Key Tax & Policy Developments Shaping India’s Economic Roadmap

The Finance Minister presented the Union Budget 2026–27 at a defining juncture for India’s economy, reinforcing the Government’s commitment to structural reforms, fiscal consolidation, and sustained economic growth. Anchored in macroeconomic stability, the Budget places strong emphasis on manufacturing, services, ease of doing business, and tax certainty.

Shardul Amarchand Mangaldas & Co. presents Budget Insights 2026, a comprehensive analysis of the key tax and policy proposals introduced in the Finance Bill 2026. The report examines the implications of changes across direct and indirect taxes, customs, GST, transfer pricing, international taxation, and sector-specific incentives, with a focus on their impact on businesses and investors.

Key Highlights Covered in the Report

• Strategic thrust on manufacturing, including India Semiconductor Mission 2.0 and electronics ecosystem incentives
• Significant reforms aimed at reduction of litigation, decriminalisation, and rationalisation of penalty and prosecution provisions
• ⁠⁠Major changes to MAT, reassessment procedures, return filings, and dispute resolution mechanisms
• ⁠⁠Targeted tax incentives for data centres, contract manufacturing, IFSC units, and global capability centres
• ⁠⁠Customs and GST reforms to enhance trade facilitation and ease of doing business
• ⁠⁠Policy measures supporting services exports, infrastructure, clean energy, healthcare, and strategic sectors

Why This Matters

The Union Budget 2026 signals a calibrated shift towards a more predictable, transparent, and investment-friendly tax regime. Our analysis provides practical insights to help businesses, investors, and stakeholders navigate the evolving regulatory and tax landscape.

Download the full Budget Insights 2026 report for a detailed section-wise analysis and expert commentary.

Disclaimer

This is intended for general information purposes only. The views and opinions expressed in this article are those of the author/authors and does not necessarily reflect the views of the firm.