Opinion of Lovely Group Chairman on Budget
City Air News
Feb 3, 2025 09:12
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"The Union Budget 2025 presents a good framework for India’s growth, with a focus on agriculture, MSMEs, exports, and emerging technologies. Initiatives like the National Geospatial Mission and a deep-tech fund position India to lead in advanced technologies and sustainability. Agriculture, in particular, benefits from increased investments in irrigation, crop insurance, and rural welfare, though deeper structural reforms could have further elevated the sector.
The government’s focus on energy, healthcare, and education aims for inclusive growth. Expanding digital learning and skilling programs demonstrate a forward-thinking approach to workforce preparedness. Additionally, initiatives for gig workers and women entrepreneurs reflect an effort to empower diverse segments of society.
Measures like energy security and export promotion could provide additional support for rural economies and agricultural innovation. Tax reforms, such as raising the income tax threshold to ₹12 lakh, offer relief to many, including farmers.
Overall, while the budget outlines a promising path for India’s future, more focus on social equity and job creation could have further strengthened its potential for widespread transformation. Still, it lays a good foundation for future progress, with room for refinement."
Ramesh Mittal, Chairman, Lovely Group
