Srinagar: Union Finance Minister Nirmala Sitharaman on saturday presented the Union Budget for 2025, outlining various measures aimed at fostering growth and development.
The government’s commitment to promoting balanced growth across all regions, with a special focus on the poor, youth, farmers, and women.
Economic progress India has made in the past decade and identified the next five years as a unique opportunity for continued development.
Presenting a budget of 2025 Finance Minister Nirmala Sitharaman as per news agency JKNS said, that “Our economy is the fastest growing among all major economies. Our development track record for the past 10 years and structural reforms have drawn global attention.
Confidence in India’s capability and potential has only grown in this period. We see the next 5 years as a unique opportunity to realise sabka vikas, stimulating balanced growth of all regions,” said Sitharaman.
The Budget introduced several initiatives aimed at supporting key sectors. One of the notable measures is the PM Dhan Dhaanya Krishi Yojana, a partnership between the central government and states to enhance agricultural productivity. The program will target 100 districts with low productivity, aiming to improve crop intensity and credit parameters.
“In this Budget, the proposed development measures span 10 broad areas, focussing on the poor, youth, farmers and women,” Sitharaman announced as per news agency JKNS.
To boost the MSME sector, the Budget proposes raising the investment and turnover limits for classification, allowing businesses to grow and generate employment. The government also outlined plans to transform India Post into a large public logistics organization, with 1.5 lakh rural post offices playing a pivotal role in supporting the rural economy.
“India Post to be transformed into a large public logistic organisation with 1.5 lakh rural post offices to become a catalyst for the rural economy,” she said.
Sitharaman announced a six-year mission for self-reliance in pulses, particularly Tuar, Urad, and Masoor. Central agencies like NAFED and NCCF will support farmers by procuring these pulses over the next four years. Additionally, the limit for the interest subvention scheme for Kisan Credit Cards will be raised from Rs 3 lakh to Rs 5 lakh, benefiting farmers.
“Our government will not launch a six-year mission for self-reliance in pulses, with a special focus on Tuar, Urad and Masoor… Central agencies such as NAFED and NCCF will be ready to procure these three pulses as much as offered during the next four years from farmers who register with these agencies and enter into agreements,” she added.
The Budget also aims to improve credit access by increasing the credit guarantee cover for micro and small enterprises from Rs 5 crore to Rs 10 crore. This is expected to lead to an additional Rs 1.5 lakh crore in credit over the next five years. For startups, the cover will increase from Rs 10 crore to Rs 20 crore, with a 1% guarantee fee for loans in 27 focus sectors critical to Aatmanirbhar Bharat. Furthermore, customized credit cards with Rs 5 lakh limits will be introduced for micro-enterprises registered on the Udyam portal.
“Credit guarantee cover will be enhanced. For micro and small enterprises from Rs 5 to Rs 10 crores leading to additional credit of Rs 1.5 Lakh Crores in the next 5 years. For startups, from Rs 10 Crores to Rs 20 Crores with the guarantee fee being moderated to 1% for loans in 27 focus sectors which are important for Aatmanirbhar Bharat,” Sitharaman announced.
In line with the government’s focus on self-reliance, Sitharaman shared that efforts would be made to boost urea production, with a new plant in Assam aimed at augmenting supply. She also introduced a national mission on high-yielding seeds and announced the establishment of a ‘Makhana Board’ in Bihar to improve the production and processing of fox nuts.
“I am pleased to announce the extension of Jal Jeevan Mission until 2028 with an enhanced total outlay,” she stated.
The government has also allocated Rs 1 lakh crore for an Urban Challenge Fund to develop cities as growth hubs. To empower women and marginalized communities, a Rs 2-crore term loan scheme for 5 lakh first-time women, SC, and ST entrepreneurs will be launched.
The Finance Minister also addressed energy transition goals, unveiling a Nuclear Energy Mission to develop 100 GW of nuclear energy by 2047. Amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be pursued to encourage private sector participation. Additionally, a focused scheme for the footwear and leather sectors will be introduced.
“Nuclear Energy Mission for Viksit Bharat. Development of at least 100 gW of Nuclear energy by 2047 is essential for our energy transition,” she noted.
Sitharaman also announced the extension of the Jal Jeevan Mission until 2028 with an enhanced budget allocation to further its reach. “I am pleased to announce the extension of the Jal Jeevan Mission until 2028 with an enhanced total outlay.”
Finance minister also announced that, “Broadband connectivity to be provided to all government secondary schools and primary healthcare centres”.
Regarding tax paying FM said announced tax relief for middle class, saying, “No income tax to be taken on income Up to Rs 12 Lakh.” (JKNS)
