Union Budget 2025 Reactions: This is how industry leaders reacted to the Union Budget 2025

New Delhi [India], February 05: The Union Budget 2025 has introduced tax relief measures aimed at boosting consumer spending power. Additionally, measures to support domestic manufacturing will further support growth. Education, FMCG, Retail, Defence and Semiconductor industry reacted positively and hailed these moves as a significant step toward realizing the vision of Atmanirbhar Bharat (Self-Reliant India).

Dr. Sanjay Salunkhe, CMD, Jaro Education (Education Sector) “The Union budget has prioritised education and upskilling, aimed at reducing the skill gap in the country. The government has made increasing higher education seats a top priority in this budget. It is encouraging that a new centre of excellence for AI in education has been announced, and that IITs are expanding their capacity.

Collaborations between industry and academia must be the main focus of India's skilling plan. The government's focus on industry-aligned skills will be essential to creating a workforce that is competitive and prepared for the future. Through partnerships with leading universities, these centres will increase employability and promote India as a global centre for education.” Pramesh Goyal, Managing Director, Goyal Salt (FMCG Sector) “The Centre’s move to revise the tax slabs is expected to stimulate middle class spending, boosting disposable income and fuelling socio-economic growth. By promoting private consumption, the budget announcements will support the growth of the rural and urban economies. The budget creates substantial development prospects for the FMCG sector by laying a solid foundation for an economy that is more driven by consumption.” Shaju Thomas, Chairman & MD, Popees Baby Care Products Pvt. Ltd. (Retail Sector) "This budget is all about consumption theme. Government of India’s increase in tax exemption limit to Rs. 12 lakhs would put more money in the hands of people and which should increase the pace of growth. More than one crore people are benefiting from this bold step of Government of India which is much awaited by middle class of this country." Rajendra K Chodankar, Chairman, RRP S4E Innovations Ltd (Defence Sector) "The 10% increase in the budget for Defence to Rs 6.81 lakh crore is indeed a major boost by the Government of India. The visionary thought process of the Government is well aligned on acquiring new defence systems in the face of security challenges. Government’s greater focus on purchasing more weapons, military hardware, aircrafts and warships and allocating lion share of Rs. 1.8 lakh crore in the total defence budget is very encouraging for MSME and corporates." Rajendra K Chodankar, Chairman & CEO, RRP Electronics Ltd. (Semiconductor Sector) "The Budget has proposed a significant increase in allocation to MeitY by 48% to Rs. 26,000 crore which includes subsidies for semiconductor also. The welcome move by the Government to promote compound semiconductors is also very heartening and will indeed take India beyond horizons. We are very confident that Government of India will announce Semiconductor Mission 2.0, which will boost the sector and put India on World map. I am very confident that in the changing dynamics of the World, Indian Semiconductor players like us and the others are going to play a major role and the unstinted support by Government of India and State of Maharashtra is very pivotal in the short to long run." (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI PWR PWR

Source: PTI