VIJAYAWADA: CII Vijayawada Zone Chairperson V Nagalakshmi welcomed the budget.
Addressing the Post Budget Analysis session conducted by CII Vijayawada Zone on Thursday, she stated the Union Budget 2026-27 is a forward-looking and confidence-building Budget that reflects the government’s strong commitment to next generation reforms, sustaining high economic growth while maintaining macroeconomic stability.
At a time of global uncertainty, the Budget sends a reassuring signal of continuity, credibility, confidence and long-term vision for India’s development journey, she added..
B Lakshmi Narayana, Additional Commissioner, CGST said the budget has a clear focus on encouraging compliance while bringing administrative ease to individual taxpayers.
There is no change in individual tax rates as such, but steps such as the reduction in TCS rates on specified foreign remittances, extension of the due date to file revised tax returns after payment of a nominal fee, and a simplified TDS deposit mechanism on the sale of immovable property by non-residents are welcome steps.
S Narendra Kumar, Vice Chairman, CII Andhra Pradesh, said that the steps to provide greater tax certainty, faster dispute resolution and an enabling regulatory framework for the IT and services sector will support continued growth of Global Capability Centres and high-value service exports.
The tax holiday for foreign companies providing cloud services using data centres located in India is a significant step that will catalyse investments in data centres, digital infrastructure and cloud ecosystems, further strengthening India’s digital economy.