New Delhi: Commenting on the Union Budget 2024-25, Dr. Saloni Singh, Director of Supriya Lifescience, stated, “This budget represents a pivotal move towards a Vikasit Bharat, emphasizing progress through targeted support for Garib (poor), Mahilayen (women), Yuva (youth), and Annadata (farmers). Key focus areas include employment, skill development, MSME growth—vital for GDP and exports—and middle-class upliftment.”

Dr Singh said, the full exemption of basic customs duties on three cancer treatment medicines is a notable advance, promising substantial benefits for both the pharmaceutical sector and cancer patients. With a ₹2,143 crore allocation under the Production Linked Incentive (PLI) scheme, India is set to lead globally in pharmaceuticals, with the domestic market projected to reach USD 130 billion by 2030. These steps are vital for achieving our $5 trillion GDP goal in three years and $7 trillion by 2030.

Moreover, the Prime Minister’s package, with significant funds—₹2 lakh crore for employment and skill development, and ₹1.48 lakh crore for education—aims to drive job creation. The enhanced focus on women’s workforce participation through dedicated hostels and targeted skilling programs is commendable. These initiatives are expected to deliver a skilled workforce crucial for innovation and precision industries.

The budget also prioritizes innovation, R&D, and education, fostering advancements across public and private sectors. The government’s commitment to these areas aims to boost research, enhance education quality, and develop a competent workforce. This emphasis will propel India’s technology and manufacturing sectors, positioning the country as a major global manufacturing hub.