Budget Will Lead To Sustainable Growth, Says AP Chambers

Visakhapatnam: AP Chambers, Visakhapatnam Chapter has lauded the Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, for its focus on stimulating consumption, promoting sustainable growth, and fostering business-friendly policies.

In reaction, Srinath Chittoori, chairman of the Visakhapatnam Zone, hailed the budget's provisions aimed at consumption-driven growth, emphasizing the rationalisation of personal tax slabs, which is expected to boost consumer spending.The budget's focus on Ease of Doing Business, agriculture, MSMEs, and healthcare has also been commended. Rs25,000 crore Maritime Development Fund, aimed at enhancing India's shipbuilding capacity and global competitiveness, is a notable highlight, he pointed out.

Executive committee member Sudhir Mulagada praised the Finance Minister for presenting a historic budget, marking a significant revision in personal income tax slabs for the first time in over 20 years. Former president of AP Chambers Pydah Krishna Prasad described the budget as forward-thinking, with substantial benefits for the middle class and rural development.

He lauded the income tax reductions, which will increase purchasing power and stimulate demand, driving GDP growth. The increased investment limits for MSMEs and the rise in FDI in the insurance sector are also expected to enhance competition and make insurance more accessible. Overall, the AP Chambers views the Budget as a strategic step towards long-term economic growth, with a strong emphasis on business development and social welfare.