New York, Feb 2: The Union Budget 2025 is a strong blueprint for propelling economic growth toward the Indian government’s vision of a USD 5 trillion economy, an India-centric business advocacy group said and applauded what it described as “landmark reforms and forward-looking initiatives.”
The US-India Strategic Partnership Forum (USISPF), an independent not-for-profit working to strengthen the US-India partnership in Washington DC and in New Delhi, termed as “robust,” the Union Budget 2025 unveiled by Finance Minister Nirmala Sitharaman on Saturday in New Delhi.
Promoting financial modernisation through strategic investments and landmark reforms in the tax structure, the Budget, according to a statement from the USISPF, signals to investors that India is committed to fostering a resilient, inclusive, and globally competitive economic environment.
“We especially appreciate the shift in spending priorities this year, with greater attention to domestic consumption to support growth through increased domestic demand,” it said.
It also welcomed the increased spending outlays for rural and urban development, social welfare, and development of the Northeast states and noted the more moderate increases in capital investments this year.
Tarun Bajaj, chairperson of the US-India Tax Forum, added, “The Union Budget 2025 lays out a roadmap for boosting consumption and accelerating growth and employment. It has a strong focus on simplifying the tax regime, boosting domestic manufacturing, and on ease of doing business/deregulation and decriminalisation.” (PTI)
