From MSMEs to Semiconductors: Sitharaman Lays Out Big Budget Vision

Union Finance Minister Nirmala Sitharaman, while beginning her Budget speech in Parliament, laid out the government’s broad vision for economic growth, investment and inclusive development, outlining a series of key priorities aimed at strengthening India’s position in the global economy.

At the outset, Sitharaman said the Budget has been framed to ensure that people across the country can benefit from world-class facilities, underlining the government’s focus on improving the quality of life. She stressed that reducing poverty remains a central goal, noting that several important policy decisions have been taken over the years to lift people out of economic hardship.

Highlighting India’s economic journey, the finance minister said the country has witnessed uninterrupted economic growth over the past 12 years, even amid global challenges. She credited this progress to sustained policy efforts and reforms aimed at keeping the economy on a stable growth path.

Sitharaman emphasised that the government has consistently worked to boost investment in the country. Under the leadership of Prime Minister Narendra Modi, she said, the Centre has carefully designed and implemented policies after extensive deliberation, keeping long-term national interest in mind.

Addressing inclusivity, the finance minister said meeting the aspirations of the people while ensuring balanced development for all sections of society has been taken as a core responsibility. She added that enabling the growth of every segment of the population remains the government’s foremost duty.

Special focus, she said, has been placed on strengthening micro, small and medium enterprises (MSMEs), which play a crucial role in job creation and local economies. Over the next five years, the government will allocate Rs 10,000 crore to support the MSME sector and help small businesses become more resilient.

The Budget also stresses the importance of manufacturing and production, with Sitharaman stating that India must strengthen its footing in global markets. She announced significant allocations to key sectors, including Rs 10,000 crore over five years for the bio-farming sector and a major push for the semiconductor industry, where funding has been doubled with an additional Rs 40,000 crore earmarked for the next five years.

Looking ahead, the finance minister said India will place greater emphasis on artificial intelligence (AI) in the coming years, recognising its growing role in economic and technological transformation. Efforts to simplify the GST system will also continue to make compliance easier for businesses.

Among major infrastructure and development announcements, Sitharaman said new economic zones will be created in every city, while mineral corridors will be developed in four states to support industrial growth. The government will also encourage organic medicine manufacturing, signalling increased attention to sustainable and health-focused industries.

Also Read: January GST Mop-Up Hits Rs 1.93 Lakh Crore, Up 6.2%