Pheiroijam Christina Devi, Gracy Nandy, and Chayanika Handique Reign as Winners of 21st Livon Mega Miss North East
Rutuparna Rath news
Pheiroijam Christina Devi, Gracy Nandy, and Chayanika Handique Reign as Winners of 21st Livon Mega Miss North East

Guwahati; February 1, 2025: Amidst a glamorous evening filled with elegance and cultural pride at the ITA Cultural Complex in Guwahati, Pheiroijam Christina Devi from Imphal, Manipur, Gracy Nandy from Shillong, Meghalaya, and Chayanika Handique from Karbi Anglong, Assam, were equally crowned as winners of the 21st Livon Mega Miss North East 2025. With no runners-up, the trio will share equal privileges and responsibilities, representing the region’s exceptional talent and beauty.

The event, conceptualized by fashion entrepreneur Abhijeet Singha, produced by Mega Entertainment, and marketed by Mega Activation, has long been the premier platform for empowering young women in Northeast India. This milestone edition attracted immense enthusiasm during its eight-city audition tour and culminated in an intensive grooming and training camp in Guwahati for 57 finalists.

Reflecting on the winners’ journey, Abhijeet Singha, Founder of Mega Entertainment, said, “My heartfelt congratulations to Christina, Gracy, and Chayanika for their well-deserved triumphs. Over the years, Mega Miss North East has transformed into a gateway for global opportunities, nurturing talent that continues to inspire communities. This year’s winners embody the spirit of empowerment, resilience, and cultural pride, and I am excited to see them shine on international stages.”

Pheiroijam Christina Devi, a BA English student at Royal Global University, Guwahati, hails from Imphal, Manipur. Her father is a businessman, and her mother is a homemaker.

Gracy Nandy, from Shillong, Meghalaya, is a second-year BA student at St. Edmund’s College. Her father works as a government employee, and her mother runs a parlour business.

Chayanika Handique, pursuing her BSc from Diphu Government College in Karbi Anglong, Assam, credits her homemaker mother for inspiring her journey.

As the Title Sponsor, Livon celebrated the winners for their individuality and achievements. Somasree Bose Awasthi, Chief Marketing Officer, Marico Limited, said, “Congratulations to the winners of the 21st Mega Miss North East! Livon has always been a trusted hairstyling companion for Gen Z and the youth, inspiring them to express their unique style with confidence. Our partnership with Mega Miss North East perfectly embodies our brand philosophy, SalonHairOnTheGo. At Livon, we take immense pride in supporting transformative journeys, and this year’s winners have truly surpassed boundaries, securing global opportunities that reflect the vibrant culture and beauty of the Northeast. We are thrilled to have been part of this iconic platform.”

This year, the event was supported by the Ministry of Tourism, Government of India, under the Incredible India banner, spotlighting the region’s rich cultural heritage. The Hidden Paradises of Northeast India campaign added a unique dimension, amplifying the region’s allure on a global stage.

The winners received a prize package worth over ₹50,000, travel opportunities, professional representation by Mega Entertainment, brand engagements, public relations advisory from Life’s Purple, the official PR Partner, and the chance to represent India at prestigious international platforms.

The Grand Finale, graced by Fran Zafra, Mister International 2024, celebrated the talent and cultural richness of Northeast India. The evening concluded with the winners embarking on a transformative journey of self-discovery and recognition, inspiring a new generation to dream big.

Post-Budget 2025: Experts Share Their Reactions
Rutuparna Rath business
Post-Budget 2025: Experts Share Their Reactions

Dr. Prathap C Reddy, Founder and Chairman

From the 1980s, when our healthcare system grappled with limited infrastructure and resource constraints, we have made significant strides in expanding access to quality care. Over the last decade, we have laid a robust foundation, bringing modern diagnostics, preventive healthcare, and cutting-edge developments in medical technology to patients across India. Now, Budget 2025 serves as a visionary launchpad for ‘Heal in India,’ creating the roadmap to establish India as a global center for advanced healthcare and medical innovation.

The expansion of medical education with 75,000 additional medical seats over the next five years, coupled with the launch of Centers of Excellence in AI, will foster innovation in health-tech and expand R&D investments. The announcement to promote medical tourism through private sector partnerships will enhance our capacity to attract global patients and position India as the go-to destination for affordable, world-class medical care under the ‘Heal in India’ mission. With support for capacity building and streamlined visa processes, this initiative will ensure India not only heals its citizens but also helps heal the world.

The setting up of 200 Daycare Cancer Centers in district hospitals and the inclusion of critical medicines for rare diseases, cancer, and severe chronic conditions under custom duty exemptions are commendable steps. These measures will reinforce our national efforts in fighting non-communicable diseases and reducing out-of-pocket expenses for patients.

The focus on skilling healthcare professionals in emerging technologies through the establishment of National Centers of Excellence and 50,000 Atal Tinkering Labs will empower the next generation of medical innovators and startups. Simplified compliance processes for startups will also boost health-tech innovation, enhancing our ability to develop cutting-edge solutions for patient care.

This is not just a budget for the year ahead—it is a launchpad for India’s healthcare system to emerge as a global leader. The synergy of initiatives under ‘Heal in India,’ ‘Heal by India,’ and innovation-driven care will redefine how India delivers healthcare and sets benchmarks for the world.

Akash Sharma, co-founder, Farmley

“India is at the cusp of a healthy snacking revolution, and makhanas form a pivotal part of the same. As a driving force of healthy snacking with a range of makhanas and makhana-based snacks, we welcome the establishment of a Makhana Board in Bihar as a transformative step in India’s healthy snacking revolution. This superfood from our motherland is now positioned to make its mark on the global health food landscape. The Board’s formation will streamline the entire value chain – from production and processing to value addition and marketing of fox nuts. For farmers engaged in makhana cultivation, this initiative opens doors to skill development and institutional support, creating a win-win ecosystem for both agricultural communities and leading industry players like Farmley.”

Shailesh Chandra, President, SIAM

“We welcome this budget which is focused on long term sustained economic growth. The specific focus on rural prosperity and agriculture, coupled with reforms in the Personal Income Tax, is likely to have a positive effect on the Auto Industry, and will help in creating demand.

As the Auto Industry transits into cleaner powertrains, in line with the Hon’ble PM’s vision on sustainable mobility, it will specifically benefit from the National Manufacturing Mission, which supports clean tech manufacturing for batteries, motors and controllers. Furthermore, the exemption of critical minerals (e.g. Cobalt, Lead, Zinc etc.), scraps of Lithium-ion battery, and 35 additional capital goods from customs duty, will help create a strong EV ecosystem in the country.

The Export Promotion Mission and support for integration with global supply chains are critical initiatives that will enable Indian manufacturers to expand export footprints, and align with global supply chains.

The Auto Industry is also thankful to the Government for creating a high-level committee for regulatory reforms, aimed at reviewing regulations, certifications, licenses, and permissions, as this will certainly help in ease of doing business in our sector.”

Shivam Thakral, CEO of BuyUcoin, India’s second-longest-running digital asset exchange

The Union Budget 2025, presented today, has left the Web3 sector with mixed feelings. While there were no specific announcements addressing the unique challenges faced by this innovative space, the Finance Minister’s commitment to rationalizing tax deduction at source (TDS) is a step in the right direction. Reducing the number of rates and thresholds for TDS can enhance clarity and compliance for businesses operating within the Web3 ecosystem.

Furthermore, the establishment of a committee to review reforms aimed at improving the ease of doing business is promising. This initiative could lead to streamlined regulations that are crucial for attracting investments in startups, including those in the Web3 domain. The proposed ‘Fund of Funds for Startups’ and extending the incorporation period for startups to five years signal a supportive environment for entrepreneurship.

However, we urge for more decisive action regarding taxation and regulatory frameworks to foster growth in Web3. We at BuyUcoin believe that clear guidelines are essential to reduce uncertainties and encourage both domestic and international investments. Together, we can pave the way for India to become a global leader in digital assets.

Rishi Das, Executive Director & CEO, IndiQube

“The Union Budget brings a host of positives for the Indian startup ecosystem. The new Fund of Funds, with an additional ₹10,000 crore contribution, is a significant boost, ensuring greater access to capital, fostering innovation, and enabling startups to scale faster. The proposed DeepTech Fund of Funds is also a positive change, set to catalyze the next generation of startups in cutting-edge technology domains.Additionally, the strong focus on skill development—through infrastructure expansion in IITs, the establishment of a Centre of Excellence for AI, and the addition of 10,000 medical college seats—will help build a robust talent pipeline to meet the evolving needs of the industry. This forward-looking approach will further strengthen India’s position as a global hub for innovation and entrepreneurship.”

Ashish P. Dhakan, MD & CEO, Prama Hikvision India Pvt. Ltd.

We welcome the progressive Union Budget 2025-2026, which has a future roadmap to steady reforms. It has a booster dose for India’s technology ecosystem. This is a growth-oriented budget with significant relief for the middle class. The Union Budget has sparked interest in the video security industry and its key stakeholders. The key announcements and provisions relevant to the video security industry are getting positive feedback.
The budget proposes establishing a Centre of Excellence in Artificial Intelligence for education, with an outlay of ₹500 crore. This initiative could have positive implications for AI-powered video security solutions. The Union Budget aims to boost domestic semiconductor manufacturing through incentives and investments. This could lead to advancements in video security technology, such as improved camera sensors and processing capabilities. The budget proposes exempting customs duties on critical minerals, including lithium-ion battery scrap, which could benefit the manufacturing of security devices. The budget plans to expand broadband connectivity to rural schools and health centers, which could create new opportunities for video security solutions in these areas. The incentives for ‘Make-in-India’ initiatives can help the electronic security industry to expand and grow further.

Rajat Grover, Founder & CEO, Elite Marque

This budget’s allocation of Rs 95,000 plus crore for startups, with Rs 10,000 crore dedicated to Alternative Investment Funds (AIFs), is a masterstroke that goes beyond funding. It’s about building an innovation led economy. As someone who has seen India’s entrepreneurial journey evolve, I can say this is the kind of bold move we’ve needed for decades. Startups today contribute 4 to 5% to India’s GDP and employ over 5 million people, yet they’ve been starved of capital, especially in early stages. In 2023, funding dropped by 72% to $10 billion, leaving many promising ventures stranded. This initiative bridges that gap, but more importantly, it creates a multiplier effect. Every rupee invested in startups generates 2.5 times more jobs than traditional sectors, and this could catalyze the creation of 10 million new jobs by 2030.

What excites me most is the focus on sectors like renewable energy, healthcare, and deep tech, areas where India has the potential to lead globally. Imagine a startup in a small town developing affordable healthcare solutions or a cleantech venture scaling innovations to help India meet its 2070 net zero target. These aren’t just businesses; they’re solutions to India’s biggest challenges.

On a macro level, this move positions India as a magnet for global capital. With venture capital inflows projected to double to $20 billion by 2026, we’re not just funding startups; we’re building an ecosystem that can rival Silicon Valley. This will create a ripple effect, boosting ancillary industries, increasing exports, and reducing our dependence on foreign technology.

In essence, this isn’t just a budget announcement; it’s a vision for India’s future, a future where innovation drives growth, jobs are created at scale, and India becomes a global leader in solving real world problems. This is the foundation of a self reliant, innovation driven India, and I couldn’t be more optimistic about what lies ahead.

Saurav Ghosh, Co-founder, Jiraaf

“The boost to consumption by extending tax slabs and removing tax for income upto 12L, could prove to be significant to revitalise the economy. The government has put more money in the hands of the tax payer. We hope the new tax bill promised by the finance minister would make tax compliance easier and reduce the effective tax rate. It would be important to wait for the new tax bill before planning expenses and investments. Unleasing the consumption potential could benefit MSMEs as well. It was also encouraging to see the government focus on MSMEs as engine of growth. We hope to see private capex pick up from the prudence that the government has maintained on the policy front. The repositioning India post as a core logistics player can also help connect remote destinations and speed up growth.”

Manish Goel, Founder and MD, Equentis Wealth Advisory Services

“Union Budget 2025-26: A Big Win for Personal Finance & Growth. The Union Budget 2025-26 delivers a strong push for middle-class taxpayers, making personal finance a key beneficiary. With zero tax up to ₹12 lakh under the new tax regime and simplified TDS/TCS rules, individuals will have higher disposable incomes, driving consumption and savings. The rationalization of tax slabs and compliance relief further eases financial planning, making this budget a major step toward a more taxpayer-friendly system.

Beyond tax relief, the budget supports long-term wealth creation through pro-growth policies, infrastructure investments, and MSME incentives. The ₹10,000 crore Alternate Investment Fund (AIF) for startups and higher MSME credit limits aim to boost entrepreneurship and job creation, fostering an environment where individuals can benefit from expanding economic opportunities.

On the macroeconomic front, the government maintains fiscal prudence, targeting a 4.4% fiscal deficit in FY26 while projecting a 10.1% GDP growth at current prices. Increased capital expenditure and a renewed focus on divestments ensure that growth remains sustainable, paving the way for robust financial markets and stable long-term returns for investors.

For rural and agricultural sectors, higher credit limits for farmers under the Kisan Credit Card (KCC) and dedicated support for agri-processing, including the Makhana Board in Bihar, promise income stability for millions. Similarly, trade facilitation measures like the Export Promotion Mission and Bharat Trade Net will simplify business transactions, ensuring stronger growth in global trade.

With bold reforms, tax relief, and growth-oriented measures, Budget 2025-26 strengthens personal financial security while driving India’s economic momentum. A clear focus on wealth creation, savings, and ease of doing business makes this a transformative budget for individuals and investors alike.”

Raghvendra Nath, MD, Ladderup Wealth Management

“After a long time, the middle class has a reason to cheer. By moving the tax exemption to Rs.12 lacs, the current income tax proposal is going to leave a lot of money in the hands of the middle class. While the government is foregoing Rs.1 lac crore of Income Tax, we think the increase in consumption can help offset some of the exchequer loss. On the fiscal side a budget estimate of 4.4% is tad on the higher side. I think the government recognizes the recent slowdown and the importance of govt expenditure to maintain the growth momentum. Bringing the gig workers into its notice, atleast through some medical relief, is a step in the right direction as 1 crore gig workers is a very large segment of the population and also the fastest growing portion of the employment pool. Overall the budget has balanced the large goals of Economic Development and the Social responsibility of the government.”

Shivam Narang, Managing Director, Khalsa E-Vehicle Pvt. Ltd

“The Union Budget 2025 laid a strong foundation for India’s EV future. By fostering domestic manufacturing, easing battery costs, and promoting clean technology, the government has set the stage for long-term, sustainable growth. The focus on grid-scale batteries will help stabilise the renewable energy grid, ensuring that EVs can be powered by clean energy sources.

The exemption of basic customs duty on lithium-ion battery scrap is another commendable move. It promotes a circular economy by making battery recycling more viable, reducing reliance on fresh raw material imports, and decreasing production costs and environmental impact.

However, to ensure widespread EV adoption, further policy interventions around charging networks, financing models, and end-user incentives will be crucial. If these aspects are addressed in parallel, India has the potential to become a global leader in EV innovation and clean mobility solutions.”

Ondrej Kubik, CEO, Home Credit India 

“The Union Budget 2025 highlights a decisive push towards financial empowerment and inclusion and a digitally-driven economy. The government’s vision to expand access to formal credit, strengthen the digital financial literacy, and enable a thriving fintech ecosystem aligns well with our mission at Home Credit India. We welcome the budget’s provisions aimed at supporting the Middle and Lower-income groups, enhancing consumer protection, and fostering responsible lending practices. The focus on ease of compliance and ease of doing business, rationalisation of customs duties, widening the scope of MSMEs and the sustained emphasis on agrarian economy are all positive steps, reinforcing the core growth elements. As a responsible lender, we remain committed to driving financial inclusion by offering simple, transparent, and accessible credit solutions to underserved communities. By leveraging technology and innovation, we will continue to support India’s vision of a financially resilient and digitally empowered nation, ensuring that millions of consumers can achieve their financial aspirations with confidence.”

Sarang Deo, Deputy Dean, Faculty & Research and Executive Director 

The focus on healthcare infrastructure delivery is certainly becoming more prevalent in the Union Budget. While broadband connectivity in primary health centres in rural areas will pave the way for the expansion of telemedicine, it will also create more opportunities for online training of healthcare workers, as well as, transfer of real-time data and analytics.

By increasing the number of medical seats, the government is also looking to address the need for building the human workforce, i.e., more doctors in the country to reduce the rural vs. urban disparity. To strengthen the primary and preventive care system, rather than further crowding the speciality clinical services, it is important to create policies that will encourage new doctors to become general practitioners, family practitioners, etc. Additionally, to combat this shortage, the healthcare industry must also learn about the best practices from other emerging economies that rely far more on ancillary health workers/paramedics, etc.

The setting up of Day Care Cancer Centres in all district hospitals is much needed due to the rising cancer burden in the country. These physical centres should be linked with strong referral systems supported by technology to ensure high-quality care to patients. A bigger need is to scale up cancer screening and diagnosis, the lack of which is resulting in patients being diagnosed at late stages with poor predicted outcom.

Pearl Agarwal, Founder and Managing Partner, Eximius Ventures 

“Indian PE-VC ecosystem is still evolving and in nascent years. We can only boast a history of two decades as opposed to developed nations nurturing the industry for over 50 years. Today, only 13% of Indian domestic family office capital is in alternative assets as opposed to 50% in the US. Hence, while foreign capital and family offices warm up to the opportunities that the country has to offer, it is important that the government takes required steps to boost the startup ecosystem with institutional capital. It’s gladdening to see the recent budget take a huge leap in that direction.”

Post-Budget 2025: Expert Reactions and Insights Unveiled
Rutuparna Rath business
Post-Budget 2025: Expert Reactions and Insights Unveiled

Yatin Gupte, Chairman & Managing Director

“We welcome the policies stated in Union Budget 2025-26 by the Hon’ble Finance Minister, which gives a strong push towards EV adoption, accelerating the development India’s electric vehicle ecosystem. The reduction in customs duty on lithium and other important raw materials will significantly lower input costs for lithium-ion battery manufacturing, making EVs more affordable to consumers while boosting domestic production. The introduction of a national manufacturing mission for clean tech industries is another commendable move. By strengthening the ecosystem for EV batteries, motors, and controllers, this initiative will accelerate India’s transition to sustainable transportation. The recognition of MSMEs as the ‘2nd engine’ of economic growth in the Union Budget 2025 will boost sectoral confidence. The fiscal policies stated to support MSMEs will have a multiplier effect on various sectors, including accelerating India’s e-mobility revolution. We are confident that the expanded tax bracket will enhance the purchasing power of the middle class, which will positively impact EV industry in India.”

Pallavi Shrivastava, Co-founder of Progcap

“We welcome the Union Budget 2025, strengthening the foundation for MSME growth by addressing long-standing challenges in access to credit, scalability, and global competitiveness. For years, MSMEs have faced barriers in accessing timely and adequate credit. Expanding the credit guarantee cover for micro-enterprises from ₹5 crores to ₹10 crore is a game-changer, potentially unlocking ₹1.5 lakh crore in additional lending over the next five years. This move will empower financial institutions to extend credit with greater confidence, particularly to underserved businesses that require working capital without collateral.

At the same time, raising MSME classification thresholds by 2.5x on investment and 2x on turnover means more scaling enterprises stay within priority sector benefits and avail of lower-cost credit. The introduction of customised credit cards with a ₹5 lakh limit through the Udyam portal is another innovative step toward financial inclusion. With many small businesses operating on fluctuating cash flows, these cards will provide them the flexibility to manage short-term expenses, extending credit access deeper into the ecosystem.

The focus on women-led enterprises is a highly encouraging move towards women’s participation providing them the new term loans of up to ₹2 crores. Managerial and capacity-building support is crucial to broaden the pathway for women-led enterprises. We are encouraged by the income tax relaxations for salaried individuals – this would spur consumer demand which has seen a downturn over the last few quarters, which in turn benefits MSMEs reliant on domestic spending.

Finally, with MSMEs powering 45% of our exports, the export promotion mission couldn’t be more timely. It would help businesses navigate global hurdles and scale internationally. These measures cut to the core of long-standing credit and growth issues. At Progcap, our mission is to turn each reform into real opportunities—ensuring that every MSME has the credit, flexibility, and support to innovate and thrive.”

Hitesh Motwani, CEO, Skillopedia

“With the Union Budget 2025’s bold investment in AI Centres of Excellence and skill development, India is not just preparing for the future—it is architecting it. The ₹500 crore push for AI research, coupled with expansive upskilling initiatives, will create a dual impact: India will emerge as both the largest consumer of AI and one of the world’s most formidable AI talent hubs. This is a defining moment—where innovation meets opportunity, and India positions itself at the forefront of the global AI revolution.”

Swayambhu Mohanty, Co-Founder of Airace 

The Union Budget 2025 has laid a strong foundation for accelerating India’s digital transformation, particularly in geospatial technology, precision infrastructure, and deep tech innovation. The announcement of the National Geospatial Mission is a pivotal step toward modernizing land records, enhancing urban planning, and driving large-scale infrastructure projects using advanced geospatial data. This initiative aligns perfectly with our mission at Airace Technologies to democratize high-precision GNSS solutions for industries ranging from construction and surveying to agriculture and smart cities.

Additionally, the Deep Tech Fund of Funds, aimed at catalyzing the next generation of technology-driven startups, is a significant boost for companies like ours that are leveraging AI, machine learning, and advanced GNSS analytics to revolutionize the industry. The government’s commitment to fostering research, development, and innovation—backed by a ₹20,000 crore allocation—further strengthens India’s position as a global technology leader.

The integration of PM GatiShakti’s data access for private sector innovation is another forward-thinking move, enabling more efficient project planning and execution. This will directly impact industries relying on precise positioning and navigation technologies, allowing for better decision-making and cost optimization. Moreover, the ‘Make in India’ incentives for electronics manufacturing, particularly for components essential to GNSS and precision technology, will support the localization of high-quality geospatial hardware, making India self-reliant in this critical sector.

S Anand, Founder and CEO of PaySprint 

The Union Budget 2025 brings a host of promising developments for the fintech and financial services sector, and I am encouraged by the government’s continued commitment to innovation and financial inclusion. The budget’s focus on improving access to financial services in remote areas, along with a clear emphasis on expanding digital infrastructure, will drive fintech adoption, especially in underserved regions. With 1.7 crore farmers and over 100 districts being targeted for financial and technological upliftment, this will further facilitate the reach of fintech solutions.

A key highlight is the renewed focus on regulatory responsiveness under the FSDC framework, creating a more agile and business-friendly ecosystem that empowers fintech players like PaySprint to accelerate digital banking adoption and drive financial inclusion across Bharat. The decriminalization under the Jan Vishwas Act 2023 is a game-changer, removing legal complexities and making it easier for startups and MSMEs to grow. Strengthening Central KYC (CKYC) will further streamline compliance, reduce redundancies, and improve financial access. The commitment to digital public infrastructure, including a new international trade financing platform, alongside ₹10.18 lakh crore allocated for capital expenditure, will bolster fintech capabilities in delivering secure, efficient, and scalable financial services. With financial sector reforms driving data-driven governance and a fiscal deficit reduction target of 4.4% of GDP by FY26, these initiatives provide a stable environment for fintech firms to thrive and position India as a global financial leader. At PaySprint, we are excited to leverage these policy-driven advancements to build smarter, more inclusive financial solutions, ensuring businesses—big and small—can grow and succeed in this evolving ecosystem.

Vikram Kankaria, Co-Founder & CEO, Fashor 

The Union Budget 2025 brings a wealth of opportunities for the fashion and retail sector, and we at Fashor are excited about the potential it holds. The government’s emphasis on digital infrastructure and MSME support will significantly benefit us as we continue to scale our operations. With over 10 lakh loyal customers and plans for 100 exclusive brand outlets across India, the budget’s measures to simplify tax filing, extend the TCS threshold for remittances, and enhance ease of doing business will allow Fashor to expand seamlessly across both digital and physical platforms.

The focus on women’s empowerment and entrepreneurship is also incredibly aligned with our mission. As a brand that champions affordable fashion for women, we are thrilled by the government’s initiatives to support female-led businesses, which will enable us to further empower women within our organization and customer base. Moreover, the budget’s attention to sustainable manufacturing and support for ‘Make in India’ will have a direct impact on the retail and fashion industries. With reduced customs duties on key raw materials and a focus on clean tech manufacturing, Fashor can strengthen its supply chain and produce responsibly sourced fashion at scale. This will allow us to meet the growing demand for stylish, high-quality products while supporting the government’s green initiatives. The government’s support for export promotion, including the development of digital infrastructure for international trade, opens up exciting new opportunities for Fashor to expand globally.

Pradyumn Sharma, CEO of Pragati Software

The 2025 Union Budget marks a defining moment for India’s digital economy, with a clear focus on AI, deep tech, and workforce skilling. The allocation of ₹500 crore for a Centre of Excellence in AI for Education and the continued investment in AI-led research and skilling programs signals a strong push towards preparing India’s workforce for the future. At Pragati Software, we see this as a transformative opportunity to further bridge the gap between emerging technologies and industry-ready skills.

The Deep Tech Fund of Funds and ₹20,000 crore investment in private-sector-led research and innovation are crucial steps that will accelerate advancements in AI, automation, and cloud computing. This directly impacts corporate IT training, as businesses will now need to upskill employees to harness these cutting-edge innovations. Additionally, the announcement of five National Centres of Excellence for Skilling reinforces the government’s commitment to equipping professionals with the expertise needed to thrive in a rapidly evolving tech landscape. As a company deeply invested in corporate IT education, we are excited to align our training programs with these national priorities, ensuring India’s workforce stays ahead in the global digital transformation race.

This budget recognizes that the future belongs to those who can adapt to AI, data-driven decision-making, and emerging digital technologies. We look forward to playing a key role in this transition, empowering organizations and individuals with the knowledge they need to excel in the next era of technological evolution.

Jani Vehkalahti – SVP, Smart Grids 

The Union Budget 2025 marks a significant step towards transforming India’s digital and IoT landscape. The government’s continued focus on strengthening digital infrastructure and promoting sustainability will play a crucial role in accelerating growth in the technology and IoT sectors. With ₹10.18 lakh crore allocated for capital expenditure and the introduction of digital public infrastructure for international trade, we expect to see enhanced connectivity and infrastructure, which will support the proliferation of IoT solutions across industries.

The budget’s emphasis on financial inclusion and expanding connectivity in rural areas is especially encouraging. This will enable the adoption of IoT solutions in sectors like agriculture, energy, and manufacturing, which will benefit from increased access to affordable and reliable connectivity. The proposal to extend the Liberalized Remittance Scheme (LRS) and increase the TCS threshold to ₹10 lakh will also encourage global partnerships, further positioning India as a hub for tech innovation. Additionally, the government’s commitment to green technology and sustainability, including tax incentives for clean energy and sustainable manufacturing, aligns with the IoT sector’s growing role in driving energy efficiency and smart solutions. This will accelerate the adoption of smart meters, smart buildings, and asset-tracking technologies, helping to improve operational efficiency while reducing energy consumption. The focus on technology and sustainability presents exciting opportunities for the IoT sector to contribute to India’s vision of a digitally inclusive, connected, and sustainable future.

Preeti Bhandary, Co-Founder and Director Curriculum 

“The Union Budget 2025 presents exciting opportunities for the education and preschool sector, with a focus on expanding digital infrastructure and ensuring financial inclusion. The ₹10.18 lakh crore capital expenditure allocation will help improve access to education, allowing platforms like Little Elly to extend our reach. The emphasis on digital learning tools and e-learning platforms will enhance early childhood education, making it more accessible across urban and rural areas.

The budget’s focus on mental and emotional well-being, inclusive education, and 50,000 new Atal Tinkering Labs aligns with Little Elly’s approach to nurturing both academic and emotional development in young children. With 80-100 new centres planned in cities like Bangalore, Chennai, and Pune, these initiatives will support our mission to foster holistic development. The government’s commitment to nutrition through Poshan 2.0 and expanded broadband connectivity will further strengthen our ability to deliver quality education to a wider audience.

Additionally, the focus on sustainability, eco-friendly practices, and green technologies aligns with our ‘Earth Lab’ initiative, which is aimed at fostering environmental responsibility. These measures will empower us to create responsible, mindful learners, preparing them for a future of success and sustainability.”

Suhani – Co-founder of Nishani, a jewellery brand

“The Union Budget 2025 offers a strong foundation for the growth of India’s jewelry and retail sector, with a particular focus on enhancing financial inclusion and digital infrastructure. The allocation of ₹10.18 lakh crore for capital expenditure will drive connectivity and improve e-commerce platforms, which is great news for brands like Nishani. With our commitment to offering customizable jewelry, this will help us reach a broader audience and make personalized, high-quality jewelry accessible to more consumers across India and globally.

The budget’s emphasis on sustainability aligns with the growing demand for responsible luxury in the jewelry industry. The reduction of duties on critical raw materials will support the jewelry sector by making it more cost-effective to source sustainable materials. With consumers increasingly prioritizing eco-friendly practices, this move will help brands like Nishani integrate sustainability into their operations. Additionally, the government’s proposal for incentives for green manufacturing technologies offers us a great opportunity to continue building a sustainable supply chain while upholding the luxury standards that our customers expect.

Moreover, the push for MSMEs and ease of doing business, including the increase in the Credit Guarantee Scheme for Startups to ₹20 crore, will provide new opportunities for growing jewelry brands. With India’s retail sector growing at a rate of 15-20% annually, Nishani is well-positioned to leverage these reforms to expand its footprint, both domestically and internationally, and contribute to India’s rise as a global hub for luxury jewelry.”

Kaushik Das, Founder & CEO of AAO NXT 

The Union Budget 2025 brings a wealth of opportunities for India’s OTT and entertainment sectors, with significant investments aimed at enhancing digital infrastructure. The allocation of ₹10.18 lakh crore for capital expenditure will drive connectivity across urban and rural areas, enabling OTT platforms to reach wider audiences. The government’s emphasis on digital literacy and financial inclusion will also help expand access to streaming services, fostering the growth of regional content and increasing viewership across the nation.

With a strong focus on 5G technology and digital public infrastructure, the budget lays the groundwork for more interactive, high-quality content delivery. These measures are set to benefit OTT platforms by improving streaming quality and enabling new forms of content consumption, such as augmented reality and virtual reality. Additionally, the government’s initiatives to support content creation through tax incentives will stimulate more investment in original, diverse content, providing a significant boost to the Indian entertainment ecosystem.

The budget’s commitment to sustainability and green technology aligns with the global shift towards eco-friendly media production. As internet connectivity improves, OTT platforms can enhance user experience and deliver seamless services across a larger geographic area. With these reforms, India’s OTT and entertainment industry is poised for growth, with greater access, diverse content, and a future-driven infrastructure that will redefine how we experience digital entertainment.

Devangana Mishra, Writer, CEO, Brain Bristle

Great work for the 8th year, Ms Sitharaman. Thank you! It’s great to see the budget from an educational, entrepreneurial and national lens. As a woman writer who runs a foundation for autism- my country, my country’s children and my family’s sustainability hold utmost importance to me. It’s great to see the Udaan Scheme and the centre stage focus on Bihar, but it’s excellent to see continued focus on skilling youth, growing the Saksham Anganwadi and Poshan 2.0 programme to provide support to over 8 crore children and marrying curriculum to workforce demands. While these numbers and need sound large, the work at the last leg will only see fruit if we can leverage technology well to upskill forces to the last leg. It’s also great to see a huge focus on AI and AI in healthcare management and a huge budget allocated to more tinkering labs, India is very hands on by culture, this is crucial. More seats and money allocated to India’s strengths- our IITs and medical schools is also a promising budgetary allocation.

It’s also really good to see a revised and invigorated focus on our women, farmers and medium-small enterprises which contribute to 45% of our exports and our startup machinery- with all the educational, export and skilling measures, it’ll help boost the middle classes a lot further in turn accelerating their daily wages and earnings. India’s patriarchy and archaic educational system trickles in all we do, so a continued focus on women, youth and agriculture is so important. Keeping the GYAN scheme on the forefront as an honest and important lever of growth could be highly beneficial for us and important in keeping us a growing economy.

The flatness of the Saturday stock market and moans of the opposition and wealthy income tax payers will soon quieten. Overall I’m a pleased worker, woman and citizen.

Experts Weigh In: Reactions to Budget 2025
Rutuparna Rath business
Experts Weigh In: Reactions to Budget 2025

Arun Prakash M, Founder , CEO of GUVI Geek Networks 

Believes the government’s emphasis on AI and upskilling will have a long-term favourable impact on Indian talents, “The growing emphasis on AI has been addressed well in the Union Government by inviting investments in AI for drug discovery. As India looks to advance its capabilities in AI, upskilling in relevant tech education will be imperative. The government’s decision to add broadband connections in government secondary schools to integrate digital learning, while also helping learners to understand the subjects better in their respective languages is commendable. Furthermore, the establishment of 5 national centres of excellence for upskilling to supplement Make for India and Make for the World will have long-term favourable implications on the future of millions of Indian talents, helping them to become critical contributors of the country’s bid to become a developed nation by 2047.”

Samir Jasuja, Founder and CEO of PropEquity

“The Budget’s focus on improving infrastructure through PPP projects and interest free loan to States for capital expenditure, setting up an Urban Challenge Fund of Rs 1 lakh crore for rejuvenation of Indian cities will improve the real estate activity in metro and tier 2 cities by encouraging developers to invest and partake in the development.

The announcement of zero tax for income up to 12 lakh under the new tax regime will give a big boost to consumption including spurring demand for homes.

SWAMIH 2.0 with an allocation of Rs 15,000 crore is a small yet welcome move considering that the government is targeting to complete 1 lakh units. The government must come up with simplified mechanism to allow bigger developers to take over these stalled units so as to expedite the completion of over 5 lakh units currently stalled.”

Peush Jain, MD-Commercial Leasing and Advisory

In a welcome move, the government in Budget 2025-26 announced the formulation of a national framework in areas like talent availability, infrastructure, building byelaws etc. as guidance to states for promoting Global Capability Centres in emerging tier 2 cities.

GCCs have been driving demand for office spaces and this move, alongside the government’s emphasis on improving liveability in Indian cities and Infrastructure development will go a long way in establishing India as a hub for Global Capacity Centre. This move will boost employment opportunities, creation of new office supplies and draw national level developers to these cities. The office sector growth is expected to stay buoyant with record leasing activity led by GCCs.

Vikrant Narang, Deputy CEO, Ambit Finvest

“The Union Budget introduced several transformative measures for MSMEs, signaling strong government commitment to support their growth. The revised MSME classification will encourage enterprises to scale, while enhanced credit access via increased credit guarantees, customized credit cards for micro-enterprises, and a new Fund of Funds will inject the much-needed growth capital into the MSME ecosystem. The focus on ease of doing business through regulatory reforms, targeted schemes for women entrepreneurs, and export incentives would further strengthen the sector. Direct Tax reforms boosting urban consumption and fiscal prudence also reaffirm the government’s commitment to sustainable and balanced economic growth.”

Dhiren Jatakia, Head Accounts ,  Finance Covestro 

The budget paves the way for sustainable growth, innovation, and a stronger manufacturing ecosystem in India. With key reforms in the power sector, MSME support, and maritime development, the budget fosters a business-friendly environment that enhances competitiveness on a global scale. It has touch based some key areas like transfer pricing, R&D, Tax etc. Covestro (India) applauds the government’s commitment to boost to manufacturing and long term economic development and looks forward to contributing through our social growth.

Partha Chatterjee, Dean of Academics, Professor of Economics

“This budget comes at the time when the growth rate in India has slowed down a notch and the uncertainty in the world is rising. This is quite a common-sense budget. The reduced income tax burden due to the new tax slabs is likely to boost consumption, particularly in the urban area. The different initiatives and schemes announced in the agriculture sector is likely to reduce risk of agricultural production and raise income in the rural area. That will boost consumption in the rural areas. Similarly, a focus on labor-intensive sectors like tourism is likely to boost income and consumption. There are a couple of announcements that are likely to benefit investment by MSMEs and startups. Raising the bar for classification criteria for MSMEs is a welcome step. Announcing a fund of funds for startups will boost that sector. While no details are yet available, a fund of funds for deep tech is also a good idea and can augur technological innovation in the country. This complements the announcement of ten thousand fellowships for technological research. However, what is disappointing is that it is limited to only IITs and IISc. We need a deepening of research across several universities and institutes – limiting the fellowship to only a few institutes is contrary to that.

The government’s commitment to reforms is reassuring, though the budget was short of details in this and omitted mention of certain crucial reforms like the labor market reforms. Finally, keeping fiscal deficit Overall, a sensible budget, which focuses on multiple fronts to boost growth rather than one big idea. That also means, much will depend on the details and implementation.”

Karthik Kondepudi, Partner at Herbochem

“The Union Budget 2025 shows a forward-thinking plan for India’s healthcare and nutraceutical industries. The government wants to grow medical education by adding 10,000 more UG and PG seats and helping set up Day Care Cancer Centres in district hospitals. This is a big step to make the healthcare system stronger. Also, better nutrition support under the Saksham Anganwadi and Poshan 2.0 plan will help fight malnutrition and boost preventive healthcare.

For nutraceuticals, the focus on boosting local production, research, and new ideas is good news. This comes at a time when more people want functional foods and dietary supplements. The planned policy support for clean-tech manufacturing and value addition will also open doors for local nutraceutical and health-tech companies.

Overall, this budget sets the stage for a stronger and more independent healthcare system, aligning with India’s ambition of becoming a global leader in preventive and integrative healthcare.”

Smitha Shetty, Regional Director APAC, Achilles Information Ltd

“Achilles welcomes the Indian government’s FY25 budget, which reinforces India’s position as a global manufacturing and export hub. Increased MSME credit limits and expanded classification will drive industrial growth, job creation, and innovation. Investments in clean technology manufacturing—solar, EV batteries, and wind turbines—mirror global sustainability trends, strengthening supply chains. Maritime and shipping sector incentives will enhance trade competitiveness. However, robust supply chain due diligence and ESG compliance are vital to mitigate risks. While this budget lays a strong foundation, its execution will determine India’s success in becoming a self-reliant, globally competitive manufacturing powerhouse”.

Udit Jain, Director, One Group

The Union Budget 2025-26 presents a visionary roadmap for India’s growth, with a strong emphasis on infrastructure development, urban reforms, and housing support. The Finance Minister has outlined bold proposals aimed at accelerating economic progress through Public-Private Partnerships (PPP), interest-free loans to states for capital expenditure, and incentives for governance and urban planning reforms. These measures reaffirm the government’s commitment to strengthening municipal services, optimizing urban land use, and enhancing nationwide infrastructure.

Additionally, the government’s decision to revise tax slabs and reduce tax rates is a welcome move that will lead to significant savings for taxpayers, particularly the middle-income group. At a time when rising living costs, inflation, and increasing household expenses are putting financial pressure on individuals, this relief will offer much-needed financial breathing space.

Beyond individual benefits, this measure is expected to have a broader economic impact by boosting disposable income and enhancing purchasing power. With more money in hand, households will be in a stronger financial position to service home loans and invest in real estate, driving higher demand for home buying. A stronger housing market will not only benefit homebuyers but also stimulate growth across allied industries such as construction, home décor, and banking, further fueling economic momentum.

Raoul Kapoor, Co-CEO, Andromeda Sales and Distribution Pvt Ltd

We welcome the Union Budget 2025-26, which presents a strategic roadmap for accelerated economic growth while offering much-needed relief to the middle class. The Finance Minister has introduced progressive tax reforms that are set to increase disposable income, fostering both financial stability and consumer spending.

With the revised income tax slabs and reduced tax rates, a rough estimate suggests that taxpayers could save up to ₹10,000 per month, depending on their income bracket. This significant boost in savings will enable individuals to better manage existing loans and enhance their loan eligibility, making homeownership and other large investments more accessible.

The ripple effect of increased disposable income will be felt across the retail loan industry, as more individuals will have the financial confidence to take on new loans, whether for housing, automobiles, or personal financing needs. This policy move is expected to strengthen the banking and NBFC sector, further driving economic momentum.

Jairam Sridharan, MD, Piramal Finance
For the past few years, the Government has been the main actor in driving GDP growth. This budget is an invitation from the government – for private consumption and MSME sector to step forward and take a lead. A prudent borrowing plan for next year, contained spending and adherence to fiscal discipline offers space to fast track a change in monetary policy stance. So overall – the budget lays the groundwork for a rate cut cycle to start, and offers mechanisms for consumption and private sector growth to pick up.
Bimal Kahndelwal, CEO at STT GDC India

“Budget 2025-2026 is a great step towards a promising and bountiful future, which emphasizes on India’s commitment towards growth, innovation, and sustainability. The focus on manufacturing, clean tech, and skilling will strengthen our digital and infrastructure backbone, fueling private sector investments and job creation. Moreover, the establishment of Centers of Excellence for AI by the government and significant interest-free financing support for state infrastructure provide a strong basis for digital development.

As a digital infrastructure leader and a leading data center solutions, we welcome the emphasis on AI, deep tech, and climate-friendly development, which aligns with our vision of a smarter and a greener future. These reforms will empower enterprises and ease out business operations propelling India’s digital economy to new heights.”

GP Hinduja, Chairman, Hinduja Group

“Boost Consumption to Revive Demand, Yet Remain Fiscally Responsible en route to Viksit Bharat. The Middle Class gets a significant tax relief after a decade to boost consumption and eventually revive demand is the Brahmastra FM has fired. Kudos to her for doing so while remaining fiscally responsible by targeting a fiscal deficit of 4.4%. A special focus has been on human-intensive sectors that will generate employment. FDI limit to 100% in Insurance and special impetus to the Renewables, including energy storage systems, are clear positives. It would have helped if the EV charging infrastructure could have been given an industry status. Maintaining Capex levels while lowering taxation is huge but needs more details. With all these moves, the government remains laser-focused on Viksit Bharat by 2047″.

Sarvagya Mishra, Founder & Director at Superbot

“The Union Budget 2025 announcement has touched upon pivotal aspects to push the next wave of growth in India. We particularly commend the announcement of the Centre of Excellence for AI In Education, to be established with an outlay of INR 500 CR. Furthermore, the move to set up the Deeptech Fund of Funds and establish 5 new IITs after 2015, is another significant move, directed at boosting innovation in the space of AI and Tech. We commend the budget for its forward-looking measures and look forward to contributing towards India’s emergence as a global leader in the space of AI, Tech, and Innovation. ”

Simranjeet Singh, Director, CYK Hospitalities

“The Union Budget 2025 marks the beginning of substantial financial reforms that are going to reshape the F&B consultancy and hospitality sectors. The expansion of credit guarantee coverage will provide better financial support for startups and small enterprises, reducing risks while paving the way for innovation. The strengthening of the role played by financial institutions will provide much-needed support toward funding early ventures to scale up quickly in the hospitality and food businesses.

The establishment of a dedicated startup credit ecosystem is a game changer, particularly for first-time women entrepreneurs and businesses from SC and backward communities, creating a larger scope of participation in the industry. In addition, simplifying access to credit could be a boon in itself, particularly with schemes such as the ₹2 crore loan initiative for women entrepreneurs that would encourage newer ventures and diversify and promote inclusivity in the F&B space.

It is in this context that the sector expects accelerated growth, decked in furtherance of enhancement of supply chains, going into the promotion of regional cuisines, and the development of the agriculture sector, all of which pave the way.  “

Priyadarshi Mohapatra, Founder & CEO – CureBay

“CureBay welcomes the Union Budget 2025’s emphasis on rural broadband and AI-driven healthcare innovation that will significantly enhance last-mile healthcare delivery. Strengthening PHCs with connectivity and expanding cancer care at district hospitals will bridge critical gaps in accessibility. The exemption on lifesaving drugs ensures affordability for patients battling severe illnesses.  Investments in AI technologies will help drive smarter, more efficient healthcare solutions. These steps reinforce India’s commitment to equitable healthcare, aligning with CureBay’s mission to make quality care accessible to all.”

Sebi Joseph, President, Otis India

This Budget lays a strong foundation for India’s next phase of growth, with a sharp focus on agriculture, infrastructural expansion, digital transformation, and sustainable development. The reforms on personal income tax are going to drive consumption. The vision of Sabka Vikas over the next five years will be instrumental in driving balanced growth across industries and steering India towards its larger goal of becoming a developed nation 100 years after independence in 2047.

The thrust to further ‘Make in India’ through a National manufacturing mission, building national centres of skilling, and centre of excellence for AI, are progressive measures. Encouraging private-public partnerships in building the infrastructure is commendable. Continued attention to enhance connectivity across the country through operationalisation of new airports will boost the economy. The urban challenger fund would create new city growth hubs.

The budget sets a confident path for India’s transformation. The initiatives will not only strengthen India’s position as a global economic force but also enable a smarter, more connected, and more inclusive urban landscape. It offers a clear roadmap—one that ensures India is not just preparing for the future but actively shaping it.

Vipul Shah, Chairman, GJEPC

“Union Budget presented by Hon. Finance Minister Smt. Nirmala Sitharaman puts India in the growth path to Viksit Bharat. The Budget reforms will help to realise India’s domestic growth potential and unveil a new trade roadmap to navigate global uncertainties.

GJEPC welcomes the recognition of exports as the 4th engine of growth and the new Export Promotion Mission with sectoral and ministerial targets, driven jointly by Union Commerce, Finance & MSME Ministries. This will facilitate easy access to export credit cross border and factor support to MSMEs to tackle non-tariff barriers in exports. GJEPC welcomes the digital public infrastructure, ‘BharatTradeNet’ (BTN) for international trade to be set-up as a unified platform for trade documentation and financing solutions.

GJEPC further welcomes the proposal of creating of new tariff items in Chapter 71 so as to distinguish precious metals – containing 99.9% or more by weight of silver, containing 99.5% or more by weight of gold, containing 99% or more by weight of platinum under headings 7106, 7108 and 7110 respectively. This move aligns with the representation made by GJEPC for addressing the issue of classification of alloys of Platinum (pre-dominantly containing gold), which was invariably leading to claim of unwarranted customs duty exemptions for import of Platinum under India-UAE CEPA .

Gem & Jewellery sector comprises of 85%-90% of MSMEs. The revision in classification criteria of MSMEs especially with those with turnover from Rs. 250 crore to Rs. 500 crore will help them achieve higher efficiencies of scale, technological upgradation and better access to capital. The extension of credit guarantee cover to MSMEs leading to additional credit of Rs. 1.5 lakh crore in the next 5 years will benefit and provide boost to the MSMEs in the sector.

The Government’s stable approach on duties and levies across gem & jewellery products will enhance ease of doing business. The Basic Customs duty rate has been reduced from 25% to 5% on platinum findings classified under 7113 will enable consumers to get a new product and increase affordable jewellery sales.

GJEPC welcomes the Government’s labour intensive focus enhancing productivity, quality manufacturing and global competitiveness. G & J industry is labour intensive with 5 million people employed in Exports. The announcement of National Manufacturing Mission & the National Centres of Excellence Skilling furthering ‘Make for India ‘Make for the World’ is positive and is set to have direct benefit to the sector.

GJEPC welcomes income tax relief incentives to boost consumer demand. Overall, Union Budget presented by Hon. Finance Minister Smt. Nirmala Sitharaman puts India in the growth path to Viksit Bharat. The Budget reforms will help to realise India’s domestic growth potential and unveil a new trade roadmap to navigate global uncertainties.

GJEPC remains committed to collaborating with the Government of India to ensure the sector continues to contribute significantly to the nation’s economy. Council requests the issuance of FAQs on Safe Harbour Taxation. We seek Hon. FM’s support for co-funding global diamond promotion campaigns, the inclusion of jewellery parks in the harmonised infrastructure list, and an Infrastructure Support Fund to develop a Gem Bourse in Jaipur.

GJEPC urges the Government to align regulations with global benchmarks, to set up a policy that promotes exports, innovation, use of technology, and incentivises sustainable practices.

Experts Respond to Budget 2025: Reactions and Insights
Rutuparna Rath business
Experts Respond to Budget 2025: Reactions and Insights

Anup Rau, MD & CEO, Future Generali India Insurance Company Limited

“The government’s move to hike the FDI limit to 100 per cent from the current 74 per cent will be instrumental in attracting fresh capital from overseas insurers, thereby securing robust growth for the insurance sector over the next two decades.

According to government data, since 2015, when the government liberalised the foreign direct investment, or FDI, norms, and allowed at first 49% FDI in 2015 and increased it to 74% in 2021 the sector has received close to Rs 54000 crore as FDI. The hike in FDI limit to 100 per cent announced by the Union Finance Minister, Nirmala Sitharaman, in her Budget speech on Saturday, will help provide a huge fill up to the sector.

Both the Indian economy and the insurance market hold immense appeal for international insurers. However, we have too few players for a country and economy of our size. The number of players servicing the Indian market currently is comparable to much smaller emerging markets such as Malaysia and South Africa. Developed markets on the other hand have a much broader and deeper insurance market – the United States has over 5,000 insurers, the United Kingdom around 400, and Singapore over 200.

This scarcity is partly due to the challenge that global insurers face in finding suitable local partners. With just over 60 insurers operating in both life and general insurance sectors, and many of them functioning as joint ventures, the shortage of capable and willing local partners is evident. Permitting 100 per cent FDI would be a game-changer, given its potential to address this issue”.

Sagar Kaushik, Associate Director, Growth, Propelld
“We would like to congratulate the Finance Minister for including transformative reforms to boost education accessibility for India’s youth. The increase in medical and other seats in medical institutes, targeted focus on Centre of Excellence for AI for education, the Atal Tinkering labs in government schools and skill development avenues are initiatives to help build India’s knowledge base – a crucial element of a robust economy. Personal tax reforms and removal of TCS for remittance on education purposes will help parents to save for their children’s education by investing prudently.”
Dhaval Radia, Chief Financial Officer (India), ZEISS Group
“It is encouraging to see the government take steps toward rationalizing income taxes, which will boost disposable income and drive consumption. The streamlining of TDS and TCS processes is another welcome move, reducing compliance burdens and improving ease of doing business. The continued focus on ‘Make in India,’ along with strong incentives for MSMEs, battery manufacturing, and electronics, will further accelerate India’s position as a global manufacturing hub. Additionally, the emphasis on fostering Global Capability Centers (GCCs) reinforces India’s role as a strategic hub for high-value innovation, R&D, and digital transformation. However, while these are positive steps, the budget leaves room for more robust healthcare reforms. Given the evolving healthcare needs of the country, greater investments and policy interventions are expected to ensure accessibility and innovation in medical technology.”
Amarjeet Singh Tak, Head of Research Microscopy Solutions, India and Neighboring Markets, ZEISS Group
“We commend the Union Budget 2025-26 for its strong focus on advancing education, research, and skill development. The establishment of National Centres of Excellence, expansion of medical college seats, and infrastructure upgrades at IITs are commendable steps that will significantly enhance academic and research capabilities. The emphasis on Artificial Intelligence through dedicated Centres of Excellence and global skilling partnerships will empower the youth with future-ready skills, positioning India as a global leader in innovation. These initiatives will not only drive scientific and technological advancements but also create a robust ecosystem for young talent to thrive. This forward-thinking approach will undoubtedly accelerate India’s journey towards becoming a knowledge powerhouse on the global stage.”
Anooshka Soham Bathwal, CEO , Founder of Dhanvesttor
In the Budget 2025-26, the government has outlined a clear focused path to Viksit Bharat. Four Engines – Agriculture, MSME, Investment, and Exports have been provided significance for this path, which it intends to fuel with the reforms and inclusive growth.

In line with this, the government has maintained its stance to support growth, investments, and inclusive growth in the Budget 2025-26. With the inclusion of popular measures such as a notable increase in tax free income limit and favorable revision of tax slabs, the finance minister has urged to drive consumption. This might act as positive for sectors driven by discretionary spending. Furthermore, comprehensive imputes to Agriculture with Dhan-Dhanya Krishi Yojana, boost to urban housing, startups and women continued to gain a notable space in the government’s budget considerations. Focus on Healthcare, Education, renewable energy and its infrastructure, and reforms are likely to boost performance of these players and compliance. In addition, while spend on Infrastructure seems optically flat at 11.21 L Cr, on revised budget estimates of FY25, it represents a hike of around 10%. However, this is still lower than our expectations. Spending on Defense also got a similar consideration.

While the government has focused more on the middle class and consumption in Budget 2025-26, it has compromised a bit on infrastructure spending, in our view. However, with its focus on improving compliance, reforms, spending in attentive areas, and fiscal discipline, the government has provided a balanced budget, in our view.

Navneet Ravikar, Chairman, Managing Director

“We are extremely delighted to see that the government has introduced a host of initiatives for the agriculture sector. Be it the introduction of Bihar Prime Minister Dhan-Dhaanya Krishi Yojana, enhancing credit through Kisan Credit Cards (KCC), creating a National Mission on High Yielding Seeds, Mission for Cotton Productivity, setting up Makhana Board in Bihar, or driving Aatmanirbharta in pulses with the launch a 6-year mission with special focus on Tur, Urad and Masoor, the government has covered a wide area in this year’s budget. Low productivity has always been a challenge for Indian agriculture and hence the government has taken wholesome steps to tackle this while ensuring sustainable practices in farming. However, these initiatives need a lot of coordination at multiple levels to drive maximum benefits. In addition, the decision to allow 100% FDI in insurance will drive innovation in crop insurance, disaster management and climate risk”.

Girish Tanti, Vice Chairman, Suzlon

“The Government budget seems to be a significant step towards achieving India’s ambitious energy goals. By strengthening Aatmanirbhar Bharat across manufacturing and agriculture, with a focus on clean tech, wind, solar, EV, and battery storage, the budget aims to accelerate self-reliance in wind and solar manufacturing. The National Manufacturing Mission’s targeted support for all renewable energy sources is a welcome move, as it reinforces India’s commitment to a level playing field and ambitious energy goals. The expected outcomes are promising: surpassing the 500 GW target and creating nearly 3 million green jobs. Additionally, incentives for electricity distribution reforms and intra-state transmission upgrades will likely improve the financial health of power companies and enable better grid integration of renewables. This comprehensive approach should have a positive impact on India’s economy and population.”

“The key word is Eco-System : the nation cannot rely on just individual solutions to achieve its green transition at lowest cost to customers. It requires a judicious mix of wind, solar, batteries and other non-fossil technologies, together with distribution reforms. And for national security, we need to build this expertise locally, requiring the build-out of all these industries at scale. We are happy that this budget recognises this need. Suzlon is keen to work with the government and together with our fellow industrial groups to realise this vision.”

Jeenendra Bhandari, Chairman of JITO Incubation,  Innovation Foundation

With China aggressively expanding its AI capabilities and the U.S. maintaining its dominance, India cannot afford to lag behind. Deep tech is no longer an option; it is the need of the hour. The government’s commitment—allocating ₹20,000 crore for private-sector-driven R&D and proposing a Deep Tech Fund—signals a crucial shift toward fostering homegrown innovation. With alternative investment funds already receiving commitments of over ₹91,000 crore and an additional ₹10,000 crore Fund of Funds on the way, we have a unique opportunity to build world-class startups in AI, quantum computing, and advanced manufacturing.

Gerald Jaideep, CEO, Medvarsity
“The recent budget underscores a transformative vision for India’s healthcare and education ecosystems. The establishment of Centers of Excellence in AI for education, coupled with the aggressive expansion of medical seats, reflects a dual commitment to innovation and capacity-building.

For the healthcare edtech sector, this budget opens avenues to collaborate with institutions in curriculum design, AI-driven training modules, and competency-based certifications. The future lies in synergizing policy ambition with industry expertise to build a workforce that is not only larger but also future-ready, adaptive, and globally competitive.

India has been aggressively developing its healthcare facilities, with India’s doctor-patient ratio (1:834) surpassing the WHO’s 1:1,000 benchmark, but the story changes when we compare the ratio from urban to rural. This proposed addition of 75,000 medical seats over five years is a critical step toward bridging India’s doctor-patient ratio in rural regions, and its success hinges on ensuring faculty development, infrastructure readiness, and equitable distribution of opportunities.

Similarly. the government’s plan to set up 200 day-care cancer centres will boost healthcare accessibility and create a demand for specialized oncology training. Medvarsity will play a crucial role in equipping healthcare professionals with advanced oncology skills to ensure high-quality cancer care.

The Budget 2025’s emphasis on promoting medical tourism and the ‘Heal in India’ initiative presents immense opportunities for India’s healthcare sector. With a focus on enhancing healthcare infrastructure and simplifying visa norms, India is set to become a global hub for medical treatments. Medvarsity is well-positioned to support this growth by providing healthcare professionals with specialized training and certifications that meet international standards, ensuring high-quality care for medical tourists.”

Rajeev Singh, Managing Director, BenQ India and South Asia

“We are encouraged by the government’s announcement of the National Manufacturing Mission, which represents a significant step towards enhancing the ‘Make in India’ initiative. This mission’s focus on supporting small, medium, and large industries, along with its emphasis on clean technology manufacturing, aligns perfectly with our commitment to sustainability and innovation.

Further, the decision to increase the basic customs duty on interactive flat panel displays is a crucial step in addressing the inverted duty structure. This move will foster local manufacturing and support the growing demand for advanced educational technologies, ultimately enhancing innovation in learning environments.

Moreover, the announcement of five National Centers of Excellence for Skilling as well as the setup of 50,000 adult tinkering labs in government schools presents a significant opportunity to integrate advanced technologies, such as interactive flat panel displays (IFP), into the educational framework. These centers will not only equip our youth with essential skills required for manufacturing under the ‘Make in India’ initiative but also leverage global expertise to design curricula that meet industry needs.

The establishment of a Centre of Excellence for AI in education with a ₹500 crore investment is another vital step towards preparing our youth for future challenges. By fostering skills in AI and related technologies, we can enhance employability and drive innovation across various sectors.

Thus, we believe that with the right policy support and a robust ecosystem for electronic components, India can establish itself as a global hub for advanced technologies. We look forward to collaborating with the government and industry stakeholders to capitalize on these opportunities and contribute to India’s digital transformation.”

Ravi Kunwar, VP and CEO, HMD India and APAC

“The Union Budget 2025-26 presents encouraging prospects for the technology and digital infrastructure sector. We applaud the Indian Government for reinforcing India’s vision for self-reliance and innovation-driven growth in electronics manufacturing. Reducing BCD to 5% on open cell components and including 28 additional capital goods for mobile battery fabrication will strengthen local manufacturing and further generate employment in the sector. The formation of the National Manufacturing Mission and investment in skilling initiatives will contribute to India’s global competitiveness and facilitate the commitment to climate-friendly development. These measures, coupled with tax reforms and incentives, create a strong foundation for sustainable growth in India’s electronics ecosystem.”

Gerald Jaideep, CEO, Medvarsity

“The recent budget underscores a transformative vision for India’s healthcare and education ecosystems. The establishment of Centers of Excellence in AI for education, coupled with the aggressive expansion of medical seats, reflects a dual commitment to innovation and capacity-building.

For the healthcare edtech sector, this budget opens avenues to collaborate with institutions in curriculum design, AI-driven training modules, and competency-based certifications. The future lies in synergizing policy ambition with industry expertise to build a workforce that is not only larger but also future-ready, adaptive, and globally competitive.

India has been aggressively developing its healthcare facilities, with India’s doctor-patient ratio (1:834) surpassing the WHO’s 1:1,000 benchmark, but the story changes when we compare the ratio from urban to rural. This proposed addition of 75,000 medical seats over five years is a critical step toward bridging India’s doctor-patient ratio in rural regions, and its success hinges on ensuring faculty development, infrastructure readiness, and equitable distribution of opportunities.

Similarly. the government’s plan to set up 200 daycare cancer centers will boost healthcare accessibility and create a demand for specialized oncology training. Medvarsity will play a crucial role in equipping healthcare professionals with advanced oncology skills to ensure high-quality cancer care.

The Budget 2025’s emphasis on promoting medical tourism and the ‘Heal in India’ initiative presents immense opportunities for India’s healthcare sector. With a focus on enhancing healthcare infrastructure and simplifying visa norms, India is set to become a global hub for medical treatments. Medvarsity is well-positioned to support this growth by providing healthcare professionals with specialized training and certifications that meet international standards, ensuring high-quality care for medical tourists.”

Priyanka Sharma, Head of MONAKA Software R&D Unit

“Today’s Union Budget 2025, focused on a ‘Viksit Bharat,’ presents a powerful vision for India’s IT industry and its future workforce. I am particularly excited by the emphasis on skilling and upskilling initiatives. The establishment of five National Centers of Excellence, leveraging global partnerships, will directly address the growing demand for skilled professionals in areas crucial to building a tech-for-good India. The expansion of IITs and the new AI Center of Excellence for education will further strengthen this talent pipeline, ensuring India remains at the forefront of technological innovation. The budget’s commitment to a Deep Tech Fund of Funds and the PM Research Fellowship scheme is equally significant. These initiatives will provide critical support for next-generation startups and research institutions, fostering a vibrant ecosystem of innovation and attracting top talent. The focus on supporting first-time entrepreneurs, particularly women is commendable and will contribute to a more inclusive and equitable growth tory. These investments in education, research, and entrepreneurship will not only benefit the IT sector but will drive India’s overall economic transformation, creating a more prosperous and inclusive future for all. This budget signals a clear commitment to building a skilled and empowered workforce, ready to seize the opportunities of the future.”

CP Khandelwal, CEO, PR Innovation, Brand Custodian of Amazfit India

“The Budget 2025’s tech-forward policies signal India’s ambition to dominate the global electronics value chain. Eliminating BCD on open cell components for displays isn’t just a tariff tweak—it’s a strategic unlock. By making India a cost-competitive hub for advanced display manufacturing, we’re poised to cut reliance on imports for LCD/LED panels, which currently account for 80% of the $7 billion display market. This will catalyze local R&D in next-gen technologies like OLED and MicroLED, critical for smartphones, wearables, and smart TVs.

Equally transformative is the lithium-ion battery push. Adding 28 capital goods for mobile batteries will fast-track domestic cell manufacturing, addressing a critical gap where India imports 90% of its lithium-ion needs. For the wearables and smartphone ecosystem, this means shorter supply chains, faster innovation cycles, and sustainable cost efficiencies. India’s future will be driven by innovation, self-reliance, and a bold vision to lead the global tech revolution.”

Srividya Kannan, CEO and Founder, Avaali Solutions

“A key decision by the government to drive the digital economy is the formation of a national framework for promoting Global Capability Centers (GCCs) in emerging Tier-II cities. This move is set to boost employment growth and position India as a hub for high-value global services.

The government’s plan to establish 50,000 Atal Tinkering Labs is a visionary step toward fostering a culture of innovation and entrepreneurship across the country. By integrating interventions at schools, universities, research institutions, MSMEs, and industries, this initiative will create a robust ecosystem for technological advancement. It is encouraging to see the government’s strategic focus on the digital economy and its commitment to building a future-ready workforce.

Investment in AI Centers of Excellence (CoEs) in education is a positive step toward the adoption of emerging technologies in key industries. Additionally, the expansion of infrastructure in the five IITs established after 2014, including increasing capacity for 6,500 more students and enhancing hostel and other facilities at IIT Patna, is a significant move toward strengthening India’s tech workforce.

It is also promising to see the government extending support to the domestic equipment industry under the Make-in-India and National Manufacturing Mission. This initiative will empower local businesses and strengthen India’s position as a leader in next-generation manufacturing and technology. Moreover, it will create new opportunities for global electronic equipment companies to establish their captive centers in India.

Also it is extremely heartening to see increase in the limits for classification of MSME and additional credit offerings to them. This will immensely help boost the Indian entrepreneurial ecosystem.”

Ujjwal Sarin, Founder – Nu Republic

“The Union Budget’s National Manufacturing Mission is a pivotal step in strengthening ‘Make in India’ through policy support and clean tech innovation. With a strong focus on domestic manufacturing of solar PV cells, EV batteries, and high-voltage equipment, India is set to lead in sustainable technology.

Addressing the inverted duty structure, the increase in customs duty on interactive flat panel displays will boost local production and investment in advanced display technologies. Additionally, the establishment of five National Centers of Excellence for Skilling and a ₹500 crore AI Centre of Excellence in education will bridge the industry-academia gap, fostering a future-ready workforce.

These initiatives reinforce India’s path to becoming a global leader in advanced manufacturing and digital innovation. We welcome these efforts and look forward to collaborating with stakeholders to drive technological self-reliance and growth.”

Bruce Keith, Co founder CEO, InvestorAi

“While the Budget started with a big bang quite literally, the Honourable Finance Minister has announced a string of boosters for the Indian startup sector. The extensions to the loan programs make sense in the context of micro enterprises. However, the crucial fund of funds of Rs 10,000 crore will play a key role in boosting domestic capital in the startup sector. The announcement on deep tech fund, while details are awaited, it should be viewed through the DeepSeek lens of what can be done with relatively small amounts of capital when provided to agile and creative teams. We expect the VC ecosystem to bring velocity and momentum into funding these enterprises.

I was especially delighted to hear about the enhancing the “spirit of curiosity and innovation “ with IIT expansions of capacity and centres of excellence for AI education – talent availability is a necessary part of continuing our growth”.

Sridhar Parthasarathy, Co-Founder & General Partner at Bluehill.VC

The government’s announcement of a another Fund of Funds (FoF) worth ₹10,000 crore in the budget is strong commitment to cultivate an entrepreneurial ecosystem and an acknowledgement  of Alternative Investment Funds (AIFs) in channeling these resources effectively.

While equity funding through AIFs is essential,  there is an  urgent need for debt financing for startups. The introduction of a credit guarantee will help startups achieve a balanced mix of equity and debt funding, making their growth more sustainable.

Additionally, the plan for a new Deep Tech Fund of Funds is a crucial step towards advancing deep tech innovation in India. This signals a clear intent from the govt to position India strongly in the global AI race, which is much needed boost for deep tech startups specially in AI and space tech”.

Ankur Mittal, CO-Founder, Inflection Point Ventures 

Our ask was a better credit platform and framework for startups and to that extent this is a welcome step. This will allow them to grow and build sustainable businesses and not be dependent on just equity infusion to grow. Their capacity to attract follow-on growth capital will be further strengthened by the additional cash, which will also help them make important investments in operations, personnel, and technology. This action boosts job creation, accelerates startup growth, and creates long-term value in the ecosystem by resolving financial limitations”.
Dinesh Arjun, CEO Cofounder, Raptee.HV
“Innovation and technology are the cornerstones of every developed nation, and India’s vision for Viksit Bharat rightly prioritizes these pillars. The Finance Minister’s focus on nurturing and investing in innovation is a commendable step toward accelerating new technologies that will shape our future. The allocation of a Deep Tech Fund will further strengthen India’s industrial ecosystem, fostering a globally competitive, tech-driven economy.
A crucial boost to the EV industry comes with the exemption of Li-Ion batteries and other capital goods, which will significantly reduce battery costs and encourage further investment in domestic battery manufacturing. Given that batteries make up 30-40% of an EV’s cost, this move will make EVs more affordable and accessible to consumers, driving mass adoption across two-wheelers, three-wheelers, and four-wheelers alike. By addressing a fundamental cost barrier, this initiative lays a strong foundation for the future of electric mobility in India. We are confident that these strategic measures will have a lasting positive impact on the EV ecosystem in the months to come.”
Pankit Desai, Co-founder & CEO, Sequretek
“With the unveiling of the Union Budget 2025, significant advancements in artificial intelligence come into focus, particularly with the creation of National Centers of Excellence (COEs) in AI. This shift signals a groundbreaking transition from AI being a mere boardroom discussion to becoming a central budgetary focus, complete with serious financial commitments. By earmarking funds specifically for deep tech, the government is actively fostering an environment ripe for innovation, acknowledging the high-risk nature of such investments, and putting resources right where they’re most needed. This policy shift could elevate India’s skilled tech workforce, facilitated by increased funding and programs such as “Train the Trainers,” ensuring capable instructors for burgeoning student populations. The expansion of broadband access further ensures that students even in remote areas can emerge technologically proficient, broadening the talent pool to Tier 3 and 4 cities and rural India.
The FM also announced a 5-year extension of the startup incorporation period, allowing more startups, including those established before January 2013, to enjoy benefits like extended tax concessions—a vital move as startups often require longer timelines to become profitable.  The decriminalization of TDS and TCS further underscores the government’s focus on supporting MSMEs.  In addition, easing the tax deduction and collection structures simplifies financial management for startups, alleviating cash flow concerns and enabling companies to operate more smoothly.”
Union Budget 2025-26: ICC Organizes Live Viewing Event
Rutuparna Rath business
Union Budget 2025-26: ICC Organizes Live Viewing Event

Kolkata, 1st February 2025: Indian Chamber of Commerce (ICC) organised Live Viewing of Union Budget 2025-26 to discuss the standpoints of the chamber. The session witnessed valuable insights from Abhyuday Jindal, President, Indian Chamber of Commerce (Virtually); Parthiv Vikram Neotia, Vice President, Indian Chamber of Commerce; Pallav Gupta, Head-Taxation (Retired), ITC Limited; Gaurav Jalan, Director, New Arena Holding Pvt. Ltd.; Rupali Basu, President, Group Brand Research & Management, RPSG Group; Apurva Salarpuria, Director, Salarpuria Properties Pvt. Ltd.; Nayantara Palchoudhuri, Director, Washabarie Tea Co Pvt Ltd; Sanjay K Jain, Managing Director, TT Ltd; Ashish Chhawchharia, Practice Head-Eastern Region, Grant Thornton India LLP; Prashant Jalan, Managing Director, Bengal Nestor’s Industries Ltd.; and Dr. Rajeev Singh, Director General, Indian Chamber of Commerce.

Commenting on the overall Budget session, Abhyuday Jindal, President, Indian Chamber of Commerce, said, “The 2025 budget is a forward-thinking financial blueprint, prioritising sustainable development, economic growth and social welfare with a clear vision for Viksit Bharat 2047. It places strong emphasis on tax reforms, infrastructure development and dedicated support for MSMEs, which will not only strengthen business management but also generate employment opportunities. A key highlight is the increased spending across crucial sectors such as healthcare, education, the toy industry and renewable energy. This strategic allocation will have a direct and positive impact on the lives of citizens. Additionally, notable measures such as the enhanced credit guarantee for MSMEs, the introduction of customised credit cards for micro-enterprises and the addition of 10,000 new seats in medical colleges serve as strong building blocks for the future. The budget also prioritises infrastructure spending, including initiatives like the UDAAN scheme and shipbuilding, which will further boost economic growth. Overall, this is a comprehensive and inclusive financial plan that holistically addresses the needs of various stakeholders—citizens, businesses, and the environment. This budget marks a significant step toward realizing India’s long-term development goals and building a Viksit Bharat by 2047. It is a progressive and welcome move in the right direction.”

After reviewing the budget, Parthiv Vikram Neotia, Vice President, Indian Chamber of Commerce, said, “The 2025 budget reinforces the vision of India for India, emphasising trust between the government and its citizens. Key themes include income tax reforms, reduced compliance burdens and support for MSMEs, all of which will boost business efficiency, create jobs and strengthen India’s global trade position. The decriminalisation of TDS and TCS further reflects the government’s commitment to ease regulations. Tax relief for incomes up to ₹12 lakh will drive consumption, savings and investments. Increased spending on healthcare—such as upgrading 200 district centres for oncology care and reducing import costs for essential drugs—will enhance accessibility and affordability. Infrastructure remains a priority, with the expansion of the UDAN scheme to 120 new destinations and the development of 50 new tourism hubs, positioning India as a global travel destination. The budget also focuses on energy security with significant investments in renewable energy and nuclear power to ensure affordability and sustainability. Education and skill development receive a boost with increased medical and IIT seats, along with expanded upskilling initiatives to prepare India’s workforce for the future. A strong emphasis on research and innovation will drive long-term economic independence, reducing reliance on foreign technologies. Overall, this is a well-balanced and forward-thinking budget—pro-business, pro-individual and pro-citizen—paving the way for a Viksit Bharat 2047. As a chamber, we welcome this progressive roadmap.”

Dr. Rajeev Singh, Director General, Indian Chamber of Commerce, said, “This budget is very pragmatic, trust based, consumption driven yet highly futuristic with focus on sustainable growth, Technology, clean fuel etc. Provisions have been made to boost domestic consumption, disposable income to give fillip to the manufacturing cycle including MSMEs, Agriculture, Logistics as the Prime Factors. Skill development, social security and Healthcare initiatives has also been taken care of. I am sure, this budget will lay the foundation of a developed nation with inclusive development.”

Post-Budget 2025: What Experts Are Saying
Rutuparna Rath business
Post-Budget 2025: What Experts Are Saying

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.”

Post-Budget 2025: Insights and Reactions from Experts
Rutuparna Rath business
Post-Budget 2025: Insights and Reactions from Experts

Mr. Prashant Sharma, President, NAREDCO Maharashtra

“The Union Budget 2025-26 has emphasized economic growth and inclusive development, but the absence of specific measures for the real estate sector is a missed opportunity. While the ₹1 lakh crore Urban Challenge Fund is a step in the right direction to transform cities into growth hubs, the sector was expecting direct incentives such as industry status, single-window clearances, and increased tax benefits for homebuyers.

The increase in the income tax exemption limit to ₹12 lakh per year is a significant relief for the middle class. This will not only improve disposable incomes but also provide a much-needed boost to affordable and mid-income housing projects, encouraging homeownership. Moreover, the rationalization of TDS and the relief provided to the middle class through tax reductions will further boost spending power, indirectly benefiting housing demand.

A notable highlight is the progress under SWAMIH which has completed 50,000 homes in stressed projects and will deliver 40,000 more in 2025, easing financial strain on homebuyers. The ₹15,000 crore SWAMIH Fund 2 will accelerate the completion of another one lakh homes, benefiting middle-class families and boosting market sentiment.

Additionally, the announcement of a new Fund of Funds (FoF) with an expanded scope and fresh contribution of ₹10,000 crore will have a spillover effect on the start-up ecosystem and may drive innovation in PropTech, enhancing technology-driven solutions in real estate and improving efficiency in project execution and homebuying experiences.

However, we urge the government to consider targeted interventions to address liquidity concerns, expedite approvals, and create a more robust framework for real estate investments.”

Mr. Rohan Khatau, Director, CCI Projects

“The increased infrastructure spending and PPP initiatives are welcome moves that will facilitate urban development. However, the real estate sector was expecting much-needed reforms in stamp duty rationalization, higher home loan interest deductions, and incentives for rental housing. While the rationalization of TDS and higher exemptions for the middle class will provide liquidity, a more direct stimulus to the sector could have accelerated investment and demand. We hope the government considers mid-year policy interventions to support real estate growth.”

Mr. Vikas Sutaria, Founder, Irah Lifespace

“The budget once again misses the opportunity to introduce dedicated incentives for NRIs and HNIs, who play a crucial role in the luxury housing segment. Streamlining taxation policies and easing investment norms for these investors could have significantly boosted investments in this segment. The rationalization of TDS and tax relief for the middle class will improve disposable incomes, indirectly benefiting housing demand. The Urban Challenge Fund will help in urban renewal, but specific measures to encourage luxury and second-home investments were needed. While the government’s commitment to infrastructure and PPP-driven development is commendable, the lack of direct incentives for real estate is disappointing.”

Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers

“The budget reinforces the government’s vision for ‘Viksit Bharat’ and economic growth, yet the real estate sector was hoping for direct incentives such as industry status and tax rebates for developers and homebuyers. The Urban Challenge Fund and infrastructure-focused PPP projects will aid urban development, while the allocation for urban development is expected to catalyze growth in housing and commercial projects. Although the middle-class tax relief will support consumer spending, a comprehensive housing policy was required to address supply and demand challenges in the sector.”

Mr Samyak Jain, Director, Siddha Group

“The Union Budget 2025 marks a pivotal moment for the real estate sector, ushering in a new era of opportunity for homebuyers and developers alike. The revamped tax structure will enhance disposable incomes, empowering the middle class—especially the rising aspirational segment—to invest in homeownership with greater confidence. We anticipate a surge in housing demand, fueled by increased consumer spending power and long-term savings. This progressive move is set to accelerate industry growth, driving economic activity and strengthening the real estate landscape. The expanding middle class presents a significant opportunity for the sector, reinforcing the need for accessible, high-quality housing solutions. We remain optimistic about the transformative impact this will have on the industry. The Urban Challenge Fund is also a welcome move.”

Mr. Abhishek Jain, COO, Satellite Developers Private Limited (SDPL)

“The budget’s focus on infrastructure and PPP-driven urban transformation is a positive step, but the real estate industry was expecting more direct support. The rationalization of TDS and tax benefits for the middle class will improve disposable incomes, which could have an indirect positive impact on housing demand. However, critical issues such as liquidity constraints, high taxation, and policy bottlenecks remain unaddressed. A more comprehensive real estate policy would have further accelerated sectoral growth.”

Budget 2025 Reactions: Expert Views and Analysis
Rutuparna Rath business
Budget 2025 Reactions: Expert Views and Analysis

Dr. Silpi Sahoo, Chairperson, SAI International Education Group

The Union Budget 2025-26 is a transformative leap in the education sector with headway on AI-driven learning, skill development, and digital inclusion. The new policy also announces the establishment of the Centre of Excellence for Artificial Intelligence in Education, with an allocation of ₹500 crore, to make India lead the world in AI-enabled education and innovation. This announcement marks the transformative step for integrating leading edge technology into learning, encouraging innovation and access to education.

Government commitment in making broadbands available to each government secondary school, establishment of 50,000 Atal Tinkering Labs to instill scientific temper, and Bharatiya Bhasha Pushtak scheme for the digitization of Indian languages’ books would bring education closer to common citizens.

In addition, the setting up of five National Centres for Excellence in Skilling and the National Institute of Food Technology and Management in Bihar will lead to greater employability and industry readiness. Expansion of five IITs, including IIT Patna, signals renewed efforts at innovation and research. Overall, these moves collectively strengthen the vision of the future-ready education system of India, one which blends technology, inclusivity, and skill building.

The initiative by the government on offering 10000 PM Research fellowship in the next 5 years at IITs and IISc, will empower more students from the lower economic strata to get higher education and pursue their careers in academics within the science and technology departments. It will give talent a scope to flourish beyond the trammel of economic constraints.

Shashank Avadhani, Co-founder, and CEO at Alyve Health

Alyve Health welcomes the Union Budget 2025, which marks a major step towards building a healthier India. The government’s focus on promoting medical tourism and the Heal in India initiative, along with streamlined visa norms, presents a significant growth opportunity for our healthcare sector and aligns with our vision of making India a global health and wellness hub.
We are encouraged by the increase in FDI in the insurance sector to 100%, which will foster competition and expand access to essential health services, ensuring that individuals receive necessary care without financial strain.
The emphasis on a program for vegetables and fruits reflects growing awareness of nutritional needs, supporting Alyve Health’s core philosophy of promoting healthier lifestyles.
The exemption of 36 lifesaving drugs from customs duty is a critical move for those battling cancer and rare diseases, improving access to essential medicines. Additionally, the inclusion of 1 crore gig workers in the PM Jan Arogya Yojana ensures that a crucial segment of the workforce receives vital healthcare.
The increased funding for the National Health Mission and mental health initiatives will address healthcare disparities, particularly for the ‘missing middle class. These measures pave the way for a more inclusive and sustainable healthcare system. Alyve Health is eager to collaborate with stakeholders to leverage these advancements and drive better health outcomes for all.
Prasad Shejale, Founder and CEO at LS Digital
“The Union Budget’s forward-looking approach to Artificial Intelligence, with the establishment of a Center of Excellence (CoE) for AI, aligns with India’s vision of becoming a global digital powerhouse. At LS Digital, we believe AI is not just a tool but a transformative force driving Digital Business Transformation (DBT). With AI at the helm, we are leveraging its capabilities across research, prediction, and generation to unlock new possibilities for businesses, enhance decision-making, and drive intelligent automation.

 The push for AI-led innovation, coupled with initiatives to streamline global operations and taxation frameworks, will accelerate enterprise adoption of digital technologies, making India a key hub for advanced AI-driven solutions. As businesses embrace AI to optimize efficiency and fuel innovation, LS Digital remains committed to pioneering cutting-edge solutions that shape the future of digital transformation.”

Mr. Venugopal Ganganna, Co-founder and CIO, LS Digital

“We welcome Budget 2025-26 as a forward-looking and growth-oriented budget that places significant emphasis on human capital development and digital transformation. The announcement of five National Centres of Excellence for Skilling demonstrates the government’s commitment to preparing India’s youth for global opportunities.

Additionally, the ₹500 crore commitment to an AI Centre of Excellence for Education demonstrates the nation’s serious intent towards technological innovation in learning. At LS Digital, empowering companies with AI-driven skilling solutions has been one of our core commitments, and the initiatives announced today will provide a significant boost to our mission. As a leader in digital business transformation, I am confident that these strategic initiatives will accelerate India’s transition to a knowledge economy, fostering talent development and digital innovation. At the same time, they will empower organizations with the competitive edge needed to thrive in today’s rapidly evolving digital landscape.”

Lalit Ahuja, CEO ANSR

“The proposed framework for expanding Global Capability Centers into tier-2 cities introduced by the Finance Minister marks a strategic pivot in India’s tech evolution and the recognition of the immense potential of GCCs as a force multiplier to our economic growth. With 80% of global firms yet to establish GCCs in India, this initiative unlocks tremendous potential for transforming India’s attractiveness as the global GCC capital, while creating millions of skilled jobs across the country’s emerging urban centers.

As a global market leader in the GCC industry, ANSR is a huge proponent of expansion of GCC markets to emerging Tier-2 cities. ANSR has partnered with organizations such as KDEM, GIFT City and several state governments to amplify the GCC expansion to Tier-2 cities

 It’s truly heartening to see the Finance Minister acknowledge the GCC industry in this year’s budget. This recognition marks a pivotal moment for our sector, poised to break through the sound barrier of growth and emerge as a vital component of India’s IT landscape. The proposed national framework will be instrumental in unlocking the potential of tier 2 cities, driving the next wave of growth, and enabling us to build a robust talent supply engine that fuels innovation and excellence.”

Vikram Ahuja, Co-Founder ANSR

“The Union Budget 2025 marks a significant step forward for Global Capability Centers (GCCs) with the expansion of safe harbor rules and a structured approach to determining arm’s length pricing for international transactions. This move is set to create a more predictable and efficient regulatory environment, reducing compliance complexities and minimizing litigation risks. By fostering greater ease of doing business, India strengthens its position as the global hub for GCCs, driving sustained growth and competitiveness in the years ahead.”

Girish Rowjee, Co-founder & CEO, greytHR

“The Union Budget 2025 reinforces India’s commitment to inclusive development, economic acceleration, and technological advancement. It sets a powerful momentum for India’s MSMEs and workforce transformation. With the credit guarantee cover doubling to ₹10 crore and MSME investment and turnover limits expanding (2.5X and 2X), small businesses now have greater financial flexibility to scale and innovate. The ₹10,000 crore Fund of Funds, five National Centres of Excellence for Skilling, and AI-driven education initiatives underscore India’s commitment to building a future-ready workforce.

The government’s move to remove income tax up to ₹12 lakhs is a crucial step in recognizing the middle class’s contribution to India’s economic growth. We also look forward to further tax reforms that support economic relief and financial well-being in the upcoming income tax bill.

Overall, the expectation is that these strategic reforms will accelerate entrepreneurship, enhance employability, and position India as a global hub for talent and innovation. At greytHR, we welcome the focus on MSME reforms, AI development, and tax reforms. We remain committed to driving innovation in HR tech, simplifying compliance, and empowering businesses to navigate this evolving landscape with confidence.”

Pradeep Aggarwal, Chairman, Signature Global (India) Ltd.

“The Union Budget 2025 is a game-changer, reinforcing India’s commitment to inclusive and sustainable urban growth. The SWAMIH Fund 2 with ₹15,000 crore will accelerate the completion of stalled housing projects, bringing relief to over one lakh homebuyers. The ₹1 lakh crore Urban Challenge Fund will play a pivotal role in transforming cities into vibrant growth hubs, ensuring balanced regional development.

The masterstroke of direct tax reform—exempting income up to ₹12 lakh—will significantly boost disposable income, increasing affordability for homebuyers and driving real estate demand. Additionally, the government’s thrust on PPP-driven infrastructure with a structured three-year project pipeline will accelerate urban expansion, unlocking new opportunities for real estate and housing. These progressive reforms align with India’s vision of ‘Sabka Vikas’, fostering a robust ecosystem for homebuyers, developers, and investors alike.”

Expert Insights on Budget 2025: Key Reactions
Neel Achary business
Expert Insights on Budget 2025: Key Reactions

Mr. Girish Rowjee, Co-founder & CEO, greytHR “The Union Budget 2025 reinforces India’s commitment to inclusive development, economic acceleration, and technological advancement. It sets a powerful momentum for India’s MSMEs and workforce transformation. With the credit guarantee cover doubling to ₹10 crore and MSME investment and turnover limits expanding (2.5X and 2X), small businesses now […]

The post Expert Insights on Budget 2025: Key Reactions first appeared on Business News Week.