Finance Minister Nirmala Sitharaman’s Budget 2025 has sparked a blend of optimism and caution in various industries, as it brings forward several key initiatives aimed at boosting growth while also highlighting some challenges that need attention.

For the real estate sector, the introduction of the ₹1 lakh crore Urban Challenge Fund is seen as a positive step toward transforming cities into growth hubs, potentially unlocking new opportunities for development. Additionally, the ₹1.5 lakh crore interest-free loan for infrastructure projects is expected to fuel urban expansion, benefitting both housing and commercial projects. However, Keventer Realty’s COO, Mr. B.P. Singh Roy, noted, “While these measures aim to boost demand, rising construction costs and regulatory hurdles still pose concerns for developers.”

In the healthcare sector, the budget introduces several measures aimed at making medical treatments more accessible. The decision to exempt 36 life-saving drugs and 37 essential medicines from Basic Customs Duty is being hailed as a breakthrough. Mr. Kanad Maitra, Director at AM Medical Centre, expressed his approval, stating, “This step will make critical treatments more affordable for patients, and the establishment of cancer day care centres will enhance healthcare infrastructure.”

The hospitality and restaurant sectors also saw some relief with the middle-class tax exemption, which could boost consumer spending. Mr. Gautam Purakayasthya, Owner of Tamarind Restaurant, said, “While the tax relief is a welcome move, the hospitality sector still hopes for infrastructure status and GST relief to unlock its full potential.”

The budget also lays out a clear roadmap for long-term growth, with significant investments in MSMEs, agriculture, and innovation. Mr. Ravi Todi, Managing Director at BTL EPC Ltd, shared, “This budget is designed to fuel business growth, create jobs, and strengthen India’s economic foundation.”

However, challenges like rising raw material costs, particularly in industries such as confectionery and interiors, were highlighted by Mr. Ankit Aditya, Vice Chairman of Aditya Group. He noted that strategic financial planning would be necessary to navigate these cost pressures, while also expressing hope for increased support in infrastructure and MSME incentives.

As businesses look toward the future, the success of this budget will depend on its swift and effective implementation, addressing both the opportunities and challenges it presents.