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Updated 18:56 IST, January 31st 2025

Budget 2025 : What Are The Expectations Of Different Sectors?

The real estate, income tax, energy, startup, etc sectors are all looking forward to the budget of 2025 with their set of expectations.

Reported by: Business Desk
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Union Budget 2025
Union Budget 2025 Industry Expectations | Image: Republic Digital

The budget will be presented on February 1, 2025 at 11 am. The budget is popularly known as Modi 3.0 and will be presnted by the Finance Minister, Nirmala Sitharman.

real estate, income tax, energy, startup, etc. sectors are all looking forward to the 2025 budget with their set of expectations. Some expect regulatory reform, others expect a tax cut, and others expect ground-level support from the government. Read here to figure out what the industry leaders want from the upcoming budget.

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The real estate, income tax, energy, startup, etc. sectors are all looking forward to the 2025 budget with their set of expectations. Some expect regulatory reform, others expect a tax cut, and others expect ground-level support from the government. Read here to figure out what the industry leaders want from the upcoming budget.

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18:56 IST, January 31st 2025

Sanjeev Bhatt, Sr. Vice President - Corporate Strategy at Meril On Budget Expectations

The medical devices sector has witnessed remarkable growth globally, becoming a cornerstone of modern healthcare by advancing patient outcomes and accessibility.

In India, the first quarter of the 21st century has been transformative, positioning the country as a global hub for high-quality, affordable medical technologies.

This progress has been significantly supported by the Government of India’s visionary initiatives, such as the Production Linked Incentive (PLI) scheme and a strong focus on healthcare infrastructure. These measures have spurred innovation, investments, and self-reliance in medtech manufacturing. As the Union Budget approaches, we look forward to continued support in R&D, exports, and industry-driven incentives to sustain this momentum.

At Meril, we are proud to contribute to India’s medtech evolution by delivering world-class solutions that transform lives. We remain committed to advancing India’s position as a leader in global healthcare innovation for a healthier future

18:26 IST, January 31st 2025

Manish Singhal, Secretary General of ASSOCHAM

ASSOCHAM has proposed a number of measures to boost investment, such as expanding the application of presumptive taxation to MSMEs and cutting-edge companies like cloud computing, data centers, and data hosting, which benefit the government and taxpayers alike. By calculating income on a predefined basis, this would let these taxpayers comply more easily, which would lessen their fear of tax issues and litigation, according to Mr. Manish Singhal, Secretary General of ASSOCHAM. Businesses can also better plan and manage their finances by knowing their tax liability ahead of time and avoiding complicated audits and paperwork.

In order to encourage skill development, entrepreneurial training, and sector expansion, Mr. Singhal also emphasized the necessity of establishing MSME universities. Additionally, he emphasized the necessity of creating Integrated Infrastructure Townships for MSMEs nationwide, which is a modified form of the previous Industrial Estate Development Program. Common testing and R&D facilitation centers, financial institutions, common service providers, labor housing, schools, hospitals, labor training facilities, export assistance centers, and more may be found in these townships.

According to Mr. Singhal, MSMEs continue to encounter difficulties obtaining financing in spite of the policy allowing for loans without collateral. Banks frequently impose higher interest rates and demand collateral in the form of personal property, making it more difficult to obtain credit. According to him, banks should be required to reveal the quantity and value of loans they provide without security on a regular basis. Similar to the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), which was introduced during COVID and proved to be a lifeline propelling the growth of MSMEs, he recommended that the next budget include an extra allocation or net to improve credit flow to the MSMEs.

18:25 IST, January 31st 2025

Gautam Mohanka, CEO, Gautam Solar On Union Budget Expectations

The year 2024 marked a transformative period in India’s green energy journey, with renewable energy capacity surpassing 200 GW in October, constituting 46.3% of the total installed capacity, primarily driven by solar energy’s 90.76 GW contribution. This milestone reflects the success of initiatives like the Jawaharlal Nehru National Solar Mission and supportive government policies.

 Looking ahead, the Union Budget 2025 is expected to accelerate this momentum by focusing on key areas such as scaling rooftop solar installations through the PM Surya Ghar Yojana, improving digital infrastructure like the National Solar Portal for better project execution, and supporting battery energy storage systems (BESS) with customs duty concessions to enhance grid stability.

The renewable energy sector also expects the government to take substantial initiatives to address the talent gap through rural skill development programs under the PMKVY and PM-KUSUM schemes. All in all, Budget 2025 is expected to solidify India’s global leadership in renewable energy, align the country's economy with net-zero goals, and drive sustainable economic development.

15:08 IST, January 30th 2025

Ashish Agarwal, Bluepine Energies On Budget 2025

“Due to the efforts of GOI , India has done good progress in establishing solar manufacturing in the country. In this budget we expect that budgetary allocation for pilot projects for use of advanced technology modules, battery and hydrogen electrolyzer is done so that we keep abreast with the technology curve.” said, Ashish Agarwal, Bluepine Energies.

 

14:04 IST, January 30th 2025

Piyush Arora, MD & CEO Of Skoda Auto Volkswagen India

Piyush Arora, MD & CEO of Skoda Auto Volkswagen India, said, "The upcoming Union Budget presents an opportunity to address some pressing needs of the automotive sector. A long-term vision for favorable tax structure catering to different automotive technologies would certainly benefit the industry. The product development cycles are quite lengthy and require substantial investment which needs to be considered. Simplifying the GST structure for the different classes of vehicles & components is another ask.

The Government‘s PLI scheme facilitates in boosting investments in domestic manufacturing. Budget allocation on facilitating the EV ecosystem like charging infrastructure will give further lift to sustainable mobility.  

Allocating a budget for better and safe road infrastructure will facilitate the growth of the auto industry.

There are early signs of auto industry growth slowing down. Therefore, budgetary initiatives to boost disposable income of consumers is necessary to support robust growth.

I am optimistic that this Budget will introduce practical and forward-looking measures to strengthen the automotive sector and support its role in India’s economic growth and environmental ambitions."

13:56 IST, January 30th 2025

Kapil Bardeja, Co Founder & CEO, Vehant Technologies On Budget 2025

Kapil Bardeja, Co Founder & CEO, Vehant Technologies, said “From the Union budget, we are expecting the government to focus on infrastructure development and smart city initiatives, given that the pace of investment in AI-driven technologies is accelerating globally in security, surveillance, and efficiency. India is in an excellent position to take the lead in these areas, as AI will radically transform the key sectors, such as traffic management and public safety, through embracing smart technologies. Additionally, improved real-time data analysis, optimized management of traffic flow, and proper prediction of security threats would enhance the overall road safety & security framework of the nation.


Moreover, promoting 'Make in India' in tandem with AI could create a thriving innovation ecosystem, fostering manufacturing and tech entrepreneurship. This would not only reduce the dependency on imports but would enable the development of cutting-edge technology by local industries. India, with its strong pool of tech talent and proper investments, could become a global leader in AI and smart technologies. Critical investments in research and development at universities and research institutions will also drive breakthroughs in technology. These institutions are innovation hubs, and with adequate funding, they could lead the way in developing AI and other smart technologies.


Moreover, grants, incentives, and strategic partnerships between the government and private companies can also play a great role in propelling the pace of smart city development. We are expecting initiatives where business and government collaboration on infrastructure projects of significant scale will accelerate and be faster and more effective. These innovations will eventually penetrate rural areas to bring about more inclusive growth and take India to be a technology-powered nation."
 

17:29 IST, January 31st 2025

Amit Kapur, Managing Director of Vedatya On Budget Expectations

Education Reform 3.0 marked a significant shift towards bridging the skill gap, with a strong focus on digital literacy and industry-relevant education. Initiatives like the National Apprenticeship Program and the Skill India Mission have helped millions of students gain hands-on experience, reducing the mismatch between academic qualifications and industry requirements. 

Education sector received an allocation of ₹73,498 crore in the financial year 2024-25, which is the highest ever for the Department of School Education and Literacy. The department was granted an overall increase of ₹12,024 cr (19.56%) in the FY 2024-25.


As we look to the Interim Budget and the launch of Education Reform 4.0, the focus we hope will expand to global partnerships and public-private collaborations to build a more robust educational ecosystem. By fostering deeper ties with international institutions, both private and public sectors can provide access to cutting-edge tools and curricula, further enhancing India's global competitiveness. 

This phase could prioritise industry-ready skills such as AI, blockchain, and sustainable technologies, ensuring students are prepared for future job markets. Strengthening partnerships with global and regional stakeholders and ramping up funding for digital infrastructure, teacher training, and skill development will help address critical gaps in higher education and workforce readiness. 

13:06 IST, January 30th 2025

Kapil Bardeja, Co Founder & CEO, Vehant Technologies On Budget Expectations

From the Union budget, we are expecting the government to focus on infrastructure development and smart city initiatives, given that the pace of investment in AI-driven technologies is accelerating globally in security, surveillance, and efficiency. India is in an excellent position to take the lead in these areas, as AI will radically transform the key sectors, such as traffic management and public safety, through embracing smart technologies. Additionally, improved real-time data analysis, optimized management of traffic flow, and proper prediction of security threats would enhance the overall road safety & security framework of the nation.

Moreover, promoting 'Make in India' in tandem with AI could create a thriving innovation ecosystem, fostering manufacturing and tech entrepreneurship. This would not only reduce the dependency on imports but would enable the development of cutting-edge technology by local industries. India, with its strong pool of tech talent and proper investments, could become a global leader in AI and smart technologies. Critical investments in research and development at universities and research institutions will also drive breakthroughs in technology. These institutions are innovation hubs, and with adequate funding, they could lead the way in developing AI and other smart technologies.

12:37 IST, January 30th 2025

Rahul Paith - CEO - MATH On budget Expectations

DST MATH advocates for a strong focus on fostering innovation and growth within the AI and business ecosystem. AI is no longer just a technological advancement; it is a business imperative. As we approach Budget 2025, it is crucial to drive AI adoption across industries by incentivizing AI-powered innovation, streamlining regulatory frameworks, and fostering enterprise adoption. 

Access to high-quality data and a startup-friendly data policy will be key to training AI models, while access to critical physical infrastructure like GPUs is now essential. A policy-driven approach to AI will ensure India remains a competitive force in the global business landscape

12:36 IST, January 30th 2025

Anil Somani, Chairman of FOSTIIMA Business School- Delhi On Budget Expectations

With the Union Budget 2024 allocating Rs 1.48 lakh crore for education, employment, and skilling, we have welcomed a significant measure towards the upliftment of the students and professionals. As we are heading towards Union Budget 2025, we would expect the government to bring transformative change in higher education, particularly through the integration of Artificial Intelligence (AI) into advanced academic programs. By incorporating AI-driven modules into core programs, we can eliminate the need for supplementary certifications, thereby saving students time and money. 

Such integration ensures that future business leaders are equipped with cutting-edge skills aligned with industry demands, enhancing employability and innovation readiness. We would also like to see more investments in digital infrastructure to support AI-powered learning platforms, which would make education accessible and inclusive in all parts of the country. Other initiatives for faculty training in emerging technologies and public-private partnerships in AI education hubs can position India to the top in tech-driven innovation. Additionally, it would empower both students and professionals by making education ahead of international industry standards and producing a more future-ready and competitive global workforce

12:35 IST, January 30th 2025

Abhinav Govil, DGM – Marketing from CEID Consultants and Engineering On Budget Expectations

As India works towards its goal of achieving net zero emissions by 2047, we expect Budget 2025 to bring initiatives that will accelerate the green energy transition. The oil and gas sector has already taken significant strides in green hydrogen and compressed biogas (CBG) investments and sustained government support will play a pivotal role in building on this progress, driving further advancements. 

We hope the upcoming budget prioritizes enhanced investments in renewable energy and introduces a mandate for a minimum 20% substitution of fossil fuel imports with CBG. Also, establishing a structured framework for biomass aggregation, along with an MSP-like mechanism for agricultural residues, will not only create a steady supply chain but also offer significant benefits to the farming community.

Additionally, subsidies and policies encouraging municipal solid waste segregation are essential to attract private investments in dedicated segregation units while fostering a circular economy and reducing waste. At CEID Consultants, we believe that these measures can transform the bioenergy sector into a cornerstone of India’s sustainable future. A forward-looking budget that empowers the green energy ecosystem will be instrumental in achieving our climate goals and driving long-term economic and environmental benefits, added Mr. Govil.
 

12:34 IST, January 30th 2025

Bhupender Kumar Som, Director, GNIOT Institute Of Management Studies On Budget Expectations

The higher education sector has high expectations from this upcoming budget, and we are hopeful that there will be a strategic shift in prioritizing the transformation of India's higher education system. The government should present greater flexibility in education financing through increased allocations for student loans and decreasing rates on education loans, thereby making them accessible to aspiring students across the country. 

While the current budget is commendable in its focus on faculty development and research, we are hopeful that in the future, the higher scholarships for  students on tuition fees will be highly substantial and will benefit higher number students with professional education.

Additionally, the implementation of NEP 2020 is the other area in which the sector would look for more support. We expect more budgetary allocations to be made in the direction of creating multidisciplinary institutions and overall improvement of quality education. Above all, we urge the budget to introduce policies that make it much easier for foreign universities to open campuses in India and enable students to receive some of the best education in the world without the need to go abroad. 

By attracting foreign investment into the education sector, India can create a more dynamic, competitive academic environment that fosters innovation in research and development. International campuses will create new jobs in all fields, from academia to administration, and will enhance the quality of education and make India a learning destination for the world. By focusing on these key areas, this upcoming budget will help India to move toward a more inclusive, globally competitive, and skill-oriented education system, added Dr. Som.

 

10:54 IST, January 30th 2025

Kalpesh Ramoliya, MD of Raj Cooling Systems Home Appliances

Kalpesh Ramoliya, MD of Raj Cooling Systems Home Appliances, said, "As the consumer durables sector in India looks for strong growth of 11% CAGR to 2029, we expect the government to focus on such initiatives in the 2025 Budget to strengthen MSMEs that contribute to 45% of India's manufacturing output. Similarly, progressive reductions in GST should reduce tax compliance burdens and embrace technology through incentives like the PLI scheme. Investment in infrastructure through the National Infrastructure Pipeline will lower the cost of logistics for MSMEs and make them more competitive. 

We urge the government to encourage net-zero targets for 2070 in India by providing subsidies on energy-efficient technologies, tax incentives for sustainable practices, and funding for green initiatives. Policies such as the 'Atmanirbhar Bharat' initiative have empowered MSMEs, which, along with investment in skill development, primarily through the ₹8,000 crores that were allocated for skill training, ensured that the workforce is ready for the future said Mr. Kalpesh Ramoliya, MD of Raj Cooling Systems"

09:16 IST, January 30th 2025

Abhishek Raj, Founder & CEO of Jenika Ventures, On Budget 2025

"As we approach the 2025 Union Budget, the real estate sector, which contributes around 8% to India’s GDP, expects the government to bring measures to help sustain its growth trajectory. We urge the government to consider raising the tax deduction ceiling on home loan interest under Section 24(b) of the Income Tax Act from Rs 2 lakh to Rs 5 lakh, which would significantly benefit first-time homebuyers. 

Additionally, revising the affordable housing price cap in urban areas from ₹45 lakh to ₹75 lakh is critical, given the rising costs of land and construction. Granting real estate sector status would also unlock enhanced financing opportunities.

We strongly believe that incorporating these policies into the budget will not only strengthen the real estate industry but also contribute significantly to the nation’s economic expansion." says, Abhishek Raj, Founder & CEO of Jenika Ventures, real estate consultancy firm for luxury and residential properties.

09:15 IST, January 30th 2025

Sher Singh Rathore -Founder of BRIC-X INFRA PVT. LTD

Sher Singh Rathore -Founder of BRIC-X INFRA PVT. LTD, which provide data-driven solutions and comprehensive real estate services, said, "We expect the government to introduce measures to make home loans more accessible, especially to middle-income and first-time homebuyers as interest rates are stabilizing and inflationary pressures are expected to ease.

The sector expects direct support through rebates under income tax or reduced GST rates on residential properties further nudging home ownership.

Other critical expectation areas include encouraging eco-friendly and sustainable building practices. The Budget is expected to outline tax incentives to developers, incorporating eco-friendly technologies such as energy-efficient designs and materials. Simplifying regulating processes alongside incentives to redevelop old, underutilized properties would spur city regeneration and renewal.

We expect the 2025 Budget to continue with the initiatives from the previous year and to further continue creating an environment geared towards affordable housing and sustainable development as well as modernization in India’s real estate.”

07:48 IST, January 30th 2025

Rajeev Kr Gupta, MD, Thermocool Home Appliances LTD

Rajeev Kr Gupta, MD, Thermocool Home Appliances LTD provides home appliances solutions, “As the retail sector continues evolving according to changing consumer patterns and technology, the Union Budget 2025 should prioritize digital transformation, infrastructure development, and consumption facilitation. As the Indian retail environment increasingly turns to e-commerce, the sector awaits more regulatory clarity and support for online retail platforms. The industry is constantly looking for measures that would make e-commerce policies more streamlined, GST compliance easier, and offer tax incentives to small and medium retailers to adapt to digital tools, thus making them more efficient and reaching greater markets.

The retail sector heavily relies on logistics and supply chain networks, hence, it's likely to see infrastructure development investment, especially in areas such as last-mile delivery and warehousing. Measures under PM Gati Shakti are expected to further reduce transportation costs and make the supply chain more efficient, which will benefit both physical stores and online businesses.

For consumers, we anticipate an increase in tax exemptions or rebates for stimulating discretionary spending, especially on discretionary goods and services commonly used such as clothes, electronics, and home products.  Such consumption spending is vital for continuing retail growth, and targeted assistance to middle-income households is expected to significantly contribute to this.

Overall, the 2025 Budget is set to ensure further strengthening of the retail sector in India through digitalization, infrastructure, and consumer expenditure, laying the foundation for a resilient and competitive ecosystem that can thrive both in the physical and digital marketplaces.”

07:43 IST, January 30th 2025

Vikram Marwaha, Joint Managing Director, DRRK Foods

Vikram Marwaha, Joint Managing Director, DRRK Foods, a Basmati Rice Exporter, said, “We strongly urge the government to reduce corporate tax rates, which will provide financial flexibility to invest in advanced technologies, enhance production capabilities, and expand the market presence. 

Additionally, we hope the government will consider lowering personal income taxes or ensuring no additional burden on individuals. Increased disposable income in the hands of consumers plays a pivotal role in driving demand for quality products. A supportive tax structure not only boosts consumption but also encourages people to invest in healthier food choices, aligning with national health goals. 

A balanced budget that supports both corporate growth and consumer purchasing power will pave the way for sustained economic progress. We look forward to policies that foster a robust ecosystem for businesses and create value for consumers.”

07:41 IST, January 30th 2025

Amit Mittal, Founder and MD Chandpur Paper on Union Budget expecations

Amit Mittal, Founder and MD Chandpur Paper, a Paper Manufacturing Company, said, "As we look ahead to the upcoming 2025 Union Budget, we believe that the government will take all the important steps that will lead to the growth and sustainability of India's packaging industry. With an estimated growth of around USD 36.29 billion by 2032, the Indian packaging market is ready for significant changes after the amount of USD 22.8 billion marked in the year 2022.

To support this growth and foster innovation, it is essential that the government should give emphasis on initiatives that promote eco-friendly practices. A key step in this direction would be reducing the GST on raw materials for sustainable packaging solutions. This will help in the mass adoption of green packaging across industries, promoting sustainability and further growth in the sector. 

Additionally, the improvement of export incentives for the packaging industry will enable Indian manufacturers to increase their global market presence. Also, increasing the PLI scheme would also enhance the manufacturing capabilities of the industry and make it possible for higher production efficiency and quality standards.

By considering these strategic areas, the government can unlock the full potential of the packaging industry while securing long-term growth and ensuring it aligns with global environmental goals."

07:34 IST, January 30th 2025

Tashwinder Singh, CEO & MD at Niyogin Fintech On Budget 2025

Tashwinder Singh, CEO & MD at Niyogin Fintech Limited Neobank platform that is dedicated to serving MSMEs, 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."

Get the latest live news on Republic Business, along with breaking news and top headlines from Budget 2025, business, economy, markets, and around the world.

Published 07:38 IST, January 30th 2025