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India’s Union Budget for 2025

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India’s Union Budget for 2025

India’s Union Budget for 2025, presented by Finance Minister Nirmala Sitharaman, outlines a comprehensive strategy to bolster economic growth, enhance infrastructure, advance technology, improve healthcare, and promote skill development. The budget emphasizes fiscal responsibility, aiming to reduce the fiscal deficit to 4.4% of GDP, down from 4.8% in the previous year.

Key Announcements:

  1. Fiscal Responsibility: The government reaffirms its commitment to maintaining a declining trajectory of government debt as a percentage of GDP, ensuring long-term economic stability.
  2. Travel & Tourism Boost: The Udaan Scheme has been modified to enhance regional air connectivity, targeting 40 million passengers over the next decade. New greenfield airports are planned in Bihar, and the top 50 tourism destinations will undergo development to attract more visitors.
  3. Rural Connectivity & Education: The BharatNET initiative aims to provide broadband access to government secondary schools and primary health centers in rural areas, bridging the digital divide and improving access to education and healthcare.
  4. Skill Development: Five National Centers of Excellence will be established to equip youth with global expertise under the “Make for India, Make for the World” initiative, enhancing employability and fostering innovation.
  5. Nuclear Power Expansion: A new Nuclear Mission is set to develop 100 GW of nuclear energy by 2047, with plans to have five small modular reactors operational by 2033, contributing to sustainable energy goals.
  6. Innovation in Schools: To foster creativity and problem-solving skills, 50,000 Atal Tinkering Labs will be established in government schools across the country.
  7. Manufacturing & Industry: The National Manufacturing Mission will support clean technology across small, medium, and large industries, promoting sustainable industrial growth.
  8. Healthcare Expansion: An additional 10,000 seats will be added in medical colleges and hospitals, with a goal of creating 75,000 new seats over the next five years to address the shortage of healthcare professionals.
  9. Agriculture & Rural Development: A Makhana Board will be established in Bihar, along with National Missions focusing on high-yielding seeds and cotton productivity, aiming to boost agricultural output.
  10. Farmer Support: The PM Dhandhanya Krishi Yojana is set to benefit 17.4 million farmers across 100 districts by improving productivity, irrigation, and access to credit.
  11. MSME & Start-up Growth: The Credit Guarantee Cover has been enhanced to ₹10 crore for MSMEs and ₹20 crore for startups, facilitating easier access to finance for small businesses.
  12. AI & Education: A ₹500 crore Centre of Excellence in AI for education will be established, along with additional infrastructure in five IITs founded post-2014, to integrate advanced technology into the education sector.
  13. Manufacturing Boost: The Focus Products Scheme for the footwear and leather sector aims to improve productivity and global competitiveness, supporting the ‘Make in India’ initiative.
  14. Healthcare Relief: An additional 36 life-saving drugs and medicines have been exempted from customs duty, making essential healthcare more affordable.
  15. Taxation Reform: A new Income Tax Bill has been introduced, aiming at simplification, providing certainty, and reducing litigation, thereby making tax compliance more straightforward for citizens.

Budget at a Glance:

SectorKey Initiative
Fiscal ResponsibilityCommitment to reducing fiscal deficit to 4.4% of GDP
Travel & TourismModified Udaan Scheme; new airports in Bihar; development of top 50 tourism destinations
Rural ConnectivityBharatNET to provide broadband to rural schools and health centers
Skill DevelopmentEstablishment of five National Centers of Excellence
Nuclear PowerNew Nuclear Mission targeting 100 GW by 2047; five modular reactors by 2033
Education50,000 Atal Tinkering Labs in government schools
Manufacturing & IndustryNational Manufacturing Mission supporting clean technology
HealthcareAddition of 10,000 medical seats; goal of 75,000 new seats in five years
AgricultureEstablishment of Makhana Board; missions on high-yielding seeds and cotton productivity
Farmer SupportPM Dhandhanya Krishi Yojana benefiting 17.4 million farmers
MSME & Start-upsEnhanced Credit Guarantee Cover for MSMEs and startups
AI & Education₹500 crore Centre of Excellence in AI; infrastructure in five new IITs
Manufacturing BoostFocus Products Scheme for footwear and leather sector
Healthcare ReliefExemption of 36 more life-saving drugs from customs duty
Taxation ReformIntroduction of a new Income Tax Bill for simplification and reduced litigation

This budget reflects the government’s dedication to fostering inclusive development, enhancing infrastructure, and promoting sustainable economic growth across various sectors.

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