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    HomeLatest NewsBudget Announcements to have Cascading and Net Positive Effect on Industry: Sachin...

    Budget Announcements to have Cascading and Net Positive Effect on Industry: Sachin Tayal

    The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman in Parliament, has been widely lauded by industry leaders for its focus on boosting domestic consumption, manufacturing, and exports while maintaining fiscal discipline. Among its many highlights, the budget prioritizes infrastructure development, digitalization, and simplified taxation to propel economic growth.

    “The budget gets a lot of proposals right on the mark against the overarching goal of boosting domestic consumption and consumer demand, manufacturing and exports, while keeping the fiscal deficit well in control. The high allocation for capital expenditure particularly in infrastructure is retained and will not only boost the GDP for the next fiscal but also will have a cascading and net positive effect on rest of the industry,” said Sachin Tayal, Managing Director, Protiviti Member Firm for India.

    Tayal also lauded the Government for expansive reforms in taxation, governance, education, healthcare, and trade that are expected to enhance accessibility for citizens and businesses. “We welcome the expansive digitalization initiatives across taxation, governance, education, healthcare, infrastructure, and international trade as they will make the government more accessible to citizens and businesses alike. The corporate sector has a lot to cheer from the proposed reforms in energy, urban development, and financial sectors, as well as new opportunities for their participation in India’s infrastructure development. The technology services sector is also set to expand with the introduction of a national framework supporting the rapid growth of Global Capability Centres (GCCs) in tier-II cities, emphasizing talent development and infrastructure enhancement,” he said.

    He further added: “Finally, the headline proposals including significant reductions in income taxes and the simplification of TDS, TCS, and related tax compliances will no doubt go a long way in uplifting the consumer sentiment and enhancing spending power, arguably the most important requirement for Indian economy at this juncture.”

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