Union Budget 2025 presents a balanced and strategic approach: ICC Jammu chapter 

Jammu: The Indian Chamber of Commerce, Jammu Chapter, has described the Union Budget 2025 as a ‘well-balanced financial plan that effectively aligns fiscal discipline with economic growth.’

Rahul Sahai, Chairman of ICC Jammu, in a statement to Ziraat Times,  emphasized that the budget ‘ensures sustainable development while strengthening key sectors of the economy.’

The budget places a strong focus on skilling, education, training, agriculture, research, and small industry exports, backed by concrete schemes and financial support. A major highlight is the increase in individual tax exemption from 7% to 12%, which will enhance disposable income and drive economic activity, he added.

“Rural development receives a significant boost with targeted investments in nutrition, productivity, seed quality, automation, and technology adoption. The introduction of a fund of funds for startups and small industry loan guarantees is expected to foster entrepreneurship and innovation”, he further observed.

Here is ICC’s full reaction to the budget:

The budget rightly underscores state participation in investments, acknowledging that investors often focus on specific regions rather than the country as a whole. Strengthening local governance will further improve the ease of doing business, making states more attractive for investments.

Artificial Intelligence (AI) continues to be a priority, with substantial emphasis on research, skill development, and manufacturing. Industry-friendly regulations and streamlined approval processes are set to accelerate innovation. Additionally, the upcoming Direct Tax Bill and regulatory reforms in the non-financial sector are welcome steps toward improved governance and business efficiency.

While Jammu & Kashmir was not specifically addressed in detail, future announcements regarding the NCSS package and related schemes are anticipated.

Overall, Budget 2025 is progressive and growth-oriented, offering a clear roadmap for India’s sustainable economic development while fostering entrepreneurship, technological advancement, and regional investment.