Hard work and sincere
planning are two crucial aspects those worked behind the making of the Budget
2025-26. Finance Minister NirmalaSitharaman and her team deserve all the credit
for presenting a Dream Budget at the crucial juncture of the Indian economic
history.
The Budget will go a long way to enforce India's
role as a dynamic player in the global economy in the next few years and
beyond.No wonder, the Union Budget 2025-26 has received positive reactions
across industries, with experts lauding the Government's focus on economic
reforms and ease of doing business.
The proposed revised tax rates, which highlights
that income up to Rs 12 lakh will draw zero income tax rates has won the heart
of Indian middle class. It is truly a thoughtful gesture. It delights me to
note that the India's capital expenditure (Capex) has now risen to Rs 11.21
crore as per the budget estimates of 2025-26.
The cut in taxes for the middle class is
certainly welcome as it will boost more spending, higher consumption, jump in
savings and hence enhanced investments.
The Modi government also offers a roadmap to
generate as much as 22 lakh jobs in the economy. I also take a personal
pleasure to note that India will aim to enhance the productivity, quality, and
competitiveness of the leather sector.
Yet another feature about the Budget is the
facelift given to the UDAN Scheme.
The Centre now plans to launch a modified version
of the UDAN Scheme, which aims to enhance regional connectivity to 120 new
destinations.
The aviation industry is a great happening
scheme of things in the country and we may have a day soon when air operators
will carry four crore passengers in the coming 10 years.
I am also happy that the Budget proposals have
tried to take and list out measures by which - Telecom equipment, Cancer and
lifesaving drugs, Solar PV cells and lithium-ion batteries and Lithium-ion
batteries for Electric Vehicles and mobiles will be cheaper. This will work as
booster to the overall economy.
Notably, the government has
shown the right sensitiveness in making the announcement for setting up of Day
Care Cancer Centres in all district hospitals over the next three years.
Moreover, the exemption of 36 life-saving cancer drugs from customs duty
will reduce the financial strain on patients, reinforcing affordability.
India is now the world's fifth-largest economy
and hence it is time to play global. Therefore the continued economic reforms
as indicated by the Govt are essential to strengthen commercial ties with the
US.
This, I believe as many experts have said will
unlock new growth opportunities.
The Budget 2025-26 also focuses adequately on
agriculture, MSMEs, investment, and exports.
While the Budget outlines a vision for economic
resilience, technological advancement, and global competitiveness, India’s
growth trajectory requires sustained and deeper reforms.
The recognition of critical minerals as a
strategic asset, along with a National Critical Minerals Mission and an
allocation of Rs 450 crore, for the forthcoming financial year is a critical
measure in the right direction.
The government's stance on the Energy security
is also welcome and the announcement of a Nuclear Energy Mission for Small
Modular Reactors (SMRs) with an outlay of Rs 20,000 crore is commendable.
Similarly, while the proposed increase in FDI
limits for the insurance sector from 74 per cent to 100 per cent is promising.
In the ultimate, the Budget 2025 is anticipated to bring about significant shifts in market dynamics and the consumption-driven sectors will emerge as potential winners.
(M ChubaAo is BJP National Vice
President)
