With the Union Budget around the corner, Biocon Executive Chairperson Kiran Mazumdar-Shaw on Saturday voiced her anticipation, framing her expectations with a clear call for research-driven investments. “Keenly awaiting FM Sitharaman’s Budget address. Hope research-linked incentives find a mention. We need budgetary allocation for mission mode AI, quantum cell, gene therapy, synthetic biology, and smart medtech,” Mazumdar-Shaw wrote, underscoring sectors she believes are critical for India’s next wave of growth.
Her remarks come as Finance Minister Nirmala Sitharaman set to present her record-setting eighth consecutive Budget. This Budget carries heightened expectations amid economic headwinds marked by high prices and stagnant wage growth, particularly affecting the middle class. A potential tweak in income tax rates or slabs is widely anticipated, aimed at easing the financial strain on households.
Analysts predict the Budget will strike a balance between boosting consumption and maintaining fiscal discipline. While there’s strong hope for relief measures targeted at the lower middle class — especially after Prime Minister Narendra Modi’s recent comments invoking the goddess of wealth to uplift the poor—there’s also focus on structural reforms. Experts foresee tax rationalisation, an export push, and better implementation of capital spending plans as key pillars of the Budget.
Mazumdar-Shaw’s emphasis on mission-mode allocations for sectors like artificial intelligence, quantum technologies, gene therapy, and synthetic biology aligns with broader industry expectations for enhanced research and development support. The government is also expected to expand production-linked incentives, increase allocations for welfare schemes, and continue infrastructure upgrades.Â
As fiscal consolidation remains a priority, with a projected deficit target of 4.5% of GDP for FY26, the Budget will likely walk a tightrope—stimulating growth while keeping fiscal prudence intact. Whether Mazumdar-Shaw’s hopes for research-linked incentives materialize will be closely watched by the scientific and business communities alike.
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