On February 1, 2025, Union Finance Minister of India, Nirmala Sitharaman presented her 8th Budget i.e., Union Budget for 2025-26 in Parliament. During her speech, FM emphasized the focus areas of this year’s budget which include agriculture, industry, health, and education. This year’s budget also provides relief offering to the common public of the nation, as well as creates opportunities for employment.
One of the most welcomed announcements was the introduction of the new tax regime that aims to give a sigh of relief to the mighty Indian middle class. The Budget mentions 'No Income Tax Up to Rs 12 Lakh' per annum which is expected to benefit the middle class significantly. Addressing this, Radhika Gupta, MD & CEO, Edelweiss MF notes "This budget boldly addresses the need of the hour: putting money into the hands of the middle class through meaningful tax reliefs. This will energize consumption and growth at a critical time for the Indian economy."
This year, healthcare and pharma received ample focus with a plethora of initiatives being announced for the sector. Sandhya Sriram, Group Chief Financial Officer - Narayana Health said, “In a significant relief for patients, the full exemption of basic customs duty on 36 life-saving drugs and medicines, along with a concessional rate on six others, will help reduce treatment costs for those battling cancer, rare diseases, and severe chronic conditions.”
“A customized tariff structure will aid the pharmaceutical sector in making manufacturing and the export of medicines easier, putting India in a stronger position as a pharmaceutical superpower,” said Saloni Wagh, Managing Director, Supriya Lifescience Ltd.
Another key announcement was the announcement of ₹10,000 crore for the new startup Fund of Funds. Speaking about this move, Padmaja Ruparel, Co-founder, IAN Group said, “The Budget 2025 announcement of an additional ₹10,000 crore Fund of Funds is revolutionary and reaffirms the government's continued support for startups.”
While announcing the 2025 Union Budget, Finance Minister Nirmala Sitharaman also unveiled a new initiative poised to bolster women’s entrepreneurship, targeting 5 lakh women from Scheduled Castes and Scheduled Tribes (SC/ST). Over the next five years, this scheme will facilitate term loans of up to Rs 2 crore, providing crucial financial support to aspiring business owners.
Reacting to this budget’s focus on women’s empowerment, Sapna Desai, CMO - ManipalCigna Health Insurance Company said, “Key initiatives such as better credit access for women entrepreneurs and enhanced market opportunities for women-led enterprises will drive toward higher female representation in leadership roles.”
In this special issue of the magazine, WER spoke to key women leaders from across industries who shared their thoughts on the various policies and initiatives announced through the Union Budget 2025.
Read on and do let us know your thoughts.
