Union Budget 2025 Reactions | 'Reforms such as liberalising 100% FDI in insurance business will go a long way,' says Sadaf Sayeed, CEO of Muthoot Microfin Ltd

'Excellent budget with focus on very important sectors of the economy, like MSMEs, infrastructure, agriculture and most importantly rationalising taxes to promote saving, investment and consumption-led growth,' Sayeed said.

Finance Minister Nirmala Sitharaman tabled the much anticipated Union Budget for FY 2025-26 on February 1, which also marked a record 8th Budget presentation for the 65-year-old. In a major relief to the middle class, Sitharaman announced that there would not be any tax liability on income upto Rs 12 lakh for salaried persons under the new tax regime and raised the basic exemption from Rs 2.5 lakh to Rs 4 lakh.

Speaking on this front, Sadaf Sayeed, CEO of Muthoot Microfin Limited, said, "Excellent budget with focus on very important sectors of the economy, like MSMEs, infrastructure, agriculture and most importantly rationalising taxes to promote saving, investment and consumption-led growth."

"Reforms such as liberalising 100 per cent FDI in the insurance business will go a long way in improving the sentiments among foreign investors and attracting investments into India."

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.