Modi 3.0’s First Budget: A Mixed Bag for Sectors, Hopeful Yet Disappointed Voices Emerge

Finance Minister Nirmala Sitharaman's first Budget under Modi 3.0 emphasizes fiscal consolidation and common man’s interests. Industry leaders offered mixed reactions, with appreciations for fiscal targets and infrastructure focus, but criticisms over insufficient support for Indian investors and the hospitality sector's structural challenges.

The first Budget of Modi 3.0, presented by Finance Minister Nirmala Sitharaman, maintains a focus on fiscal consolidation and common man’s interests. While industry leaders appreciate the fiscal targets and infrastructure initiatives, there's criticism over the insufficient measures for Indian investors and the structural challenges faced by the hospitality sector.

Hinduja Group Chairman Ashok Hinduja welcomed the focus on fiscal deficit reduction and infrastructure, calling it a good macroeconomic move, but highlighted the need for more support for Indian investors. Similarly, RPG Enterprises Chairman Harsh Goenka praised the budget as meticulous and well-researched, benefiting the common man.

On the other hand, the hospitality sector expressed disappointment. Pradeep Shetty of FHRAI criticized the budget for not addressing fundamental challenges such as GST rationalization and ease of doing business. Despite this, some sectors like the automobile industry and FMCG echoed positive sentiments, appreciating the emphasis on infrastructure and MSME support.