In response to the recent budget announcement, business leaders across various sectors have expressed optimism and appreciation for the government’s strategic initiatives aimed at bolstering India’s economic growth and resilience.
Mr. Rahul Garg, CEO & Founder of Mogilx, hailed the removal of angel tax as a significant boost for the startup ecosystem. He emphasized that coupled with the establishment of a ₹1,000 crore VC fund for the space economy, these measures will stimulate innovation and entrepreneurial spirit.
The budget’s emphasis on manufacturing has also garnered praise, particularly the introduction of plug-and-play industrial parks, seen as a progressive step towards enhancing industrial efficiency and ease of doing business.
Small and Medium Enterprises (MSMEs) are set to benefit from several key provisions, including a credit guarantee scheme, new assessment models by PSU banks, and increased Mudra loan limits. These measures are expected to provide much-needed financial support and facilitate growth within the sector.
Furthermore, the allocation of ₹11 lakh crore for infrastructure projects, with a focus on nature-resilient initiatives, has been widely applauded. Business leaders view this as crucial for building a sustainable and robust infrastructure framework essential for India’s future development.
The budget’s strategic shift towards nuclear energy as a major power source has been described as visionary, reflecting a long-term commitment to energy security and sustainability.
Finally, the allocation towards cultural heritage projects, such as the development of Vishnupad and Mahabodhi temple corridors, Rajgir, and Nalanda, has been welcomed as a significant step towards preserving India’s rich cultural heritage and promoting tourism.
Overall, business leaders believe that these budgetary measures will not only stimulate economic growth but also reinforce India’s position as a global economic powerhouse, fostering innovation, sustainability, and inclusive development.
