Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance
“The Union Budget has focussed on driving consumption-led growth and fostering inclusive development. A key highlight is the increase in the FDI limit in the insurance sector from 74% to 100%, a move set to bring in fresh capital and bolster the industry’s financial strength. The decision reflects the government’s continued commitment to making India a prime investment hub for stable, long-term capital.
Greater foreign participation, will accelerate the adoption of global best practices, introduce innovative products, and elevate customer service standards. Additionally, the mandate to invest premiums within India ensures that these funds contribute to domestic economic growth and infrastructure development.
The next five years present a significant and exciting opportunity to propel the industry forward onto greater heights.”
Prakash Sankaran, MD & CEO, Invoicemart. Kindly help us with the dissemination in your region.
“The combination of revised MSME definition along with Nov 2024 govt notification on mandatory onboarding of entities with turnover over Rs 250 crores will unlock efficient cash flow management for MSMEs, empowering them to scale to new heights. This move will encourage broader participation from the 7000+ entities with a turnover range between Rs 250 – 500 crs.”
Ashishkumar Chauhan, MD and CEO of NSE
The budget builds on India’s growth momentum with strong development measures, continued fiscal prudence, increased capex and reduced tax burden. Increase in disposable income enhances consumption growth and provides further wealth creation opportunities to Indian households through the markets. More and more people will join the pool of current 11 crore unique investors and will become stakeholders and beneficiaries of India’s growth journey thereby supporting a virtuous cycle of economic growth, capital formation and job creation. Through a slew of social welfare measures on employment, education, healthcare, women empowerment and with special support to youth, farmers, MSMEs and start-ups – the budget focuses on India’s most important resource – its people.
Prashant Kumar, Managing Director & CEO, YES BANK
“The Union Budget remains growth oriented – not only attempting to correct for the cyclical growth concerns but also setting up the platform for a sustained long-term journey for the economy, keeping the focus strongly on the objectives of Viksit Bharat. Importantly, sectors that are relatively more labor-intensive have received a boost within the budget – namely agriculture, MSME, footwear and leather, toys, and food processing. The focus of the budget has been on ways to improve productivity across various sectors and to provide adequate scope for the MSMEs to expand by enhancing the credit guarantee scheme for them. Importantly, the classification criteria for the MSMEs have also been significantly enhanced. The Budget can also be lauded for taking up the challenge of enhancing the ease of doing business along with establishing a more stable taxation regime, that is likely to enhance business decision-making, boost private sector investment, and hence foster long-term growth. On the other hand, a reduction in income taxes across the tax-paying population should enhance the consumption power of the middle class and boost deposit mobilization of the banking sector. Amid all these positive reforms momentum, the FM has enabled an increase in the capital expenditures yet continuing with fiscal consolidation.”
Sai D Prasad, Chairman, CII Telangana says Union Budget 2025 is a Progressive budget & will strengthen Ease of Doing Business further in the country
Mr. Sai D Prasad, Chairman, CII Telangana & Executive Director, Bharat Biotech International Ltd. said the Union Budget 2025-26 will accelerate India’s economic growth and strengthen the labor-intensive economy. He also said that decreasing the tax burden on the middle class will increase consumption, and increased expenditure on urban infrastructure will attract more investments. He also termed the budget as an agriculture and MSMEs-friendly budget and many proposed interventions will give a fillip to the entrepreneurial ecosystem in the country.
Anil Epur, Past Chairman, CII Southern Region appreciated the launch of the Prime Minister Dhan-Dhaanya Krishi Yojana, which be executed in collaboration with state governments and covers 100 districts. He also said that it is a significant step forward in ensuring the long-term prosperity of our farmers and achieving growth in the Agriculture sector. By addressing critical areas such as productivity, crop diversification, storage, irrigation, and credit, the scheme provides a comprehensive solution to the challenges facing Indian farmers today. CII is confident that this initiative will lead to enhanced farmer welfare, stronger rural economies, and a more resilient agricultural sector for India.
RS Reddy, Vice Chairman, CII Telangana, and MD, Rachamallu Forgings opined that social welfare interventions for gig workers is a good move. Enhanced credit limits, Streamlined Compliance and Regulatory Ease, Capacity Building and Skill Development, and Support for exports for MSMEs, are poised to strengthen the ecosystem, make it more competitive, and contribute to India’s economic growth.
Y Harish Chandra Prasad, Past Chairman, CII AP (erstwhile) & Chairman, Malaxmi Group mentioned that as the world towards a greener, more sustainable future, India’s commitment to driving environmental stewardship and advancing clean technologies is commendable. Strengthening Clean Tech Manufacturing in the sectors such as Solar EV Cells, EV Batteries , Wind Turbines etc will add value. He also mentioned that Nuclear Energy Mission will be zero emissions intervention however more technological developments are required.
