Image Source : VIDEO SCREENGRAB Nirmala Sitharaman.
Budget 2025: Union Finance Minister Nirmala Sitharaman on Saturday (February 1) presented a record eighth consecutive budget. This took FM Sitharaman closer to the record of 10 budgets that were presented by former Prime Minister Morarji Desai over different time period. Desai has presented a total of 6 budgets during his tenure as finance minister in 1959-1964, and four budgets between 1967-1969.
Budget to initiate reforms in 6 areas
Finance Minister Nirmala Sitharaman on Saturday said the Union Budget 2025-26 will initiate reforms in six areas taxation, urban development, mining, financial sector, power and regulatory framework. Presenting her eighth consecutive budget, she said the government’s development track record of the past 10 years and structural reforms have drawn global attention. A Viksit Bharat will have zero poverty, quality education, high-quality, affordable and comprehensive healthcare, she said and added that the budget’s focus is to take everyone together on an inclusive growth path.
Government announces PM Dhan Dhyan Krishi Yojana
Finance Minister Nirmala Sitharaman on Saturday announced PM Dhan Dhyan Krishi Yojana, covering 100 districts with low yields, modern crop intensity and below-average credit parameters. Presenting her record eighth consecutive budget, she also said that the scheme would benefit 1.7 crore farmers. She added the government will launch rural prosperity, and resilience programme focusing on youth, women and farmers. Nafed (National Agricultural Cooperative Marketing Federation of India) and NCCF will procure pulses in the next four years. The government will also roll out a 6-year programme for Atmanirbharta in pulses with a special focus on tur, urad, and masoor. A comprehensive programme for raising vegetables, fruit production, and providing remunerative prices will also be launched, Sitharaman said.
National Mission on high-yielding seeds to be launched
India will launch a national mission on high-yielding seeds, Finance Minister Nirmala Sitharaman said on Saturday. Presenting her 8th straight Budget, she also said a ‘Makhana Board’ will be established in Bihar to improve the production and processing of ‘fox nuts’. The finance minister also said the government will bring an enabling framework for sustaining the harvest of the fisheries sector in exclusive economic zones and high seas. She also announced a 5-year mission to promote cotton production.
Govt to launch focused scheme for footwear, leather sectors
Nirmala Sitharaman said a focused scheme will be launched for the footwear and leather sectors while steps will be initiated to make India a global toy manufacturing hub. The government will also launch a mission to support clean technology manufacturing activities, she said while presenting the Union Budget for 2025-26. She said investment as third engine encompasses investing in people, innovation, and economy. Broadband connectivity will be provided to all government secondary schools and primary healthcare centres, Sitharaman said.
Govt to launch Rs 2-crore term loan for 5 lakh first-time women, SC, ST entrepreneurs
The government will launch a Rs 2-crore term loan for 5 lakh first-time women, SC and ST entrepreneurs, Nirmala Sitharaman said. Presenting the Union Budget for 2025-26, the finance minister also said a manufacturing mission will be set up for SME and large industries. Besides, the government will undertake facilitation measures to enhance productivity of labour-intensive sectors, Sitharaman said. The credit guarantee cover will be doubled to Rs 20 crore, guarantee fee moderated to 1 per cent, she added. She also said a national institute of food technology, entrepreneurship and management will be established in Bihar.
Handmade toys
Focus Product Scheme for Footwear & Leather Sectors is expected to facilitate employment for 22 lakh persons, turnover of ₹4 lakh crore and exports of over ₹ 1.1 lakh crore
Scheme to Make India a Global Toys Hub; To create high-quality toys representing the ‘Made In India’ brand
New ‘Fund of Funds’ for startups to be set up
Fresh contribution of another Rs 10,000 crore, in addition to existing government contribution of Rs 10,000 crore.
New Scheme for 5 lakh Women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs.
Urea Plant to be set up in Assam
Plant with annual capacity of 12.7 lakh metric tons to be set up at Namrup, Assam.
3 dormant urea plants in the Eastern region had been reopened.
Infra development: FM announces Rs 1.5 lakh crore outlay for interest-free loans to states
Nirmala Sitharaman said Rs 1.5 lakh crore will be provided towards 50-year interest free loans to states, for infrastructure development. Also, an asset monetisation plan will be launched for 2025-30 period to infuse Rs 10 lakh crore capital in new projects. Presenting the Budget for 2025-26, she also announced an outlay of Rs 500 crore for setting up a centre of excellence in artificial intelligence for education. Further, the Budget outlay for Jal Jeevan Mission is being enhanced to achieve 100 per cent coverage, she added. Sitharaman also said that urban sector reforms relating to governance, urban land and planning will be incentivised.
Govt to allocate Rs 10,000 cr under Urban Challenge Fund for 2025-26
The government will set up an Urban Challenge Fund of Rs 1 lakh crore to finance up to 25 per cent of bankable projects and allocated Rs 10,000 crore for 2025-26, Nirmala Sitharaman said on Saturday. She said the fund will be used to implement the proposals for cities as growth hubs, and creative redevelopment. Sitharaman also announced measures for electricity distribution and improving the financial health of DISCOMS (distribution companies). Additional borrowing of 0.5 per cent of state GDP to be allowed to strengthen electricity distribution and transmission companies, the finance minister said, adding that with a corpus of Rs 25,000 crore, a Maritime Development fund would be set up for distributing support and promoting competition.
Govt to provide Rs 20,000 crore to promote innovation in partnership with private sector
The government will provide Rs 20,000 crore for promoting innovation in partnership with the private sector, Finance Minister said. Presenting Union Budget 2025-26, she also said the government will launch export promotion mission with specified target for easy credit access. Sitharaman further said the Centre will set up a national framework for promoting global capability centres in emerging Tier-II cities. In order to strengthen the economy’s integration with global supply chains, she also said the government will provide support for domestic manufacturing capacity. The finance minister also announced plans to set up Bharat Trade Net, a digital public infrastructure, for international trade.
