The Union Budget for 2025-26, presented by Finance Minister Nirmala Sitharaman, emphasizes India’s commitment to inclusive growth and positions the country as a competitive player on the global economic stage. Built around four key engines: Agriculture, MSMEs, Investment, and Exports, this budget intends to leverage reforms to drive India's growth.
One of the central themes is the role of agriculture as the first engine of growth. The Prime Minister Dhan-Dhaanya Krishi Yojana is set to develop 100 low productivity districts, encouraging modern agricultural techniques, crop diversification, and sustainable farming practices. This initiative aims to improve irrigation facilities and financial support, addressing agricultural sector challenges.
The Mission for Aatmanirbharta in Pulses focuses on self-sufficiency by boosting production of key pulses and enhancing quality through improved seed research and post-harvest management practices. Sustainable agriculture is also on the agenda, with initiatives promoting organic farming, precision agriculture, and soil health improvements.
Micro, Small, and Medium Enterprises (MSMEs) emerge as the second engine of growth. The budget redefines investment and turnover limits for MSMEs, improving access to credit with increased guarantees and customized credit cards for micro-enterprises. A new Fund of Funds will support startup initiatives, fostering innovation and driving job creation.
Education and skills development represent the third growth engine. The Saksham Anganwadi and Poshan 2.0 programs provide nutritional support to millions, which is complemented by establishing 50,000 Atal Tinkering Labs to nurture innovation among students. An emphasis on digital connectivity aims to bridge the gap between education and employability.
The government is also investing heavily in the healthcare sector, with plans for increasing medical education seats and establishing Day Care Cancer Centres across district hospitals, ensuring improved healthcare access for citizens.
Exports are identified as the fourth engine, with initiatives like the Export Promotion Mission and the creation of BharatTradeNet to streamline trade processes. These initiatives aim to integrate India more effectively with global supply chains, providing support to MSMEs to navigate international standards and regulations.
Further, reforms are underscored as the necessary fuel to drive these growth engines. Tax reforms, financial sector changes, and regulatory reforms seek to ease the business environment and boost economic activity. The government pledges to keep fiscal deficit under control, presenting pathways for fiscal consolidation alongside growth aspirations.
At the National Colloquium on Union Budget 2025-26 hosted by Chitkara University, experts underscored the importance of strategic fiscal policies and sustainable development. Discussions revolved around investing in higher education to align academic knowledge with employability, emphasizing rural development as pivotal to economic growth.
Ambassador Atul Keshap, President of the US India Business Council, welcomed the budget's focus on agriculture and MSMEs, urging even more ambitious reforms in taxation and business procedures to strengthen India's commercial ties with the US and improve investment attractiveness.
The Union Budget 2025-26 paints a comprehensive picture of India’s economic future, highlighting inclusive policies, strategic investments, and necessary reforms. It aims for long-term sustainable development, positioning India as not just another regional player but as a leader on the world stage, aspiring for the vision of Viksit Bharat by 2047.