Budget updates: Diya Kumari terms Union Budget as 'game changer,' Gehlot criticises lack of relief

New tax regime updates: Under the new system, taxpayers will not have to pay any income tax on earnings up to Rs 12 lakh per annum

11:27 PM

Budget a significant step in expanding access to essential financial services: Akshat Pathak, Global Lead, MSC

Union Budget 2025 marks a significant step in expanding access to essential financial services, with a strong focus on digital infrastructure. The ₹3,000 crore allocated to the National Digital Financial Mission (NDFM) will support ongoing flagship programs such as the Aspirational Districts Program (ADP) and the Aspirational Blocks Program (ABP), in addition to strengthening the Pradhan Mantri Jan Dhan Yojana (PMJDY). This funding will enable deeper integration of underserved populations into the formal financial ecosystem, particularly in rural and remote areas, said Akshat Pathak, Global Lead - Inclusive Financial Ecosystems, MSC (MicroSave Consulting).

11:09 PM

No relief from unemployment and inflation in Budget, says Rajasthan ex-CM Ashok Gehlot

Rajasthan's former Chief Minister Ashok Gehlot said that the Budget would not provide any relief from unemployment and inflation. "Why does the central government not mention the promise of making the country a 5 trillion-dollar economy by 2022? This budget is not going to provide any relief from the ever-increasing trade deficit, rising dollar value, unemployment, and inflation," Gehlot said on X in reaction to the budget.

10:58 PM

Union minister Annapurna Devi hails Union Budget as boost for women, children

Union Women and Child Development Minister Annapurna Devi on Saturday lauded the budget presented by Finance Minister Nirmala Sitharaman as a significant step towards achieving Prime Minister Narendra Modi's vision of a developed and self-reliant India. Calling it an "inclusive and forward-looking budget," she laid stress on its focus on empowering women, children, youngsters, farmers, and the middle class. Highlighting the government's commitment to tackling malnutrition, Devi welcomed the revision of nutritional standards under the Supplementary Nutrition Programme and Mission Poshan 2.0.

10:57 PM

Union Budget 'failed' to address crucial issues of Telangana: Dy CM Mallu Bhatti Vikramarka

Telangana Deputy Chief Minister Mallu Bhatti Vikramarka on Saturday alleged that the Union Budget 2025-26 "failed" to address the crucial issues faced by the state. The budget reflects a glaring lack of understanding and commitment to states' unique challenges and developmental priorities in general, and that of Telangana in particular, he said in a statement. In the Union Budget, the Centre has "strategically" reduced customs duties on certain goods while simultaneously increasing cesses. Such measures will further shrink the divisible pool of taxes, eating away at states' share in devolution, he alleged.

10:54 PM

Budget a game changer for inclusive growth, says Rajasthan's deputy CM Diya Kumari

The Union Budget 2025-26 garnered varied reactions from leaders in Rajasthan, with Deputy Chief Minister Diya Kumari calling it a "game changer for inclusive growth." Kumari said that the budget will bring about all-round development and pro-actively promote industry and tourism.

10:45 PM

Budget put economy firmly on track to attain Viksit Bharat goal: Shashi Kiran Shetty, Allcargo Group

The budget has put the economy firmly on the track to attain the Viksit Bharat goal. By proposing targeted measures to boost consumption through income tax reform which shows the confidence of the Government of India in its tax management efforts & empathy towards the middle class segment. Also the specific interventions to boost manufacturing, integrated approach to drive ease of doing business, initiatives to encourage employment generation, innovation, clean tech manufacturing and powering new-age growth levers such as AI and deep tech, the budget has set the roadmap for broad-based growth, said Shashi Kiran Shetty, Founder and Chairman, Allcargo Group.

10:22 PM

Budget allocated substantial funds for upscaling higher education: Archana Surana, Founder, ARCH College

In today’s budget, government has allocated a substantial funds for upscaling the higher education system in the country, with a strong focus on Research, Skill-Building, and Upskilling. 50,000 Atal Tinkering Labs will play a crucial role in developing a highly skilled youth at both higher education and school education for emerging Creative Economy popularly known as Orange Economy. Furthermore, AI-related placements and centres have been strategically established to enhance education in India, with a significant budget allocated for this purpose, said Archana Surana, Founder and Director, ARCH College of Design and Business, Jaipur.

9:54 PM

Budget 2025 boldly addresses the need of the hour, says Radhika Gupta, CEO & MD, Edelweiss Asset Management

This budget boldly addresses the need of the hour — putting money into the hands of the middle class through meaningful tax reliefs. This will energize consumption and growth at a critical time for the Indian economy, said Radhika Gupta, CEO & MD, Edelweiss Asset Management.

9:37 PM

Agenda laid out by FM will address several economic reforms, says Rajiv Kumar, Vice Chairman, DS Group

With the Union Budget 2025-2026, the Government has taken strides towards realizing the Viksit Bharat vision by 2047. The agenda laid out by the FM will address and uplift several economic and social reforms in India. The forgoing of ₹1 lakh crore in direct taxes and full tax exemption up to ₹12 lakh income under the new regime is expected to boost consumer spending, benefiting sectors such as FMCG, automobiles, and retail. The middle class and salaried professionals will have more disposable income, driving demand in these areas, said Rajiv Kumar, Vice Chairman, DS Group.

8:53 PM

We welcome this growth-oriented vision presented in Budget: Mr. Shikhar Aggarwal, Chairman, BLS E-Services

In a forward-looking budget, Honorable Finance Minister Mrs. Nirmala Sitharaman has laid the foundation for inclusive growth, empowering the Garib, Youth, Annadata, and Nari. With simplified KYC processes, digitized urban land records, and enhanced Mudra loan limits, this budget paves the way for a stronger, more connected India. We welcome this balanced and growth-oriented vision and are committed to partnering with the Government to drive the 'Digital India' initiative, especially in underserved areas, ensuring progress reaches every corner of the nation, said Shikhar Aggarwal, Chairman of BLS E-Services.

8:17 PM

Budget 2025 announcement will strengthen makeup brands: Bikash Goyal Founder, Glam 21

2025 announcement to increase investment and turnover limits for MSMEs will strengthen makeup brands by allowing them to scale, innovate, and meet rising demand. This move will allow brands like ours to expand, reach a larger audience, and continue to create products that not only meet but also exceed beauty expectations. With these changes, the industry remains committed to providing accessible, inclusive, and responsible beauty experiences, said Bikash Goyal Founder, Glam 21.

8:09 PM

Union Budget reflects a reassuring focus on stable growth: Kiran Mazumdar Shaw, Chairperson, Biocon Group

The Union Budget FY25-26 reflects a reassuring focus on stable and inclusive growth. The exemption of 36 lifesaving drugs from basic customs duty, and concessional rates on six others, will improve access to imported medicines. However, GST relief for domestically developed drugs for cancer, rare, and chronic diseases would benefit patients on a large scale. The plan to set up daycare cancer centres at district hospitals will improve cancer care accessibility, said Kiran Mazumdar Shaw, Chairperson, Biocon Group.

7:57 PM

Budget an invitation from govt for MSME sector to take a lead: Jairam Sridharan, MD, Piramal Finance

For the past few years, the Government has been the main actor in driving GDP growth. This budget is an invitation from the government - for private consumption and MSME sector to step forward and take a lead. A prudent borrowing plan for next year, contained spending and adherence to fiscal discipline offers space to fast track a change in monetary policy stance. So overall - the budget lays the groundwork for a rate cut cycle to start, and offers mechanisms for consumption and private sector growth to pick up, said Jairam Sridharan, MD, Piramal Finance.

7:47 PM

Budget a consistent effort to guide economy with free enterprise mindset: Zepto CEO Aadit Palicha

Zepto CEO Aadit Palicha stated that the budget reflects a consistent effort to guide India's economy with a mindset of free enterprise, while promoting growth and sustainability. "As a consumer tech company, we are excited about the opportunity to add buoyancy to the economy, especially as demand increases across emerging markets," he said.

7:42 PM

Budget a big win for India's startup ecosystem: Shashvat Nakrani, Founder, BharatPe

This budget is a big win for India's startup ecosystem. The Rs 10,000 crore Fund of Funds, along with extended tax benefits and regulatory reforms, will provide the much-needed capital and ease of doing business for emerging ventures, said Shashvat Nakrani, Founder, BharatPe.

7:39 PM

Budget 2025 will benefit the working class in India, says Sudhakar Sethuraman, Partner, Deloitte India

The Budget 2025 looks promising especially with the New Income tax bill proposed to be presented in a week and the amendments to the tax slabs primarily aimed to benefit the working class in India. The Hon’ble Finance Minister leaves no qualms when she mentioned that new tax bill is based on the same spirit of Nyay in its drafting making it clear, direct and concise about half in size of the existing legislation, said Sudhakar Sethuraman, Partner, Deloitte India.

 

7:30 PM

We welcome the Union Budget: Dhiresh Bansal, Chief Financial Officer at Meesho

"We welcome the Union Budget 2025-26 for its strong push for MSME growth, digital commerce, and boosting consumption for mass Indians. Increasing the investment and turnover limits for MSME classification is a game-changer that will drive scale, innovation, and job creation. The big boost for sectors such as toys, footwear and many others will lead to improved domestic capabilities in manufacturing and exports. We also wholeheartedly welcome the paradigm shift in income tax, which will allow many more mass Indians to fulfil their aspirations. We at Meesho, remain committed to empowering millions of small entrepreneurs and look forward to the long-term impact of these reforms," said Dhiresh Bansal, Chief Financial Officer at Meesho on Union Budget 2025-26.

6:51 PM

'Union Budget 2025 fuels India's growth engines'

"The Union Budget 2025 fuels India's growth engines with a bold push for manufacturing, green mobility, and 'rural empowerment' driving innovation, job creation, and global leadership. It's not just a financial plan, but a transformative blueprint for national progress and the empowerment of every citizen." Hero MotoCorp Executive Chairman Pawan Munjal said today.

6:44 PM

'Budget will provide immediate stimulus for demand and growth'

"The theme of "Make in India for the world" remains a key focus in this budget, with efforts to reduce India's manufacturing costs poised to significantly enhance the country's global competitiveness. In addition to providing an immediate stimulus for demand and growth, the budget emphasizes long-term growth through substantial infrastructure investments and a strong focus on innovation."

Mahindra Group, Group CEO & MD, Anish Shah said today.

6:35 PM

'Urban Challenge Fund will drive competitive reforms among states'

"Staying on the path of fiscal consolidation, the Budget seeks to lower capital costs, encouraging further private investment. A sharper focus on deregulation and simplified laws aims to reduce tax litigation and ease compliance. Additionally, the Urban Challenge Fund is set to drive competitive reforms among states, paving the way for higher, sustainable growth and advancing the vision of Viksit Bharat," Harsh Pati Singhania, CMD, JK Paper, stated. 

6:31 PM

'Raising of FDI limit to 100% in insurance sector will bring in global best practices'

"The raising of FDI limit to 100% in the insurance sector is certainly a welcome step. Insurance is inherently a capital-intensive business, and this move should attract more foreign capital into the country. This influx of investment will not only bolster financial stability but also bring in better know-how and global best practices. Additionally, it will pave the way for new and creative insurance products, ultimately leading to deeper penetration of insurance across India. This reform should benefit the industry and the economy at large, fostering growth and innovation," Vaibhav Kakkar, Senior Partner at Saraf and Partners, said.

6:26 PM

Budget 2025 provides convincing template for boosting growth, generating jobs: CII

"The Union Budget 2025-26 provides a strong and convincing template for boosting growth and generating jobs, the twin imperatives for our economy today, with targeted interventions towards facilitating inclusive development," CII President, Sanjiv Puri, said today.

6:21 PM

Budget proposals will lift the sentiments of the middle class: FICCI

"The budget proposals will re-energise the economy by lifting the sentiments of the middle class and nudging the private sector to advance its investment plans as demand improves across sectors," FICCI President Harsha Vardhan Agarwal said toda

6:15 PM

Rates across income bands have been reduced: FM Sitharaman

New system simplifies and reduces tax incidence for all, states Finance Minister Nirmala Sitharaman.

6:03 PM

'Extending Credit Guarantee Scheme to MSMEs a welcome step'

"Extending the Credit Guarantee Scheme for facilitating term loans for purchase of machinery and equipment without collateral or third party guarantee, to the MSMEs for up to ₹100 crore, is a welcome step and will ease the credit requirements of the sector. Structural reforms that focus on ease of doing business, especially with regards to time limit for provisional assessments and TCS/TDS compliances are also a welcome step," says Mihir V Shah, executive director, Vipul Organics Limited.

6:00 PM

'Infra projects at grassroots level set to accelerate, ensuring economic upliftment'

Speaking on the Budget, Arvind Nanda, Managing Director, Interarch Building Products Ltd, said, "The government's commitment to strengthening India's infrastructure through increased capital expenditure, Public-Private Partnerships (PPP), and key policy reforms marks a significant step towards holistic development. With a Rs 1.5 trillion allocation in interest-free loans to states, infrastructure projects at the grassroots level are set to accelerate, ensuring faster execution and economic upliftment."

 

He added, "The government's emphasis on urban infrastructure and the electronics sector is very good for pre-engineered building companies. Emphasis on greenfield airports, tourism hubs, and industrial infrastructure offers a significant opportunity for sustainable construction and innovation in eco-friendly practices. As a leading player in the pre-engineered buildings and steel structure industry, Interarch recognises the positive impact of these measures on industrial and urban expansion, aligning with the government's focus on quality infrastructure and sustainable operations to contribute to India's long-term growth."

5:58 PM

FM Sitharaman walking on worn-out path, not willing to break free as we did in 1991 and 2004: P Chidambaram

The Budget is full of new schemes, programmes; many of these beyond capacity of this government, says Congress leader P Chidambaram.

5:54 PM

This is a govt with no new ideas and no will to reach beyond its grasp: P Chidambaram on Budget 2025

"Economy will trudge along on old path, deliver no more than usual 6 per cent or 6.5 per cent growth in 2025-26," says P Chidambaram. 

5:54 PM

'National Manufacturing Mission will bolster India's position as global manufacturing hub'

According to Ganesh Sonawane, CEO & Co-Founder at Frido, "The Union Budget 2025-26 reaffirms India’s commitment to fostering innovation, entrepreneurship, and economic inclusivity, laying a strong foundation for startups and consumer-driven industries. The increase in credit guarantee cover, extended tax benefits, and fresh Fund of Funds investment will provide much-needed momentum for startups and MSMEs, enabling them to scale and drive domestic consumption. Additionally, the National Manufacturing Mission and export promotion measures will bolster India's position as a global manufacturing hub, aligning with our vision of ‘Make in India, Make for the World'."

 

He added, "A key highlight is the new tax regime aimed at reducing the middle-class tax burden, which is expected to boost disposable income and fuel demand for consumer brands across sectors such as retail, lifestyle, and technology. With a huge jump in Gen Z consumption spends, businesses catering to this dynamic demographic stand to benefit significantly."

5:47 PM

'Measures to streamline international taxation will provide greater regulatory clarity'

According to Monika Potharkar, Director-FSS and Site Lead at General Mills India Center, "The Union Budget’s emphasis on developing a national framework for Global Capability Centers (GCCs) in emerging Tier-2 cities is a testament to India’s commitment to building a future-ready digital and innovation ecosystem. Strengthening talent pipelines, upgrading infrastructure, and enabling industry collaboration will further position India as the preferred global hub for enterprise innovation and operational excellence."

 

She added, "The measures to streamline international taxation — such as the block-period approach for arm’s length pricing and the expansion of safe harbour rules — will provide greater regulatory clarity, reduce litigation, and enhance ease of doing business. Additionally, the introduction of a Center of Excellence (CoE) for Artificial Intelligence underlines India's commitment to developing a scientific temper and accelerating AI-driven transformation.  With these strategic initiatives, India is reinforcing its position as a powerhouse for digital transformation, AI adoption, and global enterprise operations."