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Budget 2025: A Vision for India’s Transformation Toward 2047

This Budget serves as a strategic roadmap aimed at transforming the Indian economy through a combination of growth-promoting investments and comprehensive reforms in key sectors such as agriculture, MSMEs, infrastructure, and exports.

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Budget 2025: A Vision for India’s Transformation Toward 2047

The Budget for 2025-26 is part of a broader vision initiated in 2014, marking a crucial step in the nation’s journey toward 2047, when India will celebrate 100 years of independence.

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This Budget serves as a strategic roadmap aimed at transforming the Indian economy through a combination of growth-promoting investments and comprehensive reforms in key sectors such as agriculture, MSMEs, infrastructure, and exports. This is achieved through prudent fiscal management and regulatory modernization. The economic landscape has been shaped by key reforms like the introduction of the Goods and Services Tax (GST), digitisation, and financial inclusion since the National Democratic Alliance (NDA) came to power in 2014.

Finance Minister Nirmala Sitharaman has outlined agriculture, MSMEs, investment, and export as the four key drivers of development. Agriculture, in particular, receives considerable attention in the Budget. The plan focuses on transforming 100 low-productivity districts by integrating existing schemes with targeted interventions aimed at boosting productivity in crops such as pulses, fruits, vegetables, and millets. The strategy includes the introduction of high-yielding seeds, promoting crop diversification, improving post-harvest storage, and enhancing irrigation facilities.

A series of initiatives have been announced to boost tourism, including measures to simplify travel for foreign tourists, develop key tourist destinations, and promote medical tourism in collaboration with private sector stakeholders.

With over ten million registered MSMEs contributing significantly to manufacturing and employment, the Budget proposes a revision of classification criteria, raising investment and turnover thresholds. Additionally, sector-specific schemes for industries such as footwear, leather, toys, and food processing are introduced to enhance competitiveness, foster job creation, and promote exports.

The investment strategy hinges on the nation's people, economy, and innovation. Key initiatives include scaling up programs like Saksham Anganwadi and Poshan 2.0, establishing 50,000 Atal Tinkering Labs to foster innovation, and improving digital connectivity in rural schools and healthcare facilities.

The decision to allow 100% Foreign Direct Investment (FDI) in the insurance sector is a significant development. It will help strengthen the social security safety net for citizens while expanding the sector's reach. Additionally, the reduction of duties on cancer-treating life-saving medicines reflects the finance minister's sensitivity to public welfare.

The central focus of the Budget is on promoting exports, with the establishment of an Export Promotion Mission designed to streamline export credit and support MSMEs. The launch of 'BharatTradeNet', a unified digital platform for trade documentation and financing, is a major step in this direction. 

Indian Economy Budget Nirmala Sitaraman