NE BUSINESS BUREAU
AHMEDABAD, MUMBAI, JAN 31
Finance Minister Nirmala Sitharaman will be making history tomorrow as the first FM to present eight union budgets in a row. The previous record was held by Morarji Desai who presented six consecutive budgets. This will be the second full budget of Modi 3.0.
As India aspires to establish itself as a global leader in science & technology, education, sports, and innovation, the forthcoming Union Budget represents a pivotal opportunity to accelerate transformative progress across these critical sectors. Experts suggest that Finance Minister Nirmala Sitharaman’s Budget 2025 could provide a critical opportunity for the government to build on its progress in all sectors. They expect that it will lay the roadmap for the economy and its various sectors.
Close the infra gap in rural educational institutions: Dr. Manjula Pooja Shroff, MD & CEO of Kalorex Group
“The education fraternity has high expectations from the upcoming Union Budget, particularly in light of the National Education Policy (NEP) 2020. There is a need to increase allocation of funds to bridge the infrastructure gap in educational institutions, especially in rural areas. There is also a need to enhance investment in teacher training, digital learning tools, and EdTech to improve the quality of education and to ensure teaching is in sync with the evolving world. We expect greater financial support for research and innovation and skill development initiatives to align education with industry needs. The FM should also prioritise equitable access, quality improvement and support the modernisation of the education system. Mental health and well-being are important aspects of holistic development of children and we look forward to allocations for mental healthcare and training centres in the upcoming budget.”
Expand PLI subsidies to include impact firms working in agri and grassroots sectors: Seema Prem, co-founder & CEO, FIA Global
“Expand PLI subsidies to include impact firms working in agriculture and grassroots sectors, alongside the creation of a Financial Inclusion Fund and Rural Ventures and Impact (RVI) Fund for capacity building, as it will strengthen the BC ecosystem. Address liquidity challenges by establishing a dedicated fund for last mile BCs through NABARD and RBI. Prioritize climate-resilient financial products, such as tailored livelihood insurance, to mitigate risks from climate disruptions affecting vulnerable communities. GST of 5% overall especially for firms working in rural ecosystems.”
Foster innovation, and enhance financial inclusion: Alok Agarwal. MD & CEO, Zurich Kotak General Insurance Company (India) Limited
“In the upcoming Union Budget, we hope to see measures that facilitate greater insurance penetration, foster innovation, and enhance financial inclusion. Such initiatives can contribute meaningfully to economic resilience and the well-being of citizens”.
