Budget 2025: Uday Kotak, Harsh Goenka, Anil Agarwal—Top Industrialists Reactions
Uday Kotak called the tax benefits as 'tax sweetener for the middle class' on his X profile.
The Union Budget 2025 was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Saturday, following which there were a plethora of reactions from the top industrialists of India Inc's.
Uday Kotak called the tax benefits a 'tax sweetener for the middle class' on his X profile.
"A budget for steady fiscal consolidation. A tax sweetener for the middle class should help consumption. Welcome steps to improve ease of doing business," he wrote following the budget announcement.
"India does a 'shahi snan,' cleansing itself from structural issues and transforming towards a truly Viksit Bharat," wrote RPG Group Chief Harsh Goenka on his X profile.
"Just like the men in blue, FM Sitharaman has announced a Champions budget that Deep(ly) Seeks to institute structural reforms, Trumps consumption woes, putting money in the hands of middle class," he said.
Vedanta Group Chairman, Anil Agarwal, said that the budget has hit the perfect note. "I am delighted that mining is one of the 6 domains identified for transformational reforms over the next 5 years," he wrote on his X profile.
"Along with mining, agriculture is also a priority, particularly with the goal of achieving self-sufficiency in areas like edible oils. Mining, agriculture, and manufacturing (including electronics, which is a thrust area for the government) can all help increase domestic production, reduce imports and create millions of good jobs in India," he further shared.
Agarwal highlighted that the budget has hit the perfect note. providing great relief to the middle class by making incomes up to Rs 12 lakh per annum completely tax-free.
"This is the biggest section of the middle class. It has also significantly reduced the tax burden for incomes up to Rs 24 lakh. We have made a decisive move to a world-class tax system, which will be simple, transparent and friendly to taxpayers," he wrote on his X profile.
"The spirit of tax reform is going to be seen in other parts of the economy with trust and self-certification at the core. This will provide a very big boost to manufacturing and mining," he said.
The Union Budget 2025 has outlined various great initiatives to further develop a future-ready travel ecosystem, with emphasis on people and infrastructure, and aviation as a key enabler, said InterGlobe Aviation's Chief Executive Officer Pieter Elbers.
"Investment in developing world-class airports, enhancing regional connectivity, capacity upgrades, procedures, regulatory framework and streamlined visa facilities, will all play critical role in bringing this vision of developing India into a global aviation hub to life," Elbers said.
Budget provides more money in the hands of the middle class which will help boost consumption, Sajjan Jindal said in a post on X. "A change in tax slabs is a welcome step," he added.
Dr. Reddy's Laboratories Ltd.'s Chairman Satish Reddy said that the budget takes strong steps toward nation-building through structural reforms such as investment in technology and infrastructure, simplification of tax slabs and duties, among others, according to a PTI report.
"The budget has also provided for resilience in the country’s healthcare infrastructure through cancer day centres, medical education, further customs duty exemptions for life-saving drugs, and encouragement for medical tourism and Heal in India," PTI reported quoting Reddy as saying in a statement.
