Tax Changes In Budget 2026? BMR Legal's Mukesh Butani Reveals What To Expect

In Business Today’s Pre-budget discussion, Mukesh Butani, Managing Partner at BMR Legal talked on expectations for the 2026 Union Budget amid global uncertainties, tariffs, and geopolitical risks. Mukesh Butani advocates a balanced approach: shielding the economy from shocks while accelerating long-term growth under Viksit Bharat. Key expectations include customs duty rationalization to support FTAs (UK, EU, potential US), fixing inverted duty structures to boost exports and domestic manufacturing, and addressing sluggish private CapEx. He highlights tax collection challenges from GST cuts, slower direct taxes, and stresses tax certainty via administrative reforms, treaty respect, long-term incentives for sovereign funds, and easing compliance for businesses. His top reform priority: deeper tax administration changes to build investor confidence and drive India toward 2047 goals.