Budget expectation quotes:

Satyendra Prasad Narala - Managing Director, Regency Ceramics

“The Budget 2025 should focus on addressing critical challenges faced by the MSME sector, particularly the issue of delayed payments from customers. It is essential to enforce strict payment timelines of 45 days. Additionally, the budget should include provisions that support the financial stability of MSMEs, such as offering working capital at subsidized interest rates and eliminating the cooling period for banks to extend loans.

There is also a pressing need to reform the Production-Linked Incentive (PLI) scheme by reducing import duties on raw materials, particularly for sectors like ceramics, where fuel costs form a significant part of production expenses. We urge the government to bring Natural Gas for industrial consumers under the GST tax regime. In the ceramics sector, sustainability is not just a goal but a necessity.

As the industry progresses, we look to the government to implement strong policies that promote energy-efficient buildings and eco-friendly manufacturing practices. Stricter building codes and regulations that enforce sustainability standards will be instrumental in shifting the industry toward eco-conscious development. The real estate sector is keenly awaiting proactive measures in the Union Budget that will foster a greener, more sustainable future.

The expansion of housing under the PM Awas Yojana and enhanced access to housing for the middle class is expected to boost demand for the ceramic industry and increase its production capacity. We also expect the Budget 2025 to rationalize inverted duty structures across various sectors, thereby enhancing India’s manufacturing competitiveness and supporting domestic production.”