Uday Kotak Praises Budget 2026 for Real Economy

Uday Kotak, the billionaire banker and founder of Kotak Mahindra Bank, has expressed strong support for Finance Minister Nirmala Sitharaman's Budget 2026. He described it as a "budget for the real economy," emphasizing its potential to address the pressing needs of India's economy as the country aims for significant growth by 2047.

The budget aims to fulfill three major responsibilities to foster development and economic stability, focusing on both consumer interests and broader economic reforms. The government's intent to promote a developed India is evident in its strategic allocations and policy changes.

Social media users have reacted to Kotak's praise, with many appreciating his optimistic view of the budget. However, some critics argue that the budget primarily caters to the wealthy elite, raising concerns about inclusivity and fairness in economic policies. This debate reflects ongoing tensions regarding wealth distribution in India.

On the consumer side, the Budget has made adjustments to import duties on various essential goods. This move is expected to lower prices for critical items, including components for aircraft, microwave ovens, and 17 essential drugs, such as those used in cancer treatment. Additionally, selected medicines for rare diseases and personal-use imports will also see reduced costs.

Moreover, the budget aims to support India's burgeoning tech sector. By revising duties on smartphones and tablets manufactured in India, the government is encouraging local production, which could enhance job creation and economic growth.

Overall, while Uday Kotak's endorsement of the budget highlights its positive aspects, the reactions from the public indicate a need for continued dialogue about making economic policies more inclusive. As India strives towards its vision for 2047, balancing the interests of various economic segments will be crucial for sustainable growth.