Haryana Budget 202627: Major Boost For Industry, Msmes

(MENAFN- KNN India) Chandigarh, Mar 3 (KNN) Haryana Chief Minister Nayab Singh Saini has proposed an allocation of Rs 1,950.92 crore for the Department of Industry and Commerce in the 2026–27 Budget, marking a 46.93 percent increase over last year's allocation of Rs 1,327.76 crore.

Rs 500 Crore 'Saksham' Fund for Old Industrial Areas

In a major relief for industrialists, the Chief Minister announced a special Rs 500 crore fund under the 'Saksham' scheme for the development of 10 old industrial areas across the state. The move is aimed at upgrading infrastructure and reviving legacy clusters.

Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) will introduce a 2026–27 'land on lease' policy allowing long-term lease of industrial plots with later freehold conversion, and develop plug-and-play sheds in key clusters to speed up unit operations.

The Chief Minister also announced Wedding City projects in Gurugram and Kharkhoda, with another in Pinjore by the Tourism Department. A land feasibility certificate scheme will provide digital approvals within 45 working days, and construction deadlines for HSIIDC plots have been extended till December 31, 2026, benefiting around 500 industrialists.

A Common Industrial Secretariat will be established in Gurugram, Manesar, Faridabad and Rewari to streamline inter-departmental coordination. The state will also launch the Haryana Chapter of the Women Entrepreneurship Forum of NITI Aayog and set up 10 modern Matr-Shakti Industrial Crèche Networks in industrial areas to support working women.

MSME Support and Trade Facilitation

Among other measures, the Chief Minister proposed a dedicated Small Traders and MSME Insurance Scheme and the launch of an Advance Ruling portal to resolve investor concerns within 15 working days. Foot overbridges will be constructed near IMTs adjoining highways to enhance worker safety.

In a significant announcement for Panipat, 10 acres of HSIIDC land will be allotted for a central-level Indian Institute of Handloom Technology (IIHT). He also announced the establishment of India's largest wholesale market and North India's biggest marble market cluster in Rai, Sonipat.

Export Growth and Fiscal Outlook

Highlighting export growth, the Chief Minister said Haryana's merchandise exports have risen from Rs 32,000 crore in 2014–15 to Rs 1,61,707 crore in 2024–25, reflecting growth of nearly 395 per cent.

He announced special recognition for units exporting over 80 per cent of production and enhanced the Export Freight Subsidy Support limit from Rs 10 lakh to Rs 30 lakh.

MSME and Export Facilitation Desks will be set up in all districts, along with an MSME–Global Industrial Matchmaking Programme and Reverse Buyer-Seller Meets to connect local enterprises with overseas buyers and OEMs.

At the macro level, the 2026–27 Budget indicates that committed liabilities continue to dominate expenditure. Debt servicing remains the largest burden, with interest payments projected at Rs 29,266.62 crore and repayment of public debt at Rs 36,101.68 crore, taking total debt servicing to Rs 65,368 crore and reflecting limited fiscal headroom.

Among focus areas, the sharpest increases have been proposed for revenue and disaster management (up 84.5 percent), co-operation (70.4 percent), MSME and industries (46.9 percent), and youth empowerment (37.3 percent), signalling a policy thrust towards disaster preparedness, cooperative financing and employment-oriented industrial growth.

(KNN Bureau)

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