Budget 2025 : What Are The Expectations Of Different Sectors?

We are keenly anticipating Budget 2025, hoping for reforms that will ease distribution costs and spur growth. Among the primary expectations is a reduction in the Goods and Services Tax (GST) on insurance premiums. Lowering GST would make insurance products more affordable for policyholders, potentially boosting sales and reducing customer acquisition costs. A tiered GST structure, with reduced rates for specific products or even a zero rating for micro-insurance and digitally sold health insurance, is suggested.

Tax incentives for technology adoption are another key demand. We propose tax breaks for investments in technology aimed at improving insurance distribution. This includes deductions for expenses on cloud computing, data analytics tools, and AI-powered underwriting platforms, which are crucial for enhancing efficiency and customer experience.

We believe that support for insurtech startups is also critical. The industry urges the government to allocate funds or create programs that facilitate the growth of these startups. This could involve grants for research and development, easier access to capital, and tax breaks for venture capitalists investing in insurtech firms. Such measures would help foster innovation and ensure the continued evolution of the insurance sector.

By addressing these areas, Budget 2025 can significantly reduce distribution costs for insurtech companies, enabling them to deliver more affordable and accessible insurance products to a broader audience.

As we count down to the 2025 Union Budget, the fintech and NBFC sector is buzzing with anticipation. This could be the year that unlocks its full potential, driving economic growth, job creation, and financial empowerment for millions of Indians. We're hoping the government will introduce policies that foster innovation, financial inclusion, and digital transformation. This could include tax incentives for fintech startups, streamlined regulations for digital lending, and investments in digital infrastructure. Financial literacy, credit accessibility, and customer protection should also be top priorities.

To create a more inclusive and competitive financial ecosystem, we need to see measures that encourage collaboration between fintech companies, NBFCs, and traditional banks. This synergy will be crucial in driving growth and prosperity.

By addressing these key areas, the government can propel the fintech and NBFC sector to new heights, unlocking opportunities for entrepreneurs, small businesses, and individuals across the country.

The Union Budget is poised to transform the education system by 2025, focusing on internationalization, incorporation, and accessibility. It aims to enhance partnerships with Indian and international universities, boost digital infrastructure for smart learning, and provide financial aid for students studying abroad. These initiatives are crucial for ensuring equitable access to quality education across diverse backgrounds. By increasing scholarships and grants, the government can further promote academic growth and elevate India’s global educational standing.

We anticipate a focus on technology integration, faculty development, and infrastructure enhancement to align with evolving job market demands. Ultimately, a well-supported education budget represents an investment not only in classrooms but also in the future success of our students and the nation as a whole.

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As the government gears up to unveil the 2025 Union Budget, the NBFC/Fintech sector is abuzz with anticipation. We're eagerly waiting to see how the budget will propel growth, innovation, and financial inclusion in our sector. At the top of our wish list are initiatives that boost financial inclusion through digital lending platforms, bringing credit access to the unbanked population. Tax incentives for digital lending platforms would be a huge bonus, especially if they include tax relief for companies investing in cutting-edge technology. 

We're also hoping to see policies that enhance digital infrastructure, facilitate data-sharing frameworks, and promote credit health awareness through nationwide credit literacy programs. Of course, encouraging responsible lending practices, fostering collaboration between fintech and traditional financial institutions, and providing regulatory support that balances innovation with customer protection will be vital. By tackling these key areas, the government can unlock the full potential of the NBFC/Fintech sector, driving financial inclusion and economic growth that benefits everyone.

As the Union Budget 2025 draws near, the digital home loan and fintech sector is enthusiastic. We're counting on the government to introduce policies that will supercharge growth, innovation, and financial inclusion, making homeownership a tangible reality for millions of Indians.

To achieve this, we're hoping for measures like tax incentives for first-time homebuyers, streamlined regulations for digital lending, and investments in digital infrastructure. These initiatives will not only make home loans more accessible and affordable but also promote digital literacy, credit accessibility, and customer protection.

Effective collaboration between fintech companies, banks, and housing finance institutions is also crucial for driving a more inclusive and competitive financial ecosystem. By addressing these key areas, the government can unlock the full potential of the digital home loan and fintech sector, driving economic growth, job creation, and financial empowerment for millions of Indians. We're optimistic that Budget 2025 will be a game-changer for our sector, paving the way for a brighter financial future.

Budget 2025-26 is a pivotal moment for India’s energy future. With more than ₹8 lakh crore allocated for transmission over the next seven years, it is essential to craft policies that foster the growth of renewable energy and strengthen domestic manufacturing. The waiver on transmission charges for the renewable sector has been a crucial policy move, positioning India as a leader in renewable energy deployment. 

However, continued support is vital to maintain this momentum and ensure that commercial and industrial (C&I) consumers increasingly choose renewable energy in alignment with the 500 GW mission. The budget should prioritize allocating at least ₹5,000 crore for the extension of the ISTS waiver for another term. Additionally, significant funding should be directed towards accelerating the development of cutting-edge technologies, particularly in areas like submarine cables, HVDC technology, and strategic communication systems, to outpace global advancements.

Nifty falls below 23K, as the Sensex pares gains, up more than 600 points. On the Nifty, Sun Pharma, Britannia Industries, Hindalco, Grasim Industries, and Bharat Electronics were among the top losers, while Axis Bank, HDFC Bank, Bajaj Finserv, and Shriram Finance were among the top winners.

As India strengthens its position in the global video gaming industry, Manvendra Shukul, CEO of Lakshya Digital, outlines key budget expectations to drive growth and innovation:
Boosting Innovation & IP Development – Government support through grants, subsidies, and incubation programs can help Indian developers create original IPs with global potential.

Attracting Global Investors – Fiscal incentives and tax benefits for international gaming studios can encourage investment, knowledge transfer, and job creation.

Tax Holiday for Startups – A 10-year tax exemption for new video game studios, similar to past IT sector benefits, can help emerging companies grow and scale.

Skilling & Talent Development – Collaboration between government, academia, and industry is essential to bridge the talent gap and ensure a skilled workforce.

Infrastructure & Ecosystem Support – Investment in world-class gaming studios and AVGC (Animation, Visual Effects, Gaming, and Comics) hubs can foster industry growth and innovation.
These measures can unlock India’s gaming potential, create jobs, and establish the country as a global gaming hub.
 

Nifty slips below 23,000 while the Sensex falls 500 pts from its high, up over 600 points. 

As we approach Budget 2025, we urge the government to prioritize the allocation of resources toward advancing indigenous technology development, particularly in AI, cybersecurity, and data analytics. Strengthening the technology ecosystem will not only ensure self-reliance but also create a robust infrastructure to address critical challenges in national security and data protection.

 Policies encouraging private-public collaborations, along with tax incentives for R&D in emerging technologies, would significantly bolster innovation and contribute to India's digital transformation journey. A forward-looking budget that emphasizes these areas will accelerate growth for technology-driven companies like Innefu Labs and position India as a global leader in tech

Tashwinder Singh - CEO & MD at Niyogin Fintech Limited said, "I anticipate a strong emphasis on facilitating credit access, potentially through innovative solutions like special liquidity windows for NBFCs and fintech companies.

Investing in infrastructure that directly supports MSMEs is crucial. Although the introduction of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has provided some relief, simplifying eligibility criteria for NBFCs to address the gap more effectively will be beneficial. It is vital to recognize the mounting costs and working capital pressures these businesses face and find ways to alleviate them. Addressing the challenge of non-performing assets in this sector is important for ensuring lenders' stability. Additionally, prioritizing upskilling programs and creating an equal playing field for women entrepreneurs will promote fairness and uncover significant potential, fostering inclusive growth."

 Sachin Jain, Country Head at ETS India & South Asia, “The focus should be on fostering equitable access to high-quality education and assessments that prepare students and professionals for international opportunities.

The government’s continued push towards internationalizing Indian higher education institutions (HEIs) under the National Education Policy has opened significant avenues for collaboration. The upcoming Budget presents an opportunity to further these efforts by creating streamlined pathways for global talent exchange, simplifying admissions for international students, and promoting India as a destination for high-quality education.

Additionally, fostering public-private partnerships to scale regional testing infrastructure and aligning skill-building programs with global benchmarks can create transformative outcomes. With strategic investments and forward-looking policies, this Budget can lay the groundwork for a more inclusive and globally competitive workforce, positioning India as a leader in the global knowledge economy.”
 

Prof. Radhika Shrivastava, Executive Director , Fortune Institute of International Business (FIIB) New Delhi on expectations of education sector, "In light of the upcoming budget, we anticipate strategic investments in education, particularly in skill development and advanced learning technologies, to empower the future workforce. As the demand for industry-ready talent increases, it is crucial to encourage greater collaboration between academia and industry. We hope the government will prioritize funding for initiatives that promote entrepreneurship, digital literacy, and vocational training that is made accessible to women, as these are key drivers of India's economic growth. Additionally, we encourage policies that support the growth of management education institutions, facilitating global-standard education while ensuring affordability and accessibility. A focus on creating an innovation-driven ecosystem that integrates academic learning with real-world applications will not only address the talent gap but also boost India's competitive edge in the global market."

"We are optimistic about the upcoming budget and hopeful that it will build on the positive momentum set by last year’s Union Budget reforms, such as the abolition of the angel tax, which significantly reduced the financial pressure on startups while creating a much more supportive ecosystem for innovation and growth. 

Building on this, we are expecting that the government will further simplify the taxation process, making it accessible even to the smallest entrepreneurs who can independently understand the system and use their resources more effectively. Additionally, in today’s digital world, we also anticipate the government to prioritize investments in digital infrastructure. 

Strengthening connectivity and fostering seamless communication between businesses and stakeholders can unlock new opportunities for startups, driving both engagement and efficiency. Also, we expect the introduction of a single window clearance system for regulatory approvals. 

A transparent portal will most definitely ease the compliance challenges, reduce the reliance on consultants, enhance the speedy approval process, and enable startups to focus more on innovation and growth. It will also have incentives in terms of adoption through grants, subsidies, or tax benefits. Allocating resources to support this transformation will not only fuel growth but also position India as a technological leader globally." said Imteyaz Ansari, Founder of Azmarq Technovation.

"With renewable energy emerging as a cornerstone of India’s energy security and climate resilience, the Union Budget 2025 presents a pivotal opportunity to reinforce the nation’s commitment to ‘green growth.’ It is essential for policy measures to ensure sustained financial support and industry incentives, enabling the sector to maintain its impressive growth trajectory.

As India takes a leading role in the global climate action agenda, we believe that Budget 2025 can unlock greater investments, foster technological innovation, and empower communities with clean, affordable energy solutions. A clear roadmap for energy storage solutions and grid modernization will be essential in addressing intermittency and scalability challenges, ensuring the resilience and sustainability of the renewable energy ecosystem," said Amit Jain, CEO & Country Manager, ENGIE India.
 

Rajamani Krishnamurti, President of the Indian Stainless Steel Development Association (ISSDA) said, stated , "The stainless steel industry is integral to India’s infrastructure and sustainability goals. By prioritizing Life Cycle Cost Analysis in public projects and implementing supportive policies, the government can transform the sector into a global powerhouse, contributing significantly to India’s Atmanirbhar Bharat mission."

"In the Union Budget 2025-26, we urge the government to prioritize rational tax policies that could enhance the sector’s contribution to the economy while ensuring player protection and responsible gaming practices. With the potential to contribute Rs 75,000 crores in GST over the next five years, the online gaming industry is a crucial catalyst for economic advancement, aligning perfectly with the Hon’ble Prime Minister’s clarion call for a Viksit Bharat", said, Anuraag Saxena, CEO EGF (E-Gaming Federation)

Kushagra Srivastava, Founder, Chakr Innovation on expefctations of  Cleantech & RECD Manufacturing Industry, "The cleantech sector is keenly observing the potential support for industries committed to sustainability. Initiatives like the PM-KUSUM Scheme and the National Solar Mission have laid the foundation, but additional incentives such as tax benefits, grants, and subsidies will encourage more organizations to transition toward green solutions. Promoting self-reliance under Atmanirbhar Bharat while reducing dependency on external resources will further strengthen India's economic resilience. A focused approach in this direction will not only drive environmental health but also establish India as a leader in sustainability and innovation."

D. S. Negi, CEO, Rajiv Gandhi Cancer Institute & Research Centre (RGCIRC) comments on healthcare expectations of the healthcare sector, "The budget must prioritize digital health solutions such as telesurgery, electronic health records (EHRs), and AI-driven diagnostic tools to improve healthcare delivery. There should also be a strong focus on enhancing nationwide cancer screening programs and providing access to cutting-edge treatments like immunotherapy and personalized medicine.

Increasing healthcare spending to 2.5% of GDP, along with robust policy measures, is essential for creating a resilient healthcare system. Comprehensive support for cancer survivors—through rehabilitation, mental health services, and survivorship programs—will further improve their quality of life. High import duties on medical equipment, reaching up to 36%, significantly increase treatment costs, particularly for mid-sized operators and smaller cities. The Budget should provide relief from these duties to enable more hospitals acquire high-end equipment, making treatments more affordable and accessible."