The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, has garnered widespread acclaim from industrialists and entrepreneurs across various sectors. The budget's focus on enhancing middle-class spending power, promoting inclusive development, and encouraging private investment has been particularly well-received.

Key Highlights:

Income Tax Reforms: The budget proposes raising the nil tax slab threshold to ₹1.2 million annually and recalibrating tax slabs and rates. The maximum tax rate of 30% now applies to incomes of ₹2.4 million and above under the new tax regime. These measures aim to boost consumer demand by increasing disposable incomes. 

Support for MSMEs: The introduction of a new scheme to facilitate term loans for MSMEs in manufacturing, enabling the purchase of machinery and equipment without collateral and guarantee, is a significant boost for the sector. This move is expected to enhance productivity and competitiveness among small and medium enterprises. 

Infrastructure Development: The allocation of ₹11 lakh crore for infrastructure and improvements in water supply and waste management in 100 large cities is anticipated to enhance connectivity and urban amenities. This investment is expected to generate numerous job opportunities and bolster overall economic growth. 

Skill Development and Education: The budget's focus on skill development, with substantial investments aimed at revamping the education system, has been lauded by educationists. The provision for 1 crore youth to gain industry experience through internships with leading companies is expected to bridge the gap between theory and practice, laying a solid foundation for sustainable growth and innovation. 

Gems and Jewellery Sector: The reduction in import duties on gold and silver to 6% and on platinum to 6.4% is anticipated to enhance affordability for consumers and competitiveness for the manufacturing sector. The introduction of the safe harbour rule on the sale of rough diamonds at special notified zones is expected to establish India as a global rough diamond trading hub. 

Industry leaders have expressed optimism that these measures will stimulate economic growth, increase consumer demand, and create new business opportunities across various sectors. The budget's balanced approach to strengthening rural infrastructure, manufacturing, and consumer spending has been particularly praised. 

Overall, the Union Budget 2025-26 is seen as a transformative step towards achieving sustainable economic development and positioning India as a global economic powerhouse.