Union Budget announcements like sixer on full toss ball: PHDCCI President

Industry body PHDCCI on Saturday termed the announcements made in the Union Budget as a "sixer on a full toss ball" which will drive growth across sectors improving infrastructure and enhancing governance.

In an interview to PTI, its President Hemant Jain said the key focus areas in the Budget 2025-26 included taxation, power, urban development, mining, the financial sector, and regulatory reforms, are major ingredients of development.

"It's like a sixer on a full toss ball. These areas will drive growth, improve infrastructure, enhance governance, and ensure sustainable development across various sectors," said Jain, who is also the Managing Director of KLJ Industries.

Union Finance Minister Nirmala Sitharaman tabled record eighth Union Budget in Lok Sabha on Saturday.

The size of the Budget at Rs 47.16 lakh crore, including a capital expenditure of Rs 10.1 lakh crore, will boost the economy, he said.

On the tax related announcements, Jain said it is a strong step to boost the middle income group. Zero income tax up to the income of Rs 12 lakh will boost consumption and increase spending.

In his reaction to the budget, Ranjeet Mehta, CEO & Secretary General, PHDCCI said a new manufacturing mission under the Make in India initiative to support SMEs and large industries through comprehensive policy backing and a detailed framework will create an ecosystem for solar PV cells, electrolysers, and grid-scale batteries.

The budget announced a three-year pipeline of projects by states to be given that can be implemented in private-public partnership (PPP) mode, with outlay of Rs 1.5 lakh crore proposed for 50-year interest-free loans will boost the infrastructure development in the country, he said.