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.