AGRICULTURE, MSME, INVESTMENT, AND EXPORTS TO BE FOUR POWERFUL ENGINES IN JOURNEY OF DEVELOPMENT

FOCUS ON GARIB, YOUTH, ANNADATA AND NARI IN THE BUDGET

Next five years is seen as a unique opportunity to realize ‘Sabka Vikas’, said the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman while presenting the Union Budget 2025-26 in Parliament today. In her budget speech, the Union Finance Minister emphasized on stimulating balanced growth of all regions.

The Minister highlighted that our economy is the fastest-growing among all major global economies. Our development track record of the past 10 years and structural reforms have drawn global attention. Confidence in India’s capability and potential has only grown in this period, the Minister added.

The Union Budget 2025-26 highlights Government’s efforts to accelerate growth, secure inclusive development, invigorate private sector investments, uplift household sentiments, and enhance spending power of India’s rising middle class.

Specifying Agriculture, MSME, Investment, and Exports to be four powerful engines in journey of development, the Minister underlined that this budget aims to initiate transformative reforms across six domains. During the next five years, the domains of Taxation, Power Sector, Urban Development, Mining, Financial Sector and Regulatory Reforms will augment our growth potential and global competitiveness. The Finance Minister said that in the journey of development, “Our Reforms” is the fuel; where, “Inclusivity” is a guiding spirit; and the “Viksit Bharat” is the destination.

Focussing on Garib, Youth, Annadata and Nari in her Union Budget 2025-26 speech, the Union Finance Minister underscored on proposed development measures spanning ten broad areas. These are namely, Spurring Agricultural Growth and Productivity; Building Rural Prosperity and Resilience; Taking Everyone Together on an Inclusive Growth path; Boosting Manufacturing and Furthering Make in India; Supporting MSMEs; Enabling Employment-led Development; Investing in people, economy and innovation; Securing Energy Supplies; Promoting Exports; and Nurturing Innovation.

The Union Minister observed that “Viksit Bharat” encompasses zero-poverty; hundred per cent good quality school education; access to high-quality, affordable, and comprehensive healthcare; hundred per cent skilled labour with meaningful employment; seventy per cent women in economic activities; and farmers making our country the ‘food basket of the world’.

Budget priorities focus on inclusive growth through taxation and sectoral reforms to boost agriculture, MSMEs and exports. Union Budget 2025-26 prioritises Agriculture, MSME, Investment, and Exports as core growth engines and sets ten focus areas-including agricultural productivity, rural resilience, inclusive growth, manufacturing, MSME support, employment-led development, human capital investment, energy security, export promotion, and innovation. It designates six domains for transformative reform-Taxation, Power Sector, Urban Development, Mining, Financial Sector and Regulatory Reforms-to enhance competitiveness, stimulate private investment, and raise household spending power within a five-year development agenda.