Budget | Business Upturn

Union Budget 2026: F&O segment faces pressure after Budget 2026 raises futures STT to 0.05%

News Desk — Sun, 01 Feb 2026 06:47:36 +0000

Derivatives trading faced fresh pressure after the Union Budget 2026 confirmed a sharp increase in Securities Transaction Tax on futures, raising transaction costs across the futures and options segment. The STT on futures has been increased from 0.02% to 0.05%, a move that effectively more than doubles the tax burden on leveraged trades.

The higher levy is expected to weigh on broking margins and dampen activity in the F&O segment, particularly among retail participants who are sensitive to incremental costs. Market participants flagged that the immediate impact could be visible in trading volumes as higher friction discourages frequent and short-term derivatives positions.

Broking stocks and market infrastructure plays, including BSE, were seen facing near-term headwinds as investors assessed the implications of reduced derivatives churn and pressure on transaction-linked revenues. The rise in STT is also likely to affect algorithmic and high-frequency trading strategies that rely on tight cost structures and high turnover.

Overall, the key takeaway from the budget announcement is that the effective tripling of STT on futures compresses leveraged trade economics in the near term, putting brokers and active derivatives traders under margin pressure while potentially curbing speculative activity in the F&O market.

Disclaimer: This article is for informational purposes only and is based solely on the inputs provided. It does not constitute investment advice or a recommendation.

Union Budget 2025: Transformation of India Post and MSME reforms to drive inclusive growth, says Shiprocket CEO Saahil Goel

Arunika Jain — Sat, 01 Feb 2025 14:47:47 +0000

The Union Budget 2025-26 has laid out a transformative vision for India’s logistics and MSME sectors, with significant reforms aimed at fostering inclusive growth and strengthening the nation’s economic backbone. Saahil Goel, MD & CEO of Shiprocket, highlighted the budget’s focus on rural digitization, MSME empowerment, and public-private partnerships as key drivers of this change.

A standout initiative in the budget is the transformation of India Post’s 1.5 lakh rural post offices, supported by a 2.4 lakh-strong workforce. This move is set to revolutionize Bharat’s logistics infrastructure, bridging the urban-rural divide and ensuring seamless access to financial, digital, and logistical services in tier 2 and tier 3 cities. “The modernization of India Post marks a historic shift in Bharat’s logistics and economic landscape,” Goel stated. “With digitization and public-private partnerships at its core, this initiative will empower local businesses, artisans, and entrepreneurs, extending the reach of eCommerce beyond urban centers.”

In tandem with this logistical transformation, the government has introduced a series of MSME-focused measures to bolster small enterprises. Enhancements in credit guarantees, revised MSME classification thresholds, and extended tax exemptions are designed to provide critical financial support. Notably, the introduction of customized credit cards with a ₹5 lakh limit for micro-enterprises and an expanded fund of funds program with ₹91,000 crores committed to Alternative Investment Funds (AIFs) signals a robust commitment to fostering entrepreneurship and job creation. “These reforms will be pivotal in strengthening the MSME sector, which is the backbone of Bharat’s economy,” Goel emphasized.

Goel also pointed out the government’s strategic focus on inclusive growth, highlighting the potential benefits for self-help groups, women entrepreneurs, and emerging startups. “By integrating logistics expansion with robust financial support for MSMEs, the government is laying the foundation for a more self-reliant and prosperous Bharat,” he added.

Overall, the Union Budget 2025-26 reflects a forward-looking approach, combining digital innovation with financial reforms to drive economic growth across all sectors. The strategic interventions in logistics and MSME support are expected to catalyze a new wave of entrepreneurship, job creation, and inclusive development, aligning with the vision of Viksit Bharat.

The Union Budget 2025-26 emphasizes business growth, sustainable development, and gig economy empowerment, says Vivek Krishna, Vice President – Finance, Rapido

Arunika Jain — Sat, 01 Feb 2025 14:37:59 +0000

The Union Budget 2025-26 has been lauded for its forward-thinking approach toward fostering business growth, promoting sustainable development, and empowering the gig economy. Vivek Krishna, Vice President – Finance of Rapido, expressed optimism about the budget’s proposals, highlighting its balanced focus on regulatory reforms, digital innovation, and social security measures.

One of the standout announcements in the budget is the review of both financial and non-financial sector regulations. This move aims to streamline processes and reduce the compliance burden for businesses, fostering a more efficient and growth-oriented environment. “The proposed review of sector regulations reflects the government’s commitment to improving business efficiency while maintaining robust governance standards,” Krishna noted.

For the gig economy, which forms a crucial part of Rapido’s operations, the budget has introduced several impactful measures. The extension of social security schemes and healthcare benefits to gig workers, facilitated through e-Shram portal registration and coverage under the PM Jan Arogya Yojana, marks a significant step toward ensuring their well-being. “These initiatives are game-changers, prioritizing the health and financial security of gig workers, including our captains,” Krishna added.

Moreover, the budget’s focus on green mobility and sustainable transportation has been welcomed by stakeholders in the mobility sector. The government’s plan to incentivize local manufacturing of EV components is expected to boost the adoption of electric vehicles, aligning with India’s long-term environmental goals. “It’s encouraging to see the government pushing for green mobility, which will not only reduce our carbon footprint but also open new avenues for innovation and growth in the sector,” Krishna emphasized.

Overall, the Union Budget 2025-26 reflects a bold vision for Viksit Bharat, emphasizing inclusivity, sustainability, and digital progress. The measures announced are expected to have far-reaching effects on business operations, employee welfare, and environmental sustainability, laying a strong foundation for India’s growth in the coming years.

Union Budget 2025: Government streamlines tax rules for ULIPs and life insurance proceeds, says CA (Dr.) Suresh Surana

News Desk — Sat, 01 Feb 2025 14:35:07 +0000

The Union Budget 2025 has introduced significant clarifications regarding the tax treatment of Unit Linked Insurance Policies (ULIPs) and other life insurance policies, a move that CA (Dr.) Suresh Surana believes will bring much-needed transparency for taxpayers.

Previously, Section 10(10D) provided exemptions for sums received under life insurance policies, including bonuses, provided certain conditions were met. These conditions included:

The premium for any year during the policy term (for both life insurance and ULIPs issued on or after April 1, 2012) should not exceed 10% of the actual capital sum assured.
The aggregate premium payable during the term should not exceed ₹2.5 lakh (for ULIPs) or ₹5 lakh (for other policies), depending on the issue date.

If these thresholds were breached, the proceeds from these policies would be taxable. However, there was ambiguity regarding the head of chargeability—whether such amounts would be taxed as capital gains or income from other sources.

Dr. Surana explained, “The previous provisions created confusion, especially in the case of ULIPs, where premiums exceeding 10% of the sum assured were not exempt but also weren’t clearly taxed under capital gains as per Section 45(1B). The amendment now brings consistency to the tax treatment of ULIPs and other life insurance policies.”

Under the new amendment, if the exemption under Section 10(10D) does not apply:

Proceeds from ULIPs will be taxed under capital gains.
Proceeds from other life insurance policies will be taxed under income from other sources.

Dr. Surana emphasized that this move will streamline the tax treatment of life insurance proceeds, providing clarity for taxpayers planning their finances. “By addressing ambiguities and ensuring a consistent approach, the government is empowering taxpayers to make more informed decisions regarding their life insurance investments,” he noted.

This budgetary reform is expected to simplify financial planning and reduce litigation by clearly defining the tax obligations associated with life insurance policies, particularly for ULIP holders.

Union Budget 2025: Strong push for self-reliance in defence manufacturing, says Balu Forge Industries’ Jaikaran Chandock

News Desk — Sat, 01 Feb 2025 14:30:24 +0000

Mr. Jaikaran Chandock, Director of Balu Forge Industries Ltd, lauded the Union Budget 2025 for its robust measures aimed at enhancing self-reliance in defence manufacturing. He emphasized that the government’s decision to earmark a significant portion of the defence modernization outlay for procurement through domestic sources and private industries is a step in the right direction.

“This move will not only bolster capacity and capability in the defence sector but also pave the way for a stronger private sector’s participation in the country’s defence ecosystem,” Chandock stated. The focus on domestic procurement is expected to strengthen India’s defence infrastructure and reduce dependence on foreign suppliers, aligning with the broader vision of Aatmanirbhar Bharat.

Chandock also highlighted the budget’s focus on AI and deep tech innovation, noting that these technologies will play a critical role in the defence and precision engineering domains. “The emphasis on new-age tech interventions will help develop a future-ready talent pipeline, ultimately enhancing defence manufacturing capabilities,” he added.

From a broader perspective, Chandock praised the budget’s strategic approach towards achieving the ₹50,000 crore defence export target by 2029. He expressed confidence that the holistic policy framework and technology-driven initiatives outlined in the budget will position India as a key player in the global defence manufacturing landscape.

Union Budget 2025: Swiggy CEO Rohit Kapoor applauds focus on youth, women, farmers, and the poor

Arunika Jain — Sat, 01 Feb 2025 14:28:10 +0000

Rohit Kapoor, CEO of Food Marketplace at Swiggy, has welcomed the Union Budget 2025, praising the government’s targeted initiatives for the poor (Garib), youth (Yuva), farmers (Annadata), and women (Naari). Kapoor emphasized that Finance Minister Nirmala Sitharaman has successfully aligned her policies with these key focus areas, promising long-term empowerment for these crucial sections of society.

“The Honourable Finance Minister said that the focus of the government is on the poor, youth, farmers, and women. She has matched her words with actions, and the policies and measures announced will go a long way in empowering these sections of our society,” Kapoor remarked.

He highlighted how Swiggy is directly involved in advancing these initiatives. The company’s young workforce and extensive delivery partner network are creating significant job opportunities for the youth. Swiggy is also contributing to women’s empowerment by integrating more women into the formal economy through entrepreneurial and gig work opportunities.

Additionally, Kapoor pointed out the role of Swiggy’s retail business in supporting farmers by providing them with direct market access and boosting their income streams. This aligns closely with the government’s agricultural initiatives announced in the budget.

“The Finance Minister’s speech has been very motivating, and we will continue to work hard and contribute in our small way to India’s progress,” Kapoor concluded, reinforcing Swiggy’s commitment to playing an active role in the nation’s economic and social development.

Union Budget 2025: Baba Kalyani of Bharat Forge hails focus on middle class, MSMEs, and Make in India

Arunika Jain — Sat, 01 Feb 2025 14:23:51 +0000

Baba Kalyani, Chairman & MD of Bharat Forge Ltd., has lauded the Union Budget 2025 for its strategic emphasis on middle class empowerment, MSME growth, and the Make in India initiative. He described these three pillars as the “3M’s that give me cheer,” acknowledging their role in accelerating economic growth and driving India’s development.

Kalyani highlighted the boost to the salaried middle class, emphasizing that increased disposable income will spur consumption and fuel economic activity. “A big boost to salaried middle-class will accelerate economic growth,” he noted. He also praised the revised classification and exports push designed to help Indian MSMEs go global, stating this will open new markets and enhance India’s global competitiveness.

The Make in India initiative, particularly in HiTech and labour-intensive industries, was another standout feature for Kalyani. He believes the focused attention on these sectors will attract investments, promoting domestic manufacturing and creating job opportunities.

Kalyani also welcomed the launch of the Manufacturing Mission, Exports Promotion Mission, and the Nuclear Energy Mission, viewing them as key drivers of industrial growth. He applauded initiatives like establishing Cancer Care Centers in every district, which will modernize healthcare and medical infrastructure across the country.

Further, Kalyani acknowledged the government’s efforts in ease of doing business, fiscal prudence, and investment-led growth, noting that these elements reflect a robust blueprint for India’s progressive and inclusive development. “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,” he stated.

Kalyani concluded by emphasizing the budget’s balanced approach, blending economic stability with growth-oriented policies, positioning India for a stronger role in the global economy.

Union Budget 2025: 100% FDI to boost insurance sector growth, says SBI General Insurance MD & CEO Naveen Chandra Jha

Arunika Jain — Sat, 01 Feb 2025 09:15:12 +0000

The Union Budget 2025 has introduced significant reforms for the insurance sector, with 100% FDI being a key highlight. Naveen Chandra Jha, MD & CEO of SBI General Insurance, praised the government’s move, emphasizing its potential to deepen market penetration, attract capital inflows, and integrate global best practices.

“Budget 2025 marks a transformative step for the insurance sector in India, particularly with the introduction of 100% FDI,” Jha stated. He highlighted that this reform will foster competition and help the sector expand its reach, bringing more people under insurance coverage. “This reform is set to drive deeper market penetration by attracting greater capital inflows, fostering competition, and integrating global best practices,” he added.

Jha also welcomed the government’s focus on healthcare infrastructure, particularly the establishment of Day Care Cancer Centres in district hospitals, which aims to improve critical care access. “The government’s commitment to strengthening healthcare infrastructure, including the establishment of Day Care Cancer Centres in district hospitals, is a significant step toward improving critical care access,” he noted. He reaffirmed SBI General’s commitment to bridging the protection gap through broader health insurance penetration in both urban and rural India.

The proposed tax reforms in the budget, including TDS rationalization and increased thresholds for senior citizens, are expected to promote financial inclusion and empower taxpayers. “The proposed tax reforms, including TDS rationalization and increased thresholds for senior citizens, will empower taxpayers and promote greater financial inclusion,” Jha explained.

Jha concluded by emphasizing the budget’s role in creating a robust insurance ecosystem. “Collectively, these initiatives lay the foundation for a robust insurance ecosystem, supporting the government’s vision of ‘Insurance for All’ by 2047,” he said.

With reforms focused on foreign investment, healthcare, and taxation, the Union Budget 2025 sets the stage for significant growth and innovation in India’s insurance sector.

Union Budget 2025: Focus on middle-class tax relief to boost consumption, says PGIM India Mutual Fund CIO Vinay Paharia

Arunika Jain — Sat, 01 Feb 2025 09:12:46 +0000

The Union Budget 2025-26 has been noted for its fiscal prudence and a clear focus on reviving consumption. Vinay Paharia, CIO of PGIM India Mutual Fund, emphasized that the government has prioritized consumption-driven growth over investment demand, aiming to stimulate economic activity by empowering the middle class.

“The Union Budget 2025-26 has adhered to the path of fiscal consolidation and has clearly favoured boosting consumption over investment demand,” Paharia stated. He highlighted that the Finance Minister’s decision to transfer more money into the hands of tax-paying middle-class citizens is expected to lead to a revival in consumption demand, particularly after a slowdown over the past two quarters. “FM has preferred consumption by transferring money in the hands of tax paying middle class. This could lead to improved consumption demand, which had seen a slowdown since last 2 quarters,” he added.

However, Paharia also pointed out that while consumption has been prioritized, there has been a curtailment in capital expenditure. “On the flip side, capital expenditure has been curtailed in a relatively lower base and is now expected to grow in line with the nominal GDP,” he explained. This suggests that while infrastructure investments may continue, their growth will be more measured, aligning with the broader fiscal goals of the government.

The Union Budget 2025’s approach reflects a balanced strategy—focusing on fiscal consolidation while addressing immediate needs to boost consumption and stimulate economic growth, particularly through middle-class tax relief.

Union Budget 2025: Personal tax reforms to boost consumption and benefit retail, says Malabar Group chairman MP Ahammed

News Desk — Sat, 01 Feb 2025 09:10:47 +0000

The Union Budget 2025 has been recognized for its focus on revitalizing consumption and strengthening key sectors of the economy. MP Ahammed, chairman of Malabar Group, praised the government’s approach to boosting domestic demand through personal income tax reforms and policies aimed at enhancing consumer sentiment.

“The budget reflects the government’s continued focus on revitalizing consumption, strengthening domestic manufacturing, and fostering job creation,” Ahammed stated. He emphasized that the budget’s fiscal measures are designed to stimulate urban consumption, particularly within the middle-income segment. “The budget has rightly focussed on offering fiscal impulse to boost consumption. With personal income tax reform, it will free up disposable income to boost urban consumption,” he noted.

The increase in disposable income is expected to have a direct impact on sectors such as retail and jewellery. Ahammed highlighted that higher spending power among middle-class consumers will drive demand growth and support economic expansion. “It will boost the spending power of the middle-income segment and enhance consumer sentiment—both critical drivers of economic growth,” he explained.

For the retail and jewellery sector, the rise in consumption is anticipated to translate into stronger demand, fostering business growth and employment opportunities. “For the retail and jewellery sector, a rise in consumption directly translates into stronger demand, fuelling expansion and employment generation,” Ahammed added.

The Union Budget 2025’s focus on tax relief, consumption-driven growth, and domestic manufacturing is expected to create a positive economic environment, benefiting both businesses and consumers across sectors.

Union Budget 2025: Focus on education, skill development, and digital inclusion to build future-ready workforce, says Cambridge South Asia MD Arun Rajamani

News Desk — Sat, 01 Feb 2025 09:07:27 +0000

The Union Budget 2025 has been widely appreciated for its strategic focus on education, skill development, and technological integration to prepare India’s youth for a Viksit Bharat. Arun Rajamani, Managing Director of Cambridge University Press & Assessment, South Asia, praised the budget’s commitment to building a strong talent pool through increased allocations in education, employment, and skill development.

“We welcome the Budget as it has laid special emphasis on the role of education in our journey towards a Viksit Bharat,” Rajamani stated. He highlighted the government’s increased allocation towards education as a critical move to support India’s economic aspirations. “Skill development is a critical cog in the wheel that will help us achieve our economic aspirations,” he added.

A standout initiative in the budget is the establishment of 50,000 Atal Tinkering Labs (ATLs) in schools, aimed at fostering creativity and innovation among students. “Establishing 50,000 Atal Tinkering Labs in schools marks a transformative leap towards making learners future-ready with creativity and innovation at the heart of it,” Rajamani noted. This initiative will play a pivotal role in nurturing young innovators and preparing them for the evolving demands of the global workforce.

The budget also proposed the allocation of ₹10,000 crore for the Urban Challenge Fund in FY 2025-26, designed to support cities as growth hubs. Rajamani emphasized the potential of this fund to boost edtech companies in addressing urban challenges. “This aims at supporting cities to be growth hubs and can be a boost for edtech companies to solve challenges,” he said.

In addition to urban initiatives, the budget addresses rural education and digital inclusion through the introduction of the Bharatiya Bhasha Pustak Scheme and improved broadband connectivity. “The introduction of Bharatiya Bhasha Pustak Scheme, coupled with improved broadband connectivity, will be pivotal to bridging the digital divide in rural areas and making learning more inclusive,” Rajamani explained. These measures are expected to broaden access to quality education in underrepresented regions.

Recognizing the growing importance of AI and technology in education, Rajamani lauded the government’s investment in higher education infrastructure and the establishment of Centres of Excellence in AI for Education. “Investing in higher education infrastructure along with the introduction of Centres of Excellence in AI for Education will help address the growing need for technically skilled professionals in the GenAI era,” he said. These initiatives will ensure that India’s workforce is equipped with the skills necessary for the digital age.

Lastly, Rajamani welcomed the improved access to student loans, which will make higher education more accessible to a broader segment of the population. “Improved access to student loans is another great initiative,” he concluded.

The Union Budget 2025’s emphasis on education reform, skill development, and technological integration positions India to build a future-ready workforce, driving inclusive growth and supporting the nation’s journey towards becoming a global economic leader.

Union Budget 2025: Income tax relief and SWAMIH Fund II to drive housing demand, says PNB Housing Finance MD Girish Kousgi

Arunika Jain — Sat, 01 Feb 2025 09:01:29 +0000

The Union Budget 2025 has been praised for its focus on housing affordability and measures to strengthen the real estate sector. Girish Kousgi, MD & CEO of PNB Housing Finance, highlighted the budget’s growth-oriented policies and its commitment to resolving housing stress for millions of Indians.

“The Union Budget 2025 reflects the government’s steadfast commitment to strengthening the Indian economy through fiscal prudence and growth-oriented policies,” Kousgi stated. He emphasized that the housing sector remains a critical pillar of economic development, and the budget’s initiatives are poised to make homeownership more accessible.

A key highlight of the budget is the increase in the income tax exemption limit to ₹12 lakh, which Kousgi believes will have a direct impact on the housing market. “The increase in the income tax exemption limit to ₹12 lakh will significantly boost disposable income, enhancing purchasing power and potentially increasing housing demand,” he said. This rise in disposable income is expected to stimulate middle-class homeownership, further driving growth in the housing sector.

Kousgi also welcomed the government’s efforts to address stressed housing projects. “The completion of 50,000 dwelling units under stressed housing projects, with another 40,000 units set to be delivered in 2025, offers much-needed relief to middle-class families burdened by EMIs and rent,” he noted. These measures will provide crucial support to families caught in housing delays, easing financial stress and restoring confidence in the sector.

A major development in the budget is the introduction of SWAMIH Fund II, a ₹15,000 crore blended finance facility aimed at accelerating the completion of an additional one lakh housing units. “The establishment of SWAMIH Fund II will further accelerate the completion of another one lakh housing units, reinforcing the government’s focus on resolving housing stress,” Kousgi remarked. This initiative builds on the success of the Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund, providing critical funding to stalled housing projects.

Kousgi expressed optimism about the long-term outlook for the housing and real estate sectors. “We are optimistic that the sustained economic momentum, coupled with the government’s visionary policies, will drive long-term growth in the housing and real estate sectors, contributing to India’s vision of inclusive and sustainable development,” he concluded.

The Union Budget 2025’s combination of tax relief, housing project completions, and financial support through SWAMIH Fund II is set to revitalize the housing sector, offering a significant boost to homebuyers and contributing to India’s broader economic growth.

Union Budget 2025: fiscal prudence and middle-class tax relief to drive growth, says RBL Bank’s Sagar Shah

Arunika Jain — Sat, 01 Feb 2025 08:59:56 +0000

The Union Budget 2025 has been recognized for striking a careful balance between fiscal consolidation and economic growth. Sagar Shah, Head of Domestic Markets at RBL Bank, highlighted the government’s commitment to maintaining fiscal discipline while boosting consumption and simplifying taxes.

“The budget continues on its roadmap of fiscal consolidation. The government walked the path of fiscal prudence and lowered next year’s fiscal deficit target to 4.4% from the current year’s 4.8% without losing focus on growth,” Shah stated. This reduction signals the government’s determination to manage public finances responsibly, even as it takes steps to stimulate the economy.

A key highlight of the budget, according to Shah, is its focus on consumption and tax simplifications. “Along with that, focus on consumption to promote growth and tax simplifications are the biggest highlights of this budget,” he said. The much-anticipated tax relief for the middle class, including the increase in the income tax exemption limit to ₹12 lakh, is expected to provide a significant boost to disposable income, thereby fueling consumption across various sectors.

Shah emphasized that the new tax code introduced in the budget addresses long-standing concerns of taxpayers. “Overall, a highly constructive budget with a new tax code will take care of the taxpayer’s concerns,” he noted. The simplification of tax structures is anticipated to enhance compliance, reduce administrative burdens, and create a more transparent taxation environment.

The Union Budget 2025’s combination of fiscal prudence, consumption-driven growth, and tax reforms positions India for sustained economic expansion while ensuring financial stability.

Union Budget 2025: Rs 12 lakh tax exemption to drive consumption-led growth, says Raymond Group CMD Gautam Singhania

Arunika Jain — Sat, 01 Feb 2025 08:58:16 +0000

The Union Budget 2025-26 has been hailed as a transformative step towards boosting domestic consumption and strengthening industrial growth. Gautam Singhania, Chairman & Managing Director of Raymond Group, praised the government’s decision to raise the income tax exemption limit to ₹12 lakh, highlighting its potential to stimulate household spending and energize key sectors like retail and real estate.

“The decision to exempt income tax up to ₹12 lakh is a game-changing reform that boosts India’s middle class by increasing disposable income,” Singhania stated. With higher discretionary spending, the middle class, which now drives nearly 60% of domestic consumption, is expected to play a pivotal role in fueling economic growth. “This is expected to drive household spending—an essential growth engine for sectors like retail and real estate,” he added.

Singhania emphasized how consumption-led growth will strengthen market dynamics and stimulate demand across a range of sectors. “Higher discretionary spending signals economic vitality, fueling consumption-led growth and strengthening market dynamics,” he said. The retail sector, particularly in aspirational and premium products, is poised to benefit from this rise in purchasing power.

Beyond tax reforms, Singhania acknowledged the budget’s targeted measures to fortify manufacturing, MSMEs, and domestic consumption. “The Union Budget 2025-26 builds on this reform with targeted measures to fortify manufacturing, MSMEs, and domestic consumption,” he noted. The government’s focus on enhanced credit access, sector-specific incentives for textiles and apparel, and streamlined compliance frameworks are set to boost industrial output and competitiveness.

Singhania highlighted the synergy between consumer spending and industrial growth, emphasizing how the budget creates a comprehensive strategy for sustained economic expansion. “With the middle class now driving nearly 60% of domestic consumption, rising purchasing power is likely to accelerate demand for aspirational and premium products. This holistic strategy positions the economy for sustained expansion by creating a strong synergy between consumer spending, industrial growth, and workforce empowerment,” he concluded.

The Union Budget 2025-26’s balanced focus on tax relief, manufacturing incentives, and credit accessibility is expected to drive both short-term demand and long-term economic resilience, positioning India for robust and sustained growth.

Union Budget 2025: Tax reforms and infrastructure investments to boost consumer demand, says Kalyan Jewellers MD TS Kalyanaraman

Arunika Jain — Sat, 01 Feb 2025 08:52:28 +0000

The Union Budget 2025-26 has been welcomed by industry leaders for its targeted approach towards economic growth, infrastructure development, and consumer demand stimulation. TS Kalyanaraman, Managing Director of Kalyan Jewellers, praised the budget for its strategic focus on creating a conducive environment for growth in sectors like manufacturing, urban development, and retail.

“The Union Budget 2025-26, presented by Finance Minister Smt. Nirmala Sitharaman, has a laser sharp focus on boosting economic growth,” Kalyanaraman stated. The budget outlines definitive steps in infrastructure investment and provides key support for agriculture, manufacturing, and urban development, signaling the government’s intent to sustain the current growth momentum.

Kalyanaraman highlighted the positive impact of the budget on businesses expanding into tier-2 and tier-3 cities. “As brands continue their growth in the real Bharat, the Centres of Excellence for Skilling, coupled with global skilling partnerships, will add to the available talent pool,” he noted. These initiatives will ensure a steady supply of skilled professionals, supporting businesses in their expansion across India’s diverse markets.

The tax reforms introduced in the budget were particularly praised for their potential to increase discretionary income among consumers. “The tax reforms proposed in the Budget will ensure that the consuming class will have enhanced discretionary income in their hands, leading to a significant demand stimulus,” Kalyanaraman explained. The increase in the income tax exemption limit to ₹12 lakh is expected to boost consumer spending, benefiting sectors like jewelry, luxury goods, and retail.

Kalyanaraman also emphasized the broader impact of the budget on market sentiment. “This Union Budget will definitely energise the market sentiment and is another key step to realising our combined vision of a Viksit Bharat,” he said. The budget’s comprehensive approach to infrastructure, taxation, and skilling is expected to create a ripple effect across industries, fostering economic resilience and sustainable growth.

In conclusion, the Union Budget 2025-26’s focus on economic reforms, consumer empowerment, and infrastructure development is set to stimulate market demand and support India’s trajectory towards becoming a global economic powerhouse.

Union Budget 2025: Reforms in infrastructure, taxation, and credit access to boost manufacturing and startups, says ASSOCHAM president Sanjay Nayar

News Desk — Sat, 01 Feb 2025 08:45:49 +0000

The Union Budget 2025 has received a positive response from industry leaders, highlighting its balanced focus on infrastructure, investment, and ease of doing business. Sanjay Nayar, President of ASSOCHAM and Founder & Chairman of Sorin Investment, emphasized how the budget’s reforms will propel India’s manufacturing sector, support startups and MSMEs, and foster a globally competitive business environment.

“This budget lays a strong foundation for India’s growth trajectory by focusing on infrastructure, investment, skilling, and ease of doing business,” Nayar stated. The budget’s emphasis on sectoral incentives and tax simplification is expected to provide a significant boost to manufacturing and exports, enhancing India’s global competitiveness.

Nayar praised the budget’s trust-based regulatory approach and enhanced credit access, noting that these reforms will create a more business-friendly environment. “With a trust-based regulatory approach and enhanced credit access, industries are well-positioned to thrive in a globally competitive environment,” he said. The focus on reducing regulatory burdens and simplifying taxation is anticipated to attract private capital and accelerate growth across sectors.

The budget also prioritizes MSMEs and startups, with extended support aimed at strengthening India’s entrepreneurial spirit. “The extended support to MSMEs and startups will go a long way in strengthening India’s entrepreneurship spirit and enhance job creation for the future economy,” Nayar remarked. This includes reforms in credit access, simplified regulatory frameworks, and sector-specific incentives that will foster innovation and growth in the startup ecosystem.

Nayar highlighted the alignment of the budget with the vision of Startup Mahakumbh, emphasizing the role of entrepreneurship in shaping India’s long-term economic resilience. “In line with Startup Mahakumbh’s vision of playing a vital role in shaping India’s entrepreneurial landscape and long-term economic resilience, we believe this will surely give a fillip to India’s startup ecosystem,” he said.

He concluded by stating that the simplified taxation and regulatory frameworks introduced in the budget will not only attract private capital but also accelerate economic growth. The Union Budget 2025’s comprehensive focus on infrastructure development, tax reforms, and entrepreneurial support sets the stage for India’s sustained growth and global leadership in innovation and industry.

Union Budget 2025: Rs 20,000 crore allocation for private R&D to position India as global tech leader, says Ascendion’s Shouvik Mazumdar

News Desk — Sat, 01 Feb 2025 08:42:03 +0000

The Union Budget 2025 has been lauded by technology leaders for its strategic focus on innovation, AI, and digital infrastructure. Shouvik Mazumdar, Senior Director of Front-end Engineering at Ascendion, emphasized how the budget’s forward-thinking policies will accelerate India’s position as a global technology hub while fostering inclusive growth across industries.

“The Union Budget 2025 shows a proactive approach by the Government in positioning India as a global leader in technology, innovation, and economic growth,” Mazumdar stated. The government’s decision to allocate ₹20,000 crore to fuel private sector-led research and innovation underscores its commitment to driving progress in critical sectors like healthcare, agriculture, and IT.

A significant highlight of the budget is the creation of Centres of Excellence for cutting-edge technologies, particularly in artificial intelligence (AI). “These centers will foster stronger partnerships with academic institutions, develop new skills, and ensure India has a future-ready workforce that can meet the global demands of the dynamic tech sector,” Mazumdar said. This initiative aligns with India’s broader goal of becoming a leader in Gen AI and other transformative technologies.

Mazumdar also praised the government’s focus on supporting startups and micro-enterprises. “Major schemes like the enhancement in credit guarantee covers for various sectors and investment in the BharatTradeNet system for international trade will help support startups and micro enterprises to enable the development of new technologies and services,” he noted. These measures are expected to boost entrepreneurship and facilitate innovation-driven growth across industries such as healthcare, BFSI, retail, and telecom.

Investments in Atal Tinkering Labs and digital literacy programs were also highlighted as critical enablers for preparing India’s youth for a technology-focused economy. “These programs will equip India’s youth with the skills required to thrive in a digital-first world,” Mazumdar said.

The budget’s focus on regulatory reforms—including the revamping of the KYC process and increasing FDI limits in the insurance sector—was commended for creating a more streamlined and business-friendly environment. “These reforms will help streamline operations for tech businesses, making it easier to innovate and scale,” he added.

Additionally, enhanced broadband and rural connectivity investments are expected to drive digital inclusivity across regions, expanding the reach of India’s digital economy. “These initiatives showcase the Government’s holistic approach towards transforming India’s technological ecosystem, which supports innovation and prepares the nation to lead in the global tech landscape,” Mazumdar concluded.

The Union Budget 2025’s comprehensive focus on R&D, AI, and digital infrastructure is set to strengthen India’s position in the global technology arena, driving economic growth and fostering technological innovation across industries.

Union Budget 2025: Spot-on budget boosts consumer spending and strengthens debt market, says MIRA Money’s Anand K. Rathi

Arunika Jain — Sat, 01 Feb 2025 08:39:37 +0000

The Union Budget 2025 has met expectations by focusing on boosting consumption and maintaining fiscal prudence. Anand K. Rathi, Co-Founder of MIRA Money, praised the budget for aligning closely with anticipated goals, emphasizing its positive impact on consumer confidence and the debt market.

“The budget was expected to boost consumption by providing more money to the people. From our perspective, consumerism was the anticipated theme, and the budget has successfully achieved that goal. I would say this budget is spot on in terms of expectations versus actual results,” Rathi stated. The government’s income tax reforms, including raising the exemption limit to ₹12.75 lakh for salaried individuals (with standard deductions), are expected to put more disposable income in the hands of consumers, stimulating demand across sectors.

Rathi pointed out that while major reforms or significant capital expenditures were not anticipated, a business-as-usual approach was expected—and delivered. “We did anticipate a business-as-usual approach similar to last year, and that’s exactly what we got,” he noted. The budget’s fiscal deficit target of 4.4% of GDP—slightly better than the expected 4.5%—is seen as a positive sign for the debt market, indicating lower debt borrowing and fostering confidence in the country’s fiscal health. “This is a positive sign for the debt market, indicating lower debt borrowing and fostering optimism about its future,” Rathi added.

In the context of global economic tensions and the need to balance internal and external factors, Rathi praised the budget’s pragmatic approach. “Given the current global tensions and the need to focus on both internal and external factors, this budget has made a positive impact. It has effectively addressed the immediate needs rather than just discussing long-term requirements, instilling a sense of security about the government’s economic decisions,” he remarked.

Tax reforms were a significant highlight of the budget. Rathi provided a detailed breakdown of the new tax thresholds and potential savings for individuals:

For income below ₹12.75 lakh (with the standard deduction), individuals will pay zero tax.
For income up to ₹18 lakh, individuals can save ₹70,000 in taxes.
For income up to ₹24 lakh, tax savings can reach up to ₹1.1 lakh.
Even those earning just below ₹12.75 lakh will benefit from ₹80,000 in tax savings.

These tax changes are expected to boost consumer spending and drive economic growth in sectors such as FMCG, retail, and services.

Rathi concluded by stating, “Overall, it is a robust budget across all aspects.” The Union Budget 2025’s balanced approach to consumption, fiscal discipline, and market stability has positioned India for steady growth, while providing immediate benefits to both individuals and the broader economy.

Union Budget 2025: Renewable energy push and manufacturing incentives to create 3 million green jobs, says Suzlon’s Girish Tanti

Arunika Jain — Sat, 01 Feb 2025 08:33:07 +0000

The Union Budget 2025 has been widely praised by leaders in the renewable energy sector, with particular attention given to its comprehensive focus on clean technology, manufacturing self-reliance, and grid reforms. Girish Tanti, Vice Chairman of Suzlon Group, emphasized the budget’s role in accelerating India’s clean energy transition and fostering sustainable economic growth.

“The government budget seems to be a significant step towards achieving India’s ambitious energy goals. By strengthening Aatmanirbhar Bharat across manufacturing and agriculture, with a focus on clean tech, wind, solar, EV, and battery storage, the budget aims to accelerate self-reliance in wind and solar manufacturing,” Tanti stated. The budget’s emphasis on expanding domestic production capabilities aligns with India’s broader mission of reducing dependence on imports and building a robust renewable energy ecosystem.

A key highlight of the budget is the National Manufacturing Mission’s targeted support for all renewable energy sources, which Tanti praised as a vital move. “This reinforces India’s commitment to a level playing field and ambitious energy goals. The expected outcomes are promising: surpassing the 500 GW target and creating nearly 3 million green jobs,” he noted.

The budget also addresses critical electricity distribution reforms and intra-state transmission upgrades, both of which are essential for integrating renewable energy into the national grid. Tanti remarked, “Incentives for electricity distribution reforms and intra-state transmission upgrades will likely improve the financial health of power companies and enable better grid integration of renewables.”

Tanti emphasized the need for a holistic approach to achieving India’s green energy transition. “The key word is Eco-System: the nation cannot rely on just individual solutions to achieve its green transition at the lowest cost to customers. It requires a judicious mix of wind, solar, batteries, and other non-fossil technologies, together with distribution reforms,” he said.

Highlighting the importance of national security and local expertise, Tanti stated, “For national security, we need to build this expertise locally, requiring the build-out of all these industries at scale. We are happy that this budget recognises this need.”

He concluded by expressing Suzlon’s commitment to collaborating with the government and industry partners: “Suzlon is keen to work with the government and together with our fellow industrial groups to realise this vision.”

The Union Budget 2025’s comprehensive approach to renewable energy, manufacturing self-reliance, and grid modernization is set to not only propel India toward its clean energy targets but also stimulate job creation and strengthen the overall economy.

Union Budget 2025: Infrastructure boost and Jal Jeevan Mission extension to drive piping industry growth, says Finolex Industries MD Saurabh Dhanorkar

Arunika Jain — Sat, 01 Feb 2025 08:31:10 +0000

The Union Budget 2025 has drawn positive responses from the infrastructure and piping sectors, with leaders commending the government’s focus on sustainable development and rural water management. Saurabh Dhanorkar, Managing Director of Finolex Industries, highlighted how the budget’s infrastructure priorities and water management initiatives will open new growth avenues for the piping industry.

“The Union Budget’s strong emphasis on infrastructure development, particularly through the extension of the Jal Jeevan Mission until 2028, reflects a firm commitment to sustainable water management and rural development,” Dhanorkar stated. The Jal Jeevan Mission, aimed at providing functional tap connections to rural households, is a cornerstone in India’s quest for water security. By extending this mission, the government has signaled its intent to ensure long-term access to clean and safe water across the country.

Dhanorkar also emphasized the importance of improving the quality of infrastructure and the operation and maintenance of rural piped water supply schemes through Jan Bhagidhari (community participation). “The focus on enhancing infrastructure quality and involving communities in water management is a critical step toward ensuring long-term water security,” he said. The budget’s provision for separate MoUs with states and UTs to promote citizen-centric water service delivery further reinforces this commitment, ensuring that water infrastructure is not only built but also maintained efficiently.

Additionally, Dhanorkar pointed to initiatives like the Prime Minister Dhan Dhanya Krishi Yojana, which focuses on improving irrigation facilities in agricultural regions. “These initiatives will indirectly support the growth of water infrastructure across agricultural regions, creating a ripple effect for industries like ours,” he noted.

Together, these measures present significant opportunities for the piping industry to contribute to the development of robust and sustainable water solutions. Dhanorkar concluded by saying, “These policies will benefit both rural communities and the broader infrastructure ecosystem, positioning the piping industry as a key player in India’s sustainable growth journey.”

The Union Budget 2025’s comprehensive approach to water management, rural development, and infrastructure expansion is expected to drive strong growth in the piping sector, contributing to the nation’s broader sustainability goals.

Union Budget 2025: Focus on rural development, manufacturing, and tax reforms to drive FMCG growth, says Godrej Consumer Products CFO Aasif Malbari

Arunika Jain — Sat, 01 Feb 2025 08:28:59 +0000

The Union Budget 2025 has garnered positive reactions from the FMCG sector, with leaders praising its balanced focus on rural development, manufacturing, and consumer spending. Aasif Malbari, Chief Financial Officer of Godrej Consumer Products Ltd., highlighted how these initiatives will create new growth avenues for the industry, emphasizing the budget’s role in building a consumption-driven economy.

“The Union Budget 2025 takes a balanced approach by strengthening rural infrastructure, manufacturing, and consumer spending—three critical pillars for the FMCG sector,” Malbari stated. The government’s focus on rural development and job creation is expected to stimulate economic activity in semi-urban and rural areas, driving higher consumption and opening up new markets for FMCG companies.

Malbari pointed to the introduction of the National Manufacturing Mission as a key factor in enhancing domestic production capabilities. “The National Manufacturing Mission is a strong step toward enhancing domestic production, reducing import dependencies, and improving cost efficiencies,” he said. This initiative is set to promote innovation, boost local manufacturing, and support home-grown brands, helping them become more competitive in both domestic and international markets.

Another critical element of the budget is the tax reforms targeting the middle class, including the increase in the income tax exemption limit to ₹12 lakh. Malbari emphasized the impact of these reforms on consumer behavior: “Tax reforms benefiting the middle class will increase disposable income, further fueling demand across essential and aspirational FMCG categories.” This increase in purchasing power is expected to drive growth in both everyday necessities and premium personal care products, expanding the market reach for FMCG brands.

Malbari concluded by stating, “Overall, the Budget lays a strong foundation for a more consumption-driven economy, creating significant growth opportunities for the FMCG industry.” The combined focus on rural development, manufacturing incentives, and consumer tax relief is expected to strengthen the FMCG sector’s growth trajectory in the coming years, positioning India for sustained economic expansion.

Union Budget 2025: Income tax reforms and manufacturing incentives to drive FMCG growth, says Joy Personal Care chairman Sunil Agarwal

Arunika Jain — Sat, 01 Feb 2025 08:27:32 +0000

The Union Budget 2025 has been well-received by leaders in the FMCG sector, with particular praise for reforms aimed at boosting consumer spending, supporting inclusive growth, and enhancing manufacturing capabilities. Sunil Agarwal, Co-founder and Chairman of Joy Personal Care (RSH Global), highlighted how the budget’s strategic initiatives will drive demand and foster long-term growth in the beauty and personal care industry.

“We welcome the government’s budget for its strategic focus on economic growth through increased consumer spending power. The proposed income tax reforms are poised to enhance disposable income, driving demand across the FMCG sector, including beauty and personal care,” Agarwal stated. The budget’s announcement of raising the income tax exemption limit to ₹12 lakh is expected to leave more money in the hands of consumers, stimulating consumption across sectors.

Agarwal emphasized that the budget’s inclusive development initiatives—targeting disadvantaged groups, youth, farmers, and women—will further strengthen purchasing power, contributing to sustained market demand. He noted that initiatives to boost farm productivity, manufacturing, and exports, such as the national mission for high-yield crops and subsidized credit for farmers, will help fortify supply chains and optimize input costs, ensuring stable growth for the FMCG sector.

In addition to consumer-focused reforms, Agarwal praised the government’s efforts to create a more business-friendly environment. “Taxation reforms, including potential corporate tax reductions and streamlined tax procedures, will foster a more competitive and business-friendly landscape,” he said. These measures are expected to reduce compliance burdens and encourage investment in the sector.

The budget’s focus on digital infrastructure, skill development, and MSME promotion was also highlighted as key to enabling sustained consumption and economic growth. Agarwal pointed to the National Manufacturing Mission as a transformative initiative that will incentivize manufacturing activities, enhance production capabilities, and promote innovation. “The introduction of the National Manufacturing Mission reinforces this vision by improving the global competitiveness of Indian manufacturing—a significant advantage for home-grown brands,” he added.

Overall, Agarwal expressed optimism that the Union Budget 2025 will not only strengthen the FMCG sector but also position Indian brands for greater success in both domestic and international markets. The combined focus on consumer empowerment, supply chain optimization, and manufacturing incentives creates a robust framework for sustained growth in the years ahead.

Union Budget 2025: Strategic push for AI and talent development to accelerate India’s growth, says upGrad co-founder Mayank Kumar

Arunika Jain — Sat, 01 Feb 2025 08:23:59 +0000

The Union Budget 2025 has been met with optimism from the education and edtech sectors, particularly for its focus on artificial intelligence (AI), skill development, and public-private partnerships. Mayank Kumar, Co-Founder of upGrad, praised the government’s efforts in laying down a strong foundation for the future of India’s workforce and technological advancement.

“This year’s budgetary allocations provide a strategic push toward AI infrastructure and talent acceleration within the nation. Setting up new Centers of Excellence for skilling and AI, encouraging more global skilling partnerships, and adding new IIT and MBBS seats are really high-power moves, which I believe will enhance our talent development mechanism, producing a steady pipeline for careers of tomorrow,” Kumar said.

The budget outlines significant investments in AI research centers and Centers of Excellence for skilling, which aim to integrate advanced technologies into education while fostering a future-ready workforce. Additionally, the allocation of 75,000 new medical seats and the establishment of new IITs reflect a comprehensive strategy to address both healthcare and technology sectors, essential pillars for India’s long-term growth.

Kumar emphasized that India’s demographic potential is one of its greatest assets. “We are rich in people resources, and these are the right steps to realize our demographic potential,” he noted. He also highlighted the importance of public-private partnerships in accelerating holistic national growth, leveraging contributions from every state in the country.

“With a more tiered learning approach that will come into play, we are ensuring our youth engages with the right pedagogy from the very beginning—foundational to acquiring core and advanced skills,” Kumar said. He believes that this educational framework will help expand India’s exportable intellectual capital, positioning the country as a leader in global talent markets.

Kumar concluded by expressing confidence in India’s trajectory: “This truly is the time for India to leap and lead.” The combination of strategic education reforms, AI infrastructure development, and public-private collaboration sets the stage for India to emerge as a global hub for technology and skilled talent in the coming years.

Union Budget 2025: Praised for tax relief and exports push, but gaps remain in plant-based food policy, says GoodDot founder Abhishek Sinha

News Desk — Sat, 01 Feb 2025 08:21:56 +0000

The Union Budget 2025 has been largely welcomed by industry leaders for its focus on fiscal stability, tax reforms, and sectoral growth initiatives. Abhishek Sinha, Founder of GoodDot, praised the government’s efforts in strengthening the economy while highlighting key areas where more attention is needed, particularly in the plant-based food sector.

“The Union Budget 2025 takes a balanced approach, focusing on both stability and progress. The lower fiscal deficit, tax relief, and support for key industries will strengthen the economy. The increase in income tax exemption limits means more money in people’s hands, boosting consumption and driving business growth—a win for both consumers and industries,” Sinha said. He also acknowledged the positive impact of programs like the Export Promotion Mission and incentives for high-yielding crops, which will enhance India’s global competitiveness. Additionally, the budget’s emphasis on healthcare and infrastructure was seen as a critical step for long-term development.

However, Sinha expressed disappointment over the lack of focus on the plant-based food sector, which he believes is a missed opportunity given India’s potential to become a global leader in sustainable food production. “While the budget does well to support agriculture, food processing—especially plant-based foods—needs more attention. India has the potential to be a global leader in plant-based proteins, but for that, we need policy support,” he emphasized.

Sinha suggested that the National Mission for High-Yielding Crops should extend its focus to include high-protein plant ingredients like soy, pea, and millet, which are essential for the growing plant-based food industry. This aligns with the government’s Mission LiFE initiative, aimed at promoting sustainable lifestyles and addressing environmental challenges.

Referring to the Economic Survey 2025, Sinha highlighted that food waste contributes 8% of global greenhouse gas emissions, and a shift towards plant-based diets could significantly reduce individual carbon footprints—by up to 2.1 tons annually for a vegan diet and 1.5 tons for vegetarians. He stressed that India, as a leader in sustainability efforts, should incentivize plant-based food alternatives to meet its climate goals.

To support this vision, Sinha called for GST rationalization on plant-based foods and their inclusion in government incentive schemes. “Making plant-based foods more affordable through GST rationalization and including them in incentive schemes would be a game-changer. Household consumption accounts for two-thirds of global emissions, and nudging people towards sustainable dietary choices is an idea whose time has come,” he noted.

Sinha concluded by stating that India is uniquely positioned to lead the world in sustainable, ethical food choices, which can create jobs, boost exports, and contribute to a healthier planet. While the budget provides a solid foundation for growth across sectors, targeted support for the plant-based food industry could propel India to the forefront of the global sustainability movement.

Union Budget 2025: Education reforms and tax relief to boost accessibility, says Propelld’s Sagar Kaushik

News Desk — Sat, 01 Feb 2025 08:18:21 +0000

The Union Budget 2025 has introduced a series of transformative reforms aimed at enhancing education accessibility and fostering skill development across India. From increasing medical seats to establishing AI research centers, the government has taken decisive steps to strengthen the country’s knowledge economy.

Sagar Kaushik, Associate Director of Growth at Propelld, lauded the Finance Minister’s initiatives, stating, “We would like to congratulate the Finance Minister for including transformative reforms to boost education accessibility for India’s youth. The increase in medical and other seats in medical institutes, targeted focus on Centre of Excellence for AI for education, the Atal Tinkering labs in government schools, and skill development avenues are initiatives to help build India’s knowledge base – a crucial element of a robust economy.”

One of the key announcements was the addition of 75,000 new medical seats over the next five years, addressing the growing demand for healthcare professionals in the country. Furthermore, the establishment of AI research centers and Atal Tinkering Labs in government schools highlights the government’s focus on equipping students with future-ready skills in emerging technologies.

In addition to educational infrastructure, personal tax reforms and the removal of TCS (Tax Collected at Source) on remittances for education purposes were also announced. Kaushik emphasized the importance of these financial reforms, stating, “Personal tax reforms and removal of TCS for remittance on education purposes will help parents to save for their children’s education by investing prudently.” This move is expected to ease the financial burden on families, making higher education more accessible and affordable.

Overall, these reforms reflect a comprehensive strategy to empower India’s youth, promote digital literacy, and build a strong foundation for the country’s future workforce.

Union Budget 2025: UPI-linked credit cards for street vendors to boost financial inclusion, says Mudrex CTO

News Desk — Sat, 01 Feb 2025 08:10:48 +0000

The Union Budget 2025 introduced a pivotal initiative aimed at enhancing financial inclusion for street vendors by linking Unified Payments Interface (UPI) with credit cards. This move is expected to revolutionize the way street vendors access credit and digital payment solutions, bridging a critical gap in the informal economy.

Reacting to this development, Mr. Alankar Saxena, Co-founder & CTO of Mudrex, emphasized the broader impact of this initiative. “The Finance Minister’s announcement in the 2025 budget to link UPI with credit cards for street vendors marks a significant step toward financial inclusion. It provides vendors with easier access to digital payments and credit, empowering them economically. This initiative will promote a cashless economy, boost transparency, and drive growth, benefiting both vendors and consumers while supporting the broader push for digital financial services in India,” he said.

The integration of UPI with credit cards aims to streamline transactions for millions of street vendors across the country, offering them easier access to formal financial channels. This is expected to reduce reliance on cash transactions, promote transparency in small-scale trade, and provide vendors with the necessary credit to expand their businesses.

In addition to facilitating digital transactions, this initiative is likely to contribute to the government’s broader agenda of fostering a cashless economy and improving financial literacy among small business owners. By providing vendors with more flexible credit options, the government hopes to drive economic growth from the grassroots level, creating a more inclusive and robust financial ecosystem in India.

Union Budget 2025: Capital expenditure of ₹1.8 trillion for defense, ₹2.52 trillion for railways, and ₹2.72 trillion for roads announced

News Desk — Sat, 01 Feb 2025 08:03:04 +0000

The Union Budget 2025-26 outlines a strategic capital expenditure plan, focusing on critical sectors such as defense, railways, and roads. This balanced approach highlights the government’s commitment to bolstering national security, enhancing transportation infrastructure, and sustaining economic growth, while maintaining fiscal discipline.

Defense: Capital outlay rises to strengthen national security

The defense sector witnessed a notable increase in capital outlay, underscoring the government’s continued focus on modernizing and strengthening the country’s defense capabilities. The budget estimate (BE) for FY25 stood at ₹1.72 trillion, while the revised estimate (RE) for FY25 was slightly lower at ₹1.59 trillion. For FY26, the capital outlay is set to rise to ₹1.8 trillion, reflecting a 4.6% increase over the FY25 budget estimate and a significant 13.3% growth over the revised FY25 figure.

Railways: Consistent capital outlay at ₹2.52 trillion

The railways sector has seen a consistent allocation of capital expenditure, signaling the government’s intent to consolidate and optimize ongoing projects. The capital outlay for FY25 BE, FY25 RE, and FY26 BE is uniformly pegged at ₹2.52 trillion, indicating 0% growth year-on-year.

Roads: Sustained focus with ₹2.72 trillion allocation

The roads sector has also received a consistent allocation, emphasizing the importance of ongoing infrastructure projects. The capital outlay for roads remains steady at ₹2.72 trillion for FY25 BE, FY25 RE, and FY26 BE, marking 0% growth over the past year.

The Union Budget 2025-26 reflects a thoughtful allocation of capital expenditure, balancing growth imperatives with fiscal prudence. The increased outlay in defense underscores a focus on national security and self-reliance in defense manufacturing, while the steady allocations for railways and roads indicate a commitment to completing existing projects and optimizing infrastructure development.

This balanced approach ensures that critical sectors continue to drive India’s long-term growth trajectory, fostering economic resilience and development while adhering to fiscal responsibility.

Union Budget 2025 highlights: No tax on income up to Rs 12 lakh, Rs 1 lakh crore urban fund, agriculture boost, 22 lakh new jobs, and major reforms in infrastructure, education, and trade

News Desk — Sat, 01 Feb 2025 07:32:14 +0000

The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, introduced significant reforms across agriculture, industry, education, housing, finance, and trade, with a strong focus on inclusive growth and economic resilience. The most notable announcement was the exemption of income tax for individuals earning up to ₹12 lakh annually, providing much-needed relief to the middle class. Here are the key highlights:

Agriculture & Rural Development

The Dhan Dhanya Yojana will be launched in 100 districts to enhance agricultural productivity.
A 6-year mission targeting increased production of Tur, Urad, and Masoor dal was announced.
A Makhana Board will be established in Bihar to promote the regional delicacy.
Central agencies will procure pulses for the next four years to stabilize farmer incomes.
New schemes for vegetable and fruit production will be rolled out in collaboration with state governments.
Marine sector development initiatives aim to boost aquaculture and fisheries.
A push for self-reliance in edible oils was announced, along with raising the Kisan Credit Card limit to ₹5 lakh.
A new urea plant will be set up in Assam to improve fertilizer supply.

Industry & Infrastructure

Special schemes will support the footwear and leather industries, expected to create 22 lakh jobs.
India will position itself as a global hub for toy manufacturing.
The National Manufacturing Mission will be launched to boost industrial growth.
₹1 lakh crore will be allocated for urban development projects.
The ship-breaking industry will receive special support.
The Udaan scheme will expand regional connectivity to more cities, with a new airport planned in Bihar.

Education & Research

More IITs will be established, alongside the addition of 75,000 new medical seats over the next five years.
Special AI research centers will be created to foster innovation.
All government secondary schools will be equipped with broadband under the BharatNet project.
₹20,000 crore will be invested in private sector R&D.
A focus on promoting Indian languages in education through the Bharatiya Bhasha Pustak Scheme.

Housing & Tourism

40,000 homes will be built under the SWAMIH scheme for affordable housing.
52 new tourist destinations will be developed in partnership with state governments, with special attention to sites related to Buddha’s life.

Finance & Taxation

A new income tax bill will be introduced next week, simplifying tax structures.
No income tax for individuals earning up to ₹12 lakh, offering significant relief to the middle class.
Special credit cards will be launched for small businesses and vendors, with UPI-linked cards having a ₹30,000 limit.
Senior citizens will benefit from tax exemptions up to ₹1 lakh and simplified TDS rules.
TDS exemption on rent has been increased to ₹6 lakh, and no penalties will apply for delayed TCS payments.
100% FDI and FPI limits in the insurance sector were introduced, alongside simplified RE-KYC processes.

Trade & Customs

A new mining policy will be introduced, while custom duties on 36 life-saving medicines have been removed.
Custom duty on electronic goods has been adjusted, with no primary duty on lead and zinc.
Duty on crust leather has also been eliminated to support the leather industry.

Biggest Announcement

The most significant announcement of the Union Budget 2025 is the complete exemption from income tax for individuals earning up to ₹12 lakh annually. This move is expected to boost household savings, consumption, and overall economic activity, benefiting the middle class significantly.

The Union Budget 2025 aims to balance fiscal discipline with growth initiatives, focusing on empowering sectors critical for long-term economic resilience and inclusive development.

Union Budget 2025: Fiscal deficit pegged at 4.4% of GDP, government targets Rs 50.65 lakh crore in total expenditure

News Desk — Sat, 01 Feb 2025 07:12:06 +0000

The Union Budget 2025-26 has laid out the government’s roadmap for fiscal consolidation while managing increased expenditure. The Finance Minister announced that the fiscal deficit for 2025-26 is estimated at 4.4% of GDP, down from the 4.8% projected for 2024-25. This reflects the government’s commitment to reducing the fiscal deficit in line with the Fiscal Responsibility and Budget Management (FRBM) roadmap.

Revised estimates for 2024-25

Total receipts (excluding borrowings): ₹31.47 lakh crore
Net tax receipts: ₹25.57 lakh crore
Total expenditure: ₹47.16 lakh crore
Capital expenditure: ₹10.18 lakh crore
Fiscal deficit: 4.8% of GDP

Budget estimates for 2025-26

Total receipts (excluding borrowings): ₹34.96 lakh crore
Net tax receipts: ₹28.37 lakh crore
Total expenditure: ₹50.65 lakh crore

Financing the fiscal deficit

To cover the fiscal deficit, the government plans net market borrowings of ₹11.54 lakh crore from dated securities. Additionally, gross market borrowings are estimated at ₹14.82 lakh crore, with the remaining balance expected from small savings and other sources.

This fiscal roadmap signals the government’s focus on balancing fiscal prudence with developmental spending, aiming to reduce debt while sustaining economic growth.

Union Budget 2025: Major income tax relief for salaried Indians with zero tax up to ₹12.75 lakh

News Desk — Sat, 01 Feb 2025 07:03:53 +0000

In a significant move aimed at providing relief to the middle class, the Union Budget 2025 has introduced sweeping reforms in personal income tax, particularly benefiting salaried individuals. The Finance Minister announced that under the new tax regime, there will be no income tax payable on annual incomes up to ₹12 lakh. For salaried taxpayers, this limit is effectively increased to ₹12.75 lakh due to the standard deduction of ₹75,000.

Impact on salaried individuals: Examples

To better understand the impact of these reforms, here are some examples of tax liabilities under the new regime:

Income of ₹8 lakh
- Old tax regime: ₹30,000 tax payable
- New tax regime: ₹20,000 tax payable
- Benefit: ₹10,000 saved
Income of ₹10 lakh
- Old tax regime: ₹50,000 tax payable
- New tax regime: ₹40,000 tax payable
- Benefit: ₹10,000 saved
Income of ₹12 lakh
- Old tax regime: ₹80,000 tax payable
- New tax regime: ₹60,000 tax payable
- Standard deduction for salaried individuals: ₹75,000
- Effective income considered: ₹11.25 lakh
- Final tax payable: Zero
Income of ₹18 lakh
- Old tax regime: ₹1.7 lakh tax payable
- New tax regime: ₹1.2 lakh tax payable
- Benefit: ₹50,000 saved
Income of ₹25 lakh
- Old tax regime: ₹4.1 lakh tax payable
- New tax regime: ₹3 lakh tax payable
- Benefit: ₹1.1 lakh saved

Wider implications of the reforms

These reforms are expected to result in a revenue loss of ₹1 lakh crore in direct taxes and ₹2,600 crore in indirect taxes, according to the Finance Minister. However, the government believes the move will spur economic activity by increasing disposable incomes, leading to higher consumption and investment.

The tax relief comes as part of the government’s broader strategy to strengthen the middle class and position India as a ‘Viksit Bharat’ (developed nation) by 2047. By reducing the tax burden and promoting financial well-being, the government aims to stimulate growth while reinforcing its trust in the contributions of salaried and middle-class taxpayers.

Budget 2025 Income Tax [EXPLAINED]: Zero income tax till Rs 12 lakh under new tax regime, slabs revised

Arunika Jain — Sat, 01 Feb 2025 06:58:46 +0000

The Union Budget 2025 has introduced sweeping reforms in personal income tax, particularly targeting the middle-class segment. Under the new tax regime, individuals earning up to ₹12 lakh annually will be exempt from paying income tax. For salaried taxpayers, the exemption limit extends to ₹12.75 lakh, thanks to a standard deduction of ₹75,000.

Revised Tax Slabs:

0-4 lakh: Nil
4-8 lakh: 5%
8-12 lakh: 10%
12-16 lakh: 15%
16-20 lakh: 20%
20-24 lakh: 25%
Above 24 lakh: 30%

Key Highlights on Income Tax:

Tax Rebate for Incomes up to ₹12 lakh:
Individuals earning up to ₹12 lakh will receive a tax rebate, ensuring no tax liability. This is a substantial increase from the previous limit of ₹7 lakh.
Examples of Tax Benefits:
- Income of ₹8 lakh:
  Previously, tax liability was ₹30,000. Under the new regime, it is reduced to ₹20,000, and with the rebate, the final tax payable is zero.
- Income of ₹12 lakh:
  Earlier, taxpayers would owe ₹80,000. Now, they receive a rebate of ₹80,000, making their tax liability zero.
- Income of ₹18 lakh:
  Taxpayers will benefit from a ₹70,000 reduction in taxes, decreasing their liability from ₹2.4 lakh to ₹1.7 lakh.
- Income of ₹25 lakh:
  A reduction of ₹1.1 lakh in tax liability brings the amount down from ₹4.4 lakh to ₹3.3 lakh.
Impact on Government Revenue:
The reforms will lead to a revenue loss of approximately ₹1 lakh crore in direct taxes and ₹2,600 crore in indirect taxes.

Additional Proposals:

Doubling of Tax Deduction Limit for Senior Citizens:
The limit for tax deductions on interest for senior citizens has been doubled from ₹50,000 to ₹1 lakh.
Increase in TDS Limit on Rent:
The annual threshold for TDS on rent has been increased from ₹2.4 lakh to ₹6 lakh.
Revised Threshold for Remittances:
The threshold to collect tax at source on remittances under RBI’s Liberalized Remittance Scheme has been raised from ₹7 lakh to ₹10 lakh.

These reforms mark a significant step towards easing the tax burden on the middle class, promoting savings, investment, and boosting overall consumption. The revised slabs and rebates are expected to benefit a large segment of taxpayers while fostering economic growth.

Union Budget 2025: TDS/TCS thresholds revised, limit for senior citizens doubled to ₹1 lakh

News Desk — Sat, 01 Feb 2025 06:38:40 +0000

In the Union Budget 2025-26, the government announced key revisions to the Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) structure aimed at simplifying tax compliance. The number of rates and thresholds above which TDS is deducted will be reduced to streamline the process.

For senior citizens, the limit for tax deduction on interest income has been doubled from ₹50,000 to ₹1 lakh, providing significant relief. Additionally, the annual TDS limit on rent payments has been increased from ₹2.4 lakh to ₹6 lakh, easing the tax burden on tenants and landlords alike.

The threshold for TCS on remittances under the RBI’s Liberalized Remittance Scheme (LRS) has been raised from ₹7 lakh to ₹10 lakh, offering more flexibility for individuals sending money abroad.

In a move to simplify goods transactions, the budget specifies that only TDS, and not TCS, will be levied on goods sales, reducing complexities for businesses involved in the sale of goods.

Union Budget 2025: Customs tariff structure for industrial goods rationalized with removal of seven tariff rates

News Desk — Sat, 01 Feb 2025 06:32:26 +0000

In the Union Budget 2025-26, the government has announced the removal of seven tariff rates for industrial goods, building on the seven tariff rate eliminations from the 2023-24 Budget. This move aims to streamline the customs tariff structure, reducing complexities for businesses engaged in industrial goods imports and exports.

To maintain the overall duty incidence, the government will apply appropriate cess on select items. However, the broader objective is to ensure that effective duty rates remain stable across most goods, minimizing disruptions in industrial supply chains.

Additionally, the budget provides relief through the exemption of Social Welfare Surcharge on 82 tariff lines that are already subject to a cess. This measure is expected to ease costs for industries and promote greater efficiency in the import of critical industrial goods.

Union Budget 2025: Importing lifesaving drugs and medicines to become cheaper with customs duty exemptions

News Desk — Sat, 01 Feb 2025 06:28:55 +0000

In the Union Budget 2025-26, the government has announced significant customs duty exemptions to make lifesaving medicines more affordable. A total of 36 lifesaving drugs and medicines will now be fully exempted from Basic Customs Duty, reducing costs for patients reliant on critical treatments.

Additionally, 6 more lifesaving medicines will attract a concessional customs duty of 5%, making essential therapies more accessible. To further support healthcare affordability, 37 more medicines and 13 new patient assistance programs will also be fully exempted from Basic Customs Duty, specifically when these medicines are supplied free of cost to patients.

These measures are aimed at easing the financial burden on patients and improving access to essential healthcare treatments.

Union Budget 2025: Government unveils new export promotion mission and BharatTradeNet platform to strengthen global trade integration

News Desk — Sat, 01 Feb 2025 06:26:50 +0000

In the Union Budget 2025-26, the government announced the establishment of an Export Promotion Mission aimed at enhancing export credit, cross-border factoring support, and assisting MSMEs in tackling non-tariff barriers in overseas markets. This initiative seeks to improve India’s global trade competitiveness and provide robust support for small businesses expanding internationally.

To further streamline international trade, the government will launch ‘BharatTradeNet’ (BTN), a digital public infrastructure designed as a unified platform for trade documentation and financing solutions. This will simplify trade processes and improve ease of doing business for exporters.

Additionally, the budget proposes the formation of facilitation groups for select products and supply chains to bolster domestic manufacturing capacities and strengthen India’s role in global supply chains. The government will also support the domestic electronic equipment industry to leverage Industry 4.0 opportunities, particularly benefiting the youth.

A national framework will be formulated to guide states in promoting Global Capability Centres in emerging tier-2 cities, further integrating India into global supply chains and enhancing economic growth.

Union Budget 2025: Top 50 tourist sites to be developed, MUDRA loans for homestays announced

News Desk — Sat, 01 Feb 2025 06:23:31 +0000

In a bid to drive employment-led growth through tourism, the Union Budget 2025-26 has outlined several initiatives to enhance the sector’s contribution to the economy. The government will focus on developing the top 50 tourist destinations in the country in collaboration with state governments, using a challenge mode to encourage innovation and competitiveness.

To ensure efficient destination management, performance-linked incentives will be provided to states. Additionally, MUDRA loans will be extended to support homestay operators, boosting local entrepreneurship in the tourism sector.

The budget also places a special focus on destinations related to the life and times of Lord Buddha, highlighting India’s cultural and historical heritage. Furthermore, medical tourism and the ‘Heal in India’ initiative will be promoted through partnerships with the private sector, aiming to position India as a global destination for healthcare and wellness.

Union Budget 2025: modified UDAN scheme, Rs 25,000 crore maritime fund, and Jal Jeevan Mission extension announced

News Desk — Sat, 01 Feb 2025 06:21:45 +0000

The Union Budget 2025-26 has announced several key initiatives to drive growth across multiple sectors of the economy. A modified UDAN scheme will be launched to boost regional air connectivity by adding 120 new destinations and aiming to carry 4 crore passengers over the next decade.

The government will establish SWAMIH Fund 2 (Special Window for Affordable and Mid-Income Housing) as a ₹15,000 crore blended finance facility, targeting the completion of one lakh additional dwelling units.

To support the maritime industry, a Maritime Development Fund with a ₹25,000 crore corpus will be set up, focusing on long-term financing for port and shipping infrastructure.

The Jal Jeevan Mission has been extended until 2028, aiming for 100% potable tap water coverage across India.

Additionally, the private sector will be granted access to data and maps from the PM Gati Shakti Portal to promote public-private partnerships (PPPs) and support sectoral growth initiatives.

Union Budget 2025: BIG BREAKING – New income tax bill to be introduced next week

News Desk — Sat, 01 Feb 2025 06:17:11 +0000

In a major announcement during the Union Budget 2025-26, the government revealed that a new income tax bill will be introduced next week. This upcoming legislation is expected to bring significant changes to the current tax structure, potentially impacting both individual taxpayers and businesses. Further details regarding the proposed reforms are awaited and are likely to be disclosed when the bill is tabled in Parliament.

Story under development..

Union Budget 2025: ₹500 crore AI education centre, 50,000 Atal Labs, and 75,000 new medical seats announced

News Desk — Sat, 01 Feb 2025 06:15:27 +0000

The Union Budget 2025-26 has laid out a comprehensive plan to enhance the nation’s public education, healthcare, and skilling infrastructure, focusing on improving access to quality education, healthcare facilities, and employment opportunities across the country.

In the realm of public education and health, the budget proposes the establishment of 50,000 Atal Tinkering Labs in government schools over the next five years. These labs aim to nurture curiosity, innovation, and scientific temper among young minds. To improve digital access, broadband connectivity will be extended to all government secondary schools and primary health centres in rural areas under the BharatNet project. Furthermore, the Bhartiya Bhasha Pustak Scheme will be implemented to provide digital Indian language books for schools and higher education institutions. In the healthcare sector, the budget outlines plans to set up Day Care Cancer Centres in all district hospitals over the next three years, with 200 centres slated to open in FY 2025-26.

For skilling and higher education, the budget announces the creation of five National Centres of Excellence for Skilling, designed to equip youth with global expertise and skills required for “Make for India, Make for the World” manufacturing. Additional infrastructure will be developed in five IITs established after 2014, enabling education for 6,500 more students. To advance technology-driven education, a Centre of Excellence in Artificial Intelligence for Education will be set up with an outlay of ₹500 crore. In the medical field, 10,000 additional seats will be added to medical colleges and hospitals in the upcoming year, with a goal to add 75,000 seats over the next five years.

These initiatives reflect the government’s commitment to fostering innovation, improving healthcare accessibility, and preparing the youth for future employment opportunities, contributing to the country’s long-term development goals.

Union Budget 2025: Rural Prosperity & Resilience Program announced to tackle underemployment and reduce migration

News Desk — Sat, 01 Feb 2025 06:13:32 +0000

The Union Budget 2025-26 introduced the Rural Prosperity & Resilience Program, aimed at addressing underemployment in agriculture and reducing the need for migration from rural areas. Announced by Union Finance Minister Nirmala Sitharaman, the program will focus on creating sustainable opportunities in rural regions through a combination of skilling, investment, and technology integration.

A key objective of the program is to generate ample employment opportunities in rural areas, ensuring that migration to urban centers is no longer a necessity for economic survival. The initiative will specifically target rural women, young farmers, rural youth, marginal and small farmers, and landless families, aiming to enhance their participation in the agricultural and rural economy.

By fostering skills development and encouraging the adoption of modern agricultural technologies, the program seeks to improve productivity and income levels in rural communities. The initiative is also expected to contribute to building resilience in rural livelihoods, making rural areas more self-sufficient and economically vibrant.

Union Budget 2025: ₹1.5 lakh crore interest-free loans and ₹10 lakh crore asset monetization plan announced for infrastructure development

News Desk — Sat, 01 Feb 2025 06:11:57 +0000

The Union Budget 2025-26 has placed a significant emphasis on infrastructure investment with several key initiatives aimed at boosting capital expenditure and supporting urban development.

Each infrastructure-related ministry will be required to develop a three-year pipeline of Public-Private Partnership (PPP) infrastructure projects to streamline planning and execution. A substantial ₹1.5 lakh crore outlay has been announced for 50-year interest-free loans to states to encourage capital expenditure and incentivize reform implementation.

Additionally, a Second Asset Monetization Plan for 2025-30 will be introduced, aiming to reinvest ₹10 lakh crore of capital from monetized assets into new infrastructure projects. This will help generate resources for future projects while improving asset utilization.

To further urban development, an Urban Challenge Fund of ₹1 lakh crore will be established to support proposals related to ‘Cities as Growth Hubs,’ ‘Creative Redevelopment of Cities,’ and ‘Water and Sanitation.’ This fund will focus on enhancing city infrastructure and addressing critical urban challenges through innovative approaches.

These initiatives reflect the government’s continued focus on expanding infrastructure, supporting urban growth, and driving long-term economic development.

Union Budget 2025: Energy sector reforms announced with focus on nuclear power and electricity distribution

News Desk — Sat, 01 Feb 2025 06:10:26 +0000

The Union Budget 2025-26 has outlined major energy sector reforms, with a focus on expanding nuclear energy capacity and improving electricity distribution and transmission infrastructure across the country.

Key legislative changes will include amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act to support the goal of developing at least 100 GW of nuclear energy by 2047. A Nuclear Energy Mission will be established for the research and development of Small Modular Reactors (SMRs), with a proposed outlay of ₹20,000 crore. As part of this initiative, at least five indigenously developed SMRs are expected to become operational by 2033.

In addition to nuclear energy, the government will introduce incentives for electricity distribution reforms and the augmentation of intra-state transmission capacity by state governments. To encourage the adoption of these reforms, the budget permits additional borrowing of 0.5% of GSDP by states, contingent upon their progress in implementing the proposed changes.

These reforms are aimed at enhancing the efficiency, reliability, and sustainability of India’s energy sector while reducing dependence on non-renewable sources.

Union Budget 2025: Prime Minister Dhan Dhanya Krishi Yojana to target 100 low-productivity districts, benefiting 1.7 crore farmers

News Desk — Sat, 01 Feb 2025 06:06:07 +0000

The Union Budget 2025-26 has introduced the Prime Minister Dhan Dhanya Krishi Yojana, aimed at transforming agriculture in 100 districts identified for their low productivity, moderate crop intensity, and below-average credit parameters. Announced by Union Finance Minister Nirmala Sitharaman, the program seeks to bring together existing agricultural schemes to enhance farming outcomes across these regions.

The initiative will focus on enhancing agricultural productivity, encouraging crop diversification, and promoting sustainable agricultural practices. It will also aim to improve post-harvest storage facilities and strengthen irrigation infrastructure to support better crop yields. Additionally, the scheme will facilitate access to both long-term and short-term credit, addressing financial barriers faced by farmers in these districts.

The Prime Minister Dhan Dhanya Krishi Yojana is expected to benefit around 1.7 crore farmers, offering them the necessary support to improve their agricultural output and financial stability. By addressing key challenges in productivity and infrastructure, the program aims to foster more resilient and sustainable farming practices across the targeted regions.

Union Budget 2025: Focus product scheme for footwear and leather sectors to be launched, employment for 22 lakh people expected

News Desk — Sat, 01 Feb 2025 06:03:39 +0000

The Union Budget 2025-26 announced the introduction of a Focus Product Scheme aimed at enhancing the productivity, quality, and competitiveness of India’s footwear and leather sectors. The scheme will support the development of design capacity, component manufacturing, and machinery required for the production of non-leather quality footwear. It will also extend assistance to leather footwear and related products. This initiative is projected to facilitate employment for 22 lakh people, generate a turnover of ₹4 lakh crore, and achieve exports exceeding ₹1.1 lakh crore. The scheme is expected to strengthen the footwear and leather industries, positioning them to better compete in domestic and international markets.

Union Budget 2025: Scheme to make India a global toys hub announced to promote ‘Made in India’ brand

News Desk — Sat, 01 Feb 2025 06:03:35 +0000

The Union Budget 2025-26 introduced a new scheme focused on establishing India as a global hub for toy manufacturing, with the goal of promoting high-quality toys that represent the ‘Made in India’ brand. The scheme will focus on the development of clusters, enhancement of skills, and the creation of a robust manufacturing ecosystem to produce unique, innovative, and sustainable toys. By supporting local manufacturing and fostering innovation, the initiative aims to position India as a key player in the global toy market, enhancing both domestic production capabilities and export potential.

Union Budget 2025: ₹10,000 crore Fund of Funds for startups, ₹2 crore term loans for women and SC/ST entrepreneurs

News Desk — Sat, 01 Feb 2025 05:58:03 +0000

The Union Budget 2025-26 has announced measures to support entrepreneurship with the introduction of a new Fund of Funds for startups and a targeted financing scheme for women and SC/ST first-time entrepreneurs.

Key Announcements:

New Fund of Funds for Startups:
- A fresh contribution of ₹10,000 crore has been announced, in addition to the existing ₹10,000 crore government contribution.
- This fund will support Alternate Investment Funds (AIFs), which have already received commitments exceeding ₹91,000 crore.
New Scheme for 5 Lakh Women, SC, and ST Entrepreneurs:
- The scheme will provide term loans up to ₹2 crore over the next five years.
- It will also offer online capacity-building programs to improve entrepreneurial and managerial skills.

These initiatives aim to enhance access to capital for startups and provide financial support and training to first-time entrepreneurs from underrepresented groups, helping them expand their businesses and improve financial sustainability.

Union Budget 2025: MSME credit guarantee cover raised to ₹10 crore, ₹1.5 lakh crore additional credit announced over 5 years

News Desk — Sat, 01 Feb 2025 05:56:07 +0000

The Union Budget 2025-26 has introduced measures to simplify loan access for Micro, Small, and Medium Enterprises (MSMEs), focusing on enhancing credit guarantees and offering customized credit solutions.

Key Measures Announced:

Credit Guarantee Cover for MSMEs Enhanced:
- For Micro and Small Enterprises, the credit guarantee cover has been increased from ₹5 crore to ₹10 crore. An additional ₹1.5 lakh crore in credit will be made available over the next five years.
- For Startups, the cover has been raised from ₹10 crore to ₹20 crore, with the guarantee fee reduced to 1% for loans in 27 focus sectors.
Customized Credit Cards for Micro Enterprises:
- Micro Enterprises registered on the Udyam Portal will have access to customized credit cards with a ₹5 lakh limit.
- 10 lakh credit cards are set to be issued in the first year.

These measures are aimed at providing easier and more flexible financing options for MSMEs, supporting their growth and operational needs. The government’s focus remains on strengthening the MSME ecosystem through improved credit availability and financial accessibility.

Union Budget 2025: National Institute of Food Technology, Entrepreneurship and Management to be established in Bihar to boost food processing in Eastern India

News Desk — Sat, 01 Feb 2025 05:54:18 +0000

The Union Budget 2025-26 has announced the establishment of the National Institute of Food Technology, Entrepreneurship, and Management in Bihar. The institute is aimed at supporting food processing activities in the Eastern region.

Key Details:

The institute is expected to contribute to raising farmers’ income through value addition to their produce.
It will also focus on providing skilling, entrepreneurship, and employment opportunities for youth in the region.

This initiative is part of the government’s focus on developing the food processing sector and enhancing economic activities in the Eastern part of the country.

Union Budget 2025: MSME classification criteria revised with increased investment and turnover limits

News Desk — Sat, 01 Feb 2025 05:51:49 +0000

In a significant move aimed at boosting the Micro, Small, and Medium Enterprises (MSMEs) sector, the Union Budget 2025-26 has introduced new classification criteria, revising both investment and turnover limits to promote growth and job creation.

The investment limit for MSME classification has been increased 2.5 times, while the turnover limits have been doubled. This revision is expected to give MSMEs the confidence to expand and generate more employment opportunities for the youth.

Revised MSME Classification Criteria:

Category	Investment (₹ Crore)	Turnover (₹ Crore)
Micro Enterprises	Increased from 1 to 2.5	Increased from 5 to 10
Small Enterprises	Increased from 10 to 25	Increased from 50 to 100
Medium Enterprises	Increased from 50 to 125	Increased from 250 to 500

Impact on MSMEs:

This move is anticipated to enhance the growth trajectory of MSMEs, enabling them to scale operations and compete more effectively in both domestic and global markets. The revised limits will also help businesses retain their MSME status as they grow, allowing continued access to government schemes and incentives.

India has over 1 crore registered MSMEs, employing 7.5 crore people.

MSMEs contribute 45% to India’s exports and 36% to the manufacturing sector.

The revised criteria reflect the government’s focus on strengthening the MSME sector, which is the backbone of the Indian economy, playing a pivotal role in employment generation, export growth, and industrial development.

Union Budget 2025: Opposition MPs stage walkout as Finance Minister Nirmala Sitharaman delivers budget speech amid protests

News Desk — Sat, 01 Feb 2025 05:49:55 +0000

The presentation of the Union Budget 2025 witnessed high drama in the Lok Sabha as opposition MPs staged a walkout during Finance Minister Nirmala Sitharaman’s budget speech. The session began amid protests by Samajwadi Party MPs, including party chief Akhilesh Yadav, who raised slogans and disrupted proceedings.

Despite the ruckus, Sitharaman proceeded with her budgetary address, but escalating tensions led to MPs from various opposition parties exiting the House in protest. The opposition’s walkout highlights growing political tensions ahead of key fiscal announcements, with parties expressing dissatisfaction over the government’s economic policies and parliamentary conduct.

As the budget session progresses, focus will remain on how the government addresses opposition concerns and whether key economic reforms and policy measures will face further political pushback.

#WATCH | #UnionBudget2025 | MPs from the opposition parties walk out of Lok Sabha as Finance Minister Nirmala Sitharaman reads her budgetary speech

She began her budgetary speech amid protests by Samajwadi Party MPs including party chief Akhilesh Yadav

(Source – Sansad TV) pic.twitter.com/O0qcgw3BS4

— ANI (@ANI) February 1, 2025