JAMMU/ NEW DELHI: As the countdown to the Union Budget 2025-26 intensifies, various sectors are voicing their expectations, hoping for measures that will bolster growth and address pressing challenges. The budget, set to be presented by Finance Minister Nirmala Sitharaman on February 1, is seen as a pivotal moment for India's economic trajectory, especially in light of the ongoing global economic uncertainties.
Fintech and Health Insurance Insights
In the fintech sector, Mr. Anshul Khurana, Co-founder and CEO of Entitled Solutions, emphasizes three critical areas: enhancing **financial inclusion**, recognizing **gig workers** under labor codes, and improving **healthcare access** for urban low-income households. He advocates for regulatory stability that supports partnerships between non-banking financial companies (NBFCs) and fintech firms, alongside initiatives to remove GST on health insurance and expand coverage under programs like Ayushman Bharat. These measures could significantly improve access to credit and essential healthcare services for vulnerable populations.
Agricultural Machinery Expectations
From the agricultural machinery perspective, Mr. Vasu Naren, Chairman & Managing Director of Sona Machinery, highlights the need for modernization incentives in the rice milling industry. He calls for subsidies and tax exemptions to facilitate the adoption of energy-efficient technologies that enhance productivity and reduce waste. Moreover, he stresses the importance of integrating rice milling outputs into ethanol production, which could create new revenue streams while supporting India's energy goals.
Gaming Industry Aspirations
In the gaming sector, Kunal Patni, Executive Director and Country Head of Natural8 India, urges the government to focus on skill development through incentives and training programs. He advocates for a clear regulatory framework that distinguishes between skill-based games and games of chance, alongside investments in digital infrastructure to foster innovation. By addressing these areas, the budget could empower gamers and position India as a global hub for gaming innovation.
As stakeholders await the budget announcement, these insights reflect a collective hope for policies that not only stimulate economic growth but also foster inclusivity across various sectors. The upcoming budget is poised to address these expectations while balancing fiscal prudence with the need for substantial investment in key industries.
These insights reflect a diverse range of expectations from various sectors as stakeholders prepare for the upcoming budget announcement on February 1, 2025.
Quote from Fin-tech and Health Insurance Industry
Mr. Anshul Khurana, Co-founder and CEO â Entitled Solutions
"As we approach the Union Budget, there are three key expectations:
1. Financial Inclusion: Regulatory tightening in recent years has impacted access to credit for urban low-income groups and reduced rural infrastructure like micro-ATMs. We hope for regulatory stability and clarity around NBFC and fintech partnerships, alongside initiatives that renew the focus on inclusion. 2. Labour Codes for Gig Workers: Gig workers have significantly contributed to employment generation. Formal recognition and comprehensive social security coverage under the labour codes could elevate this sector further. 3. Healthcare for Urban Low-Income Households: This segment often falls between the cracksâneither classified as BPL nor EWSâyet is equally in need. Budget measures like GST removal on insurance, incentivizing standard health coverage plans, and expanding the Ayushman Bharat program to include these households could ensure better access to essential healthcare".
Quote from Agri-processing Machinery IndustryQuote on behalf of Mr. Vasu Naren, Chairman & Managing Director, Sona Machinery
"The Union Budget 2025-26 is a pivotal moment for the rice milling industry, which plays a critical role in ensuring food security and supporting the rural economy. Key expectations include incentives for modernizing rice mills with advanced machinery to improve efficiency, reduce wastage, and enhance the quality of output. Subsidies or tax exemptions for the adoption of energy-efficient and automated solutions can drive innovation and reduce operational costs.
Additionally, creating better access to financing options and offering interest subvention schemes for millers will further strengthen the sector.From an ethanol perspective, utilizing by-products from rice mills, such as rice husk, to support ethanol production can create additional revenue streams while contributing to Indiaâs energy goals. Establishing infrastructure for integrating rice milling outputs into ethanol production processes will enable synergy between the two industries.These measures will not only modernize the rice milling sector but also position it as a critical enabler of Indiaâs ethanol blending targets and sustainable energy transition. Policy support for rice milling and ethanol production will boost rural livelihoods, strengthen the agricultural economy, and solidify Indiaâs position in global agriculture and biofuel markets."
Quote from the Gaming Industry
Kunal Patni, Executive Director and Country Head, Natural8 India
"This yearâs Union Budget should focus on helping gamers upgrade their skills through incentives and free training programs, fostering growth in Indiaâs rapidly expanding online gaming industry. A uniform and progressive regulatory framework is essential, providing clarity on taxation, particularly GST and TDS structures, to ensure compliance and encourage investments. Simplifying the tax regime will boost confidence among stakeholders and attract innovation.For skill-based games, clear distinctions from games of chance are crucial, along with measures to support fair recognition and regulatory backing. Investments in digital infrastructure and cybersecurity are necessary to sustain growth while protecting players.
Additionally, initiatives to promote entrepreneurship and skill development within the gaming ecosystem can create significant employment opportunities. By addressing these aspects, the budget can not only empower gamers but also position India as a global hub for gaming innovation, contributing meaningfully to the digital economy."
