Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd.
“As we approach the upcoming budget, the real estate sector is optimistic about reforms that can act as growth catalysts and enhance operational efficiency. Revising the current tax exemption limit on housing loans to ₹5 lakhs, in line with rising property prices and construction costs, could provide significant relief to homebuyers. This step would directly support millions of aspiring homeowners and boost demand across the sector.
Equally transformative would-be granting industry status to real estate, a move capable of invigorating over 200 allied sectors. Such recognition would foster job creation, enable skill development, and amplify economic activity, further solidifying the sector’s position as a cornerstone of India’s economy. Similarly, the formulation of the CLSS scheme and the creation of affordable housing zones, akin to SEZs, could provide targeted incentives and address critical demand-supply gaps.
To further support homebuyers, waivers of stamp duty and GST for first-time homebuyers would offer much-needed financial relief. Strategic reforms, such as adjustments to GST input tax credit regulations, could reduce developers’ tax burdens, potentially stabilizing property prices and making housing more accessible. Introducing a ₹5 lakh subsidy for housing loans up to ₹1 crore would also provide crucial financial support to urban and semi-urban homebuyers.
Broadening the definition of affordable housing to include properties priced up to ₹1 crore would align with evolving market dynamics and strengthen the government’s vision of ‘housing-for-all.’ These measures, if implemented, could unlock tremendous potential, propelling the sector toward sustainable growth while contributing significantly to the nation’s development goals. The real estate industry is poised to play a defining role in India’s journey toward ‘Viksit Bharat 2047.”
Vineet Nanda, Director Sales & Marketing, Krisumi Corporation
Budget 2025 must strike the right balance between fiscal prudence and economic stimulus to sustain India’s growth momentum. A key priority should be boosting consumption by rationalizing income tax rates, ensuring that more disposable income reaches the hands of consumers, thereby driving demand across multiple sectors. At the same time, the budget must take a bold, growth-driven approach with a strong emphasis on capital expenditure, particularly in infrastructure development. Investments in roads, highways, and transport networks will not only enhance connectivity but also generate employment and attract further private investments.
Equally crucial is the focus on digital infrastructure, as a well-connected, technology-driven economy is essential for India’s competitiveness on the global stage. Strengthening high-speed internet access, expanding data centers, and promoting digital inclusion will empower businesses and individuals alike. Furthermore, green technology must be a core pillar of the budget strategy. Increased investments in renewable energy, electric mobility, and sustainable urban development will pave the way for a cleaner, more resilient economy while aligning India with global climate goals.
A well-crafted budget that prioritizes infrastructure expansion, technological advancement, and sustainability—while ensuring fiscal stability—will not only fuel short-term economic activity but also position India for long-term prosperity. This is the time to make decisive investments that strengthen India’s global standing and create a future-ready economy
Sahil Agarwal, CEO, Nimbus Group
“The upcoming budget holds significant importance as it will be the first full-year budget of the Modi 3.0 government. We anticipate major announcements aimed at benefiting the real estate and infrastructure sectors, which are critical growth engines for the economy and support numerous allied industries.
One key area of focus should be the rationalization of taxes and duties levied on homebuyers, which in many states exceed 12% of a property’s value. In the previous budget, the finance minister urged state governments to address this issue, but significant progress has yet to be made. We hope this budget includes provisions to streamline these charges and provide much-needed relief to homebuyers. Additionally, we urge the government to revisit the long-term capital gains (LTCG) tax on real estate and consider providing relief in this area.
Steps toward GST reforms for the real estate sector are also necessary to make it a more attractive investment option. Furthermore, increasing the tax deduction limit under Section 24(b) for home loan interest, currently capped at ₹2 lakh per annum, to at least ₹5 lakh would provide substantial financial relief. This is particularly relevant for homebuyers in metropolitan cities, where high property prices necessitate large home loans. Such a move could boost demand and promote homeownership.”
Udit Jain, Director, One Group
“Over the past few years, the prices of land and construction materials have risen sharply, not only in metropolitan cities but across the country. This, coupled with sustained demand, has significantly driven up property prices, making homeownership increasingly challenging for many. As a result, the real estate sector, particularly the housing segment, requires robust government support to make home buying more affordable for aspiring buyers.
Government intervention through targeted incentives could help alleviate the financial burden on homebuyers. One crucial area to address in the upcoming budget is the enhancement of the income tax deduction limit on home loan interest under Section 24(b), which has remained unchanged for over a decade. Increasing this limit would provide much-needed relief, particularly for buyers in high-cost urban markets.
Another key measure is the extension and expansion of the Credit Linked Subsidy Scheme (CLSS). The government should consider raising the property price threshold for affordable housing eligibility, enabling more middle-income families to benefit from this scheme. Such an adjustment would not only boost demand but also encourage developers to focus on affordable housing projects, a segment currently experiencing a downturn in supply.
Additionally, rationalizing stamp duty rates, especially in Tier-II and Tier-III cities, could significantly stimulate housing demand among mid-income and low-income groups. High stamp duty rates often act as a barrier for homebuyers, and reducing them could make homeownership more accessible in these emerging markets.”
Pavan Choudary, Chairman, Medical Technology Association of India
“The high customs duty regime significantly increases the cost of medical devices, which undermines the government’s efforts to make affordable healthcare accessible to the masses through initiatives like Ayushman Bharat (PMJAY). Hence, we urge the government to consider reducing customs duty rates for products where domestic alternatives are not yet readily available”.
D. S. Negi, CEO, Rajiv Gandhi Cancer Institute & Research Centre
Budget 2025 is just around the corner, the cancer care sector has the potential to achieve significant reforms that ensure accessibility, affordability, and quality for all.
A key highlight of the previous Budget for the sector was the inclusion of the HPV vaccine, which safeguards against cervical cancer, helping protect future generations from one of the most preventable cancers. Including these vaccines in the National Immunization Program can ensure every child receives them automatically, much like the polio vaccine. With door-to-door services and widespread access, this initiative could drastically reduce the incidence of cervical cancer.
India has also made remarkable advancements with the launch of its first indigenously developed CAR T-cell therapy for cancer under the ‘Make in India’ initiative, hailed as a major breakthrough. Similarly, the first telesurgery in cancer care, performed by the Rajiv Gandhi Cancer Institute & Research Centre, has set a new benchmark in remote oncology treatment.
To build on these successes, the budget must prioritize digital health solutions such as telesurgery, electronic health records (EHRs), and AI-driven diagnostic tools to improve healthcare delivery. There should also be a strong focus on enhancing nationwide cancer screening programs and providing access to cutting-edge treatments like immunotherapy and personalized medicine.
Increasing healthcare spending to 2.5% of GDP, along with robust policy measures, is essential for creating a resilient healthcare system. Comprehensive support for cancer survivors—through rehabilitation, mental health services, and survivorship programs—will further improve their quality of life. High import duties on medical equipment, reaching up to 36%, significantly increase treatment costs, particularly for mid-sized operators and smaller cities. The Budget should provide relief from these duties to enable more hospitals acquire high-end equipment, making treatments more affordable and accessible.
Supporting primary healthcare centres is essential to ensure quality care and allow tertiary hospitals to focus on specialized treatments. Equipping tertiary government hospitals with advanced infrastructure is crucial to address the growing cancer burden, along with targeted policies for various cancer types, including rare ones.
By addressing these priorities, Budget 2025 can lead the way to a future where cancer care is accessible, innovative, and largely preventable.
Subbu Venkatachalam, Head of Marketing, Carborundum Universal Limited
Over the last few years, India has successfully navigated geopolitical dynamics. We have been instrumental in shaping strategic security dialogues in the region. Through a strong focus on self-reliance, we have cemented our position as a global defence manufacturing hub and improved our internal security posture. 2025 as the ‘Year of Reforms’ in Defence will take us further closer to our ambition of Atmanirbharta.
With the current allocation towards defence expenditure still below the Standing Committee on Defence’s recommendation of 3%, we have ample scope to augment spending for key priorities. My wishlist from this year’s defence budget announcement would be:
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Significant allocation towards capital outlay: This will allow domestic companies to bring more innovative technologies into the sector and enable military modernisation at scale.
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Incentives for domestic production: Expanding domestic production capacity and innovation capabilities is critical to adopting a dynamic military stance while strengthening export potential. This will also encourage domestic players to invest in cutting-edge manufacturing technologies, adhering keenly to globally benchmarked standards. This will promote greater reliability and responsibility in products and platforms.
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Provision to intensify R&D efforts: R&D is a key pillar to attaining self-reliance. Giving a boost to R&D, especially in advanced materials and futuristic technologies, will not only ensure the sector a key advantage but also give a fillip to exports. Increasing budgetary spends on R&D to 15% from the current 5%, as recently suggested by DRDO Chairman Dr. Samir V. Kamat, will help efficiently evolve defence technologies. This will significantly benefit India, especially in the area of co-developing next-generation aero engine capabilities.
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Allocation towards dedicated facilities for R&D, testing, and certification: This will help accelerate development lifecycles, bring down costs, and give impetus to research and innovation in strategic new-age nanomaterials.
Establishment of CoEs in research-led institutions: Investment towards developing the research wings at top-tier institutions will bring in innovation at a faster pace. This will help address a wide range of on-ground challenges, ultimately ensuring the highest standards of safety and protection for our soldier
