The budget's strategic initiatives will have a far-reaching impact
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REGIONAL, February 01, 2025: The Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman lays out a visionary roadmap for India’s economic growth, with a strong focus on regional development, infrastructure, tourism, MSMEs, and ease of doing business. The budget's strategic initiatives will have a far-reaching impact on different industries in the Northeastern Region accelerating its transformation into a more connected, prosperous and investment-friendly.
Vikas Agarwal, MD of SM Developers, a leading group that pioneers Infrastructure Development & Region’s Real Estate and Hospitality Sector termed the budget as a game-changer, stating, “The Union Budget 2025-26 is a game-changer for the infrastructure and real estate sector. The ₹1.5 lakh crore interest-free capital expenditure loans for states, coupled with the extended Jal Jeevan Mission and urban redevelopment initiatives, will drive large-scale development across India. The SWAMIH Fund-2, aimed at completing one lakh stalled housing units, will bring relief to homebuyers and developers alike. The push for public-private partnerships in infrastructure, asset monetization, and logistics development ensures that India’s urban and rural landscapes evolve at a rapid pace.”
While commenting the budget as transformative in hospitality and tourism sector, Vikas Agarwal, MD of SM Developers, added “The Union Budget 2025-26 presents a transformative vision for the tourism and hospitality sector, especially in North-East India. The focus on expanding the UDAN scheme to enhance regional air connectivity, the development of the top 50 tourist destinations, and performance-linked incentives for states will significantly boost tourism in Meghalaya and the entire North-East. The government’s emphasis on streamlining e-visas and providing MUDRA loans for homestays will empower local entrepreneurs and attract more domestic and international tourists. This budget truly recognizes the immense potential of our region’s tourism industry and lays the foundation for sustainable growth in the hospitality sector.”
Ankit Poddar of Poddar Group remarked, “The Union Budget 2025-26 successfully balances economic growth with social welfare. The progressive reduction of income tax liability, particularly the introduction of zero tax for individuals earning up to ₹12 lakh, provides a significant relief to the middle class. This enhancement will undoubtedly boost their spending power and confidence.”
He emphasized the budget's focus on the automobile sector, stating, “The emphasis on clean tech manufacturing along with incentives for electric vehicle (EV) battery production and enhanced infrastructure development is a pivotal step toward fostering sustainable mobility in India. However, it's crucial to note that while these incentives are commendable, the persistent challenges surrounding electricity availability in the country remain a significant hurdle.”
Ankit further highlighted how the streamlined regulatory framework, along with investment incentives and ease of doing business measures, will foster a more competitive and investor-friendly environment. “This budget represents a bold initiative toward positioning India as a global leader in the automobile industry while simultaneously ensuring crucial economic relief for millions of families,” he concluded.
As the Northeast looks ahead, the budget promises a tentative yet hopeful shift towards progress and sustainability, subject to effective implementation across sectors.
The budget presented certain crucial elements for the country’s Education Sector. Principal of Modern English School, Pankaj Das, Director Modern English School, Kahilipara said, “The Union Budget 2025-26 has laid a strong foundation for the future of education in India. The expansion of IITs, the addition of 10,000 new medical seats, and the establishment of five National Centres of Excellence for Skilling will equip students with industry-relevant knowledge and expertise. The government’s decision to provide broadband connectivity to all government secondary schools will bridge the digital divide, ensuring that students in rural and remote areas, including the North-East, have equal access to quality education. Furthermore, initiatives like the Bharatiya Bhasha Pustak Scheme will enhance learning in regional languages, making education more inclusive. This budget reflects a progressive vision to empower the youth and strengthen India’s knowledge economy.”
Anup Poddar, one of the Managing Directors of Health City Hospital, the leading multi-specialty hospital in the Northeast, expressed strong support for the budget's healthcare provisions. He stated, “The Union Budget 2025-26 marks a significant advancement for the healthcare and pharmaceutical sectors. The government's commitment to enhancing access to life-saving medicines is particularly commendable. By removing customs duties on 36 critical life-saving drugs, including treatments for cancer and rare diseases, the budget is poised to decrease treatment costs substantially, benefiting millions of patients across the country.”
Moreover, the budget allocates ₹20,000 crore for research and development, a significant investment that will drive innovation in drug development and medical technology. Mr. Poddar emphasized, “This substantial funding will catalyse advancements in healthcare solutions, ensuring that India remains at the forefront of pharmaceutical innovation.”
In a transformative move for local healthcare delivery, the budget proposes establishing Day Care Cancer Centres in every district hospital, a decision that Poddar lauded as “a visionary step” in making essential healthcare services more accessible to communities. “This initiative will empower local healthcare providers and bring critical cancer care closer to rural and underserved populations,” he added.
The budget proposes enhanced fiscal incentives for telemedicine and digital health solutions, aiming to improve healthcare accessibility in remote regions. Poddar concluded, “These initiatives represent a robust framework for ensuring better healthcare access while fortifying India’s position as a global leader in the pharmaceutical and healthcare sectors. We look forward to seeing these policies translated into tangible improvements in the lives of our citizens.”
As industrialists from the Northeastern region assess the potential of these initiatives, the 2025 budget is seen as a pivotal moment for the healthcare landscape, setting the stage for comprehensive reform and growth in the coming years.
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