Thursday, February 6, 2025

Wipro, Spice Money, DS Group React to Union Budget 2025- 26

On February 1, 2025, honorable Finance Minister Smt. Nirmala Sitharaman has presented the union budget 2025- 26.

The Union Budget 2025-26 focuses on growth and inclusivity, with key measures aimed at benefiting the middle class, agriculture, MSMEs, and various sectors.

Income tax relief is provided, with no tax on monthly incomes up to ₹1 lakh and salaried individuals paying no tax up to ₹12.75 lakh annually under the new tax regime.

The ‘Prime Minister Dhan-Dhaanya Krishi Yojana’ will support 1.7 crore farmers across 100 low-productivity districts.

MSMEs will see a significant credit boost, with a credit guarantee cover increased from ₹5 crore to ₹10 crore.

The fiscal deficit is projected at 4.8% for FY25, with a target of 4.4% in FY26.

A ₹1 lakh crore Urban Challenge Fund will support cities as growth hubs, while ₹15,000 crore is allocated for the completion of stressed housing units.

Initiatives like the Atal Tinkering Labs, AI Centre of Excellence, and a ₹20,000 crore nuclear energy fund underline the focus on innovation and development.

Wipro, Spice Money, DS Group, and many other companies have shared their perspectives on the Union Budget 2025-26, highlighting key expectations and the potential impact on their respective industries. The reactions are as below-

Aparna Iyer, CFO, Wipro Limited

Commenting on Union Budget, Aparna said, “The Union Budget prioritizes economic progress by placing a strong emphasis on tax reforms, fostering innovation, and skills development, without losing sight of the fiscal deficit target.

With AI becoming an essential tool for a tech-powered economy, it is heartening to see the introduction of Centers of Excellence (COE) for Artificial Intelligence in education. To position India as a leader in the global AI race, it is imperative to prioritize investment in STEM talent.” She added

Aparna further said, “We also have the digital infrastructure, and the talent pool required to cultivate a thriving startup ecosystem capable of propelling innovation. To unleash this potential, it is also important to offer financial support and streamline the process of conducting business to bolster the startup community. The Fund of Funds for Startups (FFS) will provide the impetus to boost this ecosystem.

She added, “Rationalization of tax rate for middle class will also help in improving domestic consumption and household savings and it’s a welcome move. The budget has also continued its efforts towards improving ease of doing business through multiples measures such as rationalization of TDS and TCS compliances, changes to Transfer pricing assessments etc..

By prioritizing these key areas, India can solidify its position as a frontrunner in the global economy and harness the full potential of technological advancements and we commend the Government’s efforts in this direction.” She further added.

Dilip Modi, Founder & CEO, Spice Money

Reacting on the union budget 2025- 26 Dilip Modi said, “We commend the government’s strong focus on the holistic development of rural India in the Union Budget 2025-26. The initiative to transform India Post into a public logistics organisation is a significant step toward strengthening rural commerce and boosting entrepreneurship opportunities.

With 1.5 lakh rural post offices and 2.4 lakh Dak Sevaks, this initiative will serve the needs of women entrepreneurs, self-help groups, MSMEs, and even large businesses. The presence of Dak Sevaks at the last mile will play a crucial role in driving employment-led growth and ensuring seamless access to financial and logistical services for underserved communities.” He added

Modi further said “The launch of customized credit cards with a INR 5 lakh limit for micro-enterprises and a new scheme providing term loans of up to INR 2 crore for first-time women entrepreneurs from underrepresented communities will be game changers in promoting financial inclusion and inclusive development. These initiatives, along with support for MSMEs and investment in innovation, will drive grassroots entrepreneurship and economic resilience.

At Spice Money, our focus has always been on empowering rural India on the back of our extensive network of 14 lakh digital nanopreneurs (Spice Money Adhikaris), bringing essential banking services closer to the underserved. We believe that public-private partnerships are key to solving the challenges of rural India and accelerating job creation. By collaborating with the government and harnessing technology, we can build a truly inclusive and self-reliant Bharat.” Modi added.

R P Yadav, Chairman & Managing Director, Genius Consultants Limited

Talking to SightsIn Plus RP Yadav said, “The Union Budget 2025 has taken significant strides toward strengthening India’s workforce and employment landscape. The government’s continued focus on skill development, job creation, and digital transformation is a step in the right direction, ensuring a future-ready workforce equipped for emerging industry demands.”

“The push for MSMEs, startups, and manufacturing through tax incentives and financial support will generate new employment opportunities, creating a ripple effect across various sectors. Additionally, increased allocation for skilling initiatives, particularly in AI, automation, and green technologies, will help bridge the talent gap and enhance employability.” Yadav added.

Yadav further said, “Labour reforms and policies promoting gig and platform workers are commendable, as they recognize the evolving nature of work and ensure a more inclusive job market. The government’s focus on boosting women’s participation in the workforce through targeted programs is another positive move that will contribute to economic growth.”

“With initiatives aimed at ease of doing business and digital workforce solutions, hiring processes will become more seamless and efficient. Overall, the budget is well-balanced, addressing both immediate and long-term employment needs. We are optimistic that these measures will drive workforce growth, foster innovation, and strengthen India’s position as a global talent hub.” He added.

Rajiv Kumar Vice Chairman DS Group 

Commenting on Budget Rajiv Kumar said, “With the Union Budget 2025-2026, the Government has taken strides towards realizing the Viksit Bharat vision by 2047. The agenda laid out by the FM will address and uplift several economic and social reforms in India.”

“The forgoing of ₹1 lakh crore in direct taxes and full tax exemption up to ₹12 lakh income under the new regime is expected to boost consumer spending, benefiting sectors such as FMCG, automobiles, and retail. The middle class and salaried professionals will have more disposable income, driving demand in these areas.” he added.

He further said, “It is a balanced budget for corporates as well as individuals and will have a multi-year effect going forward, supporting overall growth and encouraging inclusive development and private investment. Emphasis on digital infrastructure and connectivity enhancement is another key positive. Increasing foreign direct investment (FDI) in the insurance sector from 74% to 100% will boost the sector’s growth by stimulating investment across the board.”

Pallavi Jha, Chairperson & MD, Walchand PeopleFirst and Dale Carnegie India

Speaking to SightsIn Plus Pallavi said, “The FY25 Union Budget focuses ambitiously on energy, skilling, and employment, with a ₹500 crore allocation for Centres of Excellence to address rising unemployment.

“However, this funding remains insufficient to meet the needs of India’s large demographic dividend. The sluggish uptake of existing programs like the PM Internship Scheme highlights the critical need for structural reforms to drive implementation, and quality assurance and prevent creating another layer of mediocre training providers,” She added

She further added, “While the focus on agriculture and manufacturing aligns with India’s long-term growth imperatives, these interventions risk becoming short-term electoral gestures rather than solutions to deep-rooted structural challenges.”


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