Dr. Sudhir Lokare (76), retired general surgeon and stock market investor, states clearly: “The capital gains tax on stocks should be eliminated entirely. It discourages investment and erodes profitability.” The surgeon also acknowledged concessions on imported pharmaceuticals. “These concessions will support the treatment of serious diseases,” he points out, recalling that the impact of the budget varies according to the sectors.

Rahi Mandlik, 51, head of marketing at a contracting company, expresses concern for MSMEs: “While the budget has allocated more funds for MSMEs, I am skeptical about its implementation at the grassroots level. Many MSMEs possess technical expertise, but struggle to access financial support. The government’s role is limited to sanctioning funds, while banks are hesitant to provide collateral-free loans. I hope the government addresses this issue and ensures that the allocated funds reach the intended target.” Mandlik has previously worked closely with several MSMEs.

Indrajeet Bhosale, a 21-year-old IT professional, expresses skepticism: “While the tax relief has been highlighted, it does not significantly change my monthly financial stress. Rent, transportation, food and lifestyle costs have increased sharply in cities like Pune. There has been little focus on first-time homebuyers or incentives for long-term savings. The budget seems more symbolic than practical for people like us who are just starting our careers.”

Not everyone is disappointed. Rishikesh Patil (22), an MBA student working at a Pune-based infrastructure company, praised the budget’s focus on logistics and improving connectivity. “The budget addresses improvements in logistics and connectivity quite comprehensively,” he says. However, he highlights the challenges of his projects due to subsidy programs: “Subsidy programs delay the billing process, overload working capital, increase interest on loans and stop projects.” “Our project, which was originally scheduled for completion in March, has been postponed to June due to delay in distribution of funds,” adds Patil.

Businessmen like Rahul Jadhav (28) welcome digital infrastructure initiatives and fast-track customs procedures. However, he remains unsure of its effectiveness in the real world. “Digital systems and AI-powered customs clearance are commendable, but startups face deeper challenges, such as limited access to affordable credit, complex compliance frameworks and bureaucratic delays that persist despite digitalization,” he said. The removal of the Rs 10 lakh limit for courier exports is encouraging but insufficient. “High logistics costs, intricate tax structures, and lack of mentorship continue to discourage first-generation entrepreneurs,” argues Jadhav. “Big merchants in ports benefit, but founders in second-tier cities with ambitious visions continue to be ignored,” he said.

Sakshi Gadage, a PhD student abroad, identifies a gap in educational support. She welcomes the budget’s emphasis on hospitality and tourism development, but advocates for stronger educational initiatives. “Comprehensive scholarships, research grants, travel grants and tuition assistance would have a significant impact on students like me, for whom financial constraints often impede their academic aspirations,” he says. He further explains his vision: “While the government’s focus on hospitality infrastructure is encouraging, strengthening domestic education is equally crucial. Students who build confidence through quality education at home are better prepared for international academic environments.”