BUDGET 2025 AT A GLANCE||| SOME KEY PROVISIONS

 

BUDGET 2025 AT A GLANCE

SOME KEY PROVISIONS

SARASIJ MAJUMDER

 

1.      10,000 additional seats to be inculcated in Medical Institutes in one year; 75,000 additional  medical seats will be created in next 5 years.

2.      100 GW target for Nuclear Power Generation by 2047.

3.      40,000 new houses will be added under Swayam Housing scheme.

4.      50 New Tourists’ destination will be developed by next year .

5.      A Maritime Development Fund with a corpus of ₹ 25,000 crore to be set up, with up to 49 per cent contribution by the Government, and the balance from ports and private sector.

6.      Atal Tinkering Labs (ATL) : 50,000 such labs are to be set up in government schools in 5 years. This is a part of Atal Innovation Mission (AIM). Comment: In my opinion, this shouldn’t turn out to be an wastage of Tax Payers’ money. Education is not a priority in Government school.

7.      Ayushman Bharat expansion: The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) has been allocated ₹4,200 crore to enhance health coverage for vulnerable populations.

8.      Cancer care expansion: The government will set up 200 daycare cancer centres in district hospitals over the next three years to improve treatment accessibility.

9.      Developing an Agri-District plan to increase productivity in Agricultural Sector.

10.  Expansion of capacity in all IITs & IISC,  especially more for  IIT Patna.

11.  FDI limit up to 100% increase in Insurance Sector.

12.  FIIs capital gain increase from 10 to 12.5% which will reflect on the Equity market negatively. This should have been avoided. A bad decision.

13.  Fiscal deficit to bring down to 4.4%.

14.  Focus on Non-Leather made Footwear.

15.  Focus on the Fishing sector. The production and  export  of Fish will be enhanced by using India’s coastal, and Marine Water.

16.  Focusing to become  global hub for manufacturing Toys .

17.  Fresh funds of ₹10k crore for new STARTUPS.

18.  Full Customs Duty  exemptions for 36 life-saving drugs, while six others will see a reduced 5 per cent customs duty, making essential medicines more affordable.

19.  Green field airports in Bihar and the expansion of Patna Airport.

20.  Health care provided to GIG workers: Health insurance under the PM Jan Arogya Yojana will now cover 10 million GIG workers, ensuring better healthcare access for this workforce. .

21.  Income Tax up to ₹12.0 Lakh per annum is exempted. MIG Salaried Class is benefitted.

22.  India’s defence sector received a total allocation of ₹6.81 trillion, up from ₹6.21 trillion from the previous year.

23.  Kisan credit limit increased from ₹3 lakh to ₹ 5 lakh per head for farmers.

24.  Makhana board in Bihar will support Makhana Farmers.

25.  Medical tourism boost: The ‘Heal in India’ initiative will streamline visa processes for international patients, strengthening India’s position as a Global Medical Hub.

26.  Mission to increase Cotton productivity in the country..

27.  Finance Minister Nirmala Sitharaman on Saturday announced the establishment of a new Centre of Excellence (CoE) in Artificial Intelligence (AI) for education with a budget of Rs 500 crore.

28.  Self-reliance in pulses: The government has set a goal to achieve self-sufficiency in pulse production within six years.

29.  Shipping and maritime:--

The Budget 2025 introduced key initiatives to boost India’s maritime sector and shipbuilding industry.

·         Maritime Development Fund: A ₹25,000 crore fund (49 per cent government contribution) will provide long-term financing for maritime projects.

·         Shipbuilding policy overhaul: The Shipbuilding Financial Assistance Policy (SBFAP) has been revamped, extending customs duty exemptions on raw materials for 10 more years.

·         Shipbreaking Credit Note Policy: A new credit note system will support ship recyclers based on the scrap value of vessels.

·         Infrastructure status for vessels: Large vessels will be granted infrastructure status, easing financing through external commercial borrowings and insurance funds.

·         Shipbuilding clusters: Plans to develop shipbuilding clusters aim to increase India’s share in the global market, currently at 0.06 per cent, with a vision to be among the top five shipbuilding nations by 2047.

What Emerge: In my opinion over all the budget is GOOD. It will drive economy, and Business. Middle Class people--  who are the backbone of the society, and country—got something. Senior citizens are as usual—not received much.

Source:-- Live BUDGET, written from  NOTES taken, and GOI site.

Image:- Google. Ownership acknowledged.