Post Budget 2025 Reaction: Budget reaction from Kolkata Leaders
Harshavardhan Neotia, Chairman, Ambuja Neotia Group:
The budget proposals of finance minister Nirmala Sitharaman has provided the vision of a new India story, with a governance that is light touch and trusting, a regulatory regime that is encouraging for industry and policies that are focused on job creation.
The incentives for hotels, travel and tourism are really encouraging as it helps building hotels in key 50 destinations and allows benefits on funding from the infrastructure HML. The built-in collaboration with state governments in the design of the policy will help speed up these developments. There are many other boosters for the tourism eco-system in the budget proposals, including easing regulations on e-visa or providing more impetus to the Udaan Scheme, incentives to spiritual tourism and medical tourism.
Overall I see a growth and consumption oriented budget with more money left in the hands of the consumers through tax cuts which will help consumer oriented sectors.
Alok Garodia, Managing Director, Jupiter International
“Today’s Budget reinforces the government’s commitment to sustainable growth and clean technology manufacturing, with a decisive push for self-reliance in renewable energy through a new clean tech mission under Make in India. This initiative will be instrumental in building a strong domestic ecosystem for solar manufacturing, reducing import dependency, and positioning India as a global leader in renewable energy. Jupiter International fully supports this vision and remains committed to expanding solar manufacturing in alignment with the country’s clean energy goals.”
Mr. Pankaj Dhanuka CEO Fusion CX:
“The Union Budget 2025 truly marks a new dawn for ‘Viksit Bharat,’ and the focus on AI is particularly exciting. The allocation of ₹20,000 crore to drive investments of private sector into R&D as well as Rs.500 crore for Centers of Excellence in AI, in partnership with the private sector, is a game-changer. This demonstrates a clear commitment to driving innovation and positions India as a global leader in this transformative technology. Furthermore with special impetus on emergence of talent in Tier 2 cities the country’s status as a global super house of new-age talent is set to rise further. Overall the five levers of growth engine outlined in the Union Budget, position India well to solidify its hold as one of the world’s most formidable economies.”
Mr Mahesh Agarwal, Managing Director, Purti Realty
We, at Purti Realty, commend the government’s progressive stance in simplifying tax benefits for self-occupied properties in this year’s budget. The decision to allow the annual value of a self-occupied property to be considered nil, without stringent conditions, is a much-needed relief for homeowners. Additionally, raising the tax exemption limit to Rs 12 lakh empowers the middle class, the backbone of India’s housing market, by enhancing disposable income and encouraging homeownership. Furthermore, the government’s support to states with a Rs 1.5 lakh crore, 50-year, interest-free loan for capital expenditure and reforms will accelerate infrastructure growth. The launch of the Rs 10 lakh crore Asset Monetization Plan (2025-30) to reinvest in new projects reflects a strong commitment to long-term development. Additionally, the Rs 1 lakh crore Urban Challenge Fund for ‘Cities as Growth Hubs,’ ‘Creative Redevelopment of Cities,’ and ‘Water & Sanitation’ will foster urban transformation and improve quality of life.
