Presenting the Union Budget 2025-26, Finance Minister Nirmala Sitharaman outlined a vision for a ‘Viksit Bharat’ (Developed India), emphasizing growth initiatives targeting key sectors, including manufacturing, agriculture, social security, and financial reforms. This marks the eighth consecutive budget presented by the NDA government under Prime Minister Narendra Modi’s leadership.
A significant highlight of the budget is the government’s strong push to establish India as a global toy manufacturing hub. Sitharaman announced measures to scale up domestic production and strengthen the ‘Make in India’ campaign. A comprehensive plan to develop toy manufacturing clusters and ecosystems will be implemented, aiming to create a skilled workforce and boost exports in the sector.
Reaffirming the government’s commitment to inclusivity, Sitharaman structured the budget around the aspirations of GYAN—an acronym representing Garib (Poor), Yuva (Youth), Annadata (Farmers), and Nari Shakti (Women). Various schemes have been introduced to uplift these segments, focusing on financial empowerment, entrepreneurship, and job creation.
For marginalized groups, a major scheme has been announced, offering loans of up to ₹2 crore to first-time entrepreneurs from among five lakh women, Scheduled Castes, and Scheduled Tribes. The initiative aims to foster self-reliance and financial independence among disadvantaged communities, creating new economic opportunities.
In a move to address the growing gig economy, Sitharaman introduced social security measures for one crore gig workers. These workers, engaged in various digital and platform-based jobs, will be issued ID cards, ensuring access to government welfare schemes and other essential services. The move is expected to enhance financial security and provide stability to this expanding workforce.
The agricultural sector has also received a significant boost, with the government unveiling measures to benefit 1.75 crore farmers across India. Sitharaman announced the launch of the Prime Minister Krishi Yojana, which aims to accelerate agricultural development in collaboration with state governments. Inspired by the success of the Aspirational Districts Programme, this initiative seeks to modernize farming practices, enhance productivity, and improve farmers’ incomes.
Beyond these sectoral initiatives, the Finance Minister introduced transformative reforms across six critical domains to strengthen India’s growth trajectory and global competitiveness. These include taxation, power sector reforms, urban development, mining, financial sector improvements, and regulatory enhancements. Each of these reforms is designed to stimulate investment, drive innovation, and simplify processes for businesses and individuals alike.
The Budget Session of Parliament commenced on January 31 and will be conducted in two phases. The first phase will continue until February 13, while the second phase will run from March 10 to April 4. The budget, widely regarded as a blueprint for India’s economic ambitions, is expected to lay the groundwork for sustainable growth and a globally competitive economy.
