As Union Budget 2025 approaches, we anticipate focused measures that address the critical needs of SMEs, employees, and the workforce at large.

Micro, Small, and Medium Enterprises (MSMEs), which contribute nearly 30% to India’s GDP, are the backbone of job creation and economic growth. Simplified compliance processes and easier access to financing are essential for their success. The eagerly awaited implementation of the Code on Wages could transform labor regulations by unifying and simplifying wage laws. This reform promises greater transparency, improved labor conditions, and fairer compensation, reducing burdens for both businesses and workers. Combined with rationalized taxation and incentives for workforce expansion, such measures can create a thriving, competitive ecosystem.

Easing financial pressures on employees is just as important. As the heart of India’s workforce, employees are seeking relief through income tax reforms. By enhancing disposable incomes, the government can provide much-needed financial respite, boost consumer confidence, and fuel domestic demand, driving broader economic progress.

Further, to sustain growth, investing in human capital is vital. Upskilling and reskilling initiatives can prepare the workforce for emerging technologies, ensuring India’s global competitiveness in a rapidly changing world. Supportive policies that encourage such investments will enhance productivity and innovation across industries.

At greytHR, we are committed to empowering businesses with innovative tools and technology to simplify compliance, enhance employee engagement, and build future-ready workforces. By addressing these shared aspirations, we can unlock India’s immense economic potential and create a brighter, more inclusive future for all.” – Girish Rowjee (Co-founder & CEO) & Sayeed Anjum (Co-founder & CTO), greytHR

Interiors
Sammeer Pakvasa, Managing Director and CEO of Eleganz Interiors

As we approach this year’s budget announcement, the interior design and build fit-out industry is optimistic yet cautious. With India’s construction and real estate sector projected to grow at a robust rate—various estimates place the CAGR at around 9-10% from 2023 to 2028—there is immense potential to align policies that fuel sustainable and innovative growth. A key expectation from the budget is the introduction of additional tax incentives or subsidies for sustainable building practices and materials. As India pushes toward its Net Zero carbon goals by 2070, the interior design and build fit-out sector must be encouraged to adopt green building standards, such as LEED and WELL certifications, which can significantly lower the environmental footprint of commercial and residential spaces while fostering responsible design. The Indian government’s initiatives, such as the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), have laid a foundation for skill development; however, tailored programs for interior craftsmanship and build fit-out technologies can further bridge the projected 34% rise in demand for skilled workers in the construction and interiors segment over the next five years. Moreover, as workspaces evolve in response to hybrid work models, there is a growing demand for flexible and wellness-centric designs. Policies promoting corporate tax benefits for investments in employee-friendly and ergonomic office upgrades could drive businesses to reimagine work environments. Additionally, an increased allocation for infrastructure development, particularly in Tier II and III cities, could unlock untapped potential in these emerging markets. Strengthening these regions with enhanced connectivity and commercial spaces will catalyze economic growth and create opportunities for the design and build fit-out sector. This budget presents a unique opportunity to champion sustainability, innovation, and inclusivity, ensuring the design and build fit-out sector contributes meaningfully to India’s growth story. With supportive policies, the industry can deliver spaces that are not only aesthetically appealing but also functional, sustainable, and future-ready.

Technology
Yug Bhatia, Founder and CEO of Control Z

As the 2025 Union Budget approaches, there is a prime opportunity for the government to prioritize the growth of the circular economy and sustainable technology sectors. The global refurbished smartphone market is growing at a 10.23% CAGR, and India’s e-waste management industry is projected to reach $7.5 billion by 2025, highlighting the immense potential for sustainable innovation. To capitalize on this, the government should focus on introducing tax incentives for electronics refurbishment and recycling, which would reduce e-waste while encouraging sustainable consumption practices across industries. Additionally, investing in research and development for green technologies and advanced recycling methods can position India as a leader in sustainability and innovation. Further, with more than 70% of Indian consumers now open to purchasing refurbished products, public awareness campaigns can drive a significant shift in consumer behavior, expanding demand for sustainable technology. By supporting these initiatives, the government can help foster a thriving circular economy, reduce environmental impact, and establish India as a global leader in the sustainable technology space. This budget provides a chance to drive both environmental and economic growth while advancing India’s position in the global green tech movement.

Jewellery
Sumit Dassani, Partner, Dassani Brothers

The Union Budget 2025-26 presents an opportunity for the government to empower the jewelry sector, which contributes nearly 7% to India’s GDP and employs over 5 million people, as per the Gem and Jewellery Export Promotion Council (GJEPC). A reduction in the current 10.75% import duty on gold could significantly enhance affordability for consumers, boost domestic demand, and curb unregulated trade, which remains a pressing concern for the industry. Additionally, as per the World Gold Council, India is responsible for nearly 27% of global gold demand, yet we continue to face competitive challenges in the international market. Policy reforms such as easing GST rates on precious metals and streamlining compliance norms for exports can bolster our global standing and encourage greater participation from smaller businesses and artisans. Moreover, with the global luxury market expected to grow at a compound annual rate of 5-6% through 2027 (according to Bain & Company), we must position India as a leading destination for high-value, handcrafted jewelry. Initiatives like skill development programs for artisans and incentives for sustainable and innovative practices in the sector can further drive this vision. At Dassani Brothers, we remain committed to preserving the legacy of handcrafted heirloom jewelry while embracing modern trends and sustainability. We hope this year’s budget paves the way for growth, affordability, and innovation in the jewelry sector, ensuring that India continues to shine as a global leader in fine craftsmanship.

Education
Kavita Kerawalla, Vice Chairperson of VIBGYOR Group of Schools

“The allocation of ₹1.48 lakh crore in the last Budget for education, employment, and skilling was a commendable step in strengthening India’s position as a global talent hub. As we approach the next Union Budget, we are hopeful that a significant share will go towards education, particularly for teacher training. Investing in our educators is key to building a skilled and inclusive workforce ready to tackle future challenges.Such investments will boost both foundational and higher education, giving our youth the skills they need to excel in a competitive job market. These steps will also ensure quality education reaches every corner of the country, helping bridge the digital divide and bringing the benefits of technology to all students. We believe the upcoming Budget should focus on building strong digital infrastructure to support blended learning, narrow the rural-urban gap, and scale technology-driven education programs. This will help us thrive in the digital era, preparing students for a tech-focused world.These initiatives won’t just empower our youth—they will also drive India’s journey to becoming a developed nation by 2047. We hope to see a focus on modernising education to match industry needs while encouraging the growth of the EdTech sector. Such moves will greatly benefit private institutions like ours, helping us strengthen tech infrastructure, run advanced teacher training, and adopt sustainability measures. We’re optimistic about continued government support in these areas to help us contribute more effectively to India’s education system.”

Manufacturing
Jay Deepak Shah, CEO & MD, Jay Wood Industry

“As we approach Budget 2025, the SME sector in manufacturing and packaging, holds high expectations for transformative growth. The Indian green packaging market is projected to grow at a CAGR of 6.52% from 2024 to 2032—demonstrating the significant potential for growth in sustainable packaging.With increasing industrial activity, urbanization, and a rising demand for sustainable packaging, SMEs are well-positioned to enhance India’s global competitiveness. Government initiatives like ‘Atmanirbhar Bharat’ and ‘Make in India’ are fostering innovation and strengthening the backbone of the economy—small and medium enterprises. Sustainability will continue to be a central focus, with measures such as Extended Producer Responsibility (EPR) and initiatives to reduce plastic waste paving the way for biodegradable and recyclable packaging solutions. By 2025, we expect to see stronger support for eco-friendly practices, accelerating the transition to a circular economy and promoting green manufacturing.

At M/s Jay Wood Industry (JWI), we are committed to driving this transformation. Our dedication to manufacturing sustainable wooden pallets using responsibly sourced materials and energy-efficient processes underscores the vital role SMEs play in advancing green innovation. We hope that Budget 2025 will introduce incentives for sustainable practices, strengthen SME-friendly policies, and encourage investment in green technologies, further empowering the sector. We are optimistic about the future and ready to lead the shift towards sustainable growth, championing a united movement for a greener and more sustainable future in the industry.”

Mumbai, 28 January 2025: MTV, India’s leading youth entertainment channel, has launched an exciting new campaign to celebrate Road Safety Month. Staying true to its creative, innovative, and impactful narratives, MTV has unveiled Chikmangloo—a fun, bold, and relatable character who embodies the reckless behaviors often seen on roads. Through three entertaining TVCs, Chickmangloo delivers a powerful message about road safety that instantly resonates with young audiences.

Speaking about the campaign, Anshul Ailawadi, Business Head – Youth, Music & English, JioStar, said, “We believe meaningful change begins with conversations that resonate. Chikmangloo isn’t just a quirky character—he reflects the behaviors we often witness but ignore. By blending humor with a powerful message, this campaign aims to inspire youth to adopt safer practices and take ownership of making our roads safer for everyone.”

Chikmangloo’s exaggerated misadventures highlight the consequences of ignoring traffic rules, such as dancing in the middle of a zebra crossing for social media clout or zipping recklessly through busy streets. These light-hearted yet impactful scenarios turn his blunders into teachable moments, blending humor with meaningful messaging to drive awareness. Additionally, Chikmangloo’s blingy costumes, over-the-top antics, and dramatic situations – like being caught in an airplane propeller or trampled while filming a viral dance video – make him an unforgettable character. The Stop-motion animation was completely done in-house.

The campaign communication, entirely conceptualized and executed in-house by the MTV team, covers everything from scripting and storyboarding to character design, animation, and post-production. Using advanced techniques like motion graphics, rigging, and keyframe animation, the team created a visually compelling narrative that seamlessly integrates 2D/3D elements while reflecting the brand’s ethos.

In one of the standout moments, Chikmangloo unexpectedly walks onto the set of MTV Roadies Double Cross, where he confronts the show’s host, Rannvijay Singha, demanding to join the next season. His misguided confidence earns him a crash course in responsible behavior as Rannvijay emphasizes that being an “Asli Roadie” means following road rules. This collaboration strategically leverages the strong brand equity of MTV Roadies, India’s longest-running adventure reality show, to enhance the campaign’s impact, ensuring the message of road safety resonates deeply with the show’s dedicated audience.

These comedic yet cautionary tales encourage the audience to reflect on their road habits, reinforcing the campaign’s core message that road safety can be both essential and cool. By delivering this message with flair and MTV’s signature youthful energy, the campaign effectively balances entertainment with education, ensuring its impact lingers long after the screen fades.

Taking this powerful narrative further, MTV has partnered with ArriveSAFE, an NGO founded by Harman Singh Sidhu after a life-changing road crash in 1996, to promote road safety and sustainable transportation. ArriveSAFE’s mission aligns with the UN Sustainable Development Goals, focusing on safer roads, educational content, and digitalizing road safety operations. Through this collaboration, MTV and ArriveSAFE aim to inspire India’s youth to prioritize road safety and make conscious choices that can create safer roads nationwide.

Harman Singh Sidhu, Founder of ArriveSAFE, shared, “Some incidents can completely change your life in the blink of an eye. While many of these are inevitable, others, including road crashes, are avoidable. To even Imagine that every 3 minutes, a life is lost on Indian roads due to crashes is harrowing. What’s even worse is that most of these victims are usually the young breadwinners of the family. Incidents like these not only shake the foundation of their family but also have a profound social, emotional, and economic impact on the family members and their loved ones. Through our collaboration with MTV, we aim to inspire and educate these young riders to make conscious decisions that will make India’s roads safer for everyone.”

Hyderabad, 28 January 2025: Celebrating the spirit of ‘Living it Large’, Seagram’s Royal Stag marked the commencement of its highly anticipated third edition of Royal Stag BoomBox with a groundbreaking show in Hyderabad, Telangana at Boulder Hills on January 25th. Building on the phenomenal success of previous editions, this year’s festival pushes boundaries even further by bringing together the best of music and gaming entertainment. The evening witnessed an overwhelming response as thousands of enthusiasts gathered to experience performances by some of India’s most celebrated artists. The event delivered an unforgettable night of pulsating music, enthralling performances, and unparalleled energy.

The sprawling grounds of Boulder Hills came alive with vibrant installations, immersive art displays, curated food experiences, and interactive zones, creating a multisensory celebration beyond just music. The evening kicked off with an electrifying set by DJ Yogii, who set the perfect mood for the night. The energy amplified as rap phenomenon Raftaar took the stage, followed by a mesmerizing performance by versatile vocalist Nikhita Gandhi. The grand finale saw music maestro Amit Trivedi deliver a spectacular closing act that perfectly embodied the festival’s signature blend of diverse musical genres, creating an unforgettable experience for Generation Large. The event also showcased an electrifying EAFC Face-Off competition between Munna Bhai Gaming and Joker Ki Haveli, live on stage.

Music director and singer Amit Trivedi shared, “Royal Stag BoomBox is a beautiful celebration of music – raw, authentic, and straight from the heart. For me, it’s about sharing stories through melodies and connecting with people on a deeper level. I feel truly grateful to be a part of this platform, and performing here in Hyderabad, with its incredibly enthusiastic audience, was a euphoric experience.

Singer Nikhita Gandhi added, “Personally for me, Royal Stag BoomBox has always been about experimenting and breaking boundaries through music. Whether it’s fusing genres or delivering an electrifying live performance, this platform allows us to push creative limits. Performing at Royal Stag BoomBox in Hyderabad was an unforgettable experience and I am excited for my next show in Mumbai.”

Eminent Hip-Hop artist Raftaar shared, “Royal Stag BoomBox is where the beats hit hard, and the vibes are always on point. For me, it’s about more than just rapping – it’s about taking the crowd on an energetic and emotional ride. Hyderabad brought the fire tonight, and I’m grateful to have had the chance to set the stage ablaze with my high-octane music and raw energy!”

DJ Yogii said, “Royal Stag Boom Box is all about making the crowd move and feel alive through music. As a DJ, my goal is to blend beats and genres to create an electrifying atmosphere. I’m stoked to bring my high-energy set this year and turn the event into one big, unforgettable party! It was an absolute thrill to open the night and set the rhythm for such incredible performances to follow.”

Popular gaming influencer Munna Bhai said, “Royal Stag BoomBox’s integration of gaming with music is revolutionary. The EAFC 24 showdowns brought an entirely new dimension to the festival, and the crowd’s reaction was incredible. This is exactly what the gaming community has been waiting for.”

Joker Ki Haveli added, “As a gamer, I am thrilled to join forces with Royal Stag BoomBox. The live gaming face-offs in Hyderabad added an electrifying new layer to the event, and I can’t wait to bring the energy of the gaming community to next event in Mumbai.”

Kartik Mohindra, Chief Marketing Officer and Head of Global Business Development at Pernod Ricard India said, “The universal language of music, especially in live experiences, has this remarkable power to unite people and create moments of pure magic. Royal Stag continues to celebrate music as its key youth passion pillar. Now, as we unveil the third edition of Royal Stag BoomBox, the platform is set to elevate the experience with an exciting new soundscape, blending the melodies of Bollywood with the pulsating beats of Hip-Hop, along with art and cultural experiences, truly exemplifying the brand philosophy of Living It Large.”

Yatish Mehrishi, CEO of ENIL said “Royal Stag BoomBox is all about bringing people together through the magic of music—it’s where innovation meets culture, and tradition blends seamlessly with modern vibes. At ENIL, we’re excited to collaborate on something so special that celebrates diversity and creates unforgettable moments. This edition is a step forward in raising the bar, delivering energy, joy, and memories that music lovers across the country will treasure for a lifetime.”

Complementing the live events, the property will also produce a series of in-studio collaborations, creating original tracks that blend melodic and hip-hop elements, to be released as singles with accompanying videos across digital platforms.

Seagram’s Royal Stag Boombox is a celebration of India’s diverse music culture, bringing together iconic artists and fresh talents to create a dynamic fusion of sounds. Music has been a key consumer engagement pillar for the brand through the years. The platform audaciously brings together Bollywood’s timeless melodies with hip-hop’s raw energy, creating the original sound of today’s generation – Generation Large. The festival’s unique format creates a distinct sound that resonates with today’s youth – a tribe that makes rather than follows trends. With the Hyderabad show setting the perfect tone for this season, the third edition promises to deliver an exhilarating series of performances across the shows.

This Chinese New Year, Golden Dragon at Taj Coromandel Chennai invites you to welcome the Year of the Wood Snake with an exquisite feast celebrating traditional flavours. The iconic Golden Dragon that showcases an authentic repertoire of Sichuan and Cantonese flavours, is regarded as Chennai’s finest Chinese restaurants with an expat master chef, Lian at the helm of the kitchen.

This Chinese New Year, with a specially curated menu that honours the rich heritage of Chinese cuisine, guests can indulge in a variety of delicacies prepared by our expat master chef, Lian. Chef Lian unravels some exceptional Chinese culinary treasures like Double Boiled Monkey Head Mushroom Broth, a light and flavourful soup infused with cilantro and carrots with sesame oil; Shi Hu Lamb Soup, a rich and hearty bowl with minced lamb, tomatoes and egg drop; and the Shuijiao, dumplings water-poached that offers both vegetarian and chicken varieties. Seafood enthusiasts will relish the Lobster, Ginger Scallion, with Shaoxing rice wine and sesame, and the Tiger Prawns, XO (Dry scallop sauce, wine, stir fried) for a robust taste. The Sea Bass, Pickled Chilli is another standout, steamed to perfection and served with seasoned oil and pounded chili.

Meat lovers can savour the Hang Zhou Tenderloin, stir-fried with okra and young green chillies, or the Braised Duck, Chilli Bean, slow-cooked with garlic and sesame. For a vegetarian delight, there is the Silken Tofu with Fresh Chilli Sauce and Poached Seasonal Vegetables with Exotic Mushrooms. Completing the feast, traditional Steamed Longevity Noodles and Moon Fan (Jasmine rice, Chinese 5 spice) are a must-have for the celebration. End the meal on a sweet note with the beloved Chinese Egg Tart and the unique Chen-Pi Ice Cream, made with sun-dried orange peel for a refreshing twist.

January 28, 2025, Kolkata, West Bengal: Bharti Airtel (“Airtel”), has augmented its network in and around the venue of the 48th International Book Fair in Kolkata that starts on 28th January. The company has installed 5 dedicated sites at the Boimela Prangan in Salt Lake City which will help offer seamless connectivity to all book lovers coming to the mela.

Ayan Sarkar, CEO, of West Bengal & Orissa, Bharti Airtel, said, “The Kolkata Book Fair is one of the largest congregations for book enthusiasts, and we take pride in partnering them each year by providing an exceptional network experience. Airtel has consistently led the way in delivering superior network services in the city, and we are committed to offering connectivity that enhances the essence of literature, education, and cultural exchange.”

As Asia’s largest and the world’s third-largest annual gathering, this event is expected to draw millions of literary aficionados from different walks of life to be a part of this 13 day event.

National, January 24, 2025: This Republic Day, PVR INOX, India’s largest and most premium cinema chain, presents the highly anticipated action-packed thriller SkyForce, marking the first mega-blockbuster release of 2025. A gripping tale based on true events, SkyForce celebrates the bravery, sacrifice, and patriotism of the Indian Air Force, offering an exhilarating cinematic experience perfect for the Republic Day weekend.

The film marks the highly anticipated return of Bollywood’s Khiladi Akshay Kumar to the big screen and introduces Veer Pahariya, who makes his acting debut as a fearless Air Force officer. Pahariya’s performance has already generated significant buzz, and moviegoers are eagerly awaiting his portrayal of a hero in the sky. Paired with a strong supporting cast including Sara Ali Khan and Nimrat Kaur, SkyForce promises to deliver a cinematic experience that will leave audiences on the edge of their seats.

SkyForce follows India’s elite air force squadron as they undertake daring aerial combat missions to defend the skies, delving into themes of valor, dedication, and love for the nation. This high-energy film, made for the grand theatrical experience, offers breathtaking visuals and a strong patriotic theme, making it the perfect choice to honor the nation during this significant occasion.

“SkyForce, with its patriotic theme, is the perfect cinematic experience that brings families together to celebrate. This highly anticipated Akshay Kumar blockbuster is made for the big screen, and we expect a 20% surge in footfalls during the Republic Day weekend. The response has been highly encouraging, and we’re excited to offer audiences the chance to experience it in all its glory.” – said Mr. Kamal Gianchandani, Chief Business Planning & Strategy, PVR INOX Ltd.

Don’t miss out on this chance to soar high with SkyForce, celebrate the courage and sacrifice of our armed forces, and kick off 2025 with an unforgettable cinematic experience.

Chennai, January 24, 2025: In a move that reinforces its growing footprint in India’s aviation sector, Çelebi India has been chosen as the ground handling partner for SpiceJet at Chennai International Airport (MAA). This strategic collaboration, effective immediately, is set to enhance the passenger and operational experience for SpiceJet flights at one of India’s busiest airports.

SpiceJet has recently bolstered its network by adding over 60 new flights, offering passengers better connectivity and more travel options. Notably, by the end of 2024, the airline introduced UDAN flights connecting Shivamogga (Karnataka) with Chennai and Hyderabad, and also launched double-daily flights between Chennai and Kochi, further strengthening regional connectivity, making Chennai one of the important sectors for the airline.

Çelebi proudly continues its partnership with SpiceJet at Chhatrapati Shivaji Maharaj International Airport (CSMIA) and Manohar International Airport, Goa. This extended mandate for a crucial sector like Chennai highlights Celebi’s expertise as a premier ground-handling service provider and reinforces the strong relationship cultivated with Spicejet as a trusted partner for the airline at these strategic locations.

Speaking on this partnership, Mr. Tauseef Khan, CEO – of Çelebi Ground Handling – India, said “Driven by increasing passenger volumes and substantial investments from both domestic and international carriers, India’s dynamic aviation environment calls for ground handling solutions that combine decades of experience with cutting-edge technology and modern practices. At Celebi, we take pride in offering this unique blend, delivering seamless, efficient, and innovative services that make us the trusted partner of choice for airlines navigating this exciting new era of Indian aviation. Being entrusted by SpiceJet for their ground handling needs at Chennai Airport is a testament to Çelebi’s unwavering focus on service excellence, operational reliability, and innovation. This milestone aligns with our vision of enhancing India’s aviation infrastructure and delivering superior experiences for passengers and airlines alike.”

Mr. Gavin Jeffries, Regional Manager South Region, SpiceJet, added “SpiceJet’s collaboration with Çelebi India has been instrumental in ensuring smooth and efficient operations at key airports, including Mumbai and Goa. We are delighted to extend this partnership to Chennai, where Çelebi’s proven track record of reliability and service excellence will play a vital role in optimizing our ground operations. As a domestic carrier connecting millions of travelers across the country, it is essential to work with partners who align with our commitment to delivering a superior travel experience.”

Çelebi India is renowned for its comprehensive ground handling services, which include passenger and baggage handling, aircraft ramp services, and more, provided to some of the world’s leading airlines. Operating at major Indian airports including Mumbai, Delhi, Bengaluru, Goa, Hyderabad, Ahmedabad, Cochin, and Chennai, Çelebi is the preferred partner for both legacy carriers like British Airways and Qatar Airways and dynamic domestic airlines like SpiceJet.

This latest partnership marks another milestone in Çelebi’s journey to strengthen its presence in India while raising the bar for ground handling standards in the aviation industry.

Goa, January 24, 2025: ESCAPE Goa, a premium lifestyle destination curated by renowned designer Ritu Beri, hosted Creative Confluence, a remarkable event celebrating the union of creativity, culture, and sustainable infrastructure. The evening was graced by the Honorable Union Minister for Road Transport and Highways of India, Shri Nitin Gadkari, and Goa Tourism Minister, Shri Rohan Khaunte, whose presence added immense value to this initiative. The event began with a warm welcome and a guided tour of ESCAPE, immersing guests in its unique blend of art, culture, and innovation. The Ministers explored the venue’s cultural and creative essence, setting the tone for an inspiring evening of collaboration and dialogue.

Shri Nitin Gadkari’s heartfelt address captivated the audience, as he emphasized the critical role of traditional art, craft, and culture in shaping modern infrastructure. Reflecting on his tenure as the MSME Minister, he expressed gratitude to Ritu Beri for her contributions to modernizing handloom and handicrafts, stating, “Handloom and handicrafts are essential as they reflect our cultural identity. Progress must be rooted in the pillars of ethics, economy, ecology, and environment.”

The highlight of the evening was the Awards Ceremony, where Shri Gadkari presented accolades to distinguished individuals for their exceptional contributions to culture, art, and community:

-Mrs. Pallavi Dempo:
For championing education, culture, and community growth in Goa.
-Avinash Martin:
For redefining culinary artistry & global flavors.
-Orlando Noronha:
For enriching Goan culture by preserving the Mando and Fado.
-Ranjit Philapose:
For revolutionizing luxury hospitality with innovation.
-Ash Chandler:
The pioneer of Indian stand-up comedy, actor, and musician.
-Aloo Gomes Pereira:
For enriching and preserving Goan culture through Festa de Povo.
-Tomas Menezes:
For fostering the preservation and evolution of Goa’s cultural identity.

Followed by high tea, featuring a thoughtful fusion of traditional Goan flavors and modern culinary sophistication. The Ministers engaged with esteemed guests, including MLAs, Sarpanchs, and creative minds, fostering meaningful discussions about building sustainable, creative visions for the future of infrastructure. Shri Gadkari even expressed his admiration for ESCAPE and shared a personal desire to reside in Goa someday, reflecting his fondness for the state’s vibrant culture. ESCAPE’s Creative Confluence proved to be an inspiring celebration of innovation, tradition, and sustainability. By weaving together creativity and community, the event left attendees deeply motivated to envision a harmonious blend of culture and development for a brighter future.

 

By Dr. Vikas Gupta, CEO and Chief Investment Strategist, OmniScience Capital

As India prepares for the Union Budget 2025 on February 1, 2025, expectations are running high, with an estimated ₹53 lakh crore plan in the works. This budget is poised to address pressing economic concerns while paving the way for sustained growth through infrastructure development, manufacturing incentives, and tax reforms. We anticipate a capital expenditure-heavy, infrastructure-oriented budget focused on development rather than the provision of individual freebies. Such an approach is expected to drive revenue and earnings growth over the next few years. Furthermore, with the Reserve Bank of India likely to cut interest rates, market conditions appear favorable. The Nifty index could potentially witness a 15–20% increase over the year.

Investors, businesses, and individual taxpayers should closely monitor these developments as they unfold, as they will significantly influence the country’s economic trajectory and the broader investment landscape.

A Shot in the Arm for Consumption
The government’s primary focus appears to be reigniting consumption to counter the slowdown in GDP growth observed in the past quarter. To achieve this, there is growing talk of providing income tax relief for salaried taxpayers. By increasing their disposable income, the government aims to boost purchasing power and stimulate consumer demand, a critical driver of economic growth.

Infrastructure: A Catalyst for Employment and Growth
With India’s young workforce expanding rapidly, the budget is likely to allocate increased funds for infrastructure projects, including smart cities, national highways, and rural connectivity. Investments in these sectors are expected to create employment opportunities and drive economic momentum, contributing to a robust foundation for long-term development.

Streamlining Tax Laws and Direct Tax Code Developments
The Income Tax Department has received over 6,500 suggestions from stakeholders aimed at simplifying tax laws. A Central Board of Direct Taxes (CBDT)-led committee is reportedly working on removing outdated provisions and easing compliance requirements. The revised tax framework is expected to reduce the current 298 sections and 23 chapters into a more streamlined format.

While the long-awaited Direct Tax Code (DTC) is in the works to replace the Income-tax Act of 1961, the upcoming budget might not feature major structural changes in direct taxes. However, individual taxpayers could benefit from minor relief measures, such as revised tax slabs, aimed at combating inflation. These changes could make additional cash available to households and further stimulate consumption.

Focus on Simplification and Rationalisation
The government appears focused on simplifying tax laws gradually, with special attention to rationalising the Tax Deducted at Source (TDS) provisions. Sources indicate that the current complex TDS structure could be consolidated into 3-5 broad categories with simplified rates. This streamlining effort could significantly reduce compliance burdens for taxpayers and businesses alike.

Tax rationalisation, long overdue, remains a pressing issue. While efforts have been made to address this through proposals like the draft Direct Tax Code, progress has been slow. The government’s current strategy seems to favor addressing existing challenges within the current framework rather than introducing entirely new legislation.

Addressing Tax Litigation Challenges
One of the critical issues that the budget must tackle is the ongoing challenge of tax litigation. Significant sums remain stuck in litigation under the current Income Tax Act, creating uncertainty for taxpayers and delaying revenue collection for the government. Addressing these bottlenecks could improve the ease of doing business and provide greater certainty for both taxpayers and the tax department.

Incentives for Manufacturing and Industry
As part of its growth strategy, the government is expected to extend the low-tax regime to companies setting up new manufacturing units in India during the financial year 2025-26. This measure aims to attract investments, generate employment, and boost industrial activity.

Sectors such as textiles, footwear, gems and jewellery, electric vehicles, pharmaceuticals, and renewable energy are likely to benefit from targeted incentives, including Production Linked Incentive (PLI) schemes. These incentives could enhance India’s competitiveness in global markets and foster self-reliance in critical areas like electronics and solar panel manufacturing.

Balanced Measures for Economic Growth
While major structural reforms may be on hold, the India Budget 2025 is expected to deliver a balanced mix of measures addressing immediate challenges while laying the groundwork for sustained growth. By prioritizing consumption, simplifying tax laws, and incentivizing manufacturing, the government is paving the way for economic recovery and long-term resilience.