Commenting on the Union Budget 2025-26, Mr. Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers Ltd., said, "The Union Budget 25-26 lays a strong foundation for inclusive economic growth by prioritising rural development, MSME empowerment, and financial inclusion as well as reaffirms the government's commitment to promoting financial resilience and economic prosperity at the grassroots level. The introduction of the 'Grameen Credit Score' framework is a progressive step that will enable better access to credit for rural entrepreneurs, self-help groups, and underserved communities. Additionally, the comprehensive 'Rural Prosperity and Resilience' program will generate employment opportunities, enhance skilling, and strengthen rural infrastructure, reducing the need for migration.
We at Muthoottu Mini see these reforms as a step in the right direction, aligning with our mission to support underserved communities with their financial needs. The expanded credit guarantee cover, new Credit Cards designed for Micro Enterprises, and incentives for first-time entrepreneurs will provide vital capital to fuel growth and employment. Raising the nil tax slab to ₹12 lakh is also a significant relief, giving the middle class more spending power and driving consumption. As India moves towards 'Viksit Bharat,' the budget's focus on empowering youth, women, and farmers will help ensure sustainable and inclusive development. These measures, along with continued efforts to improve the ease of doing business, will be instrumental in supporting small businesses and rural entrepreneurs, pushing India's economic momentum forward."
The Union Budget 2025 was subject to several watershed announcements, as Minister of Finance, Nirmala Sitharaman, delivered a keynote speech at the Parliament on February 1. The core focus of the budget was directed at extending critical support to 4 core areas — Agriculture, MSME, Investments and Exports, favourably impacting a holistic growth roadmap through meaningful announcements. The Union Budget prioritised making essential announcements and reforms in agriculture, Artificial Intelligence (AI), upskilling, manufacturing and sustainable development, providing a progressive perspective on the GOI's strategic blueprint for the upcoming financial year. Furthermore, the announcements and reforms also marked a watershed moment for India's comprehensive emphasis on sectoral growth, and corporates welcomed the approach with both hands.
While the Union Budget 2025's comprehensive focus emphasised supporting the growth of Indian MSMEs, larger industry stakeholders from diverse sectors immensely benefited from key announcements. For instance, announcements on AI, upskilling, employment generation, manufacturing, logistics, agriculture and the National Manufacturing Mission provided a clear blueprint for the GOI's strategy to drive scalability and growth, positioning the country in a unique spot to sustain its growth potential for the upcoming fiscal year.
AI & Upskilling
The Government of India maintained its supportive perspective of the growth of AI within the national borders, while also aligning it with a feasible career option for the country's significant population of talents. The government's emphasis on driving AI development for drug discovery within India with more investments highlights the favourable outlook on the space in the country, and Mr. Arun Prakash M, Founder and CEO of GUVI Geek Networks believes that it will have a long-term favourable impact on the future of Indian talents.
"The growing emphasis on AI has been addressed well in the Union Government by inviting investments in AI for drug discovery. As India looks to advance its capabilities in AI, upskilling in relevant tech education will be imperative. The government's decision to add broadband connections in government secondary schools to integrate digital learning, while also helping learners to understand the subjects better in their respective languages is commendable. Furthermore, the establishment of 5 national centres of excellence for upskilling to supplement Make for India and Make for the World will have long-term favourable implications on the future of millions of Indian talents, helping them to become critical contributors of the country's bid to become a developed nation by 2047," he said.
Manufacturing & Construction
As Finance Minister Nirmala Sitharaman announced the National Manufacturing Mission to provide policy support for diverse industries, it highlighted the Goverment of India's favourable outlook for domestic development and bid to position India as a global manufacturing hotspot. Speaking on the same, Mr. Rajesh Shah, Chairman & Managing Director of Euro Panel Products Limited, revealed that this would position India's manufacturing countries on a path to significant growth, saying, "The introduction of the National Manufacturing Mission will provide critical policy support to various industries, reinforcing India's commitment to becoming a global manufacturing leader. Also, the setup of an Urban Challenge fund worth INR 1 lakh crore to redevelop cities positions the building materials and construction industry in a favourable position. The emphasis of each infra ministry to come up with a 3-year list of PPP projects will be an era-appropriate move, furthering the National Manufacturing Mission and Make in India initiatives. These will enable industry stakeholders to scale operations, enhance efficiency, and drive innovation — directly translating to India attracting greater investments, creating high-value jobs, strengthening supply chains and boosting exports."
Agriculture
One of the four pillars of the Union Budget 2025 was agriculture, and its progressive outlook did not disappoint. The Prime Minister Dhan Dhanya Krishi Yojana in partnership with states, along with the extensive support provided to farmers with credit lines provides a long-term impact on India's agriculture space, and Mr. Anshul Garg, Director & CEO of Aroma AAT Basmati Rice, agreed on the same.
"The PM Dhan Dhanya Krishi Yojana in partnership with states will be a significant boost in Basmati production domestically. This is a meaningful and era-appropriate announcement to increase India's agri productivity and will benefit increasing Indian Basmati rice's increased penetration in global key markets. As productivity increases, the emphasis on helping up to 1.7 Crore Indian farmers with both short and long term credit lines will also help to advance the rural economy and the creation of employment opportunities in the space will help position India as the global food basket. The enhanced credit line extended to 7.7 Crore farmers for short term loans of INR 5 Lakh is also a significant announcement, helping them with financial viability during cultivation season," he said.
Sustainable Mobility & Electric Vehicles
India has already positioned itself as one of the highest EV-adopting countries in the world, and the announcement of the National Manufacturing Mission's support for clean tech manufacturing at the Union Budget is expected to be a game changer. The Union Budget 2025 prioritizes sustainable mobility in the country with the removal of Basic Customs Duty (BCD) on critical materials like cobalt powder, lithium-ion battery waste, and other essential minerals. This move has been further supported by an additional INR 10,000 crore investment in the Union Budget, highlighting innovation, job creation, and energy security.
Speaking on the same, Mr. Siddharth Patel, Founder of Greenway Mobility, quipped, "India's push for sustainable mobility is getting a major boost with the removal of Basic Customs Duty (BCD) on critical materials like cobalt powder, lithium-ion battery waste, and other essential minerals. This bold move will lower manufacturing costs, ensure a steady supply of key resources, and accelerate the adoption of electric vehicles. More importantly, it paves the way for stronger domestic production, job creation, and advancements in battery technology, a key step toward a cleaner, more energy-independent future."
"At the same time, the National Manufacturing Mission is set to transform India's green energy landscape. By backing local production of EV batteries and solar panels, the initiative will reduce import reliance and make sustainable solutions more accessible. The government's additional ₹10,000 crore investment signals a strong commitment to innovation and economic growth, strengthening India's position as a global leader in clean technology," he further added.
“ The budget presents a strong focus on the inherent strengths of Indian economy and key economic drivers of Viksit Bharat 2047.
The 3M's that bring me cheer are - Middle Class, MSMEs and Make in India!
· Big boost to salaried middle-class will accelerate economic growth
· Revised Classification and Exports push to help Indian MSMEs go global!
· Focussed attention to 'Make in India' in HiTech and labour intensive industries will attract investments.
I also welcome the launch of the Manufacturing Mission, the Exports Promotion Mission and the Nuclear Energy Mission.
Initiatives such as Cancer Care Centers in every district across the country will further modernize the Healthcare and Medical Infrastructure across the country.
Special development measures to boost agriculture productivity, self-reliance in pulses and leveraging 'India Post' to deliver financial services are expected to drive Rural Growth.
What is noteworthy is a special mention of revamping Bilateral Investment Treaty Model - a sign of following an India First model amidst heightened global volatility.
Hallmark of successive governments under the leadership of Hon'ble Prime Minister has been continued thrust on ease of doing business, fiscal prudence and investment led growth.
Today's Budget continues to deliver on these three levers, and I am confident that these initiatives collectively signal a robust blueprint for India's progressive and inclusive development.”- Baba Kalyani, Chairman & MD, Bharat Forge Ltd.
Mr. Raoul Kapoor, Co-CEO, Andromeda Sales and Distribution Pvt Ltd
We welcome the Union Budget 2025-26, which presents a strategic roadmap for accelerated economic growth while offering much-needed relief to the middle class. The Finance Minister has introduced progressive tax reforms that are set to increase disposable income, fostering both financial stability and consumer spending.
With the revised income tax slabs and reduced tax rates, a rough estimate suggests that taxpayers could save up to ₹10,000 per month, depending on their income bracket. This significant boost in savings will enable individuals to better manage existing loans and enhance their loan eligibility, making homeownership and other large investments more accessible.
The ripple effect of increased disposable income will be felt across the retail loan industry, as more individuals will have the financial confidence to take on new loans, whether for housing, automobiles, or personal financing needs. This policy move is expected to strengthen the banking and NBFC sector, further driving economic momentum.
Tarandeep Singh Sekhon, Chief Business Officer, KidZania India:
"The Union Budget 2025 marks a transformative step forward for the education and edutainment sector, reinforcing the importance of experiential learning, skill development, and digital education. The government's increased allocation for education, focus on vocational training, and push for interactive learning platforms align seamlessly with KidZania India’s mission to empower children through immersive role-playing experiences.
By fostering public-private partnerships, enhancing early childhood education, and promoting digital learning, this budget creates immense opportunities to make learning more engaging, inclusive, and future-ready.
We at KidZania are excited to expand our impact, integrate technology into our offerings, and continue to collaborate with schools to bring experiential learning into mainstream education. This forward-thinking approach validates the growing significance of edutainment in shaping the next generation and paves the way for a more dynamic and innovative learning ecosystem."
Dr. Pawan Munjal, Executive Chairman, Hero MotoCorp:
“The Union Budget 2025 fuels India's growth engines with a bold push for manufacturing, green mobility, and rural empowerment—driving innovation, job creation, and global leadership.
The Union Budget 2025 outlines a bold vision for Viksit Bharat, focused on eradication of poverty, quality education, affordable healthcare, and women’s empowerment. By prioritizing rural prosperity and establishing India as a global agricultural powerhouse, the budget fosters inclusive growth that reaches all corners of the nation. A bold push towards manufacturing excellence, supported by strategic investments in infrastructure, EV technology, and MSME growth, strengthens India’s industrial backbone. This people-centric vision strikes a perfect balance between fiscal discipline and sustainable economic growth.
The elimination of income tax for individuals earning up to ₹12 lakh will spur economic activity and unlock consumer potential, while simplified tax regulations foster ease of doing business. Meanwhile, green energy investments and EV policy support accelerate India’s shift to a clean, sustainable economy, positioning it as a leader in innovative mobility.
The automobile sector stands poised for a significant leap forward, with substantial investments in green energy and a clear policy framework to support energy storage solutions. These measures will accelerate India’s transition to a clean mobility future, reinforcing its commitment to sustainability and technological innovation.
In essence, this budget is a bold fusion of foresight, strategy, and ambition, perfectly aligned with Prime Minister Modi’s vision for a developed India by 2047—a nation leading in innovation, inclusive growth, and global influence. It’s not just a financial plan, but a transformative blueprint for national progress and the empowerment of every citizen.”
Mr. Sanjaya Mariwala, President of the IMC Chamber of Commerce and Industry and Executive Chairman & Managing Director of OmniActive Health Technologies :
"The Union Budget delivered today showcases a clear vision for India's economic future. The reforms in income tax structure will put more money in the citizens' pockets, creating a cycle of spending and growth. What is particularly encouraging is the focus on agricultural and MSME improvements. The Finance Minister signalled a strong commitment to enhance crop diversification, self-reliance and agriculture productivity. Furthermore, the Government's focus on streamlining business processes and enhancing manufacturing by providing policy support to industries will boost job creation and enhance productivity.
In terms of medical care, the addition of 10,000 seats and opening of daycare centres for cancer in all districts highlight an increasing emphasis on accessible and premium medical care. Additionally, skilling programs including the setting up of National Centres of Excellence in AI education will ensure that our youth can compete in the global economy.
These measures, rooted in Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayaas, ensure inclusive progress, balancing economic expansion with social upliftment. Aligning seamlessly with the Viksit Bharat 2047 vision, driving India towards sustained prosperity and global leadership."
Mr. Ravi Annavarapu, President, FMC India.
“This budget presented by the government today has a progressive, growth-focused vision to transform the Indian agriculture sector. The PM Dhan Dhanya Krishi Yojana and the Six-Year Atmanirbharta Programme for Pulses are welcome initiatives that promise significant benefits for farmers and increased productivity in the long run.
The introduction of climate-resilient, high-yield crops and the establishment of the Makhana Board in Bihar demonstrate a dedication to supporting farmers in adapting to a changing climate. Integrating 6 crore farmers into a digital registry via enhanced digital public infrastructure will improve transparency, democratize access to digital agricultural services, and pave the way for precision agriculture.
We also support the government's commitment to fostering collaboration with the private sector and experts to enhance agricultural innovation, while the increased Kisan credit card loan limit to Rs 5 lakh will further support farmers financial needs.
The focus on developing local vegetable production and empowering Farmer Producer Organizations (FPOs), cooperatives, and startups to build efficient supply chains will benefit both farmers and consumers. Furthermore, the commitment to modernizing the sector through technology and R&D is highly encouraging.
In conclusion, this budget lays a strong foundation for a more resilient, productive, and sustainable agricultural sector. We are committed to work closely with the government in its efforts to transform Indian agriculture, improve farmer livelihoods, and strengthen the nation's food security.”
Gregory Goba Ble, Head of UPS India and Director of MOVIN Express.
“As we reflect on the Union Budget 2025, I am encouraged by the government's robust commitment to empowering our Micro, Small, and Medium Enterprises (MSMEs), which are vital to India's economic growth and global manufacturing ambitions. The remarkable transformation of India Post into a major public logistics organisation stands as a testament to this commitment. This shift, coupled with robust contributions from the private sector, will effectively address the diverse business needs of Vishwakarmas, MSMEs, women entrepreneurs, and self-help groups across the nation.
The budget's enhancements in credit guarantees and increased investment limits for MSMEs represent a lifeline for small and medium enterprises striving to scale up and create jobs. With over 5.7 crore MSMEs at the heart of our economy, these initiatives will unleash their potential, driving innovation and fostering a vibrant entrepreneurial ecosystem. The government has consistently focused on supporting MSMEs, and this budget has not disappointed.
Furthermore, the emphasis on technological upgrades and the introduction of customized credit cards for micro-enterprises are game-changing strategies that will elevate efficiency and competitiveness. By empowering these businesses with the necessary tools and resources, we can anticipate a wave of entrepreneurial spirit that will invigorate our economy.
The budget’s focus on reducing logistics costs, enhancing skill development, and promoting green logistics through advanced electric vehicle infrastructure is not merely a response to current challenges but a bold step towards sustainability and innovation. These measures will not only fortify India's logistics capabilities but also position our nation as a strategic hub for global trade, enabling us to compete fiercely on the international stage.
In essence, the Union Budget 2025 lays a formidable foundation for a resilient and dynamic logistics and MSME ecosystem, championing growth, inclusivity, and sustainability. The collaborative efforts between the public and private sectors will be instrumental in realizing these ambitious goals, ensuring a prosperous future for all.”
Mr. Aditya Pande, Group Chief Executive Officer, InterGlobe Enterprises:
"This budget outlines a compelling roadmap for a Viksit Bharat. The focus on boosting consumption through targeted tax relief for the middle class, coupled with the government's commitment to streamlining tax procedures, will significantly improve ease of doing business and unlock further economic potential.
At InterGlobe Enterprises, we are particularly encouraged by the strategic investments and vision for strengthening the holistic tourism ecosystem in the country, with the development of infrastructure and focus on skilled workforce. These initiatives lay a solid foundation for sustained economic progress and a brighter future for the country.”
"The Union Budget 2025-26 lays a solid groundwork for India to assert its leadership in global healthcare and innovation. With a ₹90,958 crore healthcare allocation, coupled with investments in daycare cancer centres and the addition of 10,000 new medical seats, India is poised to enhance both - care accessibility and quality. Further, the push for broadband connectivity in rural health centres and the introduction of healthcare identity cards for gig workers under PM Jan Arogya Yojana further underscores India's commitment to advancing healthcare equity.
On the entrepreneurial front, the increased Mudra Loan limits and targeted support for MSMEs will empower pharma and healthtech innovators, driving a resilient healthcare ecosystem. The establishment of the Centre of Excellence for AI and the expansion of STEM education through the Atal Tinkering Lab initiative will catalyse technological disruption within healthcare. Additionally, prioritizing funding for marginalized first-time women entrepreneurs will increase their participation in both healthcare and economic growth. Simultaneously, the ‘Heal in India’ initiative will elevate medical tourism, creating job opportunities and attracting foreign investments, while exemptions on cancer drug imports and continued support for production-linked incentives will solidify India’s role as a global pharmaceutical leader. With the budget’s emphasis on research, digital transformation, and structured financial support, Doceree stands aligned with the vision of 'Vikasit Bharat', and welcomes Government's ongoing efforts by utilizing technology-driven innovations to enhance healthcare effectiveness." – Dr. Harshit Jain – Founder & Global CEO at Doceree.
Mr. Yancharla Rathnakara Nagaraja, Managing Director, Ramky Infrastructure Limited:
The budget introduces a range of infrastructure proposals aimed at fostering growth and improving efficiency across sectors. The emphasis on Public-Private Partnerships (PPP) through the creation of a 3-year pipeline of projects for each ministry reflects a clear intent to leverage private sector involvement in infrastructure development. This is further supported by the India Infrastructure Project Development Fund (IIPDF), which encourages state governments to seek assistance in project execution.
The ₹1.5 lakh crore outlay for interest-free loans to states underscores the importance of supporting regional development and incentivizing reforms. The second Asset Monetization Plan (2025-30) will unlock value from public assets, reinvesting capital into further infrastructure projects.
The ₹1 lakh crore Urban Challenge Fund is dedicated to urban reforms, focusing on improving governance, municipal services, and urban planning. Additionally, the modified UDAN scheme, which aims to enhance regional connectivity, alongside the development of greenfield airports in Bihar and the expansion of Patna airport, will significantly improve transportation infrastructure.
The support for projects like the Western Koshi Canal ERM Project demonstrates the commitment to improving agricultural infrastructure. Lastly, providing private sector access to the PM Gati Shakti portal data is a crucial step toward optimizing project planning and execution, fostering greater collaboration between public and private entities in shaping the future of India's infrastructure."