Industry Leaders From City Hail Union Budget 2025

In a series of reactions to finance minister Nirmala Sitharaman's Union Budget 2025 announcement on Saturday, industry leaders and business advocates hailed a raft of measures aimed at bolstering India's economic engine.

- HT Correspondent

PUNE:

The Maratha Chamber of Commerce Industries and Agriculture (MCCIA) sees the reforms as a significant boost to micro, small and medium enterprises (MSMEs) and startups—the very sectors that drive the country's manufacturing, exports, and employment.

MCCIA praised the new provisions that have been designed to benefit over 23 crore people employed by MSMEs, which contribute 36% to manufacturing and 45% to exports.

"The budget has introduced a new classification for MSMEs and raised the investment and turnover limits by 2.5 and 2 times, respectively. It expands the eligibility for more businesses to come under the MSME umbrella and benefit from various schemes," stated the release by MCCIA.

In addition, the budget's decision to increase the loan limit and guarantees for micro and small enterprises—from ₹5 crore to ₹10 crore—was also applauded. Officials noted that this move is set to improve access to affordable credit, benefiting millions of MSMEs across the country.

Startups too found reasons to celebrate. The budget extends the incorporation period for startups by an additional five years, now valid until 2030.

"The extension will provide startups with much-needed time to grow and establish themselves, fostering innovation and entrepreneurship," said MCCIA spokesperson.