The 2025 budget prioritises fiscal prudence, consumption, job creation, and self-reliance, with key focus on MSMEs, agriculture, healthcare, and manufacturing. It offers tax relief for the middle class, boosts infrastructure, and simplifies business processes to attract multinationals
Budget focusing on achieving the Viksit status: Consequently, along with an anticipated 50-75 bps cut in the repo rate by the RBI in FY26, Indranil Pan see the 10-year G-sec yield in a range of 6.30-6.50% in FY26.
The FY2025-26 Union Budget presents a clear path toward consumption-driven growth, supported by strategic sectoral measures, continued fiscal discipline, and targeted investments in infrastructure, energy, and healthcare.
In addition, Sachin Gupta sees this budget focusing on three key areas – Ease of Doing Business (EODB), focus on labour-intensive sectors and continued focus on infrastructure investment.
From the market perspective, it is a positive budget which seeks to boost consumption and inclusive growth while maintaining fiscal discipline.
The Union Budget reflects the government’s consistent focus over the past few years, with no major surprises in its fiscal framework.
Overall, it was a very well-balanced budget and addressed all the pain points in the economy.
A new income tax bill to be introduced next week which will reduce the tax code by 50% and make it simpler and easier for everyone to understand and implement is another welcome move.
This Budget has focused on reviving consumption while maintaining fiscal stability, crucial for enabling lower interest rates. A significant move is the tax relief for the middle class, which is expected to boost disposable income and consumer confidence.
The successful implementation of the outlined initiatives in infrastructure and projects will be crucial in achieving the desired outcomes
While short-term volatility could be par for the course due to the current global economic backdrop, the long-term direction rooted in policy prudence and support for growth could bolster Destination India’s credentials for foreign and domestic investors alike.
India's Union Budget 2025 prioritises renewable energy, clean tech, and industrial decarbonisation, with investments in nuclear energy, green manufacturing, and grid modernisation. However, the absence of direct support for carbon markets limits progress towards a low-carbon economy.
This budget strengthens India’s commitment to energy security and clean energy growth by prioritising domestic manufacturing, backward integration, skilling, and research and development (R&D)
Building on the manufacturing story, the government has prioritised the growth of MSMEs. The budget also signals a diversification of manufacturing focus.
Budget 2025 slows public expenditure growth, supports private investment, and introduces tax reforms, including higher exemptions. The focus is on boosting consumption, supporting MSMEs, promoting exports, and addressing farmers’ welfare, while maintaining fiscal prudence
Tax proposals spanning rate changes, process simplification and the imminent introduction of a new income tax bill to overhaul the system set the stage for creating a robust fiscal base.
Budget 2025 introduces key measures for GIFT City IFSC, enhancing tax incentives, regulatory clarity, and competitiveness. These changes, including simplified rules for fund managers and exemptions for non-residents, aim to attract global investments and position India as a leading financial centre
We will see greater faith in our government's ability to consolidate the fiscal path and global investors will change their India stance, if they see private capex revive
While the budget has addressed many critical areas, concerns remain regarding employment generation. Although the government has mentioned initiatives to boost employment, the specifics are somewhat vague
Anaemic consumer demand has been one of the major factors holding back animal spirits in the corporate sector
The budget has managed to deliver a lot for start-ups but tax expectations still remain unmet.
The budget has pencilled in a large dividend from the RBI in FY26 as well
The Budget has done its best to nudge the private sector capex by encouraging PPP models in some infra segments and revving up consumer demand
Budget 2025-26 is a blueprint for the presence of India in the global high table in 2047. The direction of the Government is right
Clearly the intention is to shift to demand-led growth rather than continuing to boost the supply side by building infrastructure.
