The Union Budget 2025-26 is a significant step toward fostering entrepreneurship, innovation, and investments, says industry body PHDCCI
The focus on Public-Private Partnerships (PPP) in infrastructure, along with 50-year interest-free loans for state projects, is expected to create a multiplier effect not only boosting India’s GDP but also strengthening the states’ economy, said Shri Hemant Jain, President, PHDCCI in a press statement issued today.
With a historic high of Rs. 50.65 lakh crore, the Union Budget prioritizes Agriculture, the Middle Class, Manufacturing, MSMEs, Women Empowerment, and Job Creation, said Mr. Jain
PHDCCI projects that the Budget’s strategic focus will contribute over 1% (100 bps) to India’s GDP growth in 2025-26, creating lakhs of new employment opportunities in the country
This Union Budget is in line with PHDCCI’s expectations, the budget has surpassed the Rs. 50 lakh crore mark first time, said Shri Hemant Jain.
The increased budget allocation is set to foster substantial growth across various sectors, he says
A significant reform in income tax, including the exemption for incomes up to Rs. 12 lakh and a 30% tax rate on incomes above Rs. 24 lakh, will stimulate consumption demand and expand industrial production, said Mr. Jain
The rise in disposable incomes will drive consumer spending, subsequently encouraging businesses to scale operations, increase investments, and expand production.
The Dhan Dhanya Krishi Yojna, benefiting 1.7 crore farmers in 100 districts, will significantly boost rural development, agricultural productivity, and farm incomes, said Mr. Jain
Moreover, the mission for self-reliance in pulses is set to reduce food inflation and curb dependence on imports, while a dedicated Makhana Board in Bihar will enhance processing and value addition, further benefiting farmers, said Mr. Hemant Jain
The transformative initiatives to empower MSMEs and bolster the Make in India manufacturing mission, said Mr. Jain
Enhanced focus of MSMEs will generate employment, accelerate economic growth, and strengthen India’s journey towards Viksit Bharat.
India is rapidly positioning itself as a global economic powerhouse, with ongoing reforms and initiatives attracting investments and fostering innovation, said Mr. Hemant Jain.