Industry Bodies Applaud Union Budget 2025’s Focus On Economic Growth & Reforms

Industry leaders expressed strong support for the measures announced in the Union Budget 2025, praising the government’s efforts to address pressing economic challenges while aiming for long-term growth.

A live budget viewing session hosted by the FICCI UP State Council saw prominent figures such as Manoj Gupta, the Council chair and CMD of MKU Ltd, Vishwas Swaroop, the co-chair, and Prateek Hira, chairman of the FICCI UP Tourism Sub Committee, among others, discussing the key proposals.

“The Union government has made a strong effort to address the immediate challenges being faced by the economy, particularly on the consumption front, while keeping an eye on the long-term target of pursuing the vision of ‘Viksit Bharat’,” Gupta stated.

FICCI commended Finance Minister Nirmala Sitharaman for presenting a well-rounded and forward-thinking budget, which emphasizes reforms, fiscal stimulus, and targeted support for sectors like agriculture, MSMEs, youth, and women.

“The Budget proposals will re-energise the economy by lifting the sentiments of the middle class and nudging the private sector to advance its investment plans as demand improves across sectors,” Gupta added.

Mayur Tandon, vice-chairman of the CII and IIA noted, “The Budget boosts MSMEs with greater financial flexibility while empowering entrepreneurs to drive economic progress. The Infrastructure Development fund will likely enhance real estate through better connectivity and urban growth, while tax relief for the middle class may increase disposable incomes and stimulate housing demand.”

Mukesh Singh from the Indo-American Chamber of Commerce acknowledged the four main pillars of the Budget—agriculture, MSMEs, investment, and exports—stating that these measures would be pivotal in achieving the goal of a ‘Viksit Bharat’ by 2047.

Industry Economic Support For MSMEs & Medium Enterprises

Industry bodies also lauded several specific initiatives, such as the enhancement of credit guarantee cover from Rs 10 crore to Rs 20 crore, along with a reduction in the guarantee fee to 1% for loans in 27 key sectors.

“The government’s decision to increase the turnover limit for medium enterprises in MSMEs from ₹250 crore to ₹500 crore is commendable. A turnover limit of up to ₹500 crore provides significant relief to medium enterprises. Additionally, raising the investment limit for medium industries from ₹50 crore to ₹125 crore will enable greater investment, aiding industrial expansion and increased production. Traders had been demanding this change for some time. This decision will encourage businesses to raise more capital and expand their operations, which will be crucial for the country’s economy and will play a significant role in achieving the prime minister’s vision of a $5 trillion economy,” remarked Yawar Ali Shah, the co-founder & CEO of AMA Herbal and the vice chairman of Indian Industries Association (IIA).

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