co-presented by
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co-presented by
ASSOCIATE SPONSORS
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.
Alternate Investment Funds were tied down by lack of clarity on tax treatment of their gains. The industry wanted regulatory clarity on their operations and parity with foreign investors. They got both.
The Union Budget could further underline the churn away from capex driven stocks
The Budget’s strategy is simple: maintain fiscal discipline, use tax cuts to boost consumption, and rely on incremental reforms to enhance competitiveness. It’s a cautious approach, but lacks ambition
One big hope for the market is that the tax relief provided by the finance minister will help increase domestic investment.
Markets ultimately focus on core issues such as earnings, business prospects, the currency and inflation. Traders should continue to exercise caution
Significant tax savings for the middle class should lead to higher spending on consumption, bringing cheer to investors in consumer stocks. The bigger impact could be in encouraging these companies to invest in capacity
If the consumption boost translates into higher credit and deposit growth, the sector might still find reasons to cheer.
The FY2026 Union Budget focuses on boosting consumption and investment through tax rationalisation, capital expenditure growth, and PPP projects. Despite challenges, the government’s commitment to fiscal prudence and growth-enhancing policies is clear.
There is no negative domestic factor for the bond market this year
For a country of its size and electricity needs, India has abysmally low nuclear power generation capacity
Budget 2025: The government should frontload capex, particularly in roads and railways, and implement measures to support MSMEs and employment-linked incentives.
