Bhopal (Madhya Pradesh): The Union Budget for 2025, presented in the Lok Sabha on Saturday, has been met with widespread appreciation across various sectors, from trade and industries to farmers and employee unions. The budget’s bold reforms, aimed at stimulating industrial growth, improving infrastructure, and enhancing the ease of doing business, have garnered significant praise.
One of the most well-received provisions was the announcement of tax exemption for income up to Rs 12 lakh. This move was welcomed by employee unions, as it directly benefits the middle class by increasing disposable income and reducing financial burdens.
Additionally, the government’s decision to double the allocation for startups from Rs 10,000 crore to Rs 20,000 crore has been lauded by traders and industry leaders. This allocation is expected to boost entrepreneurial activity, offering greater financial support for new businesses.
The budget also saw positive reactions from the trade community for its focus on expanding air-connectivity, with plans to increase connectivity to 120 destinations. This is seen as a key move to enhance business opportunities and regional economic growth.
Bold Budget: CII
“Union Budget 2025 introduces bold reforms that will significantly boost industrial growth, infrastructure, and ease of doing business. The removal of seven additional tariff rates, leaving only eight key slabs, will simplify trade policies, reduce costs for manufacturers, and enhance India’s export competitiveness. The Rs 1.5 lakh crore interest-free loan scheme for state governments will accelerate infrastructure projects, improving connectivity and benefiting industries. Income tax relief will result in more disposable income and more purchase power for middle class”
-Ashish Vaishya Chairman of the MP State Council, CII
The Budget sets a new direction for development of infrastructure, agriculture and industries. The Rs 100 lakh crore infrastructure pipeline will strengthen connectivity, promote smart cities and boost green energy initiatives. Concrete steps have been taken to enhance farmers’ income and reform agricultural credit schemes. Significant investments have been made to encourage the industrial sector. It is a significant step towards achieving the vision of Atmanirbhar Bharat.
-Dinesh Patidar, FICCI MP Chapter Chairman
A game-changer, says BCCI
“The introduction of a new Fund of Funds with an expanded scope and a fresh contribution of Rs 10,000 crore is a welcome move. The increase in the fund for start-ups from Rs 10,000 crore to Rs 20,000 crore is a significant step towards supporting entrepreneurship. Moreover, the increase in credit limits will provide much-needed financial support. The scheme for first-time entrepreneurs, including women, SC/ST individuals, and others, offering term loans of up to Rs 2 crore over the next five years, is a game-changer. Furthermore, the expansion of air connectivity to 120 destinations will undoubtedly boost trade and business.”
-Ajay Devnani BCCI spokesman
Boost for mobility, growth: CREDAI
“The announcement of an Urban Challenge Fund of Rs 1 lakh crore to implement proposals for ‘Cities as Growth Hubs’, ‘Creative Redevelopment of Cities’, and ‘Water and Sanitation’ is a promising step forward. The allocation of Rs 10,000 crore for the fiscal year 2025-26 will undoubtedly support the development of urban infrastructure. Additionally, the UDAN Regional Connectivity Scheme, aimed at enhancing regional connectivity by adding 120 new destinations and catering to 4 crore passengers over the next 10 years, will significantly boost mobility and support economic growth”
-Manoj Meek State President of CREDAI
A step in right direction: FMPCCI
“The Union Budget 2025 will significantly boost exports and strengthen Bharat Trade Net, Global Capacity Centres, and the warehousing sectors. The extension of the MSME purview to include industries with a turnover of Rs 500 crore is a welcome move. Additionally, around 36 drugs have been made tax-free, which will benefit the healthcare sector. The increase in the startup fund allocation from Rs 10,000 crore to Rs 20,000 crore will encourage entrepreneurship. Moreover, the exemption of export duty for critical minerals is a step in the right direction to enhance India’s competitiveness in the global market”
-Deepak Sharma State President of FMPCCI
Good for all, says Udyog Vyapar Mandal
“The government has made significant moves to support various sectors. Around 36 essential drugs, including cancer medicines, have been made tax-free. The fund allocation for start-ups has been doubled from Rs 10,000 crore to Rs 20,000 crore. For MSMEs, the loan limit has been increased from Rs 5 crore to Rs 10 crore, which will provide a much-needed boost to the sector. Export duties have been exempted for critical minerals, and taxpayers can now file IT returns for the last four years simultaneously. Additionally, products like TVs, mobiles, leather items, and textiles are expected to become more affordable”
-Anupam Agarwal Secretary of Akhil Bharatiya Udyog Vyapar Mandal
Focus on farm: BKS
“The budget has rightfully acknowledged agriculture as the first engine of development. The Prime Minister Dhan-Dhaanya Krishi Yojana is set to launch the Developing Agri Districts Programme in collaboration with the states. This programme will focus on 100 districts with low productivity, moderate crop intensity, and below-average credit parameters, benefiting 1.7 crore farmers. Additionally, the government will introduce a 6-year ‘Mission for Aatmanirbharta in Pulses,’ focusing on Tur, Urad, and Masoor crops, which will help ensure self-sufficiency in pulses.”
-Kamal Anjana Bharatiya Kisan Sangh (BKS) Representative
Boost for employees: Karamchari Manch
“The new tax regime introduces significant relief for the middle class. Individuals earning up to Rs 12 lakh annually will no longer have to pay income tax. In the previous tax structure, a 30% tax was levied on income above Rs 15 lakh, but now this rate applies to income above Rs 24 lakh. The new tax slabs are structured as follows: nil tax for income up to Rs 4 lakh; 5% for income between Rs 4 lakh and Rs 8 lakh; 10% for income between Rs 8 lakh and Rs 12 lakh; 15% for income between Rs 12 lakh and Rs 16 lakh; 20% for income between Rs 16 lakh and Rs 20 lakh; 25% for income between Rs 20 lakh and Rs 24 lakh; and 30% for income above Rs 24 lakh annually.”
-Ashok Pandey State President of MP Karamchari Manch
Affordable EVs, says FADA
“Electric vehicles (EVs) will become more affordable, which is a positive development for rural auto sales, particularly tractors and two-wheelers. The removal of TCS (Tax Collected at Source) on all goods purchased is another welcome change. Additionally, the new tax slab, which ensures that individuals earning up to Rs 12 lakh annually won’t have to pay income tax, will benefit the automobile industry. Prime Minister Dhan-Dhaanya Krishi Yojana and the Developing Agri Districts Programme will also help farmers, ultimately benefiting the auto sector as well.”
-Ashish Pandey Chairperson of FADA
MSMEs to benefit: CAIT
“The budget will provide a significant boost to start-ups, tourism, and the MSME sector. The extension of the loan limit for MSMEs from Rs 5 crore to Rs 10 crore will greatly support small businesses. The Prime Minister Dhan-Dhaanya Krishi Yojana and the Developing Agri Districts Programme will strengthen the rural economy and benefit farmers. Additionally, 36 essential drugs, including cancer medications, have been made tax-free. There are also plans to add 10,000 seats to medical colleges and hospitals next year, with a total of 75,000 additional seats in the next five years”
-Dharmendra Sharma President of CAIT
