Union Budget 2025-26: A Stepping Stone Towards Viksit Bharat, Says FICCI

Synopsis

The Union Budget 2025-26 addresses pressing economic issues and lays the groundwork for a vision of a developed India, according to FICCI. The budget focuses on critical sectors like agriculture, MSMEs, and skill development, aiming to uplift the middle class and stimulate private investments.

Key Takeaways

Focus on Viksit Bharat vision
Support for key sectors: agriculture, MSMEs, youth, women
Changes in personal income tax structure
New measures for MSMEs
Skill development initiatives for emerging technologies

New Delhi, Feb 1 (NationPress) The Union Budget 2025-26 not only tackles the prevailing economic challenges but also establishes a robust groundwork for realizing the ‘Viksit Bharat’ vision, according to the Federation of Indian Chambers of Commerce and Industry (FICCI) on Saturday.

FICCI President Harsha Vardhan Agarwal remarked that the Budget is a well-rounded strategy that addresses pressing issues like boosting consumption while also paving the way for sustained economic growth.

“It incorporates essential reforms, financial incentives, and support for vital sectors such as agriculture, MSMEs, youth, and women,” Agarwal emphasized.

As per the leading business organization, alterations in the personal income tax framework are anticipated to augment disposable income, potentially leading to increased consumer spending.

Additionally, while the escalation in capital expenditure is somewhat modest compared to previous years, it is still viewed as a favorable development.

In her address of the Union Budget in parliament, Finance Minister Nirmala Sitharaman stated that a nation is characterized not merely by its territory but by its people.

“Budget 2025 encompasses 10 critical areas, prioritizing the poor, youth, farmers, and women. Agriculture, MSMEs, investments, and exports are the cornerstones of development,” FM Sitharaman noted.

For MSMEs, the budget introduces innovative measures, including a revamped classification system and elevated credit limits with guarantee coverage.

The budget also emphasizes the enhancement of the agricultural sector, with a special program set to be implemented in 100 districts facing lower productivity and limited access to credit.

A significant focus of the budget is on the maritime sector, introducing a new Maritime Development Fund aimed at fortifying the marine economy.

Moreover, to equip India’s workforce for emerging technologies, the budget outlines various skill development initiatives.

These include increasing capacity at IITs, expanding medical education seats, establishing 50,000 Atal Tinkering Labs, and launching a new Centre of Excellence for AI education.

FICCI expressed that the budget will elevate the middle class and stimulate private sector investments as demand surges across diverse industries.