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Context:
Finance Minister Nirmala Sitharaman unveiled major reforms on infrastructure, state development, asset monetization, mining, and domestic manufacturing.
Key Announcements
Public-Private Partnerships (PPP) in Infrastructure
- Each of the infrastructure-related ministries will formulate a 3-year project pipeline for the implementation of PPP.
- States encouraged to approach India Infrastructure Project Development Fund (IIPDF) to develop PPP proposals.
Infra Development Support to States
- Interest-free loans for 50 years amounting to ₹1.5 lakh crore allocated.
- Incentives based on capital expenditure and state-level reforms.
Asset Monetization Plan (2025-30)
- Launched a new ₹10 lakh crore Asset Monetization Plan, based on the 2021 initiative. Focus on reinvesting capital in new projects with better regulatory and fiscal measures.
Mining Sector Reforms
- Reforms for minor minerals, with emphasis on best practices. State Mining Index to evaluate and encourage mining efficiency at the state level.
PM Gati Shakti Data Access for Private Sector
- Relevant data and maps from the PM Gati Shakti portal to be made available.
- Aims to assist the private sector in project planning and execution.
Support for Domestic Manufacturing & Critical Minerals
- Full exemption on imports of:
- Cobalt powder and waste.
- Scrap of lithium-ion battery.
- Lead, Zinc, and 12 other critical minerals.
- Objective:
- Available raw material supplies for domestic manufacture.
- Provide more employment for India’s young generation.
Conclusion
The budget is to make investment in the economy speed up with:
- PPPs with infrastructure to make stronger.
- Financial support for reforms by states.
- Asset monetization expansion to free up capital for new projects.
- Domestic manufacturing growth through exemptions for critical minerals.
