Union Finance Minister Nirmala Sitharaman made a statement in her attire on the day of the Union Budget presentation, wearing a beautiful Madhubani saree, a traditional art form from Bihar. This subtle nod hinted at a strong focus on Bihar in the upcoming budget, which was later confirmed in her speech.
In her opening remarks, Sitharaman emphasised that the government’s goal of “Sabka Vikas” would be realised by stimulating balanced growth across all regions, with particular attention to states like Bihar, which is gearing up for elections later this year.
She highlighted several schemes aimed at improving Bihar’s economic landscape, starting with the establishment of a National Institute of Food Technology to boost food processing and generate employment for the youth in eastern India.
“In line with our commitment towards ‘Purvodaya’ (rise of eastern states), we will establish a National Institute of Food Technology, Entrepreneurship and Management in Bihar,” Sitharaman said.
The institute will provide a “strong fillip” to food processing activities in the entire eastern region, the minister said.
“This will result in enhanced income for the farmers through value addition to their produce, and skilling, entrepreneurship and employment opportunities for the youth,” she added.
Additionally, a Makhana Board will be created to support the production, processing, value addition, and marketing of Makhana in Bihar. This initiative will organise farmers into FPOs and provide training and support, ensuring they benefit from relevant government schemes.
The budget also includes plans to expand infrastructure at five IITs, including IIT Patna, and enhance the Kisan Credit Card scheme’s interest subvention limit from Rs 3 lakh to Rs 5 lakh. Furthermore, a new program, PM Dhan Dhany Krishi Yojna, will cover 100 districts with low agricultural productivity, focusing on 1.7 crore farmers to improve agricultural yield and storage at the panchayat level.
Other initiatives include a six-year plan for self-reliance in pulses, a Rs 10,000 crore fund for startup support, and a special scheme to support 5 lakh women SC/ST first-time entrepreneurs with loans up to Rs 2 crore over the next five years.
In addition, Sitharaman revealed plans for expanding medical education, with 10,000 new seats added in the coming year and 75,000 more over the next five years. The government will also set up daycare cancer centres in district hospitals and provide e-shram registration to assist 1 crore gig workers. All these measures reflect the government’s commitment to driving inclusive growth and development, particularly in states like Bihar.