Mr. Dilip Modi, Founder & CEO of Spice Money
"We commend the government’s strong focus on the holistic development of rural India in the Union Budget 2025-26. The initiative to transform India Post into a public logistics organisation is a significant step toward strengthening rural commerce and boosting entrepreneurship opportunities. With 1.5 lakh rural post offices and 2.4 lakh Dak Sevaks, this initiative will serve the needs of women entrepreneurs, self-help groups, MSMEs, and even large businesses. The presence of Dak Sevaks at the last mile will play a crucial role in driving employment-led growth and ensuring seamless access to financial and logistical services for underserved communities.
The launch of customized credit cards with a INR 5 lakh limit for micro-enterprises and a new scheme providing term loans of up to INR 2 crore for first-time women entrepreneurs from underrepresented communities will be game changers in promoting financial inclusion and inclusive development. These initiatives, along with support for MSMEs and investment in innovation, will drive grassroots entrepreneurship and economic resilience.
At Spice Money, our focus has always been on empowering rural India on the back of our extensive network of 14 lakh digital nanopreneurs (Spice Money Adhikaris), bringing essential banking services closer to the underserved. We believe that public-private partnerships are key to solving the challenges of rural India and accelerating job creation. By collaborating with the government and harnessing technology, we can build a truly inclusive and self-reliant Bharat.”
Arijeet Talapatra, CEO at 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 female labour participation.
K V Srinivasan, Executive Director and CEO, Profectus Capital Private Limited:
“The budget has provided a significant boost to the MSME sector by significantly raising the thresholds for capital investment and turnover criteria for classification as Micro, Small, or Medium enterprises. Combined with the enhanced credit guarantee scheme, this move is expected to drive increased capital investment. This would help MSMEs to modernise and expand their operations. Improved credit flow for startups is also a very welcome move. With the personal tax burden also coming down sharply, the increased consumption power should also help increase the overall demand for goods and services from MSMEs”.
Divyesh Savaliya, Chairman & MD, Onix Renewable Limited:
"The Union Budget 2025 has set the stage for the self-reliance-led growth in the country's renewable energy sector in line with the goal to achieve 500 GW of non-fossil fuel energy by 2030. With a strong emphasis on domestic value addition, the government's focus on solar PV cells, EV batteries, motors, and controllers will significantly reduce reliance on imports and foster self-sufficiency in critical clean technologies. The introduction of the National Manufacturing Mission to support domestic production of EV batteries and solar panels is a strategic move that will not only enhance India's manufacturing capabilities but also drive cost efficiencies, supply chain resilience, and global competitiveness.
By encouraging backward integration and technology-driven advancements, these measures will catalyze innovation, attract investments, and create a robust ecosystem for clean tech manufacturing. As India moves towards its net-zero goals, such initiatives will play a crucial role in accelerating renewable energy adoption, ensuring energy security and diversifying the renewable energy portfolio."
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."
Sagar Kaushik, Associate Director, Growth, Propelld Said - "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."
Dhruv Shringi, Co-Founder & CEO, Yatra Online Limited:
"The Union Budget 2025 reflects a clear commitment and lays a strong foundation for boosting India’s tourism sector through targeted and impactful initiatives, and we commend the government's efforts in this area, particularly in making it easier for tourists to visit important religious and cultural sites.
The government has done a great job of allocating more funds towards infrastructure development, and expanding the UDAN scheme to 120 new destinations, including greenfield airports in Bihar. This will significantly improve regional connectivity, unlocking the tourism potential of emerging Tier 2 and 3 cities and driving the next wave of air travel growth. Enhanced infrastructure, including hotel integration in the harmonized scheme and development of top destinations in partnership with states, will further enrich the travel experience.
We applaud the focus on medical tourism, simplified e-visas, and support for homestays, which will create new opportunities for travelers and entrepreneurs. At Yatra, we're committed to supporting this growth by leveraging our network and technology to offer competitive fares, curated travel packages, and empowered local homestays. We look forward to collaborating with the government and stakeholders to realize the full potential of these initiatives and drive the continued growth of India's tourism sector."
"The Union Budget 2025 takes a balanced approach by strengthening rural infrastructure, manufacturing, and consumer spending—three critical pillars for the FMCG sector. Investments in rural development and job creation will boost economic activity and drive higher consumption, opening new opportunities for market expansion. The National Manufacturing Mission is a strong step toward enhancing domestic production, reducing import dependencies, and improving cost efficiencies. Additionally, tax reforms benefiting the middle class will increase disposable income, further fueling demand across essential and aspirational FMCG categories.
Overall, the Budget lays a strong foundation for a more consumption-driven economy, creating significant growth opportunities for the FMCG industry." - Aasif Malbari, Chief Financial Officer - Godrej Consumer Products Ltd.
"The Union Budget 2025 reaffirms India's growth trajectory towards a 'Viksit Bharat' with a strong focus on inclusive development and economic expansion. Exemption of income tax payable for income up to ₹12 lakh, coupled with increasing the TDS threshold on rent from ₹2.4 lakh to ₹6 lakh, will significantly enhance disposable income, boosting housing demand and overall consumption. This budget supports economic stability and positive market sentiment; however, the sector was expecting additional measures, such as further incentives to boost demand for affordable housing, a higher threshold for home loan interest exemptions which has remained stagnant for a long time and a revision in the definition of affordable housing based on a minimum dwelling unit size instead of a uniform ₹45 lakh value across the country. These steps could have provided an added stimulus to the market and improved housing affordability.
CREDAI welcomes the announcement of allocating the ₹1 lakh crore Urban Challenge Fund, which will enable better urban planning, while the new UDAN scheme will enhance regional connectivity and catalyse real estate and infrastructure growth. The ₹15,000 crore SWAMIH Fund 2 is a crucial step towards expediting stalled housing projects, ensuring homebuyers' interests are safeguarded. Additionally, allowing benefits for two self-occupied properties without conditions will further boost homeownership.
The sector remains optimistic that the various announcements made by the Finance Minister today will be followed by a Repo rate cut later this month, further strengthening homebuyer sentiment and investment in real estate. With these progressive measures, India remains firmly on track to become the world's third-largest economy by 2027", said Mr. Boman Irani, President, CREDAI NATIONAL.
Vineet Mittal, Chairman, Avaada Group:
"As we embrace the Union Budget 2025, I am pleased by the bold vision it sets for our nation's future. More than a financial plan, it is a transformative blueprint for infrastructure, manufacturing, and power—key drivers of India's growth.
The ₹1.5 lakh crore in long-term PPP-based infrastructure investment, coupled with the ₹1 lakh crore Urban Challenge Fund, signals a new era of urban modernization and economic resilience.
Strategic initiatives like global manufacturing clusters and clean tech advancements under the National Manufacturing Mission will position India as a global industrial powerhouse. By promoting domestic production of critical components like wind turbines ,solar components ,electrolyzers and batteries, we're fostering innovation and sustainable growth.
In the power sector, reforms promoting inter-state efficiencies and the Nuclear Energy Mission targeting 100 GW through indigenous small modular reactors are setting the foundation for a resilient, low-carbon energy future.
Additionally, the ₹20,000 crore allocation to promote innovation in partnership with the private sector marks a pivotal step in positioning India as the next global innovation hub. This investment will drive advancements in renewables, green hydrogen, and advanced manufacturing, reinforcing India's leadership in technology and sustainability.
At Avaada, we stand committed to supporting these visionary reforms, driving forward sustainable development and inclusive prosperity. Together, let's illuminate a path of transformation, innovation, and enduring growth for India."
Mr. Ajinkya Firodia, Vice-chairman and Managing Director of Kinetic Engineering Ltd:
"The Union Budget 2025-26 brings several encouraging measures for the automotive and electric vehicle (EV) sectors. The tax exemptions for lithium battery production, removal of Basic Customs Duty on critical minerals, and the duty-free import of key EV battery production equipment demonstrate the government's strong commitment to strengthening domestic manufacturing and reducing import dependency.
These measures are aimed at enhancing India's position as a global hub for electric mobility and clean energy technologies. By fostering local innovation and ensuring cost efficiency, this budget paves the way for rapid industry growth and greater adoption of electric vehicles.
With a strong policy push and a focus on self-reliance, India is poised to become a leader in the global mobility revolution. These initiatives will not only drive domestic growth but also position Indian manufacturers as key players in the global EV supply chain, making India a powerhouse in the future of sustainable transportation."
Nikunj Agarwal, Head - Fund Raise, Finance, Alliances, Propelld, said: "We welcome the transformative reforms to improve accessibility and affordability in the education sector. Seat increase in medical institutes, increased focus on AI learning, removal of TCS on Education Loans up to Rs 10 Lakhs and increased funding will boost the education lending industry. It will provide more opportunities for students, relieve parents struggling with education inflation costs and drive more investments within the industry."
Akshat Jain, CEO of KLK Ventures:
The government's allocation of ₹1,500 crore to the solar power grid segment in the 2025 budget is a commendable step towards a sustainable future. This investment not only accelerates our transition to renewable energy but also underscores the nation's commitment to environmental stewardship. At KLK Ventures, we are inspired by this initiative and remain dedicated to pioneering innovative solar solutions that align with India's green energy goals."
India's Union Budget 2025-26, Md. Sajid Khan, Director-India, ACCA (Association of Chartered Certified Accountants), said, "The focus on AI in education and skill development in this year's budget is a much-needed step towards preparing India's workforce for the future. The establishment of a dedicated Centre of Excellence in AI for education, along with the five National Centres for Excellence in Skilling, marks a progressive step towards equipping learners with future-ready capabilities. However, the real challenge lies not just in setting up these institutions but in ensuring that they provide the right mix of technical knowledge, financial literacy, and real-world problem-solving skills.
While MSMEs continue to be a crucial pillar of economic growth, their long-term success hinges on access to financial knowledge and a workforce adept at navigating emerging technologies. We firmly believe that integrating financial education with digital fluency and continuous learning will be key to shaping workforce ready professionals. Bridging this gap between education and employability is not just an economic necessity—it is the cornerstone of sustainable progress."
Anish Srikrishna, CEO, TimesPro:
"The Education Budget 2025 represents a pivotal moment in our nation's journey towards fostering a future-ready workforce through strategic investments in education, skill development and technological research. The establishment of AI Centres of Excellence and the expansion of IITs mark a significant step toward positioning India as a global leader in technology and innovation. These initiatives, coupled with 10,000 fellowships for technological research in IITs and IISc, will not only strengthen India's academic and research ecosystem but also equip students with cutting-edge skills required for emerging industries. Additionally, the expansion of medical education with 75,000 new seats will play a crucial role in addressing the growing demand for healthcare professionals and strengthening the country's healthcare infrastructure.
The launch of five National Centres for Excellence in Skilling, in collaboration with global partners, will ensure India's youth are equipped with industry-relevant expertise. The rollout of 50,000 Atal Tinkering Labs and initiatives like the Bharatiya Bhasha Pushtak scheme further exemplify a forward-looking strategy that aligns seamlessly with the vision of a 'Viksit Bharat.' At TimesPro, we view these strategic interventions as more than policy measures; they are the foundation of a dynamic learning ecosystem that will redefine education and skill development in India. By nurturing innovation and ensuring adaptability in the face of rapid technological advancements, we are paving the way for a knowledge-driven future and strengthening the nation's global competitiveness."
Sri Charan Lakkaraju, Founder & CEO, Student Tribe:
"The budget announcements by the government are a huge step forward in building a more skilled and inclusive workforce, ready to compete on the global stage. The focus on expanding skilling opportunities and forming global partnerships is exactly what students need to stay ahead in an ever-changing world. With plans to enhance infrastructure at top institutions like IITs, introduce AI-driven learning, and expand Atal Tinkering Labs in government schools, we are equipping students not just for today's jobs but for leadership roles of tomorrow.
Creation of five National Centres of Excellence for Skilling, across the globe would ensure that learners gain industry-aligned expertise, mostly in high growth sectors. Better technical and vocational training and implementation of the scheme for promoting 'Bharatiya Bhasha Pustak' means that learning became more inclusive, more accessible for everybody.
Recognition of gig workers with identity cards, healthcare under PM Jan Arogya Yojana, and financial inclusion through the revamped PM SVANidhi scheme are also important steps to secure their well-being and livelihoods. It not only acknowledges the contribution of the gig economy but also empowers students who take up freelancing and part-time opportunities.
Dr. Dhruv Galgotia, CEO, Galgotias University:
"This budget is as if the Finance Minister and Prime Minister had heard the problems thoroughly. And on the day of the budget, the speech involved solutions which could uplift several socio-economic indicators.
It is heartening to note that the Finance Minister placed education among the pillars for Viksit Bharat. Specific policies such as 50,000 Atal tinkering labs in the next five years; a CoE for AI in education at an outlay of Rs 500 crores; capacity expansion of IITs, prove that the budget is aligned to deal with an uncertain future.
What makes this budget more interesting is the removal of TCS on remittance under LRS for purpose of education especially those financed by loan from a financial institution. This could resolve challenges for thousands of students who depend on financial assistance."
Pratik Kamdar, CEO & Co-Founder, Neuron Energy:
"The Union Budget 2025's announcements for the EV and auto sectors center on raising the sector's value and demand, which is a positive move. India's effort to produce clean tech energy will be accelerated as a result. A significant boost to the EV battery industry; the National Manufacturing Mission's coverage of MSME represents a step forward in bolstering domestic EV battery production. The FM's plan to exclude lithium-ion batteries from basic customs duty will even increase the cost-effectiveness and flexibility of the supply chain. More EV adoption will also be supported by stronger energy infrastructure, particularly for EV charging stations, which will be fueled by power sector reforms and state incentives. Viksit Bharat's focus on nuclear energy and the exemption of 35 capital goods for the production of EV batteries show a strategic vision for a sustainable future. It will boost the industry further and grow the battery and EV auto industries. Together, these programs create an atmosphere that is conducive to clean-tech innovation, job growth, and a more robust EV ecosystem."
Mr. Aman Choudhary, Executive Director—Marketing at Anmol Industries Limited, applauds the 2025 Union Budget for its progressive measures to boost the FMCG sector and strengthen rural demand. The government's continued focus on infrastructure, job creation, and MSME support will drive consumption and economic growth. Additionally, logistics and supply chain efficiency investments will enhance distribution networks, benefiting both manufacturers and consumers. This Budget sets the stage for sustained growth, empowering businesses like ours to innovate and expand in a dynamic market.
"Mr. Kushal Patel, MD, Axita Cotton, commends the 2025 Union Budget's focus on enhancing farm productivity, particularly the five-year mission to boost cotton production. This initiative aligns with our commitment to quality and innovation in the cotton industry. The introduction of a new scheme to facilitate term loans for MSMEs to purchase machinery and equipment without collateral is a game-changer. With guarantees of up to ₹100 crore through a dedicated fund, this will empower small businesses, enhance competitiveness, and drive growth across the cotton value chain."
Mr. Anand Sri Ganesh, CEO, NSRCEL:
"The government's commitment to inclusive growth through entrepreneurship is truly commendable. While the ₹10,000 crore allocated for a fund of funds for AIFs is a welcome boost for risk capital, and particularly beneficial for VC-investable startups, a more holistic approach to ecosystem development might be considered to further support the creation and commercialization of innovation, especially for those higher-risk, non-VC-friendly models. This ₹10,000 crore catalytic fund, with its focus on deep tech, is an interesting development and should encourage greater VC participation, incentivizing them to raise and invest additional capital from their own sources."
Eswara Rao Nandam, CEO and Founder of Polymatech Electronics,
"The Government of India's commitment to empowering MSMEs and driving technological upgradation is a commendable step towards positioning India as a global manufacturing hub. The enhanced credit facilities and increased investment and turnover limits for MSMEs will provide significant support for businesses, helping them scale efficiently and foster innovation. These initiatives will undoubtedly boost India's export potential and drive growth in sectors such as opto-semiconductors, 5G, and LED lighting solutions."
"Empowering Education with Technology and Skills"
Satan Digital applauds the government's forward-thinking approach in the Union Budget 2024-25, especially its focus on education, employment, and skill development. With ₹1.48 lakh crore allocated to these vital sectors, the government is paving the way for a future-ready workforce.
While the push for tech-driven productivity and narrowing inequalities is a step in the right direction, we're excited about the potential of incorporating more artificial intelligence (AI) into education to improve learning outcomes. The government's goal to skill 20 lakh youth over the next five years is a significant move in strengthening India's workforce and boosting economic growth.
As an EdTech leader, we're dedicated to supporting these efforts by offering innovative learning solutions. We look forward to more public-private collaborations that will help bring advanced technologies into education, ensuring growth that is both inclusive and forward-thinking for the nation."
Mr. Roshan Aslam, Co-founder & CEO of GoSats, believes the Union Budget 2025 offers a unique outlook for the growth of Indian startup ecosystem, as he said, "The Union Budget 2025 outlines a clearly defined future for India's growing startup ecosystem by extending critical policies. The announcement of an additional ₹10,000 crore Fund of Funds will be a critical boost for the growth of India's startup ecosystem in FY 25-26. As the investment limit for MSME classifications are made 2.5 times and the turnover limits doubled, this will help the financial viability of startup businesses in the country. As easier credit lines are extended to MSMEs, it will provide the essential confidence to grow and generate employment opportunities, directly contributing towards the growth of the Indian Economy."
Mr. Ravi Mittal, Founder and CEO of QuackQuack, believes that the Union Budget 2025-2026 takes a strong step toward strengthening India's startup ecosystem with the additional ₹10,000 crore Fund of Funds. Access to capital remains one of the biggest obstacles for emerging businesses, and this fresh infusion of funds will provide critical support for startups to innovate, expand, and create jobs. Additionally, the new scheme for first-time women, SC, and ST entrepreneurs is a commendable move toward fostering inclusivity and diversity in the entrepreneurial landscape. At QuackQuack, we understand the challenges of building something from the ground up, and we believe such initiatives will empower more founders to take bold steps toward their dreams. This is a positive push toward making India a global hub for innovation and entrepreneurship.
Ms. Manveen Ssharma, Founder, Pinq Polka - D2C Startup :
As a woman entrepreneur, today's announcement is incredibly meaningful—not just for me, but for the entire women entrepreneurship community. The ₹10,000 crore 'Women Entrepreneurship Fund' is a game-changer for women-led businesses like Pinq Polka, offering not just much-needed capital but also mentorship and guidance, which are often hard to come by.
The ₹100 million credit guarantee for SMEs is another great supportive step, making financing more accessible for women entrepreneurs who have historically faced challenges in securing financial support for business growth.
On a personal level, the extension of the Mahila Samman Savings Scheme is a huge relief. It's a powerful initiative that enables women to save and plan for a secure future, and I'm thrilled that more women will now have access to it.
The government's commitment to supporting women-led businesses and fostering financial independence is exactly what's needed to drive true empowerment. I'm excited to see how these initiatives will help women entrepreneurs thrive and scale their businesses.
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Anjali Bansal, Founding Partner of Avaana Capital:
"The Union Budget 2025 marks a groundbreaking and very positive moment for India's startup ecosystem and core technology innovation. The measures announced to enhance financing across sectors, including agriculture, deep tech, and manufacturing, will play a crucial role in shaping a sustainable and future-ready India.
The dedicated focus on sustainable agriculture will secure India's food supply, strengthen agri-linked livelihood, and enhance supply chains.
The strong push for the manufacturing sector, particularly in clean-tech manufacturing, will not only fuel the 'Make in India' initiative but will also position India as a global leader in future ready manufacturing.
The focus on new energy PV, EV infrastructure, grid scale battery solutions and nuclear positions India very well on long term energy security.
The launch of a Deep Tech Fund of Funds is a strategic move to bolster innovation and attract investments in cutting-edge technology. We also welcome the extension and additional investment of ₹10,000 crore into the Fund of Funds for Startups.
These substantial measures, coupled with the extension of the startup period by an additional 5 years, provide much-needed momentum to Indian startups, aligning with the nation's priorities for the golden period of Viksit Bharat. This is a budget that supports the vision for a dynamic, innovation-driven India."
Mohan Ramaswamy, Co-founder and CEO at Rubix Data Sciences:
MSME
"The increase in investment and turnover limits for MSMEs is a game-changer for India's manufacturing and export sectors. By allowing businesses to scale without losing MSME benefits, this move will drive expansion, enhance credit access, and boost job creation. It strengthens India's position as a global manufacturing hub while ensuring MSMEs remain the backbone of economic growth".
KYC
"The introduction of a revamped Central KYC Registry in 2025 is a great step towards enhancing both security and efficiency in India's financial ecosystem. By implementing measures like masking KYC identifiers and using unique IP-based access, the government is ensuring that sensitive customer data remains secure from unauthorized access. This initiative will help businesses and financial institutions streamline their customer verification processes while safeguarding data integrity, aligning with RBI's focus on building a more secure and resilient KYC framework. This is a critical move to foster greater trust and compliance across sectors".
Ease of Doing Business
"India's business environment has long been burdened by complex regulations and processes that have made it challenging for companies to thrive. However, Budget 2025 marks a pivotal step towards improving the ease of doing business. Simplifying customs procedures, reducing tariff rates, and streamlining the tax filing process will drastically reduce the time and costs businesses incur to navigate regulatory hurdles. The extension of the deadline for filing updated tax returns and the rationalization of the TDS and TCS systems offer greater clarity and reduce the compliance burden for companies of all sizes.
Moreover, the decriminalization of over 100 provisions through the Jan Vishwas 2.0 bill will help create a more supportive environment for businesses, eliminating unnecessary penalties and fostering a culture of innovation and risk-taking. The increased credit guarantee cover for MSMEs and the expanded loan limits under the PM Swanidhi scheme are key steps in improving access to finance for small and medium enterprises, which will help them scale and compete more effectively in both domestic and global markets.
By focusing on reducing regulatory complexity, improving access to capital, and promoting a more transparent business ecosystem, these measures are set to enhance the ease of doing business, empowering companies to grow, innovate, and contribute to India's economic prosperity".
