Budget 2025: Summary
Summary of Government Budget are :
The Union Budget 2025 focuses on economic growth, development, and social welfare. Key themes include support for the poor, women, and youth, along with increased investment in rural development and manufacturing. The budget also introduces significant reforms in the financial sector to boost India’s economic trajectory.
Key Highlights:
- Economic Focus: The budget prioritizes overall economic development, emphasizing infrastructure, manufacturing, and global economic resilience to ensure steady growth.
- Social Welfare: It enhances support schemes for underprivileged communities, women entrepreneurs, and youth employment.
- Rural Development & Manufacturing: Increased investment is aimed at boosting agricultural productivity and strengthening domestic manufacturing to reduce reliance on imports.
Major Announcements:
Agriculture & Rural Development
- Dhan Dhanya Yojana launched in 100 districts to promote sustainable agriculture and food security.
- Special 6-year mission for Tur, Urad, and Masoor dal to ensure self-sufficiency in pulse production.
- Makhana Board to be set up in Bihar to boost production and export opportunities.
- Central agencies to purchase pulses for four years, ensuring price stability for farmers.
- New schemes for vegetable and fruit production to enhance farm productivity and boost exports.
- Development of the marine sector with increased investment in fisheries and seafood exports.
- Kisan Credit Card limit increased to ₹5 lakh, providing better financial access to farmers.
- Urea plant to be established in Assam, reducing dependency on imports and ensuring fertilizer availability.
Industry & Manufacturing
- National Manufacturing Mission launched to strengthen domestic industries and reduce dependency on foreign imports.
- 22 lakh new jobs to be created under the Leather Scheme, supporting employment and industrial growth.
- India to become a global hub for toys through policy incentives and local manufacturing push.
- Special schemes for footwear and leather industries to increase export competitiveness and job creation.
Infrastructure & Urban Development
- ₹1 lakh crore fund allocated for urban development, improving city infrastructure and housing.
- Interest-free funds for states to boost infrastructure development in key sectors.
- More cities to be connected under the ‘Udaan’ scheme, enhancing regional air connectivity.
- New airport in Bihar to facilitate economic and tourism growth.
- 40,000 housing units are to be built under the SWAMIH scheme to provide affordable housing.
- Development of 52 new tourist destinations to promote domestic tourism and local economies.
- New mining policy to be introduced, ensuring sustainable mining practices.
- Special scheme for the ship-breaking industry to improve maritime recycling and job creation.
Education & Technology
- More IIT institutes are to be established, promoting high-quality technical education.
- 75,000 new medical seats to be created in the next five years, addressing healthcare workforce shortages.
- Special AI research centers are to be set up, advancing innovation and technological development.
- All government secondary schools are to be connected with broadband, improving digital education access.
- Increased focus on Indian languages in education, preserving linguistic heritage.
- Special scheme for preserving Indian scripts, promoting cultural conservation.
Financial & Tax Reforms
- New Income Tax Bill to be introduced next week, simplifying tax regulations.
- 100% FDI limit in the insurance sector, attracting more foreign investment.
- 100% FPI limit in the insurance sector, promoting financial market expansion.
- Simplification of the RE-KYC process, reducing bureaucratic hurdles for financial transactions.
- TDS rates to be made simpler, ensuring easier tax compliance.
- Major tax relief for senior citizens, improving financial security.
- The tax exemption limit for senior citizens increased to ₹1 lakh, reducing tax burdens.
- TDS exemption limit on rent increased to ₹6 lakh, benefiting landlords and tenants.
- No penalty on delayed TCS payments, easing compliance for businesses.
- UPI-linked credit card limit set at ₹30,000 for small vendors, improving financial inclusion.
- Special credit cards for small businesses, enhancing credit access and growth opportunities.
Healthcare & Energy
- Health insurance scheme for small workers, ensuring better medical coverage.
- Custom duty removed on 36 life-saving medicines, making essential drugs more affordable.
- Increased focus on nuclear energy by 2047, promoting sustainable power generation.
- Special scheme for nuclear energy development, boosting clean energy initiatives.
Trade & Exports
- New schemes to boost exports, strengthening India’s position in global trade.
- Easier access to funds for export promotion, enabling businesses to expand internationally.
- ₹20,000 crore investment in R&D for the private sector, encouraging innovation and technological progress.
- Buddha-related sites to be developed for tourism, preserving heritage and attracting visitors.
The Budget 2025 presents a well-rounded plan for economic progress, social development, and financial stability. By focusing on key sectors, the government aims to propel India towards becoming a global economic powerhouse.