**FICCI Urges Government to Prioritize Investments and Reforms in Budget 2025**
Finance Minister Nirmala Sitharaman is gearing up to present the Union Budget 2025, and expectations are high. The Federation of Indian Chambers of Commerce and Industry (FICCI) is calling for a continued focus on investments and next-generation reforms to propel India’s economic growth forward.
**Expectations for Budget 2025**
FICCI has put forth a series of recommendations for the upcoming budget, emphasizing the importance of maintaining a strong emphasis on investments. According to FICCI, the government’s push on capital expenditure (capex) in recent years has been instrumental in driving economic recovery and sustaining growth momentum. In light of ongoing global challenges, FICCI is urging the government to prioritize public capex across physical, social, and digital infrastructure to sustain growth. The proposed increase in capex by 15 percent for FY26 over the previous fiscal year is seen as a crucial step towards bolstering economic resilience.
**Next Generation Reforms**
Additionally, FICCI is advocating for the implementation of next-generation reforms in the factor market. The organization commends the government for its efforts in improving the ease of doing business and reducing operational costs. FICCI highlights the significance of creating inter-state institutional platforms, akin to the GST Council, to drive reforms in crucial areas such as land, labor, and power. Collaboration and consensus-building at the state and central levels are deemed essential for advancing these reforms effectively.
**Expert Insights**
In a statement, FICCI emphasized the resilience displayed by the Indian economy in the face of challenges, noting the positive growth projections outlined in the Economic Survey 2023-24. While the growth rate may have moderated slightly, the overall outlook remains optimistic, especially given the global economic context. FICCI lauded the government’s commitment to balancing various objectives in previous budgets, underscoring the importance of sustainable and inclusive growth strategies.
**Takeaway: Investing in India’s Future**
As we await the unveiling of Budget 2025, the message from FICCI is clear: sustained investments and forward-looking reforms are essential for India’s economic progress. By prioritizing capital expenditure and embracing innovative reforms, the government can pave the way for a resilient and dynamic economy that benefits all stakeholders.
So, as we anticipate the budget announcement, let’s reflect on the role of investments and reforms in shaping India’s future. How can we contribute to this collective vision of progress and prosperity? The answers may lie in our commitment to building a stronger, more inclusive economy for generations to come.
