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.