
New Delhi: The highlights of the Union Budget 2025-26 are as follows:
- The total receipts other than borrowings and the total expenditure are estimated at ₹ 34.96 lakh crore and ₹ 50.65 lakh crore respectively.
- The net tax receipts are estimated at ₹ 28.37 lakh crore.
- The fiscal deficit is estimated to be 4.4 per cent of GDP.
- The gross market borrowings are estimated at ₹ 14.82 lakh crore.
- Capex Expenditure of ₹11.21 lakh crore (3.1% of GDP) earmarked in FY2025-26.
- The Union Budget 2025-26 defines agriculture, MSME, investment, and exports as key drivers fueled by reforms and guided by the spirit of inclusivity on the path to a developed India – Viksit Bharat.
- The Government significantly increased budget allocations to the agriculture sector, rising from ₹11,915.22 crore in 2008-09 to ₹1,22,528.77 crore in 2024-25, demonstrating its commitment to the sector.
- A National Manufacturing Mission” will cover small, medium and large industries for furthering “Make in India”.
- A new ‘Focus Product Scheme’ for the footwear and leather sectors will generate employment for 22 lakh persons .
- A national action plan for toys will make India a global hub for toys.
- ‘Bharattradenet’ for international trade will be set up as a unified platform for trade documentation and financing solutions: union budget 2025-26.
- Domestic manufacturing capacities will be augmented to integrate the Indian economy with global supply chains .
- The government will support the domestic electronic equipment industry to leverage the Opportunity of Industry 4.0 .
- A National Framework for States will be formulated for promoting global capability centres in emerging Tier 2 cities.
- To help MSMEs achieve higher efficiencies of scale, technological upgradation and better access to capital, the investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 and 2 times respectively.
- Credit guarantee cover for micro and small enterprises will be enhanced from 5 crores to 10 crores.
- 10 lakh customised credit cards with a 5 lakh limit for micro-enterprises registered on the Adam portal will be introduced in the first year.
- A new fund of Rs. 10,000 crore will be set up for start-ups . A new scheme to provide loans up to 2 crores during the next 5 years for 5 lakh women, scheduled castes and scheduled tribes first-time entrepreneurs will be launched.
- An export promotion mission to facilitate easy access to export credit and support MSMEs to tackle non-tariff measures in overseas markets is announced.
- The FDI limit for the insurance sector will be raised from 74 to 100 per cent.
- A forum for regulatory coordination and development of pension products will be set up.
- Roll out of revamped central KYC registry planned in 2025 .
- Procedures for speedy approval of company mergers will be rationalised, and the process will be made simpler.
- A record over Rs 6.81 lakh crore is allocated in Union Budget 2025-26 for the Ministry of Defence, an increase of 9.53% from the current Financial Year.
- Rs 1.80 lakh crore allocated under the Capital Budget of Armed Forces; Modernisation a key focus area; Rs 1.12 lakh crore earmarked for procurement from domestic industries.
- 14% increase in allocation for defence pension; Rs 8,317 crore allocated for Ex-Servicemen Contributory Health Scheme.
- 12% hike for Defence Research and Development Budget .
- Significant jump of 43% in the Capital Budget of the Indian Coast Guard; Rs 7,146 crore allocated to Border Road Organisation under Capital Head.
- 1 lakh crore urban challenge fund to implement ‘cities as growth hubs’.
- National Geospatial Mission will develop foundational geospatial infrastructure and data .
- Gig workers to get identity cards and registration on the e-shram portal .
- Gig workers will be provided healthcare under PM Jan Arogya Yojana – nearly one crore will get assisted.
- UPI-linked credit cards with a Rs. 30,000 limit under PM Svanidhi Scheme for street vendors.
- A Maritime Development Fund of Rs 25,000 crore is proposed.
- The Shipbuilding Financial Assistance Policy will be revamped to address cost disadvantages, which will also include Credit Notes for shipbreaking in Indian yards to promote the circular economy.
- Large ships above a specified size are proposed to be included in the infrastructure harmonized master list (HML).
- ‘Shipbuilding Clusters’ will be facilitated to increase the range, categories and capacity of ships.
- The modified UDAN Scheme will connect 120 new destinations and carry four crore passengers in the next 10 years.
- Greenfield airports and the Western Koshi Canal project for Bihar.
- 50,000 Atal tinkering labs will be set up in government schools in the next 5 years to cultivate the spirit of curiosity and innovation and foster a scientific temper among young minds.
- Bharatiya Bhasha Pustak scheme will provide digital-form Indian language books.
- Allocation of Rs 20,000 crore to implement private sector-driven research, development and innovation.
- Provision of 10,000 fellowships for technological research in IITs and IISC under the PM Research Fellowship Scheme.
- 5 National Centres of Excellence for Skilling will equip youth for “Make for India, Make for the World” manufacturing.
- Centre of Excellence in artificial intelligence for education with a total outlay of Rs 500 crore.
- As part of investing in people, the Union Budget 2025-26 proposes to enhance the cost norms for the nutritional support under Saksham Anganwadi and Poshan 2.0 programme. The programme provides nutritional support to more than 8 crore children, 1 crore pregnant women and lactating mothers all over the country, and about 20 lakh adolescent girls in aspirational districts and the north-east region.
- Day Care Cancer Centres will be set up in all district hospitals; 200 centres will be set up in 2025-26.
- Medical tourism and Heal in India will be promoted in partnership with the private sector.
- 36 lifesaving drugs and medicines fully exempted from basic customs duty.
- Public-Private Partnership (PPP) in Infrastructure.
- An outlay of ₹1.5 lakh crore for the 50-year interest free loans to States for capital expenditure and incentives for reforms.
- Asset Monetisation Plan 2025-30 to plough back capital of ₹10 lakh crore in new projects with fine-tuning of the regulatory and fiscal measures.
- Mining sector reforms, including those for minor minerals, are proposed through the sharing of best practices and the institution of a State Mining Index.
- PM Gati Shakti Data for Private Sector is proposed for furthering PPPs and assisting the private sector in project planning.
- Support to domestic manufacturing and value addition of critical minerals by fully exempting cobalt powder and waste, the scrap of lithium-ion batteries, Lead, Zinc and 12 more critical minerals to secure their availability for manufacturing in India and promote more jobs for India’s youth.
- A high-level committee for regulatory reforms will be set up for the review of all non-financial sector regulations, certifications, licenses, and permissions.
- The government will launch an Investment-friendliness Index of States in 2025.
- Jan Vishwas Bill 2.0 will be brought to decriminalise more than 100 provisions in various laws.
- Top 50 tourist destination sites in the country will be developed in partnership with states through a challenge mode. Land for building key infrastructure including hotels will have to be provided by states and hotels in these destinations.
- Manuscript Heritage will be undertaken to cover more than 1 crore manuscripts.
- A slew of Direct Tax reforms are proposed.
- Changes in GST laws are proposed to ensure trade facilitation.
– global bihari bureau