Union Budget 2025 Reactions | Reiterated commitment to fiscal prudence: Debadatta Chand, Managing Director & CEO, Bank of Baroda

'There is boost to the corporate bond market including municipal bonds which will have a big role to play in financing investment required in the coming years,' he observed.

Finance Minister Nirmala Sitharaman on Saturday presented a historic eighth consecutive Budget -- one that has been lauded by NDA allies, and is the second Budget in the Narendra Modi 3.0 government.

The first came after the Lok Sabha elections, last year.

Reacting to the Budget, Debadatta Chand, Managing Director & CEO, Bank of Baroda hailed it as one showing 'commitment to fiscal prudence'.

"The Budget has reiterated its commitment to fiscal prudence by moving along the FRBM path. From the point of banks, the focus on growth is positive, as this would mean steady growth in credit as the budget has provided the necessary push to MSMEs and industry," he said.

Chand added, "There is boost to the corporate bond market including municipal bonds which will have a big role to play in financing investment required in the coming years. The concessions on the income tax front will put more money in the hands of taxpayers and would boost consumption in the economy. The capital expenditure of Rs 11.2 lakh crore announced will encourage investment and also help backward linkages to sectors like steel, cement, machinery etc."

He continued, "Working on the PPP mode across ministries to implement various projects is very progressive and will boost infrastructure capacity in the country."

The Bank of Baroda CEO also observed "The budget has also taken a medium term view for the next five years to move faster to the goal of Viksit Bharat and focussed on four major sectors – Agriculture, MSMEs, Investment and Exports thus covering both the objectives of inclusive and accelerating growth to higher levels."

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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.