The Indian Chamber of Commerce (ICC), Assam and Meghalaya Committee, has expressed its appreciation for the Union Budget 2025, presented today, highlighting its significant focus on the development of India, Assam and the North East region.
Sarat Kumar Jain, Chairman of the ICC Assam and Meghalaya Committee, praised Union Finance Minister Nirmala Sitharaman for her recognition of the North East’s unique needs and potential in the Union Budget 2025. Jain believes the Budget lays a strong foundation for the socio-economic transformation of Assam and the larger North East region.
He welcomed the announcement of a new Urea plant in Namrup, Assam, with an annual capacity of 12.7 lakh tonnes, aimed at boosting the region’s urea supply and agricultural productivity. Jain also supported the PM Dhandhanya Krishi Yojna, which will benefit 17 million farmers in 100 low-productivity districts, promoting agricultural growth and improving storage at the panchayat level.
Additionally, Jain applauded the enhanced Kisan Credit Card (KCC) scheme, increasing the credit limit to Rs 5 lakh, and the introduction of tailored financial support for micro enterprises in the MSME sector. He noted that MSMEs, accounting for 45 per cent of India’s exports, will receive much-needed financial backing through initiatives like customized credit cards and expanded fund-of-funds.
Jain also welcomed the UDAN scheme expansion, which will enhance regional connectivity with 120 new destinations and benefit 4 crore passengers.
Mahesh Saharia, Chairman of the North East Regional Council of the Indian Chamber of Commerce (ICC), praised the Union Budget highlighting its focus on driving India toward ‘Viksit Bharat’. He noted that the Budget lays a strong foundation for socio-economic growth, especially in healthcare, tourism, exports, and taxation.
Saharia welcomed the initiatives to enhance healthcare accessibility, such as the exemption of 36 life-saving drugs from Basic Customs Duty (BCD) and the addition of six medicines under 5 per cent concessional duty. He also supported the exemption for bulk drugs and the addition of 37 new medicines, improving healthcare affordability.
He appreciated the tourism measures, including visa-free waivers for select tourists and the revitalization of 50 key tourist destinations. The formal recognition of 1 crore gig workers for better social security benefits was also welcomed.
Saharia commended the creation of the Export Promotion Mission and Bharat Trade Net for enhancing global trade competitiveness. He also supported the Income Tax Bill with relief for those earning up to Rs 12 lakh, the extension of the tax return update window, and reduced TDS thresholds.
In a press release today, the ICC said it looks forward to collaborating with the government and other stakeholders to effectively implement the initiatives and ensure that the benefits reach every corner of the region. According to ICC, the budget is growth-oriented, with a focus on infrastructure, manufacturing, saving stimulus, and addressing the issues of Agriculture, MSME, Tourism, Education, Skill Development, Public Health Export and Connectivity making a concerted effort towards inclusive growth.ICC expressed deep optimism for the new budget which contains a slew of new reforms and congratulated the government on its progressive outlook.
