Deal Street's Union Budget 2026 Wishlist: M&A Boost, Tax Reforms, and Investor Clarity

• Dealmakers urge Finance Minister Nirmala Sitharaman to introduce greater flexibility for delisting routes, making processes and pricing easier for listed companies.
• Calls for lightening Press Note 3 (PN3) restrictions, limiting it to sensitive sectors and specific deal value thresholds to spur FDI and M&A from countries like China.
• Experts seek clearer, business-friendly treatment of earn-outs, deferred consideration, and complex cross-border structures for sustained M&A activity.
• Proposals include rationalizing LTCG, STCG, and STT to enhance India's capital market attractiveness and offset risk-off FPI behavior.
• Demand for clarification post the Tiger Global verdict on tax domicile and treaty benefits to address investor uncertainty and ensure predictability.

Why It Matters: Dealmakers seek Budget 2026 reforms for M&A growth, tax clarity, and investor confidence in India.