Business

Industry Applauds Budget 2025

Published

2 years ago

February 3, 2025

Industry Applauds Budget 2025

Union Finance Minister Nirmala Sitharaman has unveiled the Union Budget for 2025, emphasizing that Agriculture, MSMEs, Investment, and Exports will serve as the driving forces in the pursuit of a Viksit Bharat. She noted that these sectors will leverage reforms as their fuel while fostering an inclusive approach.

The budget introduces a range of initiatives aimed at supporting various demographics, including the poor (Garib), youth, farmers (Annadata), and women (Nari), benefiting both the common man and the wider industry.

The Institute of Chartered Accountants of India (ICAI) welcomed the Union Budget, stating that it prioritizes ease of doing business, boosts domestic manufacturing, and positions India as a more competitive force in global trade, thereby enhancing economic resilience and growth.

ICAI President Ranjeet Kumar Agarwal remarked, “Our pre-budget suggestions regarding the finance bill 2025, including the gradual phase-out of the alternative tax regime, rationalization of TDS and TCS regulations, exemptions for withdrawals from NSS, and taxation of business trusts, have been acknowledged.” He also commended the decision to deem the annual value of self-occupied properties as nil for two homes instead of just one.

The PHD Chamber of Commerce and Industry (PHDCCI) praised the budget as a transformative initiative towards achieving the vision of ‘Viksit Bharat,’ with a strong emphasis on the middle class, MSMEs, private investments, and job creation.

Hemant Jain, President of PHDCCI, stated, “The emphasis on the middle class and MSMEs is set to bolster consumption and production, invigorate private investments, and generate job opportunities.” He further noted that key focus areas—such as taxation, power, urban development, mining, the financial sector, and regulatory reforms—will significantly contribute to growth, infrastructure enhancement, and sustainable development across multiple sectors.

The Confederation of Indian Industry (CII) highlighted the budget’s potential in fostering economic activity and employment, particularly within agriculture, MSMEs, and export-oriented industries.

CII President Sanjiv Puri commented, “The budget outlines clear investments in critical growth areas, including human capital development, urban infrastructure, and future-oriented technologies.” He lauded the government’s pledge towards climate transition, particularly regarding nuclear energy, innovation, and facilitating ease of doing business. Puri also acknowledged the importance of collaboration with states for sectoral initiatives and incentivization for reforms, asserting that this budget lays the groundwork for future reforms at the state level.

Joyshree Das Verma, National President of FICCI FLO, appreciated the government’s commitment to empowering marginalized communities, especially women. She highlighted the initiative to provide term loans for 500,000 women from SC/ST communities, which represents a significant step towards financial inclusion and entrepreneurship support. Verma also recognized the Saksham Anganwadi and Poshan 2.0 programs for their contributions to improving nutrition for vulnerable children, mothers, and adolescent girls.

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Business

RBI Ends Special Dollar-Rupee Swap Window Early Amid Strong Demand

Published

2 months ago

August 15, 2026

Namma Kudla

Mumbai: The Reserve Bank of India (RBI) has decided to close its special forex swap facility for fresh FCNR deposits early.

The facility will now close on August 31, the RBI said on Friday.

The central bank said the decision was taken after receiving an encouraging response. The facility has attracted $52.3 billion through fresh foreign currency deposits.

Banks can continue to undertake swaps with the RBI against FCNR deposits raised under the facility until September 11.

Meanwhile, the schemes for External Commercial Borrowings and Overseas Foreign Currency Borrowings will remain open until December 31, 2026.

The RBI launched the special US dollar-rupee forex swap facility on June 8. It allowed banks to raise fresh three-to-five-year FCNR deposits.

Banks could then swap these deposits with the RBI at a concessional rate. The facility effectively covered the entire hedging cost for banks.

The strong response to the scheme led the RBI to bring the facility to an early close.

Business

Leksa Lighting Technologies Named among India’s Top 100 MSMEs

Published

2 months ago

August 11, 2026

Namma Kudla

Moodbidri: A dream that began in the rural area of Niddodi in Moodbidri has now gained national recognition. Leksa Lighting Technologies Pvt. Ltd., founded by Ronald Sylvan D’Souza, has been recognised as one of India’s Top 100 MSME companies.

The prestigious national recognition was presented by the MSME Udyog Foundation at a ceremony held in New Delhi on August 8, 2026.

Ronald Sylvan D’Souza started his entrepreneurial journey from a humble background. Through hard work, discipline and continuous efforts, he built Leksa Lighting Technologies into a recognised lighting technology company.

The company has focused on quality, technological innovation and indigenous manufacturing. Research and development have also played an important role in its growth.

Leksa Lighting has adopted Japanese work practices to improve its manufacturing and operational standards. The company has also worked towards developing quality lighting solutions in India.

What began as a dream in rural Karnataka has now reached different parts of the country. The company is also making its presence felt in international markets.

Speaking about the recognition, Ronald Sylvan D’Souza said the award was not an individual achievement. He credited the entire Leksa team, customers, business partners, family members and everyone who supported the company.

He said he was proud and happy to see a dream that began in Niddodi and Moodbidri receive recognition at the national level.

The achievement highlights the potential of rural entrepreneurs. It also shows that determination, discipline and consistent hard work can help a business from a rural area achieve success on a national platform.

Leksa Lighting Technologies’ journey stands as an example of how a local dream can grow into a nationally recognised enterprise.

Business

Vehicle Prices to Increase from August 1

Published

2 months ago

July 28, 2026

Namma Kudla

New Delhi: Buying a new vehicle is set to become more expensive from August 1, adding to the financial burden on consumers. Several automobile manufacturers have announced a price hike due to rising production costs.

The increase is mainly driven by higher prices of raw materials and components. The cost of steel, aluminium, rubber, plastic, electronic chips, batteries, and spare parts has gone up in recent months. Global market changes caused by ongoing conflicts and inflation have also increased manufacturing expenses.

As a result, vehicle companies have decided to raise the prices of new models. Customers planning to purchase a new vehicle are likely to pay more from August 1.

The price hike is also expected to affect the travel and transport industry. Travel agencies and tour operators say buying new cars, SUVs, and other passenger vehicles will become more expensive.

Operators have already been facing higher expenses due to increased fuel prices and toll charges. With the additional cost of new vehicles, many travel agencies are preparing to revise their rental charges.

The Karnataka Travels Association has indicated that travel fares may be increased to manage the rising operating costs. Passengers may have to pay more for each trip if the revised rates are implemented.

Meanwhile, several automobile manufacturers have already published details of the upcoming price increase on their official websites. Consumers planning to buy a new vehicle may consider making their purchase before the revised prices come into effect on August 1.