The business and political leaders in Pune described the 2024-25 Budget as "mixed," with realtors praising it and NCP MP Dr Amol Kolhe criticising the central government for neglecting Maharashtra.
The Union Budget was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Tuesday.
Read the reactions here:
Krishnakumar Goyal, Chairman and Managing Director of Kohinoor Group
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A massive investment of ₹11 lakh crore will be directed towards the infrastructure sector. This substantial funding is expected to positively impact various industries. The youth, a significant segment of home buyers in our country, will benefit from the budget's focus on job creation and skill development, which is likely to indirectly support the real estate sector in the coming years. The budget includes provisions for ₹10 lakh crore for urban housing, targeting the needs of the poor and middle class in urban areas. Additionally, the construction of 3 crore houses under the Pradhan Mantri Awas Yojana, a special scheme for women seeking property, and a redevelopment package for 14 cities with populations exceeding 3 million will invigorate the sector.
Krishnakumar Goyal, Chairman and Managing Director of Kohinoor Group |
Shashank Paranjape Managing Director - Paranjape Schemes Construction Ltd
If the proposed measures such as reduction in stamp duty for first homebuyers and women buyers is implemented then it will provide a much needed boost to the real estate market.
Shashank Paranjape Managing Director - Paranjape Schemes Construction Ltd |
AAP Spokesperson Mukund Kirdat
The budget neglected states like Delhi and Punjab, governed by opposition parties, and overlooked Maharashtra's needs despite the coalition's presence in power. In contrast, Bihar and Andhra Pradesh have received significant funding. This budget deviates from addressing core national needs, lacking consistency in basic amenities and welfare programs. Notably, there are no new provisions for education, health, or social justice. As college education becomes increasingly unaffordable for the middle class and half of the population earns less than one lakh annually, educational loans remain the only option now. The promise of boosting employment through internships for one crore students is misleading. Additionally, expectations regarding agricultural produce guarantees, junior pension schemes, and Agniveer have not been met
Mukund Kirdat | File Image
CA Rajesh Agrawal
The budgetary allocation for skill development and free education saw an improvement compared to last year's budget and aligns with our expectations. The middle class is likely to benefit from these measures. The government has placed a stronger emphasis on skill development. States like Andhra Pradesh might see additional benefits from the 2024 budget. Overall, the approach taken in creating this budget appears sound. In my view, this budget is not focused on the upcoming elections but is designed to be beneficial for all.
CA Rajesh Agarwal |
Gitanjali Kirloskar, Chairperson & MD Kirloskar Systems Limited
The emphasis on women and youth in the Union Budget is a welcome move for the working class. Women's participation will be significantly boosted by creating hostels for women in collaboration with the industry. This initiative will lead to a more inclusive and diverse manufacturing sector
Gitanjali Kirloskar, Chairperson & MD Kirloskar Systems Limited |
Shirur MP Dr Amol Kolhe
Budget is a major letdown for Maharashtra. The NDA government is trying to appease Bihar and Andhra Pradesh by fulfilling the demands of JDU and TDP, the parties on which the government relies for support. There is no reason for anyone to be upset about Bihar and Andhra Pradesh receiving funds. However, Maharashtra, the state that contributes the highest revenue to the country, got nothing.
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Shirur MP Dr Amol Kolhe |
Dheeraj Ghate, BJP Pune President
The budget emphasises education, employment, and skill development, with a notable focus on job creation in the manufacturing sector. It also includes support for working women through various schemes and enhances loan capacities under the Mudra Yojana. The Pradhan Mantri Garib Kalyan Anna Yojana has been extended for another five years. Infrastructure funding has been increased, with ₹814 crores allocated for the Pune Metro and ₹690 crores for the Mula-Mutha river conservation project. Presented by Finance Minister Nirmala Sitharaman, this budget aims to provide relief to common citizens and foster a developed India. I welcome these initiatives.
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