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