Rajasthan Industry Leaders Present Budget Wishlist Ahead of February 1 Presentation
As the nation awaits the Union Budget scheduled for presentation on February 1, prominent industry organizations from Rajasthan have articulated a comprehensive set of demands aimed at transforming India's economic landscape. These proposals emphasize regulatory simplification, export enhancement, and technological preparedness to navigate global uncertainties.
Key Recommendations from Industry Associations
The Confederation of Indian Industry (CII) Rajasthan and the Federation of Rajasthan Trade and Industry (FORTI) have submitted detailed memorandums outlining their expectations from the Union Budget 2026–27. Both bodies stress the urgent need to convert policy intentions into actionable, time-bound execution frameworks.
Sanjay Agarwal, Chairman of CII Rajasthan, highlighted three critical areas requiring immediate attention: regulatory reforms, technology readiness, and manufacturing resilience. His proposals include innovative mechanisms to incentivize states to utilize the National Single Window System (NSWS) exclusively for approvals, complemented by real-time performance rankings to ensure accountability.
Technology and Export-Focused Initiatives
CII Rajasthan has advocated for the formulation of a national policy on artificial intelligence to harness emerging technologies effectively. Additionally, the organization calls for a unified cyber risk management policy to safeguard digital infrastructure and a comprehensive revamp of Production Linked Incentive (PLI) schemes to encompass labor-intensive sectors and Micro, Small, and Medium Enterprises (MSMEs).
On the export front, CII proposes establishing a single trade promotion body with overseas offices to facilitate branding and market access for Indian products globally. This initiative aims to streamline export processes and enhance India's international trade footprint.
Strategic Focus on African Markets
During pre-Budget consultations, Suresh Agarwal, President of FORTI, emphasized Africa's strategic importance for Indian industry. Citing the continent's robust 20–30 year growth outlook, he urged the government to introduce Africa-focused export promotion packages, tax credits, and structured government-to-government cooperation mechanisms.
"Africa represents a pivotal market for Indian enterprises. The Budget should incorporate targeted measures to assist MSMEs in scaling their presence across African nations," Agarwal stated. FORTI has already facilitated several Rajasthan-based MSMEs in establishing businesses in various African countries, underscoring the region's potential.
Comprehensive GST Reforms Proposed
FORTI has outlined several Goods and Services Tax (GST) reforms to improve the ease of doing business. Key recommendations include:
- Shifting Input Tax Credit (ITC) matching from monthly to quarterly cycles
- Raising the service tax exemption limit to ₹40 lakh
- Eliminating blocked credit under Section 17(5) of the GST Act
- Allowing full input tax credit on business expansion expenses
The organization also proposes increasing the GST composition scheme limit to ₹3–5 crore to alleviate compliance burdens on MSMEs. Other demands feature a GST amnesty scheme to resolve pending disputes, minimum GST rates on recycling and carbon capture initiatives to promote sustainability, a uniform 5% GST on renewable energy and electric vehicle charging infrastructure, and a centralized single-window registration system for service providers and pan-India businesses.
These collective proposals from Rajasthan's industry leaders reflect a concerted effort to position Indian manufacturing and exports for sustained growth in an increasingly competitive global economy. The recommendations underscore the critical role of policy interventions in fostering innovation, simplifying compliance, and unlocking new market opportunities.
