Focus on structural levers of farm income growth, support to MSMEs to sustain consumption tailwinds

Shopper product corporations stated that the Union Price range’s emphasis on sustained public investments, progress of farm incomes and enhanced support to MSMEs, focuses on structural levers to enhance consumption relatively than any short-term populist measures.

Saugata Gupta, MD & CEO, Marico Ltd stated the funds has laid out a transparent focus on sustained public funding, manufacturing scale-up, employment technology and monetary consolidation, which is a decisive shift in the direction of people-first, consumption-led progress. “The continued emphasis on enhancing agricultural incomes via larger productiveness and worth addition is structurally constructive for rural and semi-urban demand, creating sustained tailwinds for consumption,” he added.

Naveen Malpani, Accomplice , Shopper and Retail Business Chief, Grant Thornton Bharat identified that the emphasis on bettering fairness and liquidity entry for MSMEs is probably going to drive incremental investments in Tier II and Tier III cities, which in flip can support a gradual pickup in client demand volumes. “That is significantly related for mass and mid-priced client classes, the place spending is carefully linked to income visibility. Over time, this shift may also help make consumption progress much less metro-centric and extra broad-based,” he added.

Mohit Malhotra, CEO, Dabur India identified this was not a funds pushed by “short-term populism” however one which centered on continuity, institution-building and resilience. He added that sharper focus on tier-2 and tier-3 cities to broaden India’ financial footprint will assist drive deeper penetration of branded client merchandise by bettering entry, logistics effectivity and income resilience throughout Bharat.

“Union Price range 2026–27 just isn’t designed to stimulate consumption within the brief time period. As an alternative, it focuses on shaping the working setting for retail via fiscal consolidation, infrastructure funding, MSME enablement, skilling, and regional progress. For the retail sector, its impression might be gradual and uneven, pushed extra by enhancements in provide chains, workforce readiness, and rural and non-metro demand than by direct coverage support,” stated Kumar Rajagopalan, CEO, Retailers Affiliation of India (RAI).

Revealed on February 1, 2026