Union Finance Minister Nirmala Sitharaman has presented the Union Budget 2025 highlighting that Agriculture, MSME, Investment, and Exports are engines in the journey to Viksit Bharat.
She said these engines will use reforms as fuel, guided by the spirit of inclusivity.
With development measures focusing on the poor (Garib), youth, farmers (Annadata) and women (Nari), the Union Budget brought a slew of measures for common man as well as the industry overall.
Welcoming the Union Budget, the Institute of Chartered Accountants of India (ICAI) said the Budget focuses on ease of doing business, promoting domestic manufacturing and position India as a more competitive player in global trade, supporting economic resilience and growth.
ICAI President Ranjeet Kumar Agarwal said, “Suggestions by ICAI in Pre-Budget memorandum regarding the finance bill 2025, phasing out of alternative tax regime, rationalisation of TDS and TCS regime, exemption of withdrawal from NSS and taxation of business trusts have also been accepted.”
ICAI also said deeming the annual value of two self-occupied house property as nil instead of erstwhile one, is a great move.
PHD Chamber of Commerce and Industry (PHDCCI) hailed the Budget as a transformative step towards realising the vision of ‘Viksit Bharat,’ with a strong focus on the middle class, MSMEs, private investments, and employment generation.
Speaking on the Budget, Hemant Jain, President, PHDCCI, said, “The focus on the Middle class and MSMEs will enhance consumption and production segments, boost private investments and create employment opportunities.”
“The key focus areas including taxation, power, urban development, mining, the financial sector, and regulatory reforms will drive growth, improve infrastructure, enhance governance, and ensure sustainable development across various sectors”, said Jain.
He highlighted that they will serve as major catalysts for growth, infrastructure improvement, and sustainable development.
The Confederation of Indian Industry (CII), emphasised the budget’s role in creating economic activity and employment, particularly in agriculture, MSMEs, and export-oriented sectors.
Sanjiv Puri, President of CII said, “There is a very clear investment in key areas that are crucial for India’s growth, such as human capital development, urban infrastructure, and future-facing technologies.”
He also praised the government’s commitment to climate transition, including its emphasis on nuclear energy, innovation, and ease of doing business.
“A major highlight is the collaboration with states on sectoral interventions and incentivisation towards reforms. The next phase of reforms needs to happen at the state level, and this budget has set the stage for that,” Puri added.
Joyshree Das Verma, National President of FICCI FLO, praised the government’s focus on empowering marginalized communities, particularly women.
She said the introduction of term loans for 5 lakh women from SC/ST communities is a commendable step toward financial inclusion, providing critical resources for entrepreneurship.
Verma also lauded the Saksham Anganwadi and Poshan 2.0 programmes for their role in improving nutrition for vulnerable children, mothers, and adolescent girls.