UNION BUDGET
2025-2026A VISION FOR GROWTH
Our Budget Take
Perspectives for driving inclusive growth and building a resilient, future-ready economy.
ROAD AHEAD
A Blueprint for ‘Sabka Vikas’: Accelerating India’s Economic Growth
The 2025-26 Budget presents a compelling vision for ‘Sabka Vikas’, signalling the strategic approach towards sustainable development, financial stability, and balanced growth across sectors and regions. Focusing on Atmanirbhar Bharat, the Union Budget 2025-26 reflects the government’s ongoing efforts to drive economic growth, promote inclusive development, boost private sector investments, uplift household confidence, and increase the spending power of India’s growing middle class.
POST BUDGET 2025-26
Our Experts Speak
A forward-looking blueprint, Budget 2025 stood out with one of the most anticipated and talked about changes - recalibration of personal income tax. A move that will put more money in the hands of the middle class and trigger consumption, savings and investments. The reduction in direct tax collection due to reduced income tax rates will lead to a more buoyant economy. Beyond taxes, the Budget identified priority social sector areas like education, health, social justice and empowerment, women and child development which received higher allocations showing the government’s intent to strengthen welfare. However, as seen in the past, the real challenge will be to ensure effective implementation of initiatives to ensure the desired impact.
Budget Special Brief

The Union Budget 2025 marks a significant step in India's journey towards energy transition and net-zero goals. With a strong focus on the Atmanirbhar Mission, the budget underscores our nation’s commitment to clean energy, economic resilience, and sustainability. The much-anticipated push for nuclear power and cleaner energy alternatives sends a clear message—India is strengthening its position as a global thought leader in low-carbon development.
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The Budget 2025 push in urban financing through the Urban Challenge Fund (UCF) emphasizes the need for cities to transition towards self-sufficient financing and investment models. The larger cities now have a dedicated scheme to accelerate their adoption of innovative financing mechanisms, such as bonds and Public-Private Partnerships (PPPs), while harnessing the lessons learned from traditional scheme financing and leveraging existing infrastructure. Tier 2 and Tier 3 cities will be encouraged to design their projects through better Capex support through bonds and PPPs. While enabling governance mechanisms still needs to be strengthened, the UCF scheme can act as a strategic shift that enables cities to take charge of their financial futures, deploying a diverse range of financing tools to fuel growth, drive infrastructure development, and enhance public services. One of the finest and most progressive budgets in a decade, pushing cities to manage their funds and investments

The 2025-26 Budget presents a compelling vision for India's health tech startups. The announcement to establish 200 Day Care Cancer Centres in district hospitals in 2025-26 creates immense opportunities for healthcare innovators. The government's approach to blended finance, demonstrated through the new Fund of Funds with a ₹10,000 crore contribution and focus on public-private partnerships, will catalyze private investment in healthcare innovation. Combined with doubling the credit guarantee cover to ₹20 crore and extending startup benefits until 2030, these measures create a robust foundation for health tech startups to scale and make quality healthcare more accessible and affordable across India

Building upon the foundations laid by last year's measures, Budget 2025-26 proposes the establishment of five National Centres of Excellence for Skilling. Key initiatives such as the establishment of 50,000 Atal Tinkering Labs and the Bharatiya Bhasha Pustak Scheme demonstrate a forward-thinking approach to fostering critical thinking and embracing linguistic diversity. Collectively, these measures are set to create a robust and dynamic educational system that is not only responsive to the needs of today's learners but also capable of anticipating and adapting to future challenges. This comprehensive approach promises to transform India into a global hub for innovation and skill development, ultimately contributing to sustainable growth and development in the decades to come.
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The Union Budget 2025-26 heralds a transformative shift in India’s workforce strategy, reinforcing the ‘Make in India, Make for the World’ vision through cutting-edge skilling initiatives, global partnerships, and industry-driven training programs. By embedding digital fluency, entrepreneurial agility, and future-ready capabilities, this budget lays the foundation for a resilient, innovation-driven economy. As a catalyst for large-scale human capital transformation, it fosters economic competitiveness, job creation, and a globally recognized talent ecosystem, positioning India at the forefront of the new-age workforce revolution.
