Rs 50.65L cr India Budget To Boost Entrepreneurship, Innovation, Investments

New Delhi: The focus on public-private partnerships (PPP) in infrastructure, along with 50-year interest-free loans for state projects, is expected to create a multiplier effect not only boosting India’s GDP but also strengthening the states’ economy, leading industry chamber PHDCCI’s President Hemant Jain said on Monday.

India is rapidly positioning itself as a global economic powerhouse, with ongoing reforms and initiatives attracting investments and fostering innovation.

With a historic high of Rs50.65 lakh crore, the Union Budget prioritises agriculture, the middle class, manufacturing, MSMEs, women empowerment and job creation.

PHDCCI projects that the Budget’s strategic focus will contribute over 1 per cent (100 bps) to India’s GDP growth in 2025-26, creating lakhs of new employment opportunities in the country

“The increased budget allocation is set to foster substantial growth across various sectors. A significant reform in income tax, including the exemption for incomes up to Rs12 lakh and a 30 per cent tax rate on incomes above Rs24 lakh, will stimulate consumption demand and expand industrial production,” Jain said.

The rise in disposable incomes will drive consumer spending, subsequently encouraging businesses to scale operations, increase investments, and expand production.

The Dhan Dhanya Krishi Yojna, benefiting 1.7 crore farmers in 100 districts, will significantly boost rural development, agricultural productivity, and farm incomes.