New Delhi: The Union Budget 2026 has announced several measures aimed at boosting agriculture, industry and exports in Punjab. Presenting the budget, Finance Minister Nirmala Sitharaman said farmers will be given special incentives to move beyond wheat and paddy cultivation and adopt oilseeds and pulses, a step expected to directly benefit those opting for crop diversification.
The government has also increased the investment limits for the micro, small and medium enterprises (MSME) sector. This is likely to benefit industrial hubs such as Ludhiana, Jalandhar and Amritsar, enabling industries to access higher credit and enhanced government support.
To strengthen exports, the budget proposes focused assistance for Punjab’s key products, including Ludhiana’s hosiery goods and Jalandhar’s sports equipment. A dedicated ‘export desk’ will be created on the government’s CHAMPIONS portal to help traders and manufacturers sell their products more easily on global e-commerce platforms.
The budget also announced the development of seven new high-speed rail corridors to improve rail connectivity. Along with logistics reforms in north India, this is expected to help Punjab’s goods reach ports faster and at lower cost.
CHAMPIONS 2.0 expansion
The government said the CHAMPIONS portal will be upgraded with artificial intelligence and machine learning under ‘CHAMPIONS 2.0’. The enhanced platform will enable faster resolution of MSME grievances and automatically identify regions facing shortages of raw materials.
Push to develop export hubs
The finance minister said the upgraded portal will directly link small industries with international markets. A special export desk will facilitate the onboarding of Punjab’s products—such as hosiery and sports goods—onto global digital marketplaces.
Easier credit for MSMEs
The CHAMPIONS portal will also be more closely integrated with banks. Based on the performance of registered enterprises, MSMEs will be offered pre-approved credit without additional paperwork, improving access to timely loans.
Data dashboard for MSME clusters
The portal will function as a data dashboard for state-specific industrial clusters, including Punjab’s steel and bicycle industries. This will help the government assess sector-specific needs for subsidies, raw materials or new machinery and frame targeted support policies.
Overall, the budget’s announcements are expected to provide momentum to Punjab’s agriculture, manufacturing and export-oriented sectors.
