The United States-India Strategic Partnership Forum (USISPF) has expressed strong support for India's Union Budget 2025-26, praising it as a "strong blueprint" for economic growth aimed at achieving the government's goal of a USD 5 trillion economy. This budget, presented by Finance Minister Nirmala Sitharaman, includes significant reforms across various sectors, particularly in financial services, technology, and agriculture. The USISPF highlighted the budget's focus on fostering a resilient, inclusive, and globally competitive economic environment through strategic investments and landmark reforms in the tax structure.

Key aspects of the budget that received commendation include:

Fiscal Consolidation: The budget projects a fiscal deficit reduction to 4.4%, down from 4.8% in the previous year, supported by increased net tax revenues and moderate expenditure growth.

Shift In Spending Priorities: There is a notable shift towards enhancing domestic consumption to stimulate growth, with increased allocations for rural and urban development, social welfare, and initiatives in the Northeast states.

Investment In Technology: The establishment of a new Centre of Excellence for Artificial Intelligence (AI) is aimed at strengthening technological ties between India and the United States, particularly in education and agricultural sectors.

Reforms In Foreign Direct Investment (FDI): The removal of caps on FDI and simplification of governance constraints in the insurance sector are expected to attract more investment and drive innovation.

Dr. Mukesh Aghi, President and CEO of USISPF, emphasized that these reforms are set to accelerate India's economic growth, enhance job creation, and strengthen its position as a global economic powerhouse. He expressed optimism about the positive impacts these measures will have on attracting American investments into India and deepening economic ties between the two nations.

USISPF's endorsement reflects confidence that the Union Budget 2025-26 will significantly contribute to India's economic trajectory while promoting inclusivity and sustainable development.

ANI