The participants at a discussion meeting on the recent Union Budget at GITAM School of Business in Visakhapatnam on Saturday (February 8, 2025) highlighted the Budget’s implications for private sector investment and inclusive growth.
Visakhapatnam Port Authority chief accounts officer Saragadam Siva Kumar said the government took steps to correct duty inversions, protecting domestic manufacturers and reducing dependence on imported raw materials.
Union Budget 2025: Tax break will give a fillip to slowing economy, says Centre
Symbiosys Technologies CEO O. Naresh Kumar observed that the guarantee limit for MSMEs will increase from ₹5 crore to ₹10 crore, unlocking an additional ₹1.5 lakh crore in credit over the next five years.
Steel City Managing Director Satish Kumar Arya said giving exemptions and raising the limit of the Income Tax would encourage domestic demand of the country and spending on the infrastructure would attract investments.
Union Budget 2025: What India tech executives said about FM’s focus on AI and skill development?
IIM-Visakhapatnam Prof. Kalyan Kolukuluri mentioned that 50 lakh Atal Tinkering Labs in government schools is a welcome move and the establishment of a second gene bank will provide conservation support for genetic resources.
G.V.K. Kasthuri, Area Chair, Department of Accounting and Finance, GITAM, said the decision to raise the Foreign Direct Investment limit for the insurance sector from 74 to 100% will attract inward FDI into the country, promoting economic growth. She also highlighted the removal of higher TDS/TCS rates for non-filers of income tax returns.
International Business senior faculty Radha Raghurama Patruni said Union Budget 2025 focusses on accelerating growth, pivoting private sector investment and securing inclusive growth that uplifts household sentiments.
