Union Budget 2025: Expectations and Insights from Industry Leaders
On the Budget Day of NDA 3.0, it has been reported that BSE and NSE will be operating on that particular day, ensuring there is live trade on that date when the budget is announced. With this step, the market is going to take immediate reactions to what the Union Budget 2025 has proposed policy changes. And this adds up to instant economic analysis.
One of the key areas of focus in the Union Budget 2025 is the transformative potential of the education sector. Dinesh Gupta, Founder & CEO of Vikalp Online School, said that this budget will set the stage for transformative growth in education, so that students from all over the world can join Indian institutes for education. He added that India has already produced world-class talent, but there is a lack of institutions that can match the quality of global counterparts. Gupta had suggested that the digital revolution, which has wiped out geographical barriers, can be used to create hundreds of world-class digital schools and universities. He is still hopeful that the Budget will help his vision for shaping the future of learning in India.
The export sector is also closely watching the Budget as exporters highlight their wishlists. Ashwani Kumar, head of the Federation of Indian Export Organisations (FIEO), believes that India could seize a significant opportunity to boost exports by $25 billion, particularly in sectors such as electronics, automobiles, chemicals, and textiles. This opportunity comes in the wake of escalating trade tensions, with China in the spotlight due to U.S. tariff threats. The government should think about a marketing scheme exclusively on export to the US, Kumar advised. Further, FIEO has asked the government to minimize dependence on foreign shipping lines by increasing further investments in India's own shipping infrastructures or through private sector shipping lines.
Confederation of Indian Industry (CII) has advised that the government continue its focus on infrastructure spending, which has a multiplier effect in terms of triggering other infrastructure projects. CII believes that the maintenance and growth of infrastructure expenditure will be critical for sustaining India's strong economic growth. The lobby group has asked for a 25% increase in the fiscal year 2025-2026 infrastructure budget. Still, despite record infrastructure spending in FY 2024-2025, the target of Rs 11,11,111 crore may not be fully met.
Last but not least, several industry bodies have spelt out their expectations. This led the Confederation of Indian Industry (CII) to stress the need to cut taxes, especially on fuels and income-tax exemptions for individuals in the Rs 2-million bracket. Their demands also encompassed higher compensation by the state-managed schemes on items like the national job guarantee scheme along with cash distribution to farmers in the country. The Federation of Indian Chambers of Commerce and Industry (FICCI) has asked the government to make the tax rules more simple to make the business climate easier, and Laghu Udyog Bharti has asked for relief in capital gains tax on small industries that are investing in bigger units.
With the Union Budget 2025 approaching, all sectors-education, exports, and more-are anxiously waiting to see how the government will answer their calls for growth and development.
