NEW DELHI: Sachin Tayal, Managing Director of Protiviti Member Firm for India, has shared his reaction to the recently presented Union Budget 2025, highlighting the positive implications it has for India’s economic growth and development.
Tayal praised the government’s efforts to boost domestic consumption, manufacturing, and exports while maintaining control over the fiscal deficit. He emphasized the significance of the high capital expenditure allocation, particularly in infrastructure, which is expected to drive GDP growth in the upcoming fiscal year. Tayal believes this will also have a ripple effect, benefiting various industries across the country.
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He further welcomed the expansive digitalization initiatives outlined in the Budget, which span across taxation, governance, education, healthcare, infrastructure, and international trade. These initiatives, according to Tayal, will enhance accessibility to government services for both citizens and businesses, promoting greater transparency and efficiency.
The corporate sector stands to gain from the proposed reforms in energy, urban development, and the financial sectors, Tayal noted. He also pointed out the new opportunities for private sector involvement in India’s infrastructure development, which could potentially transform the landscape of key industries.
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In addition, Tayal highlighted the national framework supporting the growth of Global Capability Centres (GCCs) in tier-II cities. This focus on talent development and infrastructure will foster further expansion in the technology services sector, he added.
Tayal also commended the significant income tax reductions and the simplification of TDS, TCS, and related tax compliances. These measures, he believes, will uplift consumer sentiment, enhance spending power, and contribute to the overall health of the Indian economy during this critical period.
