Post-Budget 2025: Expert Opinions

Post-Budget 2025: Expert Opinions

Pankaj Panjwani, CEO and Founder, KeenSemi

“The Union Budget 2025-26 marks a defining moment for India’s semiconductor ambitions. The expanded PLI scheme of ₹6,200 crores and dedicated R&D fund send a clear signal —India is not just assembling but aiming to lead in design and fabrication of complex systems and chips. However, success hinges on execution of these schemes and lowering barrier for industry to utilize these incentives and schemes.

At KeenSemi, we see this as an opportunity to bridge the gap between India’s Indigenous requirements and skills needed to achieve them. We are ready to contribute, collaborate and deepen our role in India’s semiconductor value chain.

Global competitiveness will require not just financial incentives but also infrastructure readiness, faster approvals, and a seamless supply chain. This budget sets the right intent—what follows next will determine India’s strong trajectory in the global semiconductor supremacy race.”

Debadatta Chand, Managing Director & CEO, Bank of Baroda

“The Budget has reiterated its commitment to fiscal prudence by moving along the FRBM path. From the point of banks, the focus on growth is positive, as this would mean steady growth in credit as the budget has provided the necessary push to MSMEs and industry. There is boost to the corporate bond market including municipal bonds which will have a big role to play in financing investment required in the coming years. The concessions on the income tax front will put more money in the hands of taxpayers and would boost consumption in the economy. The capital expenditure of Rs 11.2 lakh crore announced will encourage investment and also help backward linkages to sectors like steel, cement, machinery etc. Working on the PPP mode across ministries to implement various projects is very progressive and will boost infrastructure capacity in the country.

The budget has also taken a medium term view for the next five years to move faster to the goal of Viksit Bharat and focussed on four major sectors – Agriculture, MSMEs, Investment and Exports thus covering both the objectives of inclusive and accelerating growth to higher levels.”

Daljeet Sandhu, CEO of Daltin AI Portal

 “Setting up Centers of Excellence on AI for education has taken a big step toward preparation of students for skills needed in the future by industries such as agriculture, healthcare, and sustainable cities. With AI-integrated learning, students will gain hands-on experience with current industry needs, preparing them for international careers in these key areas and contributing to the creation of over 11 million jobs in India by 2035. Such projects would foster collaboration between academic institutions and industries to be implanting students with practical AI applications relevant to the industry. However, considering the increasing demand for AI professionals, expanding the number of centres beyond three could better support the growing need for expertise in these critical fields.”

Eswara Rao Nandam, CEO and Founder of Polymatech Electronics

“The Government of India’s commitment to empowering MSMEs and driving technological upgradation is a commendable step towards positioning India as a global manufacturing hub. The enhanced credit facilities and increased investment and turnover limits for MSMEs will provide significant support for businesses, helping them scale efficiently and foster innovation. These initiatives will undoubtedly boost India’s export potential and drive growth in sectors such as opto-semiconductors, 5G, and LED lighting solutions.”

Ravi Goel, CBO RapidShyp

The Union Budget 2025 is a significant step forward for India’s logistics sector, focusing on technology, infrastructure, and efficiency. The transformation of India Post into a next-generation logistics provider highlights the government’s commitment to modernizing last-mile delivery and strengthening the national supply chain. This initiative is going to enhance competition, foster innovation, and improve accessibility, particularly benefiting MSMEs and e-commerce businesses.

Besides, strategic investment in multimodal logistics parks, AI-driven supply chain management, and better infrastructure in terms of roads, warehousing, and connectivity will boost operational efficiency and reduce costs and sustain growth. At RapidShyp, we welcome these reforms and look forward to leveraging this evolving ecosystem to deliver faster, smarter, and more resilient logistics solutions.

Rohit Beri, CEO & CIO ArthAlpha

The Union Budget 2025/26 takes a measured approach to personal income tax, delivering a welcome boost to consumption and much-needed relief for individuals earning up to ₹2.5 million annually. While the tax cuts are meaningful—potentially exceeding 6.5%+ of total personal income tax collections—the expectation was for a more ambitious restructuring to drive broader economic impact.

On the fiscal front, the government has prioritized prudence over expansion, ensuring long-term stability but missing a near-term opportunity to accelerate growth through higher capital expenditure. A more aggressive capex push could have provided the momentum needed to stimulate investment and job creation.

In terms of compliance, marginal adjustments to TDS and TCS offer little more than a gesture. The real test will be in the upcoming tax code—whether it truly simplifies taxation or adds another layer of complexity remains to be seen.

Deepak Chand Thakur, CEO NPST

The Union Budget FY 2025-26 delivers a comprehensive framework to stimulate growth, enhance investment, and provide direct financial relief.

The key highlight—no tax obligation on income up to ₹12.75 lakh—marks a significant shift in personal taxation. By restructuring slabs and rates across the board, this measure is set to increase disposable income, fueling household consumption, savings, and investment.

A direct consequence of increased discretionary spending will be a rise in digital transactions, further accelerating UPI adoption. As UPI cements its role as the dominant digital payment rail, higher transaction volumes are expected to follow.

The revamped PM SVANidhi scheme introduces enhanced micro-loans from banks, UPI-linked credit cards with a ₹30,000 limit, and structured capacity-building initiatives. This policy shift positions UPI beyond a payment rail into a fully integrated digital credit ecosystem, bridging India’s credit gap. With an estimated 10 million street vendors gaining access to formal credit, the initiative strengthens financial inclusion while driving digital-first lending.

The introduction of the Grameen Credit Score Framework will significantly expand rural access to credit, while streamlined KYC processes and a revamped registry by 2025 will enhance financial participation.

The structural reforms establish a robust foundation for inclusive economic growth, ensuring that investment, digital finance, and consumer-driven expansion work in tandem.”

Vineet Nanda, Director Sales & Marketing, Krisumi Corporation

The Budget 2025-26 marks a pivotal moment for our economy—a decisive step towards revitalizing demand and strengthening the backbone of our nation, the middle class. The tax exemption on income up to Rs 12 lakh is a welcome relief that will not only stimulate spending but also bolster confidence across various sectors, with real estate poised to be a prime beneficiary.

The launch of SWAMIH Fund 2, with a dedicated corpus of Rs 15,000 crore to complete one lakh stalled housing projects, stands out as a landmark initiative. This measure will accelerate the completion of essential housing projects and restore buyer confidence, laying a strong foundation for a more robust residential market.

Furthermore, the provision allowing the ownership of two self-occupied properties without additional tax conditions is a forward-looking move that will encourage investment in second homes, enhancing the diversity and resilience of the housing sector.

The budget’s strong focus on urban development—evident in the establishment of a Rs 1 lakh crore fund for developing cities as Growth Hubs—signals a clear commitment to transforming our urban centers into engines of economic progress. This initiative is set to drive sustainable urban redevelopment, modernize infrastructure, and unlock new growth opportunities.

At Krisumi Corporation, we see the Budget 2025-26 as a powerful catalyst for change. It aligns with our vision of fostering a dynamic and resilient real estate market that supports sustainable growth. We are ready to embrace these transformative measures and contribute to building a more prosperous future for our nation.

Sahil Agarwal, CEO, Nimbus Group

The Union Budget 2025-26 presents a well-balanced approach, addressing critical sectors of the economy while ensuring sustainable growth. Infrastructure development remains a top priority, with the government introducing various schemes to strengthen both urban and rural infrastructure, enhance connectivity, and drive economic expansion.

A key highlight of the budget is the government’s continued commitment to reviving stalled real estate projects. The Special Window for Affordable and Mid-Income Housing (SWAMIH) scheme, which has already played a pivotal role in unlocking delayed housing projects, is set to receive a major boost. The government has proposed the creation of SWAMIH Fund 2, a blended finance facility with contributions from the government, banks, and private investors. With a ₹15,000 crore corpus, this initiative aims to accelerate the completion of an additional 1 lakh housing units, providing crucial relief to homebuyers and stimulating growth in the real estate sector.

Additionally, tax slab revisions leading to higher disposable income will likely boost housing demand, as increased savings will encourage more individuals to invest in homeownership. By prioritizing infrastructure growth, housing revival, and economic stimulus, the budget lays the groundwork for long-term financial stability and a stronger real estate market.

Raoul Kapoor, Co-CEO, Andromeda Sales and Distribution Pvt Ltd

We welcome the Union Budget 2025-26, which presents a strategic roadmap for accelerated economic growth while offering much-needed relief to the middle class. The Finance Minister has introduced progressive tax reforms that are set to increase disposable income, fostering both financial stability and consumer spending.

With the revised income tax slabs and reduced tax rates, a rough estimate suggests that taxpayers could save up to ₹10,000 per month, depending on their income bracket. This significant boost in savings will enable individuals to better manage existing loans and enhance their loan eligibility, making homeownership and other large investments more accessible.

The ripple effect of increased disposable income will be felt across the retail loan industry, as more individuals will have the financial confidence to take on new loans, whether for housing, automobiles, or personal financing needs. This policy move is expected to strengthen the banking and NBFC sector, further driving economic momentum.

Debopam Chaudhuri, Chief Economist, Piramal Group

“Debt markets should benefit from the budget’s fiscal management. Despite economic growth falling behind expectations in FY25, Fiscal Deficit of 4.8% was better than targeted 4.9%. Also, though Economic Survey expected growth to remain restricted at or under 6.8% in FY26, central government fiscal deficit has been forecasted to be 4.4%. Another 15-basis point reduction in the 10-year government security is expected after today’s announcements. No other major economy has been able to reduce fiscal deficit at this pace post COVID, bolstering India’s place as an upcoming economic power. The tax cut led additional income available to India’s vast middle class and aspiring population is expected to override the slow public capex in FY26 and provide the Indian economy with the necessary boost to come out of the current slowdown.”

Ankur Jalan, CEO, Golden Growth Fund (GGF)

As India aims to become $30 trillion economy by 2047, the country must embark upon a phase of rapid development in the next two decades.
To this end, the Union Budget by exempting income upto Rs 12 lakh, will boost consumption and enhance savings.
It will also increase investment across all asset classes, including AIFs and real estate, by having a multiplier effect on the economy by boosting incomes and encouraging further investment.
The induced savings will also help government create a larger fund for investment and other capital expenditure.

Garvit Tiwari, Director & Co-Founder, InfraMantra, Gurugram based property consulting firm

The exemption of tax on income up to Rs 12 lakh is not just a welcome move at this juncture considering falling consumption and rising inflation but a revolutionary move for India’s tax paying and consuming class.

The overall impact of this move will be seen in increased consumption, including discretionary and more importantly by increasing demand for homes which off late has been on a declining trend owing to rising prices.

In the last few years, real estate demand has been positively impacted by massive infrastructure development across Indian cities. The greater emphasis in this Budget on urban rejuvenation and infrastructure development will further give a boost to expanding housing supply and sales.