India's Union Budget 2024-25 Presents Mixed Reactions

The Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, emphasizes healthcare access, innovation, and skill development, receiving mixed reactions from various sectors. The budget exempted three critical cancer medicines from customs duties, aiming to ease financial burdens on patients, and extended customs duty waivers for Patient Assistance Programs until 2029. While industry leaders welcomed the focus on employment and skill development, they expressed caution about the budget's implementation and its limited benefits for the salaried class. The hospitality sector, although hopeful, found the budget lacking in substantial measures to address key challenges like GST rationalization and infrastructure status. Indirect support for the AVGC sector was noted, particularly through investments in sports infrastructure in Bihar, while the abolition of angel tax for startups also received attention. Overall, while there are positive initiatives, concerns remain over the effectiveness of the budget in transforming the economic landscape.