The significant reduction in direct taxes is expected to benefit the steel sector , as the focus on the middle class and increasing their buying power will lead to growth in consuming sectors, the Indian Steel Association (ISA) said. Auto and consumer goods industry along with their value chain account for 15 per cent of steel consumption, the industry body said. Budget with ETBudget Highlights: Gareeb, youth, annadata and naari feature in Budget. What about taxes?New vs Old tax regime: Here's a decoder to help you choose the right oneWill you pay more under new tax regime or old? Calculate here ISA President Naveen Jindal said, "The significant reduction in direct taxes...is bound to spur consumption that will have an indirect benefit for the steel sector. The focus on the middle class and increasing their buying power, will surely help growth in the auto sector and boost the consumer goods sector and their value chain." Jindal who is also the Chairman of Jindal Steel and Power Ltd ( JSPL ) said the focus on shipbuilding clusters and maritime development fund, having a corpus of Rs 25,000 crore will help reduce Exim (Export-Import) logistic costs. Sajjan Jindal, Chairman and Managing Director, JSW Group, said, "The government has maintained its thrust on capex though the spend of Rs 11.2 lakh crore is lower than the spending of around 13 lakh crore that I was hoping for, based on the past trend. But still, capex spend is at a robust level and will give a boost to the core sectors. Amitava Mukherjee, CMD of state-owned NMDC , described the Budget 2025-26 as "growth-oriented," with its focus on public-private partnerships . 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Dilip Oommen, CEO of ArcelorMittal Nippon Steel India (AMNS India) said the overall focus on renewable energy is a commendable step. The additional focus on Nuclear Energy, with a target of 100 GW by 2047, is a decisive step in India's green energy transition. This will help in driving the green transformation of the country and the steel industry. "The steel sector also stands to benefit from indigenous shipbuilding and marine development projects and enhanced credit availability for MSMEs, which will have access to financing for businesses involved in the construction and manufacturing sectors," he said. Satish Kumar Agarwal, CMD, Kamdhenu Group said, "The allocation of Rs 15,000 crore towards SWAMIH Fund 2 and the setting up of Urban challenge fund of Rs 1 lakh crore for redevelopment of cities will boost infrastructure development and demand for construction materials." Vivek Bhatia, MD & CEO, TKIL (formerly thyssenkrup Indistries) said that the removal of customs duty on critical mineral waste and scrap, including lithium-ion batteries, cobalt, and copper, is a welcome step. "We look forward to the forthcoming policy on critical mineral recovery, which will be instrumental in driving sustainable mining and provide the much-needed direction on recovery of critical minerals from tailings," he said. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)