JAMMU: Rahul Sahai, Chairman, Indian Chamber of Commerce, Jammu Chapter said The Union Budget 2025 is a well-balanced financial plan that aligns fiscal discipline with economic growth, ensuring sustainable development while boosting key sectors.
The budget emphasizes skilling, education, training, agriculture, research, and small industry exports, backed by real schemes and financial support. A key highlight is the increase in individual tax exemption from 7% to 12%, enhancing disposable income and driving economic activity.
Rural development receives a major boost with investments in nutrition, productivity, seed quality, automation, and technology adoption. The fund of funds for startups and small industry loan guarantees will encourage entrepreneurship.
State participation in investment is rightly emphasized, as investors focus on specific regions rather than the country as a whole. Strengthening local governance will enhance ease of doing business and attract investments.
Artificial Intelligence remains a priority, with a focus on research, skill development, and manufacturing. Industry-friendly regulations and expedited approvals will drive innovation. The upcoming Direct Tax Bill and regulatory reforms in the non-financial sector are much-needed steps toward better governance.
While Jammu & Kashmir wasn’t specifically addressed in detail, future announcements regarding the NCSS package and related schemes are anticipated. Overall, Budget 2025 is progressive and growth-oriented, providing a strong roadmap for India's sustainable economic development.
