Union Budget 2025 | Expecting targeted reforms in retail, new policies in IT sector, says TeamLease Digital CEO Neeti Sharma

The retail sector is looking to the government for targeted reforms that can drive consumption and economic resilience, she said.

The upcoming Union Budget 2025 is expected to be presented by the Finance Minister on February 1 as it has been the tradition since 2017. With the Budget presentation just a few days away, stakeholders in IT and retail sector are looking forward to some targeted reforms and innovation.

Speaking on Budget 2025 expectations for the retail sector, Neeti Sharma, CEO, TeamLease Digital, said, "The retail sector is looking to the government for targeted reforms that can drive consumption and economic resilience. Key measures such as low-interest financing, tax relief, and an accelerated rollout of the National Retail Policy are expected to address structural gaps and enhance ease of doing business. These changes will foster growth and formalisation within the sector, while boosting consumer sentiment. Additionally, extending MSME benefits to retail and wholesale traders, alongside recognizing the F&B retail sector as an essential service, will be pivotal in supporting broader economic objectives and strengthening sectoral growth."

Sharma expressing her views on the IT sector said, "The IT sector has high pre-budget expectations centered on policies that drive innovation, growth, and job creation. Industry leaders anticipate incentives for adopting emerging technologies like AI, quantum computing, and blockchain, alongside tax relief for R&D investments. Strengthened support for skilling programs, particularly in AI and cybersecurity, is crucial to bridging talent gaps. Expanding digital infrastructure, promoting startups, and incentivizing global delivery models could position India as a tech innovation hub. The sector also seeks clarity on data privacy regulations and tax structures, ensuring ease of business and competitiveness. A tech-forward budget could catalyze the sector's role in economic growth."

"As we look to the Union Budget 2025-26, the IT industry anticipates measures to further strengthen India's digital infrastructure, particularly through tax concessions for the data centre sector. Given the critical role data centres play in enabling digital services and advancing the 'Digital India' vision, such incentives will not only attract foreign investments but also generate employment and fuel a new growth trajectory for the sector. These reforms will position India as a global leader in digital infrastructure, driving innovation and economic progress," she added.