JAMMU: In a resounding endorsement of India’s Budget 2025, Mohan Ramaswamy, Co-founder and CEO of Rubix Data Sciences, has lauded the government’s progressive measures aimed at empowering MSMEs, enhancing KYC security, and simplifying the ease of doing business. Ramaswamy highlighted the increase in investment and turnover limits for MSMEs as a "game-changer" for India’s manufacturing and export sectors, enabling businesses to scale without losing critical benefits.
He also praised the revamped Central KYC Registry, set to launch in 2025, for its focus on data security and operational efficiency. Additionally, he commended the budget’s efforts to reduce regulatory complexities, improve access to finance, and foster a more transparent business environment, calling it a pivotal step towards India’s economic growth and global competitiveness.
Quotes of Mohan Ramaswamy, Co-founder and CEO at Rubix Data Sciences
MSME
"The increase in investment and turnover limits for MSMEs is a game-changer for India’s manufacturing and export sectors. By allowing businesses to scale without losing MSME benefits, this move will drive expansion, enhance credit access, and boost job creation. It strengthens India's position as a global manufacturing hub while ensuring MSMEs remain the backbone of economic growth".
KYC
"The introduction of a revamped Central KYC Registry in 2025 is a great step towards enhancing both security and efficiency in India’s financial ecosystem. By implementing measures like masking KYC identifiers and using unique IP-based access, the government is ensuring that sensitive customer data remains secure from unauthorized access. This initiative will help businesses and financial institutions streamline their customer verification processes while safeguarding data integrity, aligning with RBI’s focus on building a more secure and resilient KYC framework. This is a critical move to foster greater trust and compliance across sectors".
Ease of Doing Business
"India's business environment has long been burdened by complex regulations and processes that have made it challenging for companies to thrive. However, Budget 2025 marks a pivotal step towards improving the ease of doing business. Simplifying customs procedures, reducing tariff rates, and streamlining the tax filing process will drastically reduce the time and costs businesses incur to navigate regulatory hurdles. The extension of the deadline for filing updated tax returns and the rationalization of the TDS and TCS systems offer greater clarity and reduce the compliance burden for companies of all sizes.
Moreover, the decriminalization of over 100 provisions through the Jan Vishwas 2.0 bill will help create a more supportive environment for businesses, eliminating unnecessary penalties and fostering a culture of innovation and risk-taking. The increased credit guarantee cover for MSMEs and the expanded loan limits under the PM Swanidhi scheme are key steps in improving access to finance for small and medium enterprises, which will help them scale and compete more effectively in both domestic and global markets.
By focusing on reducing regulatory complexity, improving access to capital, and promoting a more transparent business ecosystem, these measures are set to enhance the ease of doing business, empowering companies to grow, innovate, and contribute to India's economic prosperity".
