Corporate houses in the city seem to have lapped up the Union Budget 2025. Harshavardhan Neotia, chairman Ambuja Neotia Group, for instance, said, “The budget proposals of finance minister Nirmala Sitharaman has provided the vision of a new India story, with a governance that is light touch and trusting, a regulatory regime that is encouraging for industry and policies that are focused on job creation. The incentives for hotels, travel and tourism are really encouraging as it helps building hotels in key 50 destinations and allows benefits on funding from the infrastructure HML. Overall I see a growth and consumption oriented budget.”

Alok Garodia, MD, Jupiter International, said, “Today’s Budget reinforces the government’s commitment to sustainable growth and clean technology manufacturing, with a decisive push for self-reliance in renewable energy through a new clean tech mission under Make in India. This initiative will be instrumental in building a strong domestic ecosystem for solar manufacturing.”

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Sahil Saharia, CEO, Bengal Shristi Infrastructure Development Ltd, on his part, said, “The introduction of the Rs 1 lakh crore Urban Challenge Fund is a welcome step toward transforming cities into dynamic growth hubs. This initiative will accelerate urban redevelopment, improve infrastructure, and enhance water and sanitation facilities, making cities more sustainable and livable.”

Hailing the Centre’s focus on the education sector, Manoshi Roychowdhury, co-chairperson, Techno India Group, said, “The Union Budget 2025 has introduced several transformative initiatives for the education sector, aiming to enhance accessibility, skill development, and technological integration. The Bharatiya Bhasha Pustak Scheme will provide digital-form Indian language books to help students better understand their subjects in their native languages, promoting linguistic diversity. The establishment of National Centres of Excellence for skilling, in collaboration with global experts, will equip youth with the skills required for advanced manufacturing, driving the Make for India vision. The expansion of IIT infrastructure, including the addition of 6,500 student seats and enhanced facilities across various IITs, will further strengthen India’s premier institutes of higher learning.”

Kolkata’s realty segment, echoed positive sentiments as well. Rishi Jain, MD, Jain Group, said, “By adding 120 more locations, UDAAN will boost local economies and create jobs. Higher disposable income and a more straightforward tax system will make homes more affordable, which will increase demand for real estate and spur economic expansion.”

Sanjay Jain, managing director, Siddha Group, said, “The Budget 2025 has set a transformative course by empowering the middle class with enhanced disposable income, thus leaving additional cash-flow with aspirational homebuyers.”

Mahesh Agarwal, managing director, Purti Realty, said, “The decision to allow the annual value of a self-occupied property to be considered nil, without stringent conditions, is a much-needed relief for homeowners. Additionally, raising the tax exemption limit to Rs 12 lakh empowers the middle-class, the backbone of India’s housing market, by enhancing disposable income and encouraging homeownership. Furthermore, the government’s support to states with a Rs 1.5 lakh crore, 50-year, interest-free loan for capital expenditure and reforms will accelerate infrastructure growth. The launch of the Rs 10 lakh crore Asset Monetization Plan (2025-30) to reinvest in new projects reflects a strong commitment to long-term development.”