Patna: The Union Budget 2026-27 drew mixed reactions from traders, commerce and industry leaders in Bihar, reflecting both appreciation for its national vision and disappointment over the lack of targeted support for the state.President of the Bihar Chamber of Commerce and Industries (BCCI) P K Aggarwal highlighted the Budget’s strong focus on MSMEs and youth empowerment, noting substantial efforts to build skills, expand employment avenues, and position them as key drivers of the country’s economic and social advancement.He praised announcements such as the establishment of a ship repair ecosystem for inland waterways in Varanasi and Patna to simplify vessel maintenance, the plan to build a women’s hostel in every district, promotion of the Khelo India Mission, reductions in prices for critical disease medicines and solar energy products, cuts in TCS rates including international travel, a five-year income tax exemption for non-residents to encourage toll construction, personal income exemptions in select cases, a six-month disclosure scheme for foreign-held property taxes, the creation of three new Ayurveda AIIMS and five regional medical centres, a Rs 10,000 crore SME Growth Fund, mandatory TReDS settlement platforms for improved MSME liquidity, and a push for AI applications in agriculture.Aggarwal also hailed positive tax simplifications effective from April 1, 2026, including allowing small taxpayers to submit Form 15G/H without certificates for TDS non-deduction, replacing criminal charges with penalties for improper ledger maintenance, and exempting criminal proceedings for undeclared assets or income up to Rs 24 lakh, describing these as encouraging signals for both taxpayers and businesses.In contrast, the Bihar Industries Association (BIA) offered a more measured and ultimately disappointed assessment. President Ram Lal Khetan acknowledged that the Union Budget promotes long-term growth, stimulates investment, and bolsters infrastructure through measures such as allocating around Rs 12.5 lakh crore for capital expenditure to enhance production capacity, generate jobs, and strengthen the economic foundations nationwide.He noted accelerated infrastructure initiatives in roads, railways, water supply and electricity to improve rural-urban connectivity and invigorate economic activity, alongside approvals for seven high-speed rail projects and new national waterway developments to strengthen logistics, lower transportation costs, and energise trade and industry.Khetan added that Bihar continues to lag on most development indicators and requires special, additional backing to catch up as India aims for developed nation status by 2047. “The absence of any dedicated special package or significant new projects for Bihar left many in the state disheartened, as expectations for concrete steps to spur economic and industrial progress went unmet,” he said.BIA vice-president Purushottam Kumar Agarwal reinforced the positives around heightened capital expenditure and its ripple effects on infrastructure and growth while second vice-president Dev Prakash Singh emphasised the Union Budget’s focus on small and medium enterprises as a direct catalyst for job creation.
