Budget's Core Pillars
Prime Minister Modi acknowledged the Union Budget's key areas of focus. He specifically mentioned the support for sunrise sectors such as Biopharma and
the Semiconductor Mission 2.0. Additionally, the budget incorporates plans for a rare earth corridor and new initiatives within the textile industry. He emphasized the aim of preparing champion MSMEs (Micro, Small, and Medium Enterprises). Modi also emphasized the importance of infrastructure development in Tier 2 and 3 cities, noting this as a key driver for accelerating economic growth. He also emphasized that the most important resource is the citizens of India, with a lot of investment focused on them in recent years.
Youth and MSMEs
Modi highlighted that the recent trade agreements are set to benefit the youth and MSMEs in India, suggesting that the Budget is aligned to promote this direction. He also acknowledged the Budget's emphasis on generating employment, and expressed happiness about steps taken to promote tourism, especially in the northeastern part of India. Modi characterized the Budget as a ‘Yuva Shakti budget’, reflecting the aspirations of the youth, while simultaneously indicating its aim to generate leaders, innovators, and creators. The initiatives mentioned will open new opportunities for youth and further provide tax reliefs, to facilitate India's emergence as a global data hub. He underscored the reforms as offering limitless opportunities for the Indian youth, building a foundation based on trust and governance.
Women's Empowerment
The Prime Minister acknowledged Union Finance Minister Nirmala Sitharaman as the first woman to present nine consecutive budgets, indicating the rise of women’s power, or “Naari Shakti”, in the country. He noted that over 10 crore women have become part of self-help groups. The Budget grants these women priority. Modi made special reference to the new hostels for girls in each district, saying these would help education. He added that the reforms offered an open sky for Indian youth to flourish and focused on trust-based governance, and reducing fiscal budget and inflation, while setting high CAPEX goals. India's 140 crore people want to be the third-largest economy and are not just content with being the fastest-growing economy.
Agricultural Boost
Modi referenced his government's continuing focus on agriculture, fisheries, and dairy sectors. He also mentioned provisions within the Budget that would offer assistance for the production of coconut, cashew, and sandalwood, confirming the creation of more employment opportunities in the villages. Modi concluded by describing the Budget as a ‘highway to endless opportunities’. This will strengthen the base for a bright future for India. It is also an important foundation for Viksit Bharat 2047. According to him, the Reform Express would achieve new speeds with this budget.
