Budget And Industry

India industrial output numbers to released with a reduced lag, says govt

India's industrial output in February was its weakest since August 2024, hurt by slowing manufacturing and mining sector growth

Budget 2025 paves way for stronger workforce, growing economy: PM Modi

PM Modi emphasized that investments have been prioritized equally across infrastructure, industries, people, economy, and innovation

Shivraj hails 'Atmanirbhar Budget', highlights farmer benefit schemes

'On one side, there is provision for Pradhan Mantri Kisan Samman Nidhi and on other there are provisions to provide farmers with low cost fertiliser, urea, DAP', Agriculture minister added

Budget 2025: Govt to develop top 50 tourist spots, streamline e-visas

The land for building key infrastructure in these destinations will be provided by states

Budget 2025-26 allocates Rs 2,500 crore for plug-and-play industrial parks

Finance Minister Nirmala Sitharaman has allocated Rs 2,500 in the Budget 2025-26 for a new scheme for plug and play industrial parks. The new scheme is formulated to facilitate development of investment-ready plug and play industrial parks with complete infrastructure. The minister has significantly increased the budgetary allocation for the Department for Promotion of Industry and Internal Trade (DPIIT), which deals with issues like foreign direct investment policy, startups and promoting manufacturing. According to the Budget documents, the allocation for the department has been increased by 64 per cent to Rs 13,145.06 crore for 2025-26 from the revised estimate of Rs 8,011 crore in 2024-25. The segments where allocations were increased for the next fiscal include intellectual property related works (Rs 321.34 crore), Footwear, Leather and Accessories Development Programme (Rs 350 crore), National Industrial Corridor Development and Implementation Trust (Rs 2,500 crore), Fund of

Customs duty cuts in certain areas to benefit American exports: GTRI

The customs duty reduction announced in the Budget on products such as motorcycles and synthetic flavouring essences would benefit American exports, economic think tank GTRI said on Sunday. The Global Trade Research Initiative (GTRI) said that despite the repeated criticism of India as the biggest tariff abuser and tariff king by the Trump-administration, the country's Budget has introduced significant tariff reductions on multiple products, many of which benefit the US exports. "With key tariff cuts on technology, automobiles, industrial inputs, and waste imports, India appears to be taking steps toward facilitating trade even as the global trade environment remains tense. Whether these reductions will alter Washington's view of India's trade practices or become a point of contention in the US election cycle remains to be seen," it added. Among the key tariff reductions, India lowered the duty on fish hydrolysate for the manufacturing of aquatic feed from 15 per cent to 5 per cent,

Focus product scheme to boost exports by Rs 1.1 trn for leather sector: CLE

The Budget announcement for rolling out of a focused product scheme for footwear and leather sectors will help enhance productivity, competitiveness and exports by over Rs 1.1 lakh crore, CLE said on Sunday. The Council for Leather Exports (CLE) said the scheme will support design capacity, component manufacturing, and machinery required for the production of non-leather quality footwear. "The scheme will support thrust areas like design capacity, component manufacturing, and machinery required for production of footwear and products," CLE Chairman Rajendra Kumar Jalan said, adding that the scheme is expected to facilitate employment for 22 lakh people, generate turnover of Rs Rs 4 lakh crore and exports of over Rs 1.1 lakh crore. He added that it will also enhance production and productivity by attracting investments and will strengthen the component and machinery ecosystem of the sector. CLE Executive Director R Selvam said the proposal to remove 20 per cent export duty on crust

Here's why after slashing taxes, India must now cut stifling red tape

Sitharaman has heeded the counsel of her advisers and announced a high-level committee for a review of all non-financial sector regulations, certifications, licenses, and permissions

Budget 2025: FM cuts customs duty on 40 items to boost manufacturing

After a comprehensive review of the customs rate structure, the government has decided to remove seven tariff rates

Budget 2025 to develop 50 tourist places, give Mudra loans to homestays

'Special focus' on destinations related to the life and teachings of Lord Buddha

SWAMIH boosts affordable housing, fund of Rs 15,000 cr to be established

Under the SWAMIH Fund, 50,000 dwelling units in stressed housing projects have been completed, and keys handed over to homebuyers

Govt announces plans to strengthen climate resilience, energy transition

The government on Saturday announced new initiatives to strengthen climate resilience and energy transition in the Union Budget 2025-26, including National Manufacturing Mission, High Yielding Seeds Mission and Nuclear Energy Mission. However, some experts felt the Budget fell short of delivering the bold and comprehensive climate action India urgently needs. Presenting the Budget, Finance Minister Nirmala Sitharaman said the government will support domestic industries in making solar panels, EV batteries, wind turbines and electrolyzers while working towards producing 100 GW of nuclear energy by 2047. It will also invest in small modular nuclear reactors (SMRs) and develop better seeds to help farmers deal with droughts, pests and changing weather patterns. Sitharaman announced a National Manufacturing Mission to help small, medium and large industries grow under the 'Make in India' initiative. "Given our commitment to climate-friendly development, the mission will also support c

Union Budget 2025: Sitharaman's key allocations and reforms across sectors

With a focus on healthcare, defence, agriculture, maritime, and education, the Budget aims to enhance infrastructure, boost self-reliance, and foster long-term growth

Those linking Budget to Bihar polls must back simultaneous polls: Chirag

BJP ally and Union minister Chirag Paswan on Saturday asked the opposition to support the bills proposing simultaneous elections to end the debate over Union Budgets allegedly favouring poll-bound states after Finance Minister Nirmala Sitharaman announced a host of development initiatives for Bihar. The Lok Janshakti Party (Ram Vilas) leader's jibe at the opposition came after some of its MPs linked the Bihar-centric announcements in the Union Budget to the assembly polls scheduled to be held in the eastern state later this year. The Union minister slammed the criticism, wondering why opposition parties are objecting to the development measures for Bihar. "In such a case they (opposition parties) should not fight the polls in Bihar. Bihar is also a part of this country and if it has got something, what is wrong with that? Announcements have been made to build IIT, greenfield airports, and food processing chains... All of this will be greatly beneficial for the youth of Bihar. What i

Budget FY26: Govt to launch export promotion mission worth Rs 2,250 crore

Under this mission, the department of commerce, micro, small and medium enterprises (MSME), and the finance ministry will set export-related targets for various sectors

Growth, capex, and debt: Key numbers to watch in Union Budget 2025

From fiscal deficit to defence spending and external debt, Budget 2025 will reflect the government's strategy to balance fiscal prudence with growth ambitions

Less progress made in design, component mfg in electronics industry: Survey

Indigenous electronics production increased multifold in the last 10 years to reach Rs 9.52 lakh crore in 2023-24, the Economic Survey said, but pointed out that the industry has largely focused on assembly, making limited progress in design and component manufacturing. However, India's electronics market represents 4 per cent of the global market, the survey, which was tabled in Parliament on Friday, said. "Programmes such as Make in India and Digital India, along with improved infrastructure, ease of doing business, and various incentives, have boosted domestic manufacturing and drawn foreign investments. "However, India's electronics market represents 4 per cent of the global market. The industry has largely focused on assembly, with limited progress in design and component manufacturing," the survey said. According to the survey, domestic production of electronic goods has increased substantially from Rs 1.90 lakh crore in FY15 to Rs 9.52 lakh crore in FY24, registering a compo

Union Budget 2025 expectations highlights: Will Budget 2025 raise tax deductions for homebuyers?

Union Budget 2025 Latest Updates: Catch all the latest developments related to Union Budget 2025 here

What products and services may see their prices change in Budget 2025?

The Finance Minister is expected to prioritise economic growth, domestic manufacturing, and offer relief to consumers in the upcoming budget to address inflation, fiscal consolidation, and job creatio

Industries across fields expect host of measures in Budget to propel growth

With Finance Minister Nirmala Sitharaman preparing to present the first full Budget of the Modi 3.0 government, industry players from various fields have put forth their demands for raising income tax limits, taking measures for more job creation, and further improving doing business to propel growth. The industry is hopeful that the government will announce a slew of measures to boost consumption by ensuring more money in the hands of people, boosting capital expenditure, giving relief to the housing sector and technological innovations. Moin Ladha, Partner at Khaitan & Co, opined that with the Union Budget 2025 fast approaching, the industry as a whole is confident of some interesting changes to the regulatory landscape, particularly changes to foreign investment policy, streamlined compliance, and key policy changes in certain sectors. One such key change that the Budget 2025 may bring is the introduction of 100 per cent foreign direct investment (FDI) in the insurance sector, .