The upcoming 2025 budget holds significant importance for sustaining India’s economic momentum, with a projected GDP growth of 6.3% to 6.8% in fiscal year 2026. Prof Vishwanathan Iyer, Professor of Finance at Great Lakes Institute of Management, Chennai, emphasizes the need for a push toward manufacturing, infrastructure, and digital transformation to increase productivity and job creation. Investment in small and medium-sized enterprises, skill development, and AI-driven innovation will be crucial for India’s continued economic growth.
Dr. Vikas Prakash, Director of PGPM & Professor at Great Lakes Institute of Management, Gurgaon, commends the projected GDP growth rate and highlights the importance of deregulation in the economic survey. He stresses the need for the private sector to contribute more to investment and suggests initiatives to promote ease of doing business at the state level. The budget should focus on rationalizing incentives for MSMEs and large-scale companies to stimulate growth.
On the education sector, Dr. Jones from Great Lakes Institute of Management, Gurgaon, expresses concerns about last year’s budget, which lacked support for scholarships, student aid programs, and interest subsidies on student loans. He calls for increased funding for education to bridge the gap between India’s education spending and that of developed countries. He expects the 2025-26 budget to allocate more funds for digital learning, skills development, technical education, and research and development.
Aditi Nayar, Chief Economist at ICRA Limited, provides insights on the core sector growth, highlighting the need for moderation in industrial production growth. Sourabh Deorah, CEO of AdvantageClub.ai, calls for tax relief for salaried employees in the upcoming budget to address financial stress and cater to evolving needs.
Spokespersons from various industries share their expectations for the 2025-26 budget. They emphasize the importance of expanding the Production-Linked Incentive scheme, reducing GST rates, and promoting investments in technology-driven solutions for sectors like manufacturing, retail, and AI. The healthcare, real estate, ESG, and insurance sectors also stress the need for targeted investments and policy support in the upcoming budget to drive growth and sustainability in their respective industries.