If the budget was designed to avoid theatrics, the markets supplied the drama anyway. Sanjay Mehta, deputy director general of the IMC Chamber of Commerce, said the Budget was “very positive and forward-looking”. At the heart of the budget is manufacturing which makes up less than 20 per cent of the economy. In a key move, the government proposed a longterm tax holiday until 2047 for foreign companies that provide cloud services globally using data centre infrastructure in India. The objective, they said, was long-term market stability.

Source: The Telegraph February 01, 2026 15:51 UTC