The upcoming Union Budget for the fiscal year 2025-26 is anticipated with great expectations across various industries in India. Prof Vishwanathan Iyer, Professor of Finance at Great Lakes Institute of Management in Chennai, highlights the importance of sustaining economic momentum with India’s projected GDP growth of 6.3% to 6.8%. Emphasizing the need for investments in manufacturing, infrastructure, and digital transformation to boost productivity and create more jobs.
Dr. Vikas Prakash, Director – PGPM & Professor at Great Lakes Institute of Management in Gurgaon, commends India’s GDP growth rate band and stresses the importance of deregulation to boost private sector investments. He highlights the need for reforms to incentivize both MSMEs and large-scale companies to promote growth and competitiveness.
Dr. Jones, Principal and Head of the Institute of Management at Great Lakes Institute of Management in Gurgaon, expresses concerns about the stagnant budget allocations for higher education, impacting infrastructure development and access to education. He calls for increased funding for digital learning, skills development, and R&D in the upcoming budget.
Arti Dawar, Deputy CEO of Shiv Nadar School, emphasizes the need for increased collaboration between the education sector and industry to improve access to education and achieve the Gross Enrolment Ratio target. She also calls for faster patent processes to encourage innovation in educational institutions.
Aditi Nayar, Chief Economist at ICRA Limited, provides insights on the core sector growth, highlighting the need for moderate growth in the Index of Industrial Production. She anticipates a growth rate of 3-5% in the upcoming period.
Sourabh Deorah, CEO & Co-Founder of AdvantageClub.ai, calls for meaningful tax relief for salaried employees in the upcoming budget to address financial stresses and enhance job satisfaction. He suggests expanding tax benefits to cover wellness services and therapies under the new tax regime.
In the manufacturing industry, Abhishek Dua, CEO & Co-Founder of Showroom B2B, and Kashika Malhotra, Head of Business Development at Brandman Retail, anticipate incentives to boost local manufacturing, reduce import dependency, and enhance consumer demand through GST rate reductions.
Sourabh Deorah also emphasizes the need for investments in AI research, digital infrastructure, and emerging technologies to position India as a global tech challenger. He calls for simplified taxes and targeted incentives for startups to drive innovation and scalability in the AI sector.
Spokespersons from the pharmaceutical, healthcare, real estate, ESG, and insurance industries also provide insights and expectations for the upcoming budget, highlighting the need for policy interventions to drive growth, sustainability, and innovation in their respective sectors. Overall, there is optimism and anticipation for a budget that will support economic growth and development across various industries in India.
