Budget 2025: 'Our Development Track Record For The Past 10 years Have Drawn Global Attention': Fin Min
Budget 2025: Union Finance Minister Nirmala Sitharaman tables the Budget for the fiscal year 2025-26 in parliament on Saturday
Union Finance Minister Nirmala Sitharaman said while presenting the Union Budget 2025 that the Indian economy is the fastest growing among all major economies. The country's development track record for the past 10 years and structural reforms have drawn global attention. "Confidence in India's capability and potential has only grown in this period. We see the next 5 years as a unique opportunity to realise 'sabka vikas', stimulating balanced growth of all regions," she said.
“Viksit Bharat encompasses: zero-poverty; hundred per cent good quality school education; access to high-quality, affordable, and comprehensive healthcare; hundred per cent skilled labour with meaningful employment; seventy per cent women in economic activities; and farmers making our country the ‘food basket of the world’,” FM added.
This Budget proposes development measures across ten key areas, with a focus on the welfare of the poor, youth, farmers, and women. The initiatives aim to spur agricultural growth and productivity, build rural prosperity and resilience, and promote inclusive growth for all. Additionally, the Budget seeks to boost manufacturing and further the Make in India initiative, support MSMEs, and enable employment-led development. It also emphasizes investing in people, the economy, and innovation, securing energy supplies, promoting exports, and nurturing innovation.
The journey of development is powered by four key engines: Agriculture, MSMEs, Investment, and Exports. The fuel driving this progress is our ongoing reforms, while the guiding spirit is inclusivity. Ultimately, the destination is a Viksit Bharat, a developed and prosperous India, Fin Min said during her Budget Speech.
This year’s Budget was aimed to initiate transformative reforms across six domains. During the next five years, these will augment our growth potential and global competitiveness. The domains are: Taxation; Power Sector; Urban Development; Mining; Financial Sector; and Regulatory Reforms.
The Finance Minister announced several initiatives for different sectors including agriculture, education and MSME. The new income tax regime has also been updated this time.
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