As we look towards Union Budget 2025, we expect strong focus on sustainable economic growth driven by domestic consumption, green manufacturing incentives, and skill development. Revising the income-tax rebate threshold can enhance disposable income, improving demand in sectors like housing and interiors, which are key to economic expansion.
At the same time, targeted tax benefits for sustainable manufacturing”such as incentives for green building materials and responsible forestry practices”would not only support industrial growth but also reinforce India`s climate commitments. Equally critical is investment in skill development, particularly in carpentry and allied trades, to bridge the workforce gap in India`s expanding furniture and infrastructure industries.
Manoj Tulsian, CEO and Joint Managing Director, Greenply Industries Ltd.