMEs and the proposed Rs 10,000 crore SME growth fund, which are expected to improve access to finance and further strengthen the backbone of the economy.

The FINER, in a statement, also welcomed the thrust on manufacturing and technology, citing initiatives such as the establishment of three dedicated Chemical Parks, the expansion of the India Semiconductor Mission (ISM 2.0), the setting up of Hi-Tech Tool Rooms, and duty exemptions for lithium-ion cell manufacturing.

These measures, it said, will enhance domestic manufacturing capacity and promote import substitution.

The federation appreciated continued support for textiles, handloom, handicrafts and khadi, along with targeted skilling initiatives such as Samarth 2.0, which are expected to boost employment, particularly in rural and semi-urban areas.

Measures aimed at strengthening tourism, urban infrastructure, high-speed rail corridors, and education-to-employment linkages were also welcomed as steps towards balanced regional development.

From a macroeconomic perspective, FINER said the budget reflects a firm commitment to fiscal consolidation, a declining debt-to-GDP ratio, and improved compliance through tax reforms, including rationalisation of TCS rates and extension of timelines for income tax return revisions.

Overall, FINER said the Union Budget 2026-27 provides a positive and enabling policy environment for industries across sectors and regions, including the Northeastern Region, and will contribute significantly to inclusive and sustainable economic growth.

/IANS