According to an interview with CavinKare CMD (Managing Director) in MSN, the recent Budget 2025 aims to support economic growth, but lacks a stronger focus on innovation. While the budget makes an attempt to stimulate the economy by introducing new measures and allocating more funds, the lack of innovation-led initiatives might hinder its full potential.

The CavinKare CMD noted that the budget should have a greater emphasis on incentivizing research and development (R&D), technology, and digital transformation to propel India’s economic growth. In their view, the absence of concrete policies and schemes to boost innovation could potentially limit the impact of the budget.

Some positive aspects of the budget include increased allocations for capital expenditures, higher outlays for healthcare and education, and relaxation of the Foreign Direct Investment (FDI) norms in the pharma and construction sectors. Additionally, the reduction in tax rates and simplified tax laws will also support small and medium-sized enterprises (SMEs) and help reduce compliance burden.

However, the CMD stressed the need for the government to move beyond incremental improvements and implement radical reforms to tackle deep-rooted structural issues such as inefficiencies in public governance, high dependence on fossil fuels, and infrastructure bottlenecks.

CavinKare is a prominent consumer goods company, with a range of well-known brands in hair care, skincare, and wellness products. Their experience and perspective provide valuable insights into the practical implications of budgetary policies.

In summary, while Budget 2025 does attempt to boost economic growth by allocating funds and introducing new measures, CavinKare CMD believes that the lack of innovative policies will ultimately hinder the budget’s potential to drive long-term growth and progress. They emphasized the need for more decisive reforms to tackle systemic issues and position India for a stronger and more sustainable economic future.