Context:
Presenting the Union Budget 2025-26, Union Finance Minister Smt. Nirmala Sitharaman focused on India’s growth trajectory and highlighted the singular opportunity of the next five years for the realization of the vision of ‘Sabka Vikas’.
Key Highlights of the Budget
India’s Growth Potential
- Fastest-Growing Economy
- India remains the fastest major global economy growing, and their last 10 years of structural reforms have always been under strict global focus.
- Global Confidence
- There has been a great development in global confidence about the country’s capabilities and its potential as it has always placed it high on the global map.
Accelerating Growth & Inclusive Development
- The budget from the union will target inclusive development based on balanced growth in all sections, which is that the fruit of the economy reaches the people from each sector.
- For boosting private investment, augmenting the consumption power of the household economy, and changing the optimism of India’s rising middle class.
Four Growth Drivers
- The four potent growth drivers outlined in Union Budget 2025-26 are Agriculture, MSMEs, Investment and Exports. This budget will usher in transformative reforms in the following six critical areas regarding:
- Taxation
- Power Sector
- Urban Development
- Mining
- Financial Sector
- Regulatory Reforms
Vision for ‘Viksit Bharat’
- Inclusivity will take India’s development path towards:-
- Zero-poverty
- Quality school education for all
- Affordable healthcare
- Skilled labour and gainful employment
- Women’s economic participation (70% women in economic activities)
- Farmers are a part of the ‘status of India as the ‘food basket of the world’.
Ten Key Development Measures
- The FM mooted 10 broad areas that are to be in focus in the years ahead:
- Agricultural Growth & Productivity Rural Prosperity
- Resilience Inclusive Growth Manufacturing
- Make in India
- MSME Support
- Employment-led Development
- Investment in People
- Economy & Innovation
- Energy Supply Security
- Promotion of Exports
- Nurturing Innovation
Conclusion
This bold commitment towards developing a Viksit Bharat by the Union Budget 2025-26 rests on inclusivity, empowerment, and innovation towards sustainable growth. The speech of the Finance Minister once again highlights the need for
