Bhubaneswar: Pankaj Lochan Mohanty, Chairman, Odisha State Development Council, ASSOCHAM has lauded the Union Budget presented in Parliament by Union Minister Finance and Corporate Affairs, Nirmala Sithraman.
Ace Industrialist and Chiarman of MGM Group, Shri Mohanty in his reaction pointed out that the Union Budget 2025 lays a strong foundation for growth, inclusion, and investment.
This Union Budget aligns with India’s vision for sustainable growth, financial inclusion, and a resilient economy, creating new opportunities for Odisha’s industries and workforce.
The PM Dhan Dhanya Krishi Yojana and the six-year mission for pulses will boost agricultural productivity and farmer incomes. Increased Kisan Credit Card limits will further support rural credit access.
ASSOCHAM Odisha Chief said that the Union Government’s focus on Ease of Doing Business, skilling initiatives, and critical minerals will drive industrial growth and innovation.
Expanding IIT infrastructure, setting up AI Centres of Excellence, and boosting medical education will strengthen India’s knowledge economy. Tax relief measures will enhance disposable income, boosting household spending and driving the consumer economy.
Additionally, the Union Budget places a strong emphasis on medical tourism, aiming to position India as a global hub for healthcare services. This will not only attract international patients but also create new opportunities for the healthcare sector and allied industries.
A key takeaway from Budget 2025 is the Rs 10,000 crore Fund of Funds to boost startups, encouraging entrepreneurship and strengthening India’s innovation ecosystem.
Ace Sports Promoter Pankaj Lochan Mohanty has also lauded bigger allocation for Sports in the Union Budget.
The Union Government’s flagship Khelo India programme to scout and nurture athletes at the grassroots level was the biggest beneficiary as the allocation for sports and youth affairs was hiked substantially by Rs 351.98 crore in the Union Budget.
The ambitious scheme has been allocated Rs 1,000 crore for the financial year 2025-26. This is Rs 200 crore more than the grant of Rs 800 crore in 2024-25.
Overall, the Ministry for Youth Affairs and Sports was designated Rs 3,794.30 crore.
The assigned amount for assistance to National Sports Federations has also been hiked marginally from Rs 340 crore to Rs 400 crore.
India is currently pushing through with an ambitious bid to host the 2036 Olympic Games for which a letter of intent has been submitted to the International Olympic Committee, said ASSOCHAM Chief of Odisha Development Council.