Budget 2025-26 Explained Highlights: Nirmala Sitharaman unveiled her 8th consecutive Union Budget as the Union Finance Minister. (Express illustration by Angshuman Maity)Budget 2025 Important Points Explained Highlights: Union Finance Minister Nirmala Sitharaman unveiled her eighth consecutive Union Budget on Saturday (February 1). The income tax rebates she announced have been the biggest talking point.
Schemes for the MSME sector, women, farmers, the education sector, boosting exports, etc. have also been announced. The initiatives announced aim to boost self-reliance, with an eye on Atmanirbhar Bharat. Given the widespread discontent among the middle class, the announcement of tax relief has been welcomed. Here are five key takeaways from her speech.
Earlier, the Economic Survey was tabled in Parliament. It projected a growth rate of 6.3-6.8 per cent for the next financial year, stating, “Viksit Bharat@2047 envisions India as a developed nation by 2047, the centenary of our independence. This would entail sustained economic growth of close to 8 per cent every year for at least a decade.”
Scroll down for the Explained live blog, where our senior editors for Economy and Business provided updates from the Budget speech with a side-by-side explanation of the provisions and what they mean.
Finance Minister Nirmala Sitharaman has raised the limit of income tax rebate from Rs 7 lakh to Rs 12 lakh, which essentially means that if an individual has an income of up to Rs 12 lakh, she will have zero tax liability. We explain what it means for those earning above the limit.
Finance Minister Nirmala Sitharaman while presenting the Union Budget on Saturday (February 1) said that ‘nari’ (women) were one of four focus groups for the government.
Nari Shakti has long been a priority area for the Narendra Modi government, now in its third term. How do the Budget numbers reflect this focus? How does the Budget report on allocations for women and girls? Read here
Saturday’s Budget announcement of a massive income tax break is an acceptance by the government that more than anything else, the private sector investments require robust consumer demand.
Almost everything else — corporate income tax and interest rates and the condition of roads — is secondary. Read the big picture here
Bihar contributes to 90% of makhana production in India. But it has failed to thus far reap dividends from the surge in the “superfood’s” popularity. Can a ‘Makhana Board’ fix that? Read more here
Finance Minister Nirmala Sitharaman while presenting the Union Budget on Saturday (February 1) said that the ‘Make in India’ is one of the 10 broad areas of focus for the government in the coming year.
“In this Budget, the proposed development measures span ten broad areas focusing on Garib [the poor], Youth, Annadata [farmers], and Nari [women]… 6) Boosting manufacturing and furthering Make in India…,” the Finance Minister said.
Here are some specific announcements from the Budget speech pertaining to ‘Make in India’, and the government’s efforts to boost domestic manufacturing in the country. Read more here
In her budget speech, Finance Minister Nirmala Sitharaman announced the extension of the Jal Jeevan Mission till 2028, with an outlay of Rs 67,000 crore. This may be a step in the positive direction, as the country, with 18 per cent of the world’s population, contends with only 4 per cent of global freshwater resources. Read more here
Finance Minister Nirmala Sitharaman announced the National Mission for Edible Oilseeds to achieve atmanirbharta (self-reliance) in pulses
She said this will build on concerted efforts made 10 years ago. There has been a 50% increase in cultivated area.
Goal: Achieving self-reliance in Edible oilseeds
The mission will span six years and have a special focus on tur, urad, masur dal
Central agencies NAFED and NCCF will be ready to procure these pulses as much as possible over the next 4 years & enter into agreements with these agencies
The Budget announced the launch of a National Mission on High Yielding Seeds to be launched which will focus on
a) strengthening the research ecosystem,
b) targeted development and propagation of seeds with high yield, pest resistance & climate resilience
c) commercial availability of 100+ seed varieties released since July 2024
Shipbuilding Financial Assistance Policy: to be revamped to address cost disadvantages; will include Credit Notes for ship-wrecking in Indian yards to promote the circular economy
Infrastructure Harmonised Master List: will include large ships above a specified size
Shipbuilding clusters to increase the range, categories & capacity of ships. Additional infrastructure facilities, skilling and technology to develop the entire ecosystem
Maritime Development Fund to be set up with a corpus of Rs 25,000 cr. It will support the long-term financing of the maritime industry. Aims at distributing support and promoting competition. Upto 49% GoI support, rest by ports, private sector
Finance Minister Nirmala Sitharaman in her speech announced a plan to revamp India Post to become a large public logistics organisation.
Goal: To support Vishwakarmas, new entrepreneurs, women, self-help groups, MSMEs, and large business organisations
Current capacity: India Post has 1.5 lakh rural post offices, complemented by the India Post Payment Bank and 2.4 lakh Dak Sevaks.
Steps: Expanding the reach of India Post Payments Bank in rural areas. The expanded range of services will include:
1) Rural community hub colocation;
2) Institutional account services;
3) DBT, cash out and EMI pick-up;
4) Credit services to micro enterprises;
5) Insurance; and
6) Assisted digital services.
In the runup to the Budget, it had become clear that the Indian economy was losing its growth momentum. India’s GDP has grown at an average of less than 5% annually since 2019 and less than 6% since 2014. Udit Misra explains the five major takeaways from this year's budget. You can read more here
Aim: To provide relief to patients, especially those suffering from cancer, rare diseases and other severe chronic diseases
Exemption from Basic Customs Duty: 36 lifesaving drugs and medicines to the list of medicines fully exempted from Basic Customs Duty (BCD). Also, specified drugs and medicines under Patient Assistance Programmes run by pharmaceutical companies exempt, provided the medicines are supplied free of cost to patients. 37 more medicines proposed to be added along with 13 new patient assistance programmes.
5% Concessional Customs Duty: 6 lifesaving medicines to be added to this list.
Finance Minister Nirmala Sitharaman announced a slate of regulatory reforms. These include the following:
High-Level Committee for Regulatory Reforms: To be set up to review of all non-financial sector regulations, certifications, licenses, and permissions. Recommendations expected to be made within a year. The objective: To strengthen trust-based economic governance and take transformational measures to enhance ‘ease of doing business’, especially regarding inspections and compliances. States will be encouraged to join in this endeavour.
Investment Friendliness Index of States to be launched this year for competitive cooperative federalism
FSDC (Financial Stability and Development Council) Mechanism: To evaluate the impact of the current financial regulations and subsidiary instructions. Will provide a framework to enhance their responsiveness and development of the financial sector.
Jan Vishwas Bill 2.0: To decriminalise over 100 provisions in various laws. Over 180 legal provisions decriminalised so far under the Jan Vishwas Act 2023
What is the big picture emerging from the Union Budget presented by Finance Minister Nirmala Sitharaman on February 1? What was the context of this Budget — the twelfth Budget presented by the Narendra Modi government, and how has Sitharaman addressed it? Udit Misra explains here.
With a view on the assembly election in Bihar in November this year, Finance Minister Nirmala Sitharaman announced a slew of initiatives for the state.
Bihar is currently ruled by the Nitish Kumar-led Janata Dal (United) and the Bharatiya Janata Party (BJP). Out of the 243 Assembly seats, the BJP has 74, and JD(U) has 43. The main opposition party in Bihar—Rashtriya Janata Dal (RJD)—has 75 seats. You can read about the proposed schemes here.
Finance Minister Nirmala Sitharaman identified exports as a key engine for development over the coming year. To this end, she announced five initiatives:
Export Promotion Mission: This mission will be driven jointly by the Ministries of Commerce, MSME, and Finance. It aims to facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets.
BharatTradeNet: A digital public infrastructure, ‘BharatTradeNet’ (BTN) for international trade will be set up as a unified platform for trade documentation and financing solutions. The BTN will complement the existing Unified Logistics Interface Platform, which allows industry players to access logistics-related datasets from various government systems.
Support for integration with Global Supply Chains.
National Framework for Global Capability Centres: As guidance to states for promoting Global Capability Centres (GCCs) in emerging tier 2 cities. GCCs offer support to MNCs. The proposed policy aims at enhancing availability of talent and infrastructure, building-byelaw reforms, and mechanisms for industry collaboration.
Warehousing facility for air cargo: To facilitate the upgradation of infrastructure and warehousing for air cargo including high-value perishable horticulture produce.
Finance Minister Nirmala Sitharaman announced the launch of the Nuclear Energy Mission with the goal of developing at least 100GW of nuclear energy by 2047.
This will involve active partnership with the private sector. To this end, amendments will be made to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act.
Additionally, a nuclear energy Mission for R&D of small modular reactors has been announced with an outlay Rs 20,000 crores. At least 5 indigenously developed small modular reactors are to be operationalised by 2033.
The existing Special Window for Affordable, Mid-Income Housing (SWAMIH) scheme: Aims to help middle-class families who pay EMIs on loans taken for apartments, and rent on their current dwellings.
So far, 50,000 dwelling units in stressed housing projects have been completed and keys handed over. Another 40,000 units are to be completed in 2025.
SWAMIH Fund 2 announced today, will be established as a blended finance facility. This will include contributions from the Indian government, banks and private investors.
An outlay of Rs 15,000 crore is allotted for the expeditious completion of another 1 lakh units.
Finance Minister Nirmala Sitharaman has announced a significant hike in foreign direct investment (FDI) in the insurance sector, from 74 per cent to 100 per cent. This move is expected to attract global insurance giants and increase capital inflows. We explain the move
The finance minister has raised the limit of income tax rebate from Rs 7 lakh to Rs 12 lakh, which essentially means that if an individual has an income of up to Rs 12 lakh, she will have zero tax liability.
Does that mean that those earning Rs 15 lakh will have to pay tax on only Rs 3 lakh?
No, the rebate is only applicable for those earning up to Rs 12 lakh. If your taxable income is even a rupee more than Rs 12 lakh, you will have to pay taxes as per the slab rates under the new tax regime. Read the details here
UDAN regional connectivity schemes: Enabled 1.5 cr middle class people to enjoy speedier travel. Connected 88 ports & airports, operationalised 619 routes.
Building on this: modified UDAN scheme to be launched to connect 120 new destinations. 4 crore additional passengers in the next 10 years.
To support helipads, smaller airports in hilly, aspirational NE regional districts
Greenfield airports in Bihar: Also expansion of Patna Airport’s capacity; brownfield airport in Bihta
Despite income tax rate cuts, the Centre’s gross income tax receipts for 2025-26 is budgeted at Rs 14.38 lakh crore, which is 21.1% higher than the budget estimate of Rs 11.87 crore for 2024-25. Even for 2024-25, the revised estimate of gross income tax revenues at Rs 12.57 lakh crore is higher than the budgeted Rs 11.87 lakh crore.
While a lot of attention is on the income tax slabs, and we will keep bringing you more information on that, here are some other important budget announcements: Broadband connectivity to ALL govt secondary schools and PHCs in rural areas under BharatNet; Bharatiya Bhasha Pustak Scheme: digital form Indian language books for schools and higher education; Saksham Anganwadi & POSHAN 2.0 programme — Over 8 cr children supported, one crore pregnant women & lactating mothers countrywide; Daycare cancer centres in all district hospitals in next 3 years: 200 centres in FY25-26
Rs 0-4 lakh -- Nil
Rs 4-8 lakh -- 5%
Rs 8-12 lakh -- 10%
Rs 12-16 lakh -- 15%
Rs 16-20 lakh -- 20%
Rs 20-24 lakh: 25%
Above Rs 24 lakh -- 30%
Tax bonanza for the middle class: Finance Minister Nirmala Sitharaman said that the rebate on income tax under the New Tax Regime will be such that those with annual income of up to Rs 12 lakh will have zero income tax liability.
Union finance minister Nirmala Sitharaman on Saturday announced an allocation of Rs 20,000 crore to support private sector- driven research. She added that a deep-tech fund-of-funds is being explored to support next-generation of start-ups. The government has been facilitating research in the private sector even through its recently set-up funding body Anusandhan National Research Foundation.
Only 28% of the 50,000 funding budget of the body over five years will come from the government, with the rest coming from collaborations with private sector. The government has also setting up of start-ups, with the cabinet in October last year approving a R 1000 crore venture capital fund for space start-ups. To support tech research at top institutes such as IIT and IISc, the finance minister also announced 10,000 fellowships under the PM Research Fellowship scheme
FM says: Democracy, demography and demand crucial, appreciates role of middle class in national building. No income tax till income of Rs 12 lakh, she announces
IITs are set to get an infrastructure push. Sitharaman announced that additional infrastructure will be created in five IITs that were started after 2014 to facilitate education for 6500 more students. Hostel and other infrastructure at IIT Patna, which was set up in 2008, is also set to be expanded, she said. IIT Palakkad, Goa, Bhilai, Jammu, Dharwad and Tirupati were set up after 2014. Some of these third-generation IITs are still in the process of completing construction of parts of their campus.
Central institutions like IITs have also recently been taking loans provided by the Higher Education Financing Agency (HEFA) to improve their infrastructure.
Scheme to make India a global hub for toys. Development of clusters, skills, a manufacturing ecosystem that will create high quality, innovative, sustainable toys that will represent the Made in India brand
The fiscal deficit is pegged at 4.8% of GDP as per the revised estimate for 2024-25. It was estimated at 4.9% of GDP when Budget was presented in July 2024.
While total expenditure is lower at Rs 47.16 lakh crore for 2024-25 as per the Revised Estimates compared with Rs. 48.20 lakh crore in Budget Estimate, the capex for the year, as per RE is Rs 10.18 lakh crore, lower than Rs 11.11 lakh crore announced in July 2024.
Time to file tax returns extended from two years to four years, Sitharaman says.
Rationalisation of TDS, TCS, reducing compliance burden in income tax, says Sitharaman
Finance Minister Nirmala Sitharamann emphasized the need of having a light touch regulatory framework based on principles and trust, which could unleash productivity and employment. Through such a framework, regulations made under old laws shall be updated. The government plans to set up a high-level committee for regulatory reforms, which will review all non-financial sector regulations. It will also launch an investment friendliness index of states, in addition to other measures.
Sitharaman’s announcement on having trust-based regulatory frameworks follows Chief Economic Advisor V Anantha Nageswaran’s call for deregulation and wiping out the trust deficit in the country.
“But, ‘get out of the way’ and trust people, we must, for we have no other choice,” the CEA said in the preface to the Economic Survey for 2024-25. Once the trust deficit is addressed, it is a good bet the Indian public will overcome the challenges and turn them into opportunities, he said.
New income tax Bill will have spirit of nyay, will be clear and direct, easy to understand for taxpayers: FM
The Finance Minister announced that a new scheme will be launched for five lakh Scheduled Castes and Scheduled Tribes (SC/ST) women entrepreneurs. This will involve giving term loans of up to Rs 2 crore during the next five years.
Sitharaman said that the new scheme will incorporate lessons from Stand-Up India scheme. The Centre had launched the Stand-Up India scheme on April 5, 2016, as a loan scheme to empower women entrepreneurs, especially from the SC/ST communities. The scheme was extended up to 2025, so it is not yet clear whether the new scheme will dovetail with the existing scheme or will consist of a new design.
Under the Stand-Up India scheme, the objective was to facilitate loans from Scheduled Commercial Banks between Rs 10 lakh and Rs 1 crore to at least one one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one-woman borrower per bank branch for setting up a greenfield enterprise in the manufacturing, services or trading sector and also for the activities allied to agriculture.
As per data tabled in Parliament by the Ministry of Finance, up to June 2024, loans were sanctioned to 40,002 SC women and 13,424 women under the existing Stand-Up India scheme
An infusion of Rs 20,000 crore to increase tourism-led employment is going to help several states that house top tourist locations build infrastructure and boost connectivity.
The onus has been put on states to acquire land to build hotels and other required facilities. Also, a continued focus to promote India as key destination on the world map for on spiritual tourism gets a boost - especially projecting it as a birthplace of Lord Ram through the Ramayana circuit, and as the birthplace of Buddha through the Buddhist circuit, roping in south east Asian tourist footfall. They are also likely to get visa fee waivers, so will the medical tourism segment, with a focus on Heal in India
The Finance Minister announced that the government will launch the Export Support Mission with sectoral and ministerial targets. The Mission will be driven jointly by the ministries of commerce, MSMEs, and finance. The Export Support Mission will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets, Sitharaman said
Finance Minister Nirmala Sitharaman announced that 50,000 Atal Tinkering Labs will be set up in government schools over the next five years to "foster scientific temper among young minds."
The Centre's Atal Innovation Mission introduced Atal Tinkering Labs in 2016-17 and around 10,000 such labs have already been set up in schools across the country. The Centre provides funds to schools to set up the lab and operate and maintain it for five years. These labs contain equipment like 3D printers, and tools and kits for students to learn STEM (science, technology, engineering and math) concepts, including aspects of robotics and artificial intelligence. These labs are meant for students in classes 6 to 12.
The Finance Minister announced that the loan limit under the Modified Interest Subvention Scheme (MISS) will be increased from Rs 3 lakh to Rs 5 lakh. Currently, under MISS, farmers engaged in Agriculture and other allied activities can acquire Kisan Credit Card loans up to Rs 3 lakh at a benchmark rate of 9%. However, the Centre provides 2% interest subvention on the benchmark rate, bringing down the effective rate of interest to 7 per cent. An additional 3% concession for prompt and timely repayment further reduces it to 4% per year.
According to the Agriculture Ministry, the benefit of the interest subvention scheme is also available for post-harvest loans (for six months post-harvest) to small and marginal farmers having Kisan Credit Cards, with the aim of protecting them against distress sale of their produce. The Rs 3-lakh upper limit has remained unchanged since 2006-07, when the Interest Subvention Scheme, the original variant of MISS, was launched by then Finance Minister P Chidambaram. Several states including Uttar Pradesh had demanded an increase of the loan limit under the scheme.
In a major reform announcement FM announces to raise FDI limit in insurance sector from 74% to 100%
The union finance minister Nirmala Sitharaman on Saturday announced that 10,000 medical undergraduate and postgraduate seats will be added over the next year. This, she said, would be towards the goal of expanding the number of medical seats by 75,000 over five years. There has been a massive expansion in the number of medical seats over the last decade — the number of MBBS seats has increased from 51,384 before 2014 to 1,12,112 in 2024 and the number of PG seats has increased from 31,185 to 72,627.
This increase, however, has led to other challenges. Even as the national medical education regulator has been working on tightening staffing norms, colleges have been grappling with severe staff shortage. The geographical distribution of the medical seats has also been skewed with some places like Karnataka and Puducherry having more than their required share. This had prompted the regulator National Medical Commission to bring in a norm of 100 MBBS seats per 10 lakh population. The norm was later put on hold when some states said that they had exceeded the numbers, but owing to private colleges and not government ones. These issues were raised even in the economic survey released on Friday.
The Finance Minister announced revamping of the existing PM-SVANidhi loan scheme, which was launched in 2020 to help street vendors hit by the COVID-19 pandemic get back on their feet. The scheme, which has helped 68 lakh vendors so far, will have enhanced bank loans, UPI-linked credit cards and capacity building support. Under the existing scheme, vendors can avail of loans of Rs.10,000, Rs.20,000 and Rs.50,000.
National mission on High Yielding Seeds to be launched, with focus on
a) strengthening research ecosystem,
b) targeted development and propagation of seeds with high yield, pest resistance & climate resilience
c) commercial availability of 100+ seed varieties released since July 2024
The Finance Minister has announced extension of Jal Jeevan Mission (JJM) till 2028. The JJM, launched in 2019, was the one of the biggest programmes of the Modi 2.0.
So far, over 12 crore rural households have been provided tap water connections. Initially, the scheme was till 2024.
The scheme aims at providing 55 liter drinking water per capita per day . In the next phase of the JJM, the focus will be on operations and maintenance of the infrastructure created during the phase-1. While the pipelines have been laid at many places under the JJM, the households complain of non-availability of drinking water.
With assembly elections likely later this year in Bihar, Finance Minister Nirmala Sitharaman has made two specific announcements so far for the state.
One is the setting up of a ‘Makhana Board’ to help farmers growing makhana, which is the the super food.
Giving the state an infra boost, Sitharaman has also announced an expansion of the Patna airport, and setting up of a new brownfield airport in the state.
Sensex up 0.5 per cent or 380 points to reach 77,884 after the FM announces a series of measures to boost Agri, MSMEs, education and other areas including urban infrastructure, power, ship building among others.
The government will incentivise electricity distribution reforms and augmentation of intra-state transmission capacity by states, FM Sitharaman said. “This will improve the financial health and capacity of electricity companies. Additional borrowing of 0.5 per cent of GSDP will be allowed to states contingent on these reforms,” she said.
In 2022-23, the financial losses of state-owned distribution companies at an all-India level stood at Rs 62,386 crore against Rs 31,000 crore in 2021-22, as per the data provided by Icra.
Alongside 3 centres of excellence for AI announced in 2023, govt will set up another centre of excellence for education with an outlay of Rs 500 crore.
The government will help gig workers get identity cards, register them on the e-shram portal and give them healthcare coverage under PM Jan Arogya Yojana. This is likely to assist 1 crore gig workers, says FM.
FM announces that the Govt will set up Rs 25,000-crore Maritime Development Fund for supporting and promoting competition. Govt will contribute 49% and rest to come from pvt sector.
The Finance Minister announced that the government will launch the second Asset Monetisation Plan for 2025-2030. The Plan is expected to plough back capital of Rs 10 lakh crore in new projects. Sitharaman added that regulations and fiscal measures will be fine-tuned to support the Asset Monetisation Plan.
Finance Minister has announced the setting up of a new urea plant at Namrup (Assam) with an annual production capacity of 12.70 lakh tonnes. If it takes off, that would be the 7th new urea plant to come up in India since 2019. These include plants in Gadepan (Rajasthan), Ramagundam (Telangana), Panagarh (West Bengal), Gorakhpur (Uttar Pradesh), Barauni (Bihar), Sindri (Jharkhand) and Talcher (Odisha). The last plant is yet to be commissioned (about 65% completed), while the other six are up and running.
The proposed National Manufacturing Mission, which will support clean tech manufacturing and improve domestic value addition in solar PV modules, electric vehicle (EV) batteries, high-voltage transmission equipment, wind turbines, and grid-scale batteries, FM Sitharaman said.
China controls most of the clean tech supply chain, from raw materials to intermediate goods. The mission, along with existing Production Linked Incentive (PLI) schemes for solar PV modules and batteries, is likely to help domestic players backward integrate and scale operations.
Sithraman said that the National Manufacturing Mission will also support clean tech manufacturing, given India’s commitment to climate-friendly development. Focus segments will include solar PV cells, EV batteries, motors and controllers, electrolysers, wind turbines, very high voltage transmission equipment, and grid-scale batteries.
The Budget has mentioned about achieving atmanirbharta (self sufficiency) in pulses. The truth is India's pulses imports were valued at 3,275.25 million dollars during April-November 2024, a 56.6% jump over the 2,091.95 million during April-November 2023. India's pulses imports fell from a peak of 4,243.13 million dollars in 2016-17 to 1,943.89 million dollars in 2022-23. But this was reversed in 2023-24, with imports at 3,746.78 million dollars. The current fiscal (2024-25) could see pulses imports scale a new all-time-high. Domestic pulses production is still largely rainfall dependent. The poor 2023 monsoon led to lower domestic production and higher imports this year.
The Finance Minister has announced that a Makhana Board will be established in the state of Bihar for increasing production, processing and value addition of Makhana. The people engaged in Makhana cultivation will be organized in FPOs. This announcement is significant in view of Assembly Elections in Bihar later this year.
About 10 lakh people are directly or indirectly involved in Makhana cultivation and production process in Bihar, with the state accounting for about 85 per cent of the total Makhana production of the country. The Bihar government has been demanding measures from the Central government to promote Makhana cultivation. The state government had also demanded a declaration of the minimum support price of Makhana.
The government will launch the National Manufacturing Mission covering small, medium, and large enterprises for furthering Make in India. Under this Mission, the government will assist with policy support, execution roadmaps, and governance and monitoring frameworks for central ministries and states.
Sitharaman says gareeb, youth, annadata and naari spurring agri growth and productivity,
Budget to focus on:
Furthering Make In India
Supporting MSMEs
Enabling employment led development
Investing in people economy and innovation
Securing energy supplies
Supporting exports
Nurturing innovation
The government will launch a new scheme offering term loans of up to Rs 2 crore to first-time entrepreneurs among women, Scheduled Castes, and Scheduled Tribes.
In a boost to credit to Micro industries, the government will provide customised credit cards with limit of Rs 5 lakh. In the first year, 10 lakh such cards will be issued.
Finance Minister Nirmala Sitharaman has announced a new scheme for agriculture sector—Prime Minister Dhan Dhanya Krishi Yojana (PMDDKY). This scheme will be implemented in partnership with states, across 100 districts in its first phase. The scheme will be on the lines of Aspirational Districts Programme (ADP), which was launched by Prime Minister Narendra Modi in 2018. The ADP is implemented across 112 districts. The PMDDKY will be implemented across agriculture districts.
The Finance Minister said that India Post, along with India Post Payments bank, will be repositioned to be a catalyst for the rural economy. India Post will also be transformed into a large public logistics organization.
Finance Minister Nirmala Sitharaman lists four engines of development in the Union Budget 2025-25. These are Agriculture, MSMEs, investments, and exports. She added that the Budget aims to initiate transformative reforms across 6 domains: Taxation, power sector, urban development, mining, financial sector, and regulatory reforms.
She opened her speech: “This budget continues government efforts to a) accelerate growth b) secure inclusive development c) invigorate private sector development d)uplift household sentiments e) enhance spending power of India’s rising middle class. Together we embark on a journey to unlock our nation’s tremendous potential for greater prosperity and global positioning under the leadership of our honourable PM Shri Narendra Modi”
Sitharaman says the govt will promote self sufficiency in pulses, with special focus on production and procurement of toor, urad, and masur. Bihar will get a Makhana board, to boost the cultivation and marketing of fox nuts
Nirmala Sitharaman's speech begins. She says budget will focus on youth, women, farmers. Now she will start with specific proposals, starting with agriculture.
While the Economic Survey sounds sanguine about India’s post-pandemic economic recovery, on the whole, it sounds an alert. “India faces limitations in producing critical goods at the scale and quality required to serve the infrastructure and investment needs of an aspiring economy,” says the preface of the Survey. Read here to understand this point better
The Economic Survey for 2024-25 was tabled by Finance Minister Nirmala Sitharaman in Parliament on Friday. The Survey is a report of the state of the Indian economy in the financial year that is coming to a close. Here are the key points from the survey.
There is a growing sense that the Indian government has been over-taxing its citizens. But is that so? Of course, taxation varies from person to person depending on income and spending patterns but here are five charts that help provide some context.
