FM Sitharaman’s Bold Budget 2025-26: Pioneering Job-Led Inclusive Growth for a Thriving Future
New Delhi, Feb 1: Finance Minister Nirmala Sitharaman unveiled the Budget for 2025-26, focusing on employment-driven inclusive growth through strategic investments in agriculture, MSMEs, and exports. Her address highlighted India’s position as the fastest-growing major economy, with the budget aiming to advance infrastructure, governance, and sustainable development.
Key initiatives involve maintaining fiscal discipline with a budget deficit target reduction from 4.8% of GDP in 2024-25 to 4.4% in 2025-26, alongside revising the government’s FY26 borrowing target upward by 5.7% to Rs 14.82 lakh crore. A notable move includes exempting annual income up to Rs 12 lakh from income tax, offering financial relief to the middle class and stimulating economic spending.
The budget outlines agriculture and MSMEs as primary growth drivers. An agricultural district programme targeting 100 underproductive districts seeks to benefit 1.7 crore farmers through enhanced credit facilities. The Kisan Credit Card loan limit will increase to Rs 5 lakh under an interest subvention scheme.
Supporting the MSME sector, which contributes 36% to India’s manufacturing and 45% to exports, Sitharaman announced expanded investment and turnover limits, expected to foster growth and job creation. Specific measures to enhance productivity in the footwear and leather sector, projected to create 22 lakh jobs and boost exports, will complement initiatives for the toy industry aiming to establish India as a global hub for high-quality, sustainable toys.
Further investments will target human capital through the Sashakt Anganwadi and Poshan 2.0 programmes, addressing malnutrition among vulnerable demographics. Sitharaman’s budget presentation reflected a commitment to leveraging investments in people, innovation, and the economy, driving India towards a “Viksit Bharat.”
Original Source: https://theshillongtimes.com/2025/02/01/fm-sitharaman-goes-for-big-push-to-job-led-inclusive-growth-in-budget-2025-26/
Category : Economy,NATIONAL,News Alert
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Publish Date: 2025-02-01 14:26:00
