State Bank of India (SBI) Chairman Challa Sreenivasulu Setty has praised the Union Budget 2026–27, calling it an important step towards making India a global centre for innovation and advanced manufacturing. He said the Budget will help the country become more competitive at the international level and strengthen its position in the global economy.
Reacting to the Budget presented in the Lok Sabha, Mr Setty said it ensures policy continuity and tax stability, which are important for businesses and investors. According to him, predictable policies help companies plan better and encourage long-term investments.
He also pointed out that the Budget strikes a careful balance between rural and urban development. It supports both traditional sectors and new-age industries, ensuring that growth benefits different parts of the economy. He said this balanced approach will help create inclusive and sustainable development.
The SBI Chairman noted that the government is focusing on high-value products such as sandalwood, cashews, and fisheries. These sectors have strong export potential and can bring more income to farmers, small producers, and local communities.
He added that special attention to services, tourism, the orange economy (creative and cultural industries), and education is both timely and necessary. These areas can generate employment and support economic growth alongside infrastructure development and better connectivity.
Overall, Mr Setty said the Budget lays a strong foundation for growth by encouraging manufacturing, improving services, and boosting investment. He expressed confidence that these measures will help India move faster towards becoming a developed and globally competitive economy.