Union Budget 2025 Reactions | Rightly termed as 'consumption-driven': Arvind Kapil, MD & CEO, Poonawalla Fincorp

'Rightly termed a ‘consumption-driven budget,’ it aims to accelerate economic growth through multiple engines, with private consumption at its core,' he said.

Finance Minister Nirmala Sitharaman on Saturday presented a historic eighth consecutive Budget, which was also the second Budget of the Narendra Modi 3.0 government.

The Budget included measures to improve ease of doing business among other things. Reacting to the Budget -- which the NDA allies lauded -- Arvind Kapil, MD & CEO, Poonawalla Fincorp said "The Budget thoughtfully reflects the current phase of our nation’s journey. It strikes the right chord by focusing on the two pillars that form the backbone of India’s economy—the middle class and the MSME sector."

He continued, "This is going to be a significant step giving a major positive to retail lending and msme finance."

Kapil added "Rightly termed a ‘consumption-driven budget,’ it aims to accelerate economic growth through multiple engines, with private consumption at its core. The great Indian middle class is the key driver here. Meaningful tax relief will boost disposable income, fueling both consumption and investments."

He also observed "A standout feature is the revamped MSME framework, designed to empower over 1 crore MSMEs to scale operations, embrace technology, and generate employment for India’s youth. This Budget sets the stage for a vibrant, self-reliant India powered by consumption, innovation, and job creation."

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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.