Quote on Union Budget 2025 Reaction by Mr. BK Goenka, Chairman, Welspun World
Below the Quote on Union Budget 2025 Reaction by Mr. BK Goenka, Chairman, Welspun World
Quote 1
This is an all-round budget that prioritizes boosting the rural economy, streamlining processes, enhancing ease of doing business, and fostering a competitive spirit among states, while also extending crucial support to the middle class.
Despite the revenue foregone, the government's steadfast commitment to fiscal consolidation, with the deficit at 4.4% of GDP, is both commendable and vital for our macroeconomic stability.
Quote 2
The budget strikes a fine balance between supporting growth and maintaining fiscal prudence. The reduction in the fiscal deficit and market borrowings enhances India's long-term debt sustainability while also helping lower borrowing costs.
A notable shift in government expenditure towards capital investment over subsidies signals a strong commitment to productive growth. The revamping of income tax slabs, along with targeted schemes for rural areas and agriculture, will provide broad-based support to consumption.
The budget gives a demand boost in the short run by way of revamping the income tax slabs and at the same time sets India on a stronger medium term growth trajectory by addressing critical issues to further enhance ease of doing business in the country – be it with regards to import and use of capital goods, streamlining duties and tariffs, support to MSMEs and startups, focus on skill development, polices announced for the farm sector, center of excellence in AI for education, and promoting competition among states.
The support to nuclear power sector is a critical step in ensuring India’s energy security and meeting our climate commitments. Broadband connectivity to all government secondary schools and setting up of 50,000 Atal tinkering labs will help create a strong pipeline of future ready nation builders.
With a strong focus on Garib, Youth, Annadata, and Nari, coupled with transformative reforms, this budget is a significant step towards realizing the vision of Viksit Bharat and securing India's long-term economic resilience.
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