India, Feb. 2 -- In a series of reactions to finance minister Nirmala Sitharaman's Union Budget 2025 announcement on Saturday, industry leaders and business advocates hailed a raft of measures aimed at bolstering India's economic engine.

The Maratha Chamber of Commerce Industries and Agriculture (MCCIA) sees the reforms as a significant boost to micro, small and medium enterprises (MSMEs) and startups-the very sectors that drive the country's manufacturing, exports, and employment.

MCCIA praised the new provisions that have been designed to benefit over 23 crore people employed by MSMEs, which contribute 36% to manufacturing and 45% to exports.

"The budget has introduced a new classification for MSMEs and raised the investment and turn...