Budget 2025 Expectations | Defence sector anticipating focus on modernization, 'Aatmanirbharta', says Captain Nikunj Parashar

The defence sector has pinned high hopes on the Union Budget FY 2025-26 documents and is keeping its fingers crossed regarding their expectations from the government's most important financial document of the year.

Finance Minister Nirmala Sitharaman will present the 8th consecutive Union Budget on February 1, 2025. Reports suggest that the government is mulling over cutting income tax for those who are earning up to Rs 15 lakh a year in February's budget, in turn providing relief to the middle class.

Various experts from different sectors have put forth their expectations from the Budget for their industry. Speaking on behalf of the defence sector, Captain Nikunj Parashar, founder of Sagar Defence Engineering, said, "As the Hon’ble Union Finance Minister Shri Nirmala Sitharaman Ji has highlighted that 2025 will be a pivotal year for significant policy measures aimed at driving India's economic growth, the year is being observed as the 'Year of Reforms,' reflecting the government’s commitment to implementing reforms that can strengthen the economy and create sustainable growth."

"We anticipate a key focus on enhancing military modernization and boosting Aatmanirbharta (self-reliance) in defence, a critical area for national security," he said.

"As the nation continues to invest in its defence sector, there is anticipation for increased allocations for innovation and research to support advanced technologies, fostering a robust defense manufacturing ecosystem and new initiatives contributing to the sector," he added.

"We look forward to the 2025 Budget aligning with the nation’s goals of strengthening its defence capabilities while fostering economic growth and innovation," Captain Parashar said.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.