Union Budget 2025 Reactions | Drives sustainable growth across sectors: Umesh Revankar, Executive Vice Chairman, Shriram Finance

'Targeted initiatives like the Developing Agri Districts Programme and KCC Mission for Cotton Productivity will empower 1.7 crore farmers in 100 districts by improving yields, fostering FPOs, and ensuring climate resilience,' he said.

Finance Minister Nirmala Sitharaman on Saturday presented her historic eighth consecutive Budget, and the second one of the Narendra Modi 3.0 government.

It has been generally lauded by NDA allies.

Reacting to the Budget, Umesh Revankar, Executive Vice Chairman, Shriram Finance said "The Union Budget drives sustainable growth across sectors, emphasizing inclusive development for Garib, Yuva, Annadata, and Nari."

Highlighting the government's stance, he continued "Agriculture, the first growth engine, receives a major boost with the Prime Minister Dhan-Dhaanya Krishi Yojana. Targeted initiatives like the Developing Agri Districts Programme and KCC Mission for Cotton Productivity will empower 1.7 crore farmers in 100 districts by improving yields, fostering FPOs, and ensuring climate resilience," observing that "This will enhance productivity, rural incomes, and self-sufficiency in food production while building resilience in farming communities."

Revankar added "The rural economy is further strengthened by enhanced support for agriculture and development, creating widespread prosperity. Meanwhile, the MSME sector, crucial for employment and manufacturing, receives a significant push to drive economic expansion and establish India on a new growth trajectory."

He also said "Education and skill development are prioritized, with initiatives like the Bharatiya Bhasha Pustak Scheme and five National Centres of Excellence preparing youth for a global manufacturing landscape. The removal of TCS on education loans abroad eases access to international learning opportunities."

Elsewhere, commenting on the income tax changes, he said "The big bonus for middle class in the form of tax slabs changes are going to help in improving consumption which would be a major booster for private capex and can change the nature of investments and participation in boosting economic activity."

The Executive Vice Chairman of Shriram Finance concluded "In essence, the budget lays a strong foundation for economic resilience by fostering inclusive growth, supporting rural livelihoods, and equipping India for a competitive global future."

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Union Budget 2025 | Nirmala Sitharaman, as Finance Minister, presented her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', the Modi govt gave income tax relief for those making up to Rs 12 lakh per year in salaried income. 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.