By Sitaram Mewati | Mumbai
The Union Budget presented by finance minister Nirmala Sitharaman on Saturday provides a clear roadmap for achieving the vision of Viksit Bharatby 2047, with a strong focus on domestic resilience and inclusive growth, said Dr Vijay Kalantri, president of the All India Association of Industries (AIAI).
Commenting on the Budget, Kalantri said it has been framed amid heightened geopolitical uncertainty while positioning India as a global growth engine. “The focus on advanced manufacturing, biopharma, construction materials and frontier technologies strengthens Atmanirbharta and industrial competitiveness,” he said.
He welcomed the emphasis on developing domestic capabilities in rare earth elements, noting that stronger supply chains would help insulate the economy from global shocks.
Highlighting measures for MSMEs, Kalantri said extended liquidity support, specialised funds and integration of GeM with TReDS would improve access to finance and reinforce MSMEs as key growth drivers. He also pointed to the Budget’s push for creative sectors such as content creation and design, which could generate new-age employment.
Kalantri said the recognition of urban regions as engines of growth was encouraging. “Infrastructure financing through specialised funds and incentives for municipal bonds will unlock capital for sustainable urban development,” he said.
On investments, he said rationalisation of tax norms could facilitate FDI and FII inflows, though changes in futures and options taxation may affect market sentiment. Export-oriented customs duty rationalisation for sectors such as textiles, renewable energy components and electronics would support value-added exports, he added.
Congratulating the finance minister, Kalantri said the Budget could help India sustain 8–9% annual growth and progress towards a $30 trillion economy by 2047.
Editor in Chief : Mewati SItaram
