The Budget and the Economy: Insights and Analysis

“With a focus on equipping the youth for global opportunities, the National Centres of Excellence in  AI and the establishment of 50,000 Atal Tinkering Labs will help students hone their skills in cutting-edge technologies towards achieving “Make for India, make for the world”. The announcement of 10,000 scholarships dedicated to fostering innovation and research, along with a National Digital Repository for knowledge systems will create a robust and future-ready  education ecosystem. The budget has introduced strategic initiatives in technical education expansion which will broaden the horizon for India’s youth and empower emerging Tier-2 cities to become global hubs for tech innovation, positioning India as a leader in global manufacturing and skilling.”
Sharad MalhotraSharad Malhotra, President, Automotive Refinishes & Wood Coatings, Nippon Paint India
“The Union Budget 2025-26 has introduced several initiatives for strengthening India’s manufacturing sector and clean mobility. The ‘Make in India’ focus of the National Manufacturing Mission will boost local production, reduce import dependence, and strengthen supply chains, creating a more self-reliant economy. This initiative also emphasizes the importance of R&D to drive innovation and enhance manufacturing capabilities within India. At Nippon Paint India, we see this as a great opportunity to contribute to clean energy innovation and sustainable manufacturing. We’re committed to expanding local production, investing in advanced facilities, driving R&D efforts for next-generation products, and partnering with industry leaders to build a robust ecosystem for growth.”

Agendra Kumar, Managing Director, Esri India
“A big thank you to our Hon. Finance Minister for announcing several programs as part of the budget for 2025-26 to give a boost to the geospatial sector. The most important one is the setting up of the National Geospatial Mission to develop foundational geospatial infrastructure and data to facilitate land records modernization, urban planning, and infrastructure design. The users in the government, private sector, and the industry have lived with the lack of good foundational data for a very long time. I believe this announcement will provide the necessary resources to create geospatial data that will serve as a foundation for social and economic development. By improving productivity across sectors such as agriculture, natural resources, energy generation and distribution, rural and urban initiatives, and governance, this effort will drive meaningful progress. Investment in research and development fuels economic growth, improves quality of life, and shapes the future. Rs 20,000 crore investment to drive private sector-led R&D and innovation, funds for Deeptech research, 10,000 fellowships under the PM Research Fellowship Scheme, and Rs 500 crore investment for a CoE in AI for education, are transformative steps to make India more competitive at the global level in terms of innovation and IP creation. Overall, the budget has set strong grounds for equipping India with the skills and resources necessary to navigate the evolving global landscape and achieve its vision of being a technologically advanced and prosperous nation.”

*Rakesh K Jha, Partner, Energy Sector Solutions, Sustainability and ESG, BDO India*
The Union Budget 2025 takes a balanced approach to strengthening India’s energy sector by addressing financial, infrastructure, and manufacturing challenges. It prioritizes DISCOM reforms, transmission expansion, and renewable energy growth while reducing costs for solar and battery storage through lower duties and enhanced PLI incentives. The focus on green hydrogen, nuclear energy, and domestic manufacturing signals a long-term vision for energy security and self-reliance. While these measures create a strong foundation for India’s clean energy transition, their success will depend on effective implementation, regulatory clarity, and sustained financial support to ensure long-term impact.