Industry welcomes Budget 2025-26, calls it responsible and balanced

The Union Budget 2025 has been hailed as a balanced and forward-looking financial roadmap, with a strong emphasis on agriculture and rural development. Finance Minister Nirmala Sitharaman’s proposals, including the PM Dhan Dhanya Krishi Yojana and the National Mission on High Yielding Seeds, aim to boost productivity, improve irrigation, and enhance access to advanced technology. Industry leaders like Ajay Shriram of DCM Shriram Ltd. and Simon Wiebusch of Bayer have welcomed the budget’s focus on sustainable farming, research collaboration, and infrastructure, highlighting its potential to transform India's agrarian economy and ensure long-term food security.

Ajay Shriram, Chairman and Senior MD, DCM Shriram Ltd, in his budget reaction said that the Finance Minister, Mrs Nirmila Sitaraman has presented a responsible and balanced budget, which meets the conflicting demands of tax concessions and yet spending for long term benefit. She has resisted profligacy and bettered the target for fiscal deficit. It ticks the boxes on all fronts - exports, rural prosperity, agriculture, and spurring consumption. These augers well for the long term growth of the economy.

Ajay Shriram, Chairman and Senior MD, DCM Shriram Ltd

From the perspective of agriculture, Finance Minister Nirmala Sitharaman rightly called it the first engine of development. The range of areas identified for attention are all significant, ranging from crop diversification to yield improvement and growth in pulses and increase in irrigation. I am delighted at the importance given to the National Mission on High Yielding Seeds and Mission on Cotton Productivity. It is well acknowledged that Agriculture  Research gives a much higher return on investment. The full benefit of such an initiative will accrue when there is greater collaboration between public research and private sector research, adoption of uniform policies across States, and a time bound approval of new seeds. This is critical that India is not left behind in the race for advanced technology.

Simon Wiebusch, Country Divisional Head, Crop Science Division of Bayer in India, Bangladesh and Sri Lanka said that the Union Budget outlines a comprehensive strategy for enhancing agricultural productivity and sustainability, aligning with the vision of Viksit Bharat. The Finance Minister’s initiatives, such as the PM Dhan Dhanya Krishi Yojana, which aims to benefit 1.7 crore farmers across 100 districts, are particularly noteworthy.

Under this, the emphasis on improving post-harvest storage, irrigation, and credit availability is expected to empower farmers and push economic growth in rural areas. Additionally, the establishment of large-scale clusters for vegetable production and the support for FPOs and start-ups in promoting vegetable supply chains will help to not only promote rural prosperity, boost horticulture sector but also meet the nutrition needs of the country. The focus on climate-resilient crops, dedicated missions focusing on development and distribution of high yielding seeds and guaranteed procurement, will further enhance food security and self-reliance in key areas like oilseeds and key pulses. Additionally, access to new technology and dedicated support for boosting cotton production will further strengthen the sector.

He said, “At Bayer, we are committed to supporting these initiatives that align with our mission to advance sustainable agriculture. We look forward to collaborating with the government and other stakeholders to implement these measures effectively and drive positive change in the agricultural sector.”

Shashi Kant Singh, Partner, Agriculture and Food, PwC India said, “With the allocation of INR 1.7 Lakh crore towards agriculture, this year’s budget builds on the long-term vision for the agriculture sector. The sector could get a fillip through the Dhan Dhanya Krishi Yojana for 100 districts. The crop specific initiatives on productivity enhancement and crop diversification along with a curated push towards high yielding seeds (HYS) is another welcome step. Continued support towards empowering cooperatives and farmer producer organisations (FPOs) as well as focused initiatives for fisheries reinforces the Government’s commitment towards inclusive and sustainable growth for the agriculture sector.”