Central budget statement: Industry welcomes it.
Tamil Nadu: The industry has welcomed the Central Government’s budget statement.
Dheeraj Hinduja (Chairman, Ashok Leyland): The increased allocation of funds for the development of infrastructure, manufacturing, and defense sectors has accelerated the country’s economic growth. The budget also supports key sectors including Artificial Intelligence (AI), healthcare, education, and agriculture.
A.R. Unnikrishnan (President, CII Tamil Nadu Council): States, including Tamil Nadu, will benefit from the total public capital expenditure allocation of ₹12.2 lakh crore announced in the budget.
The project to revitalize 200 traditional industrial clusters for technological development, competitiveness, and improved efficiency is beneficial. ₹20,000 crore has been allocated for carbon capture, utilization, and storage technologies. This will benefit cement and chemical companies in Tamil Nadu. Support has been extended to new National Design Institutes to be set up in 5 university towns at major industrial freight terminals.
P. Ravichandran (CII, Southern Region Vice President): With an emphasis on development, increased funds have been allocated and focus has been placed on construction, high-speed transport, freight transport, waterways, etc. This will lead to increased construction facilities and employment. This will also be beneficial for the country’s development.
The Industrial Development Promotion Scheme has been extended, and this year, a strategic focus has been placed on 7 sectors to manufacture more products under the ‘Make in India’ scheme. The launch of Semiconductor 2.0 and the announcements regarding the manufacturing of various types of consumer electronics and defense equipment in India are welcome.
Ponnusamy (President, MSME): To further strengthen access to liquidity for textile MSMEs, key measures have been announced to improve the efficiency of the Trade Receivables Discounting System. The Union Finance Minister has addressed the capital crunch by providing separate support to micro-enterprises and providing ₹2,000 crore through the Atmanirbhar Bharat Fund. Chandramohan (Director, TAFE): The Finance Minister has proposed a multilingual AI tool, a virtual integrated system, to improve access to agricultural resources. This will integrate the ICAR package of practices and the AgriStock network with the AI system. This will enhance agricultural productivity and provide farmers with advice to make better decisions and mitigate risks.
Ramkumar Shankar (President, Chennai Chamber of Commerce and Industry): The budget focuses on micro, small, and medium enterprises, education, and skill development. The simplification of taxes and the support given to essential service sectors like health, education, and tourism have given a significant boost to the industry.
Rajesh Rokade (President, All India Gems and Jewellery Domestic Council): The financial statement reflects a sustainable and ethical approach in the gems and jewelry sector. No increase in customs duty or GST, and support for ease of doing business for MSMEs, instills confidence in the business community.
Vinod Francis (Chief Financial Officer, South Indian Bank): Controlling the fiscal deficit to 4.3 percent of GDP while simultaneously increasing capital expenditure to ₹12.2 lakh crore demonstrates the government’s commitment to infrastructure development and economic stability.
Ajay Kumar Srivastava (Managing Director & Chief Executive Officer, Indian Overseas Bank): The budget provides a clear roadmap for inclusive growth across all sectors, ensuring a balance between industrial development and job creation. The budget is built on three core commitments: accelerating growth, enhancing skills, and enabling participation from all towards the goal of a ‘Developed India’.
