New Delhi, February 1, 2025 – The Union Budget for the financial year 2025-26 was presented in Parliament today by Hon’ble Finance Minister Nirmala Sitharaman. The budget focuses on the government’s continued efforts to accelerate economic growth, ensure inclusive development, and bolster private sector investments. It also aims to uplift household sentiments and enhance the spending power of India’s rising middle class.

Budget Theme: Path to ‘Viksit Bharat’

The overarching theme of the budget revolves around realizing ‘Sabka Vikas’, with the aim to stimulate balanced growth across all regions of India. The vision of a Viksit Bharat (Developed India) includes:

Zero poverty
100% quality school education
Affordable and accessible healthcare
Skilled labor with meaningful employment
70% women in economic activities
Farmers contributing to making India the ‘food basket of the world’

The government has outlined a comprehensive set of development measures in ten key areas focused on uplifting the Garib, Youth, Annadata, and Nari. These include:

Spurring Agricultural Growth and Productivity
Building Rural Prosperity and Resilience
Inclusive Growth
Boosting Manufacturing and ‘Make in India’
Supporting MSMEs
Investing in People, Economy, and Innovation
Securing Energy Supplies
Promoting Exports
Nurturing Innovation

The government has identified four powerful engines for development: Agriculture, MSME, Investment, and Exports, with reforms acting as the fuel for this journey. The guiding spirit of the budget is Inclusivity, with the ultimate destination being Viksit Bharat.

Transformative Reforms Across Six Domains

This budget is set to initiate transformative reforms across the following six domains:

Taxation
Power Sector
Urban Development
Mining
Financial Sector
Regulatory Reforms

Agriculture: The First Engine for Development

The government has prioritized Agriculture as the first engine for India’s development. Several key initiatives are outlined to enhance agricultural productivity and ensure sustainable growth:

Prime Minister Dhan-Dhaanya Krishi Yojana: In partnership with state governments, this programme will focus on 100 districts with low agricultural productivity. It aims to improve crop diversification, sustainable practices, irrigation facilities, and post-harvest storage. This will benefit approximately 1.7 crore farmers.
Rural Prosperity and Resilience Programme: This comprehensive multi-sectoral initiative aims to tackle under-employment in agriculture through skilling, technology, and investment, creating opportunities in rural areas. The programme will particularly benefit women, young farmers, and marginalized communities.
Mission for Aatmanirbharta in Pulses: This six-year mission focuses on achieving self-reliance in pulses, with particular emphasis on Tur, Urad, and Masoor. Central agencies like NAFED and NCCF will procure these pulses, benefiting farmers who register and enter into agreements.
Makhana Board: A Makhana Board will be established in Bihar to enhance the production, processing, and marketing of Makhana, benefiting farmers through improved access to government schemes.
National Mission on High Yielding Seeds: This mission will enhance the research ecosystem and develop high-yield, pest-resistant, and climate-resilient seeds, benefiting over 100 seed varieties.
Aquaculture and Marine Fisheries: India, ranked second globally in fish production, will receive a boost with a framework for sustainable fisheries in the Andaman & Nicobar and Lakshadweep Islands.

Additional Key Agricultural and Rural Initiatives

Kisan Credit Cards (KCC): Loan limits will increase from INR 3 lakh to INR 5 lakh for farmers, fishermen, and dairy farmers under the Modified Interest Subvention Scheme.
Atmanirbharta in Urea Production: New plants will be set up to ensure self-sufficiency in urea production.
India Post as a Catalyst for Rural Economy: With over 1.5 lakh rural post offices, India Post will be repositioned as a catalyst for rural economic activities, helping entrepreneurs, MSMEs, and women-led initiatives.

Focus on Empowering Rural Women, Youth, and Small Farmers

A significant emphasis is placed on empowering rural women, youth, and small farmers by providing them with access to resources, training, and financial support. The government has also highlighted the role of Farmer Producer Organizations (FPOs) and cooperatives in driving agricultural growth and sustainability.

A Step Towards Transformative Growth

The Union Budget 2025-26 lays a strong foundation for inclusive growth and agricultural transformation. By focusing on agriculture as a key engine for development, alongside empowering MSMEs, promoting manufacturing, and boosting exports, this budget aims to catalyze a prosperous India. The government’s vision for Viksit Bharat is clear: growth with inclusivity, creating ample opportunities for the rising middle class and underserved communities.