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Budget Reactions

Published in Corporate Sunday, 02 February 2025 19:05

 

 

 

 

Keshav Bhajanka, Executive Director, CenturyPly 

 

"I believe the Union Budget 2025 places a strong emphasis on infrastructure and employment investments, which are critical to driving sustainable economic growth. The introduction of the National Manufacturing Mission is a commendable step toward bolstering the 'Make in India' initiative. The government's focus on expanding affordable housing under the Pradhan Mantri Awas Yojana and its emphasis on sustainable urban development resonate with our vision. The commitment to enhancing infrastructure, improving rental housing availability, and introducing reforms in stamp duty rates is sure to bring significant advancements to the country's manufacturing and infrastructural development landscape. The budget presented is well-structured and promising. While there have been some concerns regarding consumption over the past few months, the newly devised income tax slabs are well thought out. The decision to increase disposable income is commendable, as it will significantly benefit the economy in both the short and long term. Additionally, the reduction in the tax burden on the middle class is expected to lead to a substantial rise in disposable income, which, in turn, is likely to boost consumption in the short, medium, and long term—ultimately proving beneficial for us." - Keshav Bhajanka, Executive Director, CenturyPly.

 

 

 

Cement Manufacturers Association (CMA) Applauds Highlighted Focus on the Country’s Infrastructure Development in Union Budget FY26

 

 

 

The Cement Manufacturers’ Association (CMA)  welcomed the Union Budget 2025-26 presented by the Honourable Finance Minister Smt Nirmala Sitharaman. The Budget presents a commendable vision for India's economic growth emphasising rural and urban development, increased infrastructure investment, employment led growth and strategic investments in people, economy, and innovation.

 

 

 

Commenting on the Budget, Mr Neeraj Akhoury, President, Cement Manufacturers’ Association (CMA) and Managing Director, Shree Cement Limited, stated, “CMA hails the Union Budget, announced under the leadership of Prime Minister Narendra Modi for its comprehensive focus on holistic and inclusive development. The Budget reinforces a transformative journey towards building a resilient economy for advancing India’s development goals. The various initiatives announced by the Government balance people’s aspirations with the future requirements for the Country’s economic growth. The focus on increased investments on infrastructure across States amplifies opportunities and avenues for the growth of the Cement sector. We appreciate the sustained core focus on infrastructure and reiterate our commitment to being partners in Nation’s progress.

 

 

 

The increased spending on large scale housing and infrastructure projects will drive demand for construction materials allowing capacity expansion and promotion of innovation in sustainable practices. We are certain that despite challenges these measures will support the Cement Industry in achieving a consistent CAGR growth rate of more than 6 per cent of installed cement capacity in the present financial year. Policy reforms in Budget 2025-26 signal a  reaffirmation of the Government’s intent to augment socio economic growth across core sectors."

 

 

 

 Parth Jindal, Vice President, Cement Manufacturers’ Association (CMA) and Managing Director, JSW Cement Limited

 

 

 

“The Budget presented by Finance Minister Smt. Nirmala Sitharaman is a forward-looking roadmap that will play a pivotal role in shaping the future of India’s cement industry, in line with the country’s vision for a Viksit Bharat by 2047. It prioritizes growth in key sectors such as infrastructure, manufacturing, and technology. The increased investment in technology will accelerate advancements in green cement solutions, driving both sustainability and innovation within the industry. Notable allocations, including ₹20,000 crore to foster innovation and ₹1.5 lakh crore in 50-year interest-free loans to states for capital expenditure on infrastructure development, are expected to significantly bolster growth in the core sectors, including cement sector.

 

He further added, “The Budget’s focus on a three-year pipeline of projects under the public-private partnership (PPP) model will incentivize private sector investment and catalyze a transformation in the infrastructure landscape. Additionally, the establishment of five National Centers of Excellence for skill development, as part of the 'Make for India, Make for the World' initiative, will ensure that India’s emerging workforce is well-equipped to meet the demands of a rapidly growing economy.”

 

CMA applauds the Government's steadfast commitment to a modern, people centric, trust based regulatory framework with a focus on ease of doing business, which will support businesses in accelerating growth.

 

 As Finance Minister Nirmala Sitharaman stated, the next five years present a unique opportunity to realize 'Sabka Vikas', fostering balanced growth across all regions. As a key driver of nation building, the Cement Industry remains committed to supporting the Government’s vision through innovation, and technological integration.

 

Jaya Vaidhyanathan, CEO, BCT Digital 

 

The budget takes a bold, strategic approach to economic growth, balancing fiscal incentives, credit expansion and sustainability to drive long-term resilience and global competitiveness. It boosts disposable income through reduced personal income tax and higher TDS limits for senior citizens and rent, stimulating consumption and economic momentum. Targeted credit expansion for farmers and MSMEs will inject vital liquidity, accelerating sectoral growth, while the transition to cashflow-based lending reinforces financial stability. The Bharat Trade Net and NABFID credit enhancements will sharpen India’s export competitiveness amid global headwinds. Moreover, a strong push for workforce participation, particularly for women, and a firm commitment to green initiatives will drive sustainable, inclusive development. I expect these measures to collectively lay the foundation for long-term economic resilience and nation-wide growth.

 

 

 

Sumit Bhatia, co-founder, Aksum Trademark Pvt. Ltd

 

"The Government’s decision to increase investment and turnover limits for MSMEs by 2.5x and 2x, respectively, is a welcome move that will enable businesses to scale, innovate, and attract investments. Additionally, the enhanced credit guarantee cover under CGTMSE will provide easier access to formal credit, helping MSMEs grow and modernize.

At Aksum , we believe these reforms will strengthen India’s MSME sector, boost job creation, and drive economic growth. We look forward to leveraging these benefits to expand and innovate."

 

 

 

 

 

 Jeenendra Bhandari, Chairman of JITO Incubation and Innovation Foundation (JIIF).

With China aggressively expanding its AI capabilities and the U.S. maintaining its dominance, India cannot afford to lag behind. Deep tech is no longer an option; it is the need of the hour. The government's commitment—allocating ₹20,000 crore for private-sector-driven R&D and proposing a Deep Tech Fund—signals a crucial shift toward fostering homegrown innovation. With alternative investment funds already receiving commitments of over ₹91,000 crore and an additional ₹10,000 crore Fund of Funds on the way, we have a unique opportunity to build world-class startups in AI, quantum computing, and advanced manufacturing.

 AK Tyagi, Founder, Chairman & Managing Director of Nuberg Engineering Ltd.  (Global EPC & LSTK Company)

“I congratulate the government on a forward-looking Union Budget 2025-26 that prioritizes energy security and sustainability. The ambitious Nuclear Energy Mission (100 GW by 2047) and the 500 GW renewable energy goal by 2030 reinforce India’s green future. Increased incentives for green energy, MSME solarization, and domestic manufacturing will boost industries and job creation.

The budget’s emphasis on hydrogen as a clean fuel aligns with India’s energy strategy. Support for green hydrogen production, industrial decarbonization, and ammonia-based solutions will drive innovation and sustainability. Investment in infrastructure and emerging technologies will further accelerate the energy transition. With strong policies and financial backing, this budget sets the stage for India’s leadership in sustainable energy.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Last modified on Monday, 03 February 2025 19:14

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