Ritesh Mastipuram, Founder and MD, Ridhira Group
‘The Union Budget 2025 lays a strong foundation for sustainable growth across real estate, infrastructure, and wellness-driven developments. With increased investments in urban infrastructure, affordable housing, and transit-oriented growth, the budget fosters a future-ready real estate ecosystem that aligns with evolving investor expectations. The emphasis on connectivity, green energy, and digital transformation in property transactions is set to enhance ease of doing business and attract long-term capital.
Beyond real estate and infrastructure, the budget’s focus on healthcare and wellness initiatives complements the rising demand for holistic living spaces. The push for sustainable urbanization, green buildings, and wellness-centric developments will reshape residential and commercial spaces, ensuring a healthier and more balanced way of life. These measures not only strengthen the investment outlook but also position India as a leader in integrating wellness with real estate and infrastructure, driving long-term value creation.’
Ashish Singhal, Co-founder CoinSwitch and Lemonn
Finance Minister Nirmala Sitharaman’s Union Budget 2025-26 introduces significant measures aimed at boosting economic growth and providing relief to taxpayers — especially the middle class.
Zero income tax for up to Rs 12 lakh of earnings, and further rebate in taxes, is a major relief for the middle class, and we welcome it. It could improve disposable income, stimulating consumer demand and contributing to overall economic momentum.
The rationalization of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) thresholds is a commendable step towards simplifying the tax regime, reducing compliance burden for individuals and businesses alike.
These initiatives reflect a balanced approach to fiscal policy, addressing both the need for revenue generation and the importance of taxpayer welfare.
We were hopeful that the government would take steps to rationalize the tax structure on VDAs, but unfortunately, that has not materialized. However, the inclusion of VDA governance in the Finance Bill is a positive step, bringing in more regulatory clarity, reflecting the growing adoption of digital assets and acknowledging the impact they are making on the economy.
Devam Sardana, Business Head, Lemonn
The government has brilliantly treaded the fine line between tax breaks, with exemption up to inr 12L and managing fiscal deficit ( est. 4.4% of GDP) vs growth expectations. There has been tremendous focus on critical industries like exports ( setting up of Bharat Trade Network ), exemption of duty for battery manufacturers, FDI limit increase in insurance, completion of stalled housing projects.
Saahil Goel – MD & CEO, Shiprocket
The transformation of India Post’s 1.5 lakh rural post offices, backed by a 2.4 lakh-strong workforce, marks a historic shift in Bharat’s logistics and economic landscape. This initiative will bridge the urban-rural divide, ensuring seamless access to financial, digital, and logistical services in tier 2 and 3 cities. With public-private partnerships and digitization at its core, eCommerce will extend beyond urban centers, empowering local businesses, artisans, and entrepreneurs.
The government’s MSME-focused budget measures further reinforce this vision. Enhancing credit guarantees, raising MSME classification thresholds, and extending tax exemptions provide crucial financial support to small enterprises. The introduction of customized credit cards with a ₹5 lakh limit for micro-enterprises and an expanded fund of funds program with ₹91,000 crores committed to AIFs signal strong intent toward fostering entrepreneurship and job creation.
These strategic interventions will not only strengthen Bharat’s economic backbone but also drive inclusive growth, ensuring that self-help groups, women entrepreneurs, and emerging start-ups can thrive. By integrating logistics expansion with robust financial support for MSMEs, the government is laying the foundation for a more self-reliant and prosperous Bharat.
Dr RG Agarwal, Chair Agribusiness Committee
We highly appreciate the government’s initiative to make India the food basket of the world. The Dhan Dhaniya Krishi Yojana for 1.7 crore farmers in 100 low-productivity districts is a monumental step towards rural prosperity. The Edible Oil Mission, enabling farmers to enter into procurement agreements with agencies like NAFED and NCCF, will provide price security, enhance domestic oilseed production, and enhance India’s export strength. The government’s move to enhance vegetable production to match growing consumption is also commendable.
This budget is a significant step towards a stronger, Make in India agriculture sector boost spirit of farmers. The National Mission on High Yielding Seeds, storage facilities after production, KCC loans for 7.7 crore farmers increased from ₹3 Lacs to ₹5 Lacs and the creation of the Makhana Board in Bihar are the important steps to improve agricultural productivity and support farmers. Also, the announcement of a 6-year mission for ‘Atmanirbharta’ in pulses, including procurement agreements for toor, urad, and masoor, is a testament to the government’s commitment to making the agricultural sector stronger and the farmers prosperous.
While many positive initiatives have been put before us we asked the government to revisit and make it 5% GST on essential agricultural inputs.
These initiatives are in line with our vision of a self-reliant, prosperous, and sustainable agricultural future. We thank the government for these forward-looking decisions that will spur agricultural development and boost India’s path towards Aatmanirbhar Krishi.
Hemant Jain, President PHDCCI
The changes announced in Budget 2025 in respect of investment and turnover limits for classification of MSMEs would benefit those few thousands of SMEs which are about to cross the existing limits. As per PIB release dated 29th August, 2024 out of 4.91 crore registered MSMEs on Udyam registration Portal, 4.83 crore were classified as Micro enterprises. SMEs put together accounted for only 7.84 lacs units and out of these some units which are sitting near the upper threshold would benefit by the increase in the criteria. While it is a welcome measure by the Government its impact would primarily be limited to SMEs àt the upper layer.
Shreevats Jaipuria, Chair Education Committee, PHDCCI
Finance Minister Nirmala Sitharaman’s recommendations in the Union Budget 2025-26 on education are far-reaching and impactful. The overall reduction in income tax rates will give greater spending power to families which will be able to access high quality education.
Among the other positive steps for this sector are increase in the tax exemption period of charitable institutions and trusts from 5 years to 10 years which will attract greater investments from the private sector. Private sector institutions play a large role in education sector of the country, and the government has taken a positive step in increasing the level of trust in them through this step.
Artificial intelligence has the potential to revolutionise education and improve the quality and accessibility of education. A centre of excellence on artificial intelligence in education at an investment of Rs 500 crore will provide the much-needed thrust to technology adoption and AI. Through this the government has planned for long term adoption of the technology in education sector in India.
Atal Tinkering Labs in 50,000 government schools and broadband connectivity in government secondary schools will provide further boost to innovation and digital literacy.
Dr. PN Arora, Chair – Health Committee, PHDCCI,
“We applaud the government’s efforts for priortising and strengthening India’s healthcare sector in Budget 2025-26. The announcement of 200 daycare cancer centres in district hospitals in FY 2025-26 is a landmark decision in India’s fight against cancer. This initiative will significantly improve early detection and treatment accessibility, particularly in underserved regions. Additionally, the inclusion of 36 life-saving drugs in the customs duty exemption list and concessional duty for manufacturing cancer medicines will make treatment more affordable for patients. Further, the government’s focus on medical education expansion by adding 10,000 medical seats in 2025-26, and the aim of adding 75,000 seats in the next five years presents a broader vision to strengthen the healthcare workforce and promote innovation in healthcare delivery. We anticipate further reforms in the coming years to make healthcare facilities more affordable and accessible to all.”
Varun Babbar, Managing Director – India, Qlik
“The Finance Minister’s announcement of a Centre of Excellence in AI for Education with an outlay of ₹500 crore is a commendable step toward strengthening India’s AI ecosystem. Qlik’s recent AI survey highlights that 79% of AI decision-makers see India leading in AI skills within five years, yet challenges like talent shortages, governance complexities, and trust issues continue to slow AI adoption.
This initiative can play a pivotal role in bridging the AI skills gap, equipping future professionals with industry-relevant expertise, and fostering innovation. Additionally, the expansion of Atal Tinkering Labs, five National Centres of Excellence for skilling, and the National Framework for GCCs in tier-2 cities will create new opportunities for high-skilled jobs and strengthen India’s digital economy.
By focusing on upskilling, research, and responsible AI deployment, these initiatives will not only boost India’s global AI competitiveness but also empower businesses with skilled talent to accelerate AI-driven transformation. At Qlik, we actively support this vision through our Qlik Academic Program, which provides students with hands-on analytics training to enhance employability and industry readiness.
As India moves towards a $1 trillion digital economy, collaborative efforts between the government, businesses, and educational institutions will be crucial in building a future-ready workforce and ensuring AI drives meaningful transformation across industries.”
Amith Agarwal, Whole Time Director & CEO
“The recognition of agriculture as the first engine of growth and MSMEs as the second growth engine in the Union Budget 2025 reflects the government’s strategic vision for India’s economic development.
The comprehensive reforms announced, particularly the Prime Minister Dhan Dhanya Krishi Yojana, demonstrate a holistic approach to agricultural transformation through enhanced irrigation, credit access, and skill development across 100 agri districts, benefiting 1.7 crore farmers, while initiatives like the National Mission on High Yielding Seeds and Cotton Productivity Mission create a robust framework for sustainable agricultural growth.
As part of the StarAgri Group, we are well-positioned to support this proposed reform through our technology led integrated agricultural value-chain services such as procurement, trade facilitation, warehousing, collateral management, financing solutions, digital marketplace and technology based value added services, to farmers, traders, millers, processors and corporates. With our network of 2,189 warehouses which enables us to create and benefit from a networking effect and our technology driven integrated platform offering key services to the agricultural sector, we remain committed to redefining the agricultural landscape, providing transparency, efficiency, and security to all stakeholders involved.”
Umesh Uttamchandani, Managing Director, Dev Accelerator Limited (DevX)
“The Union Budget 2025 demonstrates a strong commitment to fostering India’s startup ecosystem and urban infrastructure development. The extension of the startup incorporation benefits by five years showcases the government’s continued support for entrepreneurial growth. The introduction of the Urban Challenge Fund with ₹1 lakh crore allocation for ‘Cities as Growth Hubs’ and ‘Creative Redevelopment of Cities’ presents exciting opportunities for the managed office space sector.
At DevX, we are particularly encouraged by the government’s focus on developing tier 2 cities through the National Framework for GCC (Global Capability Centres). As a provider of modern workspace solutions, we see this as an opportunity to expand our footprint and support the growing demand for flexible, technology-enabled office spaces across emerging business hubs. The establishment of a Centre of Excellence for AI in education, with a ₹500 crore outlay, is a significant step towards developing a future-ready workforce. This investment in AI talent development will be crucial for businesses alike as we continue to integrate cutting-edge technologies into our workspaces and services.”
Ronak Morbia, Chairman & Managing Director, ArisInfra Solutions Ltd
“The Union Budget 2025 reinforces India’s commitment to infrastructure development through Public-Private Partnerships (PPP), with each ministry proposing three PPP projects and ₹1.5 lakh crore allocated as interest-free loans for capital expenditure. The provision of term loans up to ₹20 crore for MSMEs is a crucial step in fostering financial inclusion and enabling small businesses to scale operations.
“We welcome these reforms that align with our mission of streamlining the construction materials supply chain. Through our vendor network and digital procurement platform, we connect over 1,600 suppliers (as of September 30, 2024), including MSMEs, with customers engaged in large infrastructure and real estate projects, helping MSMEs expand their reach. Additionally, with India’s infrastructure spending projected to exceed ₹143 lakh crore by 2030, we remain committed to leveraging our expertise in construction materials procurement and logistics to support sustainable growth. We believe that the government’s focus on infrastructure and credit access will further strengthen the role of MSMEs, paving the way for economic resilience and expansion.”
