Bold Reforms & Fiscal Discipline: Why S.K. Chaudhary Backs Budget 2025
04 February 2025, New Delhi: The Union Budget 2025 has been hailed as a visionary roadmap for India’s economic transformation, with strategic reforms aimed at strengthening food security, critical resources, and energy independence. Mr. S.K. Chaudhary, Chairman of Safex Chemicals, lauded the government’s bold initiatives, emphasizing their potential to enhance global confidence in India’s economic leadership.
According to Mr. Chaudhary, the government’s focus on regulatory reforms and a state-specific competitiveness index will significantly improve the ease of doing business, attracting both foreign and domestic investments. The fiscal prudence demonstrated in setting the fiscal deficit target at 4.4% for FY26 further reinforces India’s commitment to economic stability while ensuring sustainable growth.
Agriculture remains a central pillar of the budget, with key initiatives aimed at boosting productivity and supporting farmers. The PM Dhan-Dhaanya Krishi Yojana, focusing on 100 low-productivity districts, and the four-year pulse procurement plan under Nafed-NCCF, highlight a strong push for agricultural resilience. The launch of the six-year ‘Aatmanirbharta in Pulses’ program, alongside efforts to enhance vegetable, fruit, and cotton production, is expected to strengthen food security and improve farmer incomes.
On the industrial front, the National Manufacturing Mission promises to accelerate India’s leadership in clean technology. Increased investment and turnover limits for MSMEs, term loans of up to ₹20 crore for export-oriented enterprises, and a well-balanced approach to labor flexibility and worker rights will ensure inclusive economic growth. Additionally, the government’s commitment to skill development in future-oriented sectors will empower India’s workforce to drive the next phase of industrial transformation, particularly in specialized fields such as advanced chemicals, contract development and manufacturing organizations (CDMO), and active pharmaceutical ingredients (API).
Highlighting the government’s push for self-reliance, Mr. Chaudhary praised the ‘Mission for Aatmanirbharta in Pulses’ as a significant step toward reducing import dependency and ensuring long-term food security. With these forward-thinking measures, the budget sets a clear direction for India’s economic growth, making it a global force in key strategic sectors.
Also Read: Budget 2025: A Boost for Farmers, but GST on Inputs Needs Revision – Dr. R.G. Agarwal
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