Union Budget 2025 receives mixed reactions from Ludhiana’s MSMEs
Budget 2025, presented by Finance Minister Nirmala Sitharaman on February 1, 2025, received mixed reactions from small businesses in Ludhiana. While a section of local industry stakeholders believes that the government’s move to raise the thresholds for capital investment and turnover criteria is a significant boost to the MSME (micro, small, and medium Enterprises) sector, some voiced their disappointment regarding the absence of special package for Punjab and the lack of rationalisation of goods and services tax (GST) rates.
Budget with ET
Tax calculator
Upkar Singh Ahuja, President, Chamber of Industrial and Commercial Undertakings (CICU), praised the Budget, calling it a “balanced” one. “Even though the MSME industry has not directly been given a relief, announcements such as a reduction in green tax and other infrastructural support may bear results in the long term, said Ahuja, highlighting the Budget’s focus on fulfilling India’s long-term dream of becoming the third-largest economy globally. “However, I would request FM to reduce corporate tax and GST on steel,” Ahuja added.
Click here to register for the Ludhiana event
However, Gurmeet Singh Kular, President of the Federation of Industrial and Commercial Organisation (FICO), shared mixed views on the recent budget announcements. He welcomed the revision in the MSME definition, calling it a positive step. However, he expressed disappointment over the suspension of the Credit Link Capital Subsidy Scheme (CLCSS), which was designed to support MSMEs in
