Industry giants, CEOs and economists of the country have hailed the Union Budget 2025-26 for its multidimensional focus on the economy of the country as well as targeting a stable growth in the coming years.
MD & CEO, National Stock Exchange, Ashish Kumar Chauhan, said, “The budget builds on India’s growth momentum with strong development measures, continued fiscal prudence, increased capex and reduced tax burden. Increase in disposable income enhances consumption growth and provides further wealth creation opportunities to Indian households through the markets. More and more people will join the pool of current 11 crore unique investors and will become stakeholders and beneficiaries of India’s growth journey thereby supporting a virtuous cycle of economic growth, capital formation and job creation.”
“Through a slew of social welfare measures on employment, education, healthcare, women empowerment and with special support to gig workers, farmers, MSMEs and startups - the budget focuses on India’s most important resource - its people,” he added.
ESL Steel CEO and Whole-time Director Ashish Gupta has welcomed the Union Budget 2025-26, emphasizing its focus on inclusive growth. He noted that raising the income tax exemption limit to Rs 12 lakh under the new tax regime will provide relief to the middle class and boost consumption.
He highlighted the National Manufacturing Mission as a major step toward strengthening the ‘Make in India’ initiative, driving industrial growth, job creation, and positioning India as a global manufacturing hub. He also praised the government's commitment to clean-tech manufacturing, aligning with India's Net Zero goals.
Gupta further welcomed the extension of the Jal Jeevan Mission, reinforcing efforts to improve water accessibility nationwide.
Meanwhile, economists have also hailed the Budget calling it a development oriented budget. “The middle class has been neglected since a long time. However everyone will be benefitted from this budget, whether from rich, middle or lower class. The budget envisages a long term priority along with the path of sustainable development. It covers almost all sectors of the economy. One of the main features of this budget is more fund has been allotted to the defense sector. The fund has been increased by 9.55 percent over financial year2024-25.It is quite essential for the country considering the World Scinerio of the day. It's important to mention that the budget is made to attain self,” said Professor (Dr) Kedar Nath Dash, who retired as HoD of the Economics Department of Ranchi University.
“Provisions are taken into consideration for the betterment of rural as well as urban lives. Attempts are taken to raise the level of income of the people and so savings as well as consumption. Simple logic is that more income leads to more consumption, more demand, more investments and more generation of employment and income. Betterment of infrastructure is also given priority in the budget. Better infrastructure means better development. Further, special attention to MSMEs and manufacturing, particularly labour-intensive manufacturing has been given in the budget. Another important aspect of the budget is Fiscal Deficit is estimated at 4.9 percent of GDP. The Government aims to reach 4.5 per cent Fiscal Deficit in 2025-26,” he added.
“Considering every aspect of the budget, it may be called a Development-Oriented Budget. However, no doubt coming elections are also kept in mind in preparation of the budget as the opposition leaders feel,” he said.
