Budget 2025 Expectations|Require sustained support for R&D, innovation, and skill development in AI and robotics, says Addverb co-founder Satish Shukla

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.

The manufacturing 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.

Here's what Satish Shukla, co-founder, Addverb has to say--

"Given that India is becoming a major hub for manufacturing worldwide, we expect robust policy initiatives that will fuel innovation and strengthen India's place in the global supply chain. Initiatives like "Make in India" have also greatly increased manufacturing across industries, investments, and exports. 

We anticipate further programs and initiatives to support the development of a highly trained workforce required to accelerate the adoption of industrial automation. Furthermore, maintaining competitiveness in the global market will also require sustained support for R&D, innovation, and skill development, particularly for industries like robots and artificial intelligence.

Increased investment and PLI schemes can further bolster the overall growth of the manufacturing industry, driven by automation and technology solutions. A right policy environment can help accelerate adoption of newer technologies like robotics and automation, which can not only create more job opportunities but also ensure India’s leadership on the global industrial revolution."

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.