Mr. Keshav Bhajanka, Executive Director, CenturyPly said, “We have a deep-rooted connection to the real estate sector, and its performance is crucial for our future. I believe that tax exemptions on home loan interest, along with expected interest rate cuts this year, could significantly enhance demand. A key issue in affordable housing, particularly in major metropolitan areas, is the current limit of 45 lakh rupees, and I hope the government will increase this cap to align with the recent rise in real estate prices.
Moreover, the furniture industry has been advocating for a Production-Linked Incentive (PLI) scheme for several budgets, and I am hopeful that this will finally gain traction this year, allowing us to compete globally.
The emphasis on infrastructure in recent budgets has been remarkable, and I trust this momentum will continue, benefiting all industries in the long run. Our capital expenditure has notably increased, positioning us to leverage the anticipated boost from infrastructure spending. In our product lineup, we offer premium plywood, along with more affordable options like MDF and particle board, which aligns with the push for affordable housing. We have expanded our capacities in both MDF and particle board, while also focusing on our economical plywood range, Sainik. This strategy will enable us to capitalize on the government's commitment to affordable housing, and we are well-prepared with significant investments to take advantage of this opportunity.
The emphasis on smart cities has always been present, highlighting the clear need for urbanization and its decentralization. Over the past four to five years, we have significantly enhanced our distribution and infrastructure, allowing us to capitalize on the growth of smart cities. Moving forward, we plan to invest in strengthening our supply chain to meet the diverse demands of this industry.”
Mr. Manish Jaiswal, Managing Director & Chief Executive Officer, Grihum Housing Finance:
"Reviving economic momentum requires immediate measures to address food inflation through MSP reforms and supply-side interventions. This will help increase disposable incomes and stabilize family budgets. Blanket monetary tightening has adverse effects on industries like affordable housing, driving up EMIs and increasing default risks. A targeted approach to inflation, especially in essential commodities, is crucial.
PMAY Urban 2.0 must be relaunched with a simplified framework, similar to its earlier structure, to effectively cater to low-income groups (LIG). The current delays and cumbersome processes hinder progress and create operational and technological challenges. Centralized administration with robust checks and balances can streamline the scheme, ensuring that it directly addresses the needs of LIG households. The immediate rollout of the mortgage credit guarantee fund will further facilitate housing finance penetration in semi-urban and rural areas, driving deeper structural reforms and contributing significantly to India's GDP.
Additionally, introducing tax incentives on home loan principal or interest will make EMIs more affordable for the LIG segment, empowering them to achieve homeownership under PMAY Urban 2.0. This will significantly advance India's Housing for All mission, foster infrastructural growth, and provide support to the 400 allied industries linked to real estate.
To improve the ease of doing business, a fully digitized SARFAESI process is imperative. Integrating courts, police, and judiciary on a unified platform will streamline repossessions, auctions, and enforcement. Additionally, integrating the Centre and state governments through a transparent network with clearly defined turnaround times (TAT) and exception management will significantly enhance the process. This model will strengthen coordination, close procedural gaps, and ensure swift, transparent action against defaults and fraud."
by Sravan Appana, Suresh Babu Salla, and Chaitanya E, iGowise Mobility, said, "As we enter the new year, budget expectations have begun to mount. However, I do not anticipate significant new allocations for subsidies in the upcoming budget. Instead, I am keen on fresh measures that could help the sector maximize access and utilization of the previously allocated funds. I believe that more focused efforts to support research and development could help foster innovation in sunrise sectors, particularly in deep tech ventures. I am also hopeful that budget 2025 will address bottlenecks related to timely access to financial aid, testing, and the certification process. To begin with, measures to lower bureaucracy could help accelerate market entry for new and innovative players. Besides these, I also call for deregulation and the minimization of administrative gaps to enable startups to operate efficiently. To begin with, the government can simplify the process of accessing grants and MSME loans and make the eligibility for PLI schemes more flexible. Lastly, as the nation works to establish itself as a global manufacturing and export hub, the government must earmark funds for export-orientated startups to boost the competitiveness of Indian products in the global market. "
Commenting on the Union Budget expectations, Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers said, "As we approach the Union Budget, Muthoottu Mini Financiers Limited emphasizes the critical role of Non-Banking Financial Companies (NBFCs) in supporting rural India's economic needs. While we welcome the Reserve Bank of India's regulatory measures aimed at ensuring financial stability, it is essential to recognize the difficulties rural populations face in accessing traditional banking services due to stringent requirements. NBFCs like ours provide essential financial services by offering loans up to ₹3 lakhs for agricultural needs, MSMEs, and other small-scale necessities without any heavy measures. This flexibility enables us to meet the urgent financial requirements of rural borrowers more effectively. Therefore, we urge the Union Budget to recognize NBFCs as part of the priority sector, facilitating bank lending to NBFCs at lower interest rates. Such a move would empower rural communities, allowing us to offer more competitive lending rates and contribute to their economic empowerment. This step will not only strengthen rural livelihoods but also drive inclusive growth and reinforce India's broader economic framework."
Dr. Dhruv Galgotia, CEO, Galgotias University, said "Education is that crucial fulcrum which will further our Prime Minister's vision of Viksit Bharat 2047. Some of the anticipated policies include education for girls and women, equal access and opportunities, and the discussion around technological interventions. Current data indicates women participation in India Inc at 36 percent.
A major anticipation is nourishment for entrepreneurs, and ways to leverage Artifical Intelligence. In the education domain, countries such as Singapore and US have already commenced their AI journeys. Budget discussions could be an avenue to discuss policies on how to improve investments in the sector. Additionally, initiatives such as facilitation of global learning experiences, integration of sports, other co-curricular activities, and overall development of students should also be looked into."
Akhil Jain, Executive Director, Jain Amar (Madame)
"The compliance burden of dealing with multiple authorities has been hampering the business activities of Retailers. The proposed introduction of a National Retail Trade Policy for brick and mortar retail traders aimed at promoting ease of doing business has been under discussions for more than two years now. This is necessary to provide operational efficiencies for the fashion industry.The readymade garments industry is under the burden of GST inverted duty structure (higher tax rate on purchases and lower tax rate on sale), which is leading to blockage of working capital in unutilised GST credit. While a mechanism of claiming refunds has been provided under the GST law, the process of claiming refunds from the GST department is too cumbersome and time consuming. This is causing severe working capital pressure for the industry. Reintroduction of Technology Upgradation Fund Scheme (TUFS) is also much awaited, as it will encourage innovation and technological advancement within the fashion industry by providing import duty incentives."
Mr. Anand Aiyer, CEO, Arrow
"As we approach the unveiling of the upcoming budget, we are optimistic about the government's continued commitment to fostering economic resilience and growth. This is a pivotal moment to prioritize policies that drive innovation, enhance ease of doing business, and strengthen consumer confidence. At Arrow, we remain committed to honoring our legacy while evolving to meet the ever-changing needs of today's consumers. We eagerly anticipate the opportunities this budget could create for our business and the industry.
We're hopeful the upcoming budget will introduce initiatives that foster retail growth and simplify business operations. At Arrow, this is a chance to innovate, expand, and continue delivering exceptional fashion for the modern Indian man."
Rahul Goenka, Director , ElectroRide
"The Indian government has set an ambitious target of having EVs comprise 30% of new private vehicle registrations, totalling 8 crore EVs, by 2030. To support this growth, we need a significant expansion of the charging infrastructure, with an estimated 39 lakh public and semi-public charging stations. As the nation strives to meet these targets, the upcoming Union Budget 2025 is expected to play a crucial role in reshaping India's EV sector. We anticipate several key reforms from the budget, including incentivizing EV adoption through enhanced subsidies, reduced GST on EVs, and incentives for fleet electrification, as well as investments in advanced infrastructure development, such as widespread charging networks, to facilitate the seamless integration of EVs into daily life." Rahul Goenka, Director, ElectroRide.
Envalior
Nileshkumar Kukalyekar, Business Director (South Asia, Middle East and Africa), Envalior
"India's economic future hinges on its ability to transition to a low-carbon economy, with sustainable manufacturing and innovation playing a critical role. We emphasize the need for increased investment in sustainable manufacturing and innovation. With global demand for environmentally responsible products on the rise, supporting industries that drive sustainability is key to India's economic future. We urge the government to focus on policies that incentivize the use of recycled and bio-based materials, support research into new green technologies, and promote circular economy models. Strengthening these initiatives can help companies like ours accelerate the transition to a low-carbon, sustainable economy. Furthermore, expanding financial support for green manufacturing practices will help India meet its environmental targets while boosting job creation and positioning the country as a global leader in sustainable industry" Nileshkumar Kukalyekar, Business Director - South Asia, Middle East and Africa, Envalior.
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Education Sector
Badruka School of Management (BSM), Hyderabad
- Dr. Prabhu Aggarwal, Dean
"As I reflect on the findings of the World Economic Forum report, the skills gap in India's workforce is a pressing concern. As the data stated, out of 13 million individuals entering the workforce annually, only one-fourth of management professionals possess the necessary skills to succeed in the job market. This significant gap between educational qualifications and employment necessitates innovative solutions. For this, collaborations between government bodies and private institutions under the Public-Private Partnership (PPP) model are forecast to play a vital role in nurturing digital learning infrastructure and enhancing skill-based knowledge. Further, we must put immense focus on strengthening the Education 4.0 Revolution, fostering industry-academia collaboration and funding research projects to enhance the employability of Indian youth." Dr Prabhu Aggarwal, Dean, BSM Hyderabad.
Fortune Institute of International Business (FIIB) New Delhi
- Prof. Radhika Shrivastava, Executive Director
"In light of the upcoming budget, we anticipate strategic investments in education, particularly in skill development and advanced learning technologies, to empower the future workforce. As the demand for industry-ready talent increases, it is crucial to encourage greater collaboration between academia and industry. We hope the government will prioritize funding for initiatives that promote entrepreneurship, digital literacy, and vocational training that is made accessible to women, as these are key drivers of India's economic growth. Additionally, we encourage policies that support the growth of management education institutions, facilitating global-standard education while ensuring affordability and accessibility. A focus on creating an innovation-driven ecosystem that integrates academic learning with real-world applications will not only address the talent gap but also boost India's competitive edge in the global market." Prof. Radhika Shrivastava, Executive Director
JS Institute of Design
Nien Siao, Dean, JS Institute of Design
"As India strives to solidify its position as a global innovation hub, we emphasize the need for stronger investments in design education to fuel innovation across industries. The growing demand for skilled design professionals in areas like product, user experience, and digital design calls for increased focus on specialized educational programs that nurture creativity, critical thinking, and technical expertise. We urge the government to allocate resources for research in innovation, in experiential products and services, and focus on application of technology for human centred design for regional zones of India. The other area we would wish for to spread out across all states, centres of expertise and implementation support for enhancing education, faculty training, mentoring and incubation to set up Design services and manufacturing startups. Policies supporting the collaboration between educational institutions and the design industry can bridge the talent gap and equip students with the practical knowledge needed for today's fast-evolving market. By investing in a design ecosystem, India can progress to the competitive global stage, ensuring long-term economic growth and innovation." Nien Siao, Dean, JS Institute of Design
ODM Educational Group
Dr. Satyabrata Minaketan, Chairman
"As we approach the 2025 budget, I believe that prioritizing K-12 education is imperative, given its pivotal role in driving holistic societal growth. In the 2024-25 budget, the Department of School Education and Literacy was allocated around Rs 73,00 crore, delineating a significant focus on school education. As India stands on the cusp of a major transformation in K-12 education with the integration of cutting-edge technologies such as Robotics, AI, and ML, I am convinced that strategic investments in this sector will yield substantial results. Our K-12 education system, with over 254 million enrolled students, is one of the largest in the world. By fostering collaboration, investing in technology and infrastructure, and enhancing teacher training, India can position itself as a leader in education for younger generations". Dr. Satyabrata Minaketan, Chairman.
Prof. Arvind Sahay, Director, MDI Gurgaon said, "As the country approaches the Union Budget 2025, it is necessary to prioritise higher education as a catalyst for economic growth and societal progress. A well-educated and skilled workforce is the backbone of a growing economy. I hope to see initiatives that empower institutions to cultivate future-ready professionals by narrowing the gap between academics and industry needs. A key requirement is investment in education and research. Countries like Japan and China that have made the transition to developed status in the last 75 years have all invested in education. Our investment in education needs to increase to at least 3 - 5 % of GDP.
The government should consider increasing investment in skill development programmes aligned with the rapidly evolving job market. Quality in higher education is also key to our future as a developed nation. We need to invest more in promoting quality research and training in higher education so we can aspire to be world class at scale. Strengthening collaborations between academia and industries through internships and experiential learning opportunities can further prepare students for real-world challenges. Hereby, ensuring they contribute meaningfully from day one.
To build an inclusive educational ecosystem, greater emphasis on scholarships and financial aid is essential. It enables students from diverse backgrounds to access quality education. These efforts will democratise learning opportunities and ensure that talent and potential are not hindered by economic constraints.
Policy reforms aimed at modernising management education and bolstering infrastructure for higher learning can enhance India's position as a global education hub. By aligning curriculum with emerging technologies and sustainability, we can prepare leaders who can navigate complexities and drive innovation.
This budget presents an opportunity to lay the groundwork for a robust, future-ready educational framework, one that equips students not just for employment but for leadership in a changing global landscape."
