As a proud Indian when one envisions an ideal budget, we visualise one that balances ambition with prudence, growth with stability, and most importantly, addresses the aspirations of both India Inc. and the common citizen.
Finance Minister Nirmala Sitharaman’s comprehensive budget for 2025-26 does exactly that, delivering on long-held aspirations – and my own wish list – for enhanced FDI, infrastructure development, and crucial sectoral reforms. The targeted fiscal deficit of 4.4 per cent for 2025-26, down from 4.8 per cent in the revised estimates for 2024-25, shows that fiscal discipline need not come at the cost of growth.
What particularly warms my heart is the budget’s focus on our MSMEs — the true champions of India’s economic story.
The enhanced credit guarantee cover from ₹5 crore to ₹10 crore, promising additional credit of ₹1.5 lakh crore over five years, will breathe new life into these enterprises.
Similarly, our farming community receives thoughtful attention through the Prime Minister Dhan-Dhaanya Krishi Yojana, set to transform the lives of 1.7 crore farmers through enhanced productivity and sustainable practices with focus on pulses, millets and high-yielding seeds. Finally, the tourism sector gets the much needed boost with several initiatives designed to generate employment and economic activity.
Infrastructure development remains a cornerstone of our growth story, with ₹1.5 lakh crore in interest-free loans to states for capital expenditure.
The innovative Urban Challenge Fund of ₹1 lakh crore promises to reshape our cities for the future. While significant strides have been made, the electric vehicle ecosystem could benefit further from granting industry status to EV charging infrastructure, accelerating India’s clean mobility transition.
The government’s bold move on FDI liberalisation, particularly raising the insurance sector’s limit to 100 per cent, sends a powerful message to global investors: India is not just open for business; it’s ready to lead. The commitment to revamp the Bilateral Investment Treaty framework further strengthens this message.
For the middle class – the backbone of our consumption story – the personal income tax reforms ensuring zero tax up to ₹12 lakh income represent more than just financial relief; they represent trust in the taxpayer and recognition of their contribution to nation-building. This measure will put more money in people’s pockets, spurring consumption and economic vitality.
