From Tax Cuts to Women-Led Startups: What Industry Leaders Expect from Budget 2025

Kolkata, 31st Jan, 2025: As India awaits Budget 2025, industry leaders call for financial inclusivity, infrastructure growth, and policy support. Key sectors like MSMEs, real estate, healthcare, hospitality, and brand marketing seek reforms to drive economic progress.

A major demand is better financial access for underrepresented groups. Ms Ritusmita Biswas, Founder Director of Digital Brandz, stresses the need for women-focused incentives. “A truly progressive budget must focus on inclusivity—supporting MSMEs, boosting research and development, and enabling financial accessibility. The budget must introduce incentives such as low-interest credit lines, dedicated venture capital funds for women-led startups, and increased government procurement from women-owned businesses.” Tax benefits and women-centric funds could enhance economic participation.

In healthcare, infrastructure and insurance reforms are crucial. Dr. Debasish Biswas, an aesthetic physician, advocates for preventive healthcare and MSME support. “HPV vaccination, screening, and testing for girls under 15 must be prioritized. Standardized treatment protocols for cervical cancer and a separate budget for MSMEs are crucial. More tax benefits and easy loan procedures for startups would strengthen the ecosystem.” Mr Kanad Maitra, Director, AM Medical Centre highlighted that The healthcare sector urgently needs increased government support to strengthen infrastructure and drive innovation. “A budget allocation rise of 2.5% to 3% is essential, particularly to enhance healthcare facilities in rural and semi-urban areas. Additionally, reducing GST on health insurance premiums and increasing the deduction limit will make healthcare more affordable for citizens.

The real estate sector seeks policies that drive infrastructure growth. B.P. Singh Roy, COO of Keventer Realty, is hopeful for reforms that ease business and promote sustainable urbanization. “We look forward to Budget 2025 bringing reforms that ease business, drive sustainable urbanization, and promote affordable housing. A strong push for tax benefits and commercial real estate development will act as a catalyst for the economy.”

The hospitality sector, heavily impacted by taxation, calls for GST rationalization. Gautam Purkayastha, owner of Tamarind, highlights the need for tax reforms. “With the Union Budget 2025 approaching, we hope for tax rationalization in the restaurant sector, particularly a reduction in GST to make dining out more accessible. Lowering the current 5% GST (without input tax credit) or reintroducing input tax credit benefits could provide much-needed relief to restaurateurs.”

(This story has not been edited by News Mania staff and is published from a  Media Release)