Finance Minister Nirmala Sitharaman, while presenting her eighth Budget, said that the proposed development measures for India spans 10 broad areas of focus and this include supporting SMEs, promoting exports, agri growth, rural prosperity, manufacturing & financial inclusion, focus on poor, youth, farmers and women, taxation, power sector and urban development.
The finance minister also said that the Budget aims at ‘transformative’ reforms in 6 areas including taxation, financial sector, power sector, urban development, mining and regulatory reforms.
FM Sitharaman announced that 5 lakh women entrepreneurs from SC and ST communities will be provided term loans up to Rs 2 crore. For farmers, she announced that the loan limit increase under Kisan Credit Cards increased from Rs 3 lakh to Rs 5 lakh.
In terms of agriculture growth, she said that Dhan Dhanya Krishi Yojana will focus on 100 low productivity districts, while also announcing an agri programme to help 1.7 crore farmers. She also announced the National Mission for edible oil & seeds aimed at Aatmanirbharta in the sector. Sitharaman said that the government will launch a 6 Year mission to become Aatmanirbhar in pulses. Further, she said that a Makhana Board will be created in Bihar to improve processing, value addition. Sameer Sah, Partner Khaitan & Co, said, “The establishment of a Makhana Board in Bihar is a smart move. It recognizes the potential of this healthy snack to boost both the economy and public health, creating new opportunities for farmers and promoting healthier eating habits.”
During her Budget speech, the finance minister said that the focus of the Union Budget is to accelerate growth, inclusive development and boosting middle class spending to enhance the spending power of the middle class.