Chirashree Ghosh, National Coordinator, FORCES
“The Union Budget 2025 announcement of increase in allocation for Saksham Anganwadi and Poshan 2.0 is a welcome step towards strengthening early childhood care in India. With 32.1% of children under 5 years being underweight, enhanced nutrition support is a vital parameter for their development. This enhanced funding will help create comprehensive childcare support systems. Following the government’s push for increasing women’s economic participation and the expanding gig economy, such infrastructure is crucial for enabling them to fully engage in the workforce and pursue livelihood opportunities.”
Liberatha Kallat, Chairperson & MD, DreamFolks
“The Union Budget 2025 is a game-changer for India’s travel and tourism sector. The UDAAN expansion and support for smaller airports will boost regional connectivity, driving demand for premium airport services like ours at DreamFolks. Including hotels in the infrastructure list and developing top destinations will further enhance India’s tourism appeal, creating opportunities for us to expand our network and hospitality partnerships. Access to PM Gati Shakti data will enable us to optimize operations and create a more seamless travel ecosystem. The focus on medical tourism and ‘Heal in India’ will drive demand for tailored airport services for medical travelers, a segment we’re well-positioned to serve. Finally, Mudra loans for homestays will boost experiential tourism, allowing us to collaborate with emerging hospitality players and offer more holistic travel solutions. This budget lays a strong foundation for India to become a global tourism hub, and DreamFolks is ready to capitalize on these opportunities to elevate travel experiences worldwide.”Kapil Garg, Managing Director, Asian Energy Services Limited“We applaud the Government and Hon’ble Finance Minister, Smt. Nirmala Sitharaman on presenting a favourable budget for the manufacturing and infrastructure segment. The announcement to invest in urea production capacity in Namrup, Assam is an excellent move since Assam’s abundant natural gas resources will not only benefit Oilmax in the long term but also open up significant natural gas demand in the region. This strategic initiative aligns with the government’s broader vision to drive industrial growth in eastern India while bolstering self-reliance in fertilizer production.The budget’s robust focus on expanding waterway and canal infrastructure is set to transform industrial logistics, particularly for sectors like oil, gas, and petrochemicals. The creation of a substantial Maritime Development Fund and the expansion of regional connectivity through enhanced schemes will further streamline transport and trade, integrating remote areas into the national economy.
Key duty exemptions on critical minerals such as cobalt, lithium-ion battery scrap, lead, and zinc are poised to strengthen domestic manufacturing. The allocation for research, development, and innovation will accelerate advancements in energy efficiency aims to secure long-term energy stability.
The policies should attract private sector participation and foreign direct investment in energy projects, will enhance India’s energy security and reduce import dependency.
Furthermore, the reduction in income taxes and the rationalization of TCS and tax exemptions are expected to boost household spending power, fueling broader economic demand. Power sector reforms that incentivize improved electricity distribution and intrastate transmission capacity will further ensure a stable and efficient energy supply. The substantial provision of interest-free loans to states for capital expenditure underscores a strong commitment to long-term infrastructure development.
For MSMEs, increased investment and turnover limits will empower small and medium enterprises to scale up, innovate, and expand their global competitiveness, especially as they contribute significantly to India’s exports. Mining sector reforms, along with policies for recovering critical minerals from tailings, will further reinforce resource independence.
By promoting energy storage, grid modernization, and expanding strategic oil reserves, the government is laying the groundwork for a resilient, diversified energy mix. Export incentives and policy measures to integrate India into global energy markets will further enhance the country’s positioning as a key player in the sector.
Overall, this budget lays a strong foundation for sustained economic expansion, energy security, and industrial development. It creates a growth-oriented policy framework that will generate long-term value for industries such as oil, gas, and energy, while driving India’s journey toward a more self-reliant and sustainable future.”
Dhiraj Relli, MD and CEO
The Budget 2025 presents a masterful blueprint for India’s economic growth, skillfully balancing fiscal responsibility with progressive reforms. The budget creates a perfect foundation for future interest rate reductions by maintaining fiscal discipline while implementing growth-oriented measures. The government’s strategic focus on capital expenditure, while prudently managing non-capex expenditure, demonstrates excellent fiscal management.
In a landmark fiscal measure designed to uplift the nation’s backbone – its middle class – the government has graciously extended the tax-free threshold to a remarkable ₹12.75 lakh under the new tax regime. This magnanimous gesture translates into an unprecedented infusion of ₹1 lakh crore into the hands of middle-class households nationwide. Such a substantial enhancement to disposable income promises to invigorate the marketplace, mainly benefitting the fast-moving consumer goods sector and durable goods manufacturers, as families find themselves empowered to fulfil their essential needs and aspirational purchases with renewed confidence.
Innovation and employment generation receive powerful support through the enhanced Start-up Fund of Funds and targeted labour-intensive schemes. The budget’s comprehensive approach to strengthening agriculture, MSMEs, investments, and exports is poised to catalyse credit demand, invigorating the banking sector’s loan growth.
Arijeet Talapatra, CEO itel and TECNO
The Union Budget 2025 signals a strategic move to position India as a global hub for mobile manufacturing. The proposed tariff reductions on essential assembly components—such as PCBAs, camera modules, USB cables, and display modules—are a welcome measure that will improve cost efficiencies, accelerate localization, and strengthen the Make in India initiative. This move strengthens India’s position in the global supply chain, especially amidst shifting trade dynamics amongst major economies.
The decision to raise the income tax exemption limit upto ₹12 lakh will substantially increase disposable income, providing a significant financial boost to taxpayers, leading to increased consumer spending on electronics. As purchasing power of consumers rises, the demand for smartphones and other digital devices is expected to rise, further fueling the growth of India’s electronics industry. The establishment of five National Centres of Excellence for Skills and global skilling cooperation would equip young people for global opportunities. The Make in India campaign and streamlined trade policies are consistent with the government’s goals of driving growth, promoting investment, and encouraging women workforce participation.
Rajesh Doshi, Co-founder & Director at Zebronics
“The Union Budget 2025’s introduction of the National Manufacturing Mission will bolster the ‘Make in India’ initiative significantly along with the reforms for MSMEs and start-ups which will greatly encourage employment opportunities including women workforce, across all spectrums. Additionally, the revised New Income Tax regime, with no tax on income up to ₹12 lakh, underscores increase in disposable income, stimulating consumer spending and economic growth.
Agendra Kumar, Managing Director, Esri India
“A big thank you to our Hon. Finance Minister for announcing several programs as part of the budget for 2025-26 to give a boost to the geospatial sector. The most important one is the setting up of the National Geospatial Mission to develop foundational geospatial infrastructure and data to facilitate land records modernization, urban planning, and infrastructure design. The users in the government, private sector, and the industry have lived with the lack of good foundational data for a very long time. I believe this announcement will provide the necessary resources to create geospatial data that will serve as a foundation for social and economic development. By improving productivity across sectors such as agriculture, natural resources, energy generation and distribution, rural and urban initiatives, and governance, this effort will drive meaningful progress. Investment in research and development fuels economic growth, improves quality of life, and shapes the future. Rs 20,000 crore investment to drive private sector-led R&D and innovation, funds for Deeptech research, 10,000 fellowships under the PM Research Fellowship Scheme, and Rs 500 crore investment for a CoE in AI for education, are transformative steps to make India more competitive at the global level in terms of innovation and IP creation. Overall, the budget has set strong grounds for equipping India with the skills and resources necessary to navigate the evolving global landscape and achieve its vision of being a technologically advanced and prosperous nation.”
Swapna Bapat, Vice President, Managing Director
“We strongly believe that innovation is the driving force behind sustainable progress. The Government of India’s ₹500-crore investment to establish a Centre of Excellence in Artificial Intelligence for education marks a decisive step toward realizing AI’s full potential. Equally critical is modernizing and securing both legacy and emerging systems, supported by a workforce skilled in meeting the demands of an increasingly digitally connected world.
We appreciate the government’s commitment to upskilling the young workforce for emerging technologies. The creation of national centers for skilling with global expertise under ‘Make for India’, alongside provisions for 10,000 fellowships for technological research in IITs and IISc, will play a pivotal role in bridging the talent gap and preparing professionals for the future of work.
The India AI Mission presents vast opportunities for AI adoption yet it also highlights inherent security risks associated with it, as AI remains a double-edged sword. Initiatives like the IndiaAI Innovation Centre, IndiaAI FutureSkills, and Safe & Trusted AI exemplify a forward-looking approach to responsible AI implementation, reinforced by robust security measures. Together, these steps foster a secure, innovation-centric ecosystem that benefits both businesses and society.”Taranjit Singh, Chairman, ASSOCHAM Eastern Region Development Council
Union Budget is to enhance spending power of India’s rising middle class and secure inclusive development.
Proposing to remove TCS on Introduction of Broadband connectivity to be provided to all government secondary schools and primary healthcare centres will enhance education and health services of the country.
He welcomed Centre of excellence in AI along with expansion of medical education as it will boost education sector.
This Budget will have a profound impact on the global economy, influencing trade, investment, and the overall economic well-being of nations worldwide.
K A Shabir, CEO, Funskool India
“The budget 2025 was focused on increasing the spending power for India’s growing middle class and that is great for all manufacturers, irrespective of sectors.
The announcement to implement a scheme to make India a global hub for toys is appreciable.
The development of clusters, skills and a manufacturing ecosystem to create high-quality, unique, innovative and sustainable toys will change the dynamics of the Indian toy industry and drive the ‘Make In India’ initiative, further on.
As India’s leading toy Manufacturer, Funskool has been proudly contributing to the ‘Make in India’ initiative and will continue to do so and work towards strengthening the Indian toy industry.”