Page 19 - Union Budget

Govt to form panel for regulatory reforms: FM in Union Budget speech

The government on Saturday announced measures like setting up a high-level committee for regulatory reforms and releasing investment friendliness index of states to further improve business environment of the country. Finance Minister Nirmala Sitharaman in her Budget speech said the government will now bring up the second part of Jan Vishwas Bill to decriminalise more than 100 provisions in various laws. The first part - Jan Vishwas Act 2023 - decriminalised more than 180 legal provisions to cut compliance burden for industry. "A High-Level Committee for Regulatory Reforms will be set up for a review of all non-financial sector regulations, certifications, licenses, and permissions," Sitharaman said. The committee will be expected to make recommendations within a year. "The objective is to strengthen trust-based economic governance and take transformational measures to enhance ease of doing business, especially in matters of inspections and compliances. States will be encouraged

Govt to share selected data, maps from PM Gati Shakti with pvt sector: FM

The government on Saturday announced to provide certain data and maps from the PM Gati Shakti portal to the private sector, a decision which could help them optimize last-mile delivery services and develop infrastructure-based applications. PM Gati Shakti national master plan initiative was launched in October 2021 for integrated and planned development of critical infrastructure projects to reduce logistics costs. "For furthering PPPs (public private partnerships) and assisting the private sector in project planning, access to relevant data and maps from the PM Gati Shakti portal will be provided," Finance Minister Nirmala Sitharaman said in her Budget speech. Using these data layers like track length details, railway stations, DFC (Dedicated Freight Corridor), Good Sheds, national and state highways/ district layers, MMLPs (Multi Modal Logistics Parks), ware houses, existing airports from different ministries will help private sector to optimize last mile delivery services, ...

Budget strengthens India's position as innovation powerhouse, say startups

The Union Budget 2025-26 marks a significant milestone for India's startup ecosystem and reinforces the nation's position as a global innovation powerhouse, say startup players. On Saturday, Finance Minister Nirmala Sitharaman announced a new Fund of Funds Scheme (FFS) with a corpus of Rs 10,000 crore to promote the growth of budding entrepreneurs in the country. "This budget is a big win for India's startup ecosystem. The Rs 10,000 crore Fund of Funds, along with extended tax benefits and regulatory reforms, will provide the much-needed capital and ease of doing business for emerging ventures," said Shashvat Nakrani, Founder, BharatPe. Startup Policy Forum (SPF) President and CEO Shweta Rajpal Kohli said the creation of a new Fund of Funds will provide crucial financial support to emerging startups. "The introduction of a new scheme to support 5 lakh first-time women entrepreneurs is a bold and inclusive step forward. Furthermore, the establishment of 50,000 Atal Tinkering Labs an

Budget 2025: Govt to rationalise procedures for speedy company mergers

The government will rationalise the requirements and procedures for speedy approval for merger of companies and the scope for fast track mergers will be widened as part of efforts to further improve the ease of doing business. The proposal is part of the Union Budget for 2025-26 presented in the Parliament on Saturday. "Requirements and procedures for speedy approval of company mergers will be rationalised. The scope for fast-track mergers will also be widened and the process made simpler," Finance Minister Nirmala Sitharaman said in her Budget speech. Among other steps, the minister said the government will now bring up the Jan Vishwas Bill 2.0 to decriminalise more than 100 provisions in various laws. In the Jan Vishwas Act 2023, more than 180 legal provisions were decriminalised. Also, the revamped Central KYC Registry will be rolled out in 2025. "We will also implement a streamlined system for periodic updating," Sitharaman said. The Institute of Company Secretaries of India

Sensex gave positive returns in 7 of 14 Budget presentation days since 2014

The BSE Sensex has given positive returns to investors on seven out of the 14 Union Budget presentation days of the Narendra Modi government since it came to power in 2014. The NDA government, led by Prime Minister Narendra Modi, has so far presented 14 budgets, including two interim budgets ahead of the general elections in 2019 and 2024. Benchmark indices Sensex and Nifty ended flat in a special trading session on Saturday. In a day market with heavy volatility, the 30-share BSE benchmark Sensex eked out a marginal gain of 5.39 points or 0.01 per cent to settle at 77,505.96. During the day, it hit a high of 77,899.05 and a low of 77,006.47, gyrating 892.58 points. Prior to this, markets were open on February 1, 2020, and February 28, 2015, which were both on Saturdays when the Budgets were presented. "The Budget was a bold and decisive one to spur economic growth by reviving consumption. With no income tax on income up to Rs 12 lakh, the Budget has ensured that the middle class

Budget push for nuclear energy to cut traditional power dependence: Govt

The focus on nuclear energy in the Budget will strengthen the country's power infrastructure and reduce dependence on conventional sources, Union Minister Manohar Lal said on Saturday. In her budget speech, Union Finance Minister Nirmala Sitharaman made a slew of announcements on segments like taxes, infrastructure and nuclear energy, among others. The vision to develop at least 100 GW of nuclear power by 2047 underscores India's ambitious yet essential transition towards clean energy, the power minister said. The focus on nuclear energy will strengthen the country's power infrastructure and reduce dependence on conventional sources, he said. Welcoming the launch of the Nuclear Energy Mission, the minister said the Rs 20,000 crore allocation for research and development in Small Modular Reactors (SMRs) marks a significant step forward. Operationalising at least five indigenously developed SMRs by 2033 will strengthen the country's energy security and solidify its leadership in ...

Budget 2025-26: Cotton Mission gets a boost to improve productivity

The budget allocation for the textile sector saw a steep increase from the FY24-25 revised figure of Rs 3,342 crore to Rs 5,252 crore

Budget 2025: Rs 1.88 trn for rural sector, MGNREGS allocation unchanged

The Rural Development Ministry has been allocated Rs 1.88 lakh crore in the Union Budget for 2025-26, around 5.75 per cent more than the allocation in the previous budget. According to the budget proposals made by Finance Minister Nirmala Sitharaman on Saturday, the Rural Development Ministry has been earmarked Rs 1,77,566.19 crore against Rs 1,77,566.19 crore allocated in the Budget for 2024-25. However, the 2024-25 Revised Estimate, a midyear review of the expenditure done by the ministry, stood at Rs 1,73,912.11 crore, Rs 3,654.08 crore fewer than the initial allocation. The allocation for flagship rural employment scheme Mahatma Gandhi National Rural Development Scheme (MGNREGS) was Rs 86,000 crore, the same as the last year. In 2023-24, the allocation for MGNREGS was Rs 60,000 crore, but additional funds were provided and the actual expenditure stood at Rs 89,153.71 crore, the Budget document showed. No additional allocations for MGNREGS were made in 2024-25. The scheme provi

Budget launchpad for health sector to be global leader: Apollo Hospitals

The Union Budget is just a financial document for the year ahead, but a launchpad for India's healthcare system to emerge as a global leader, Prathap C Reddy, Founder and Chairman, Apollo Hospitals said on Saturday. The addition of 75,000 seats over the next five years, coupled with the launch of Centers of Excellence in AI, will foster innovation in health-tech and expand R&D investments, Reddy said in a statement. The announcement to promote medical tourism through private sector partnerships will enhance the capacity to attract global patients and position India as the go-to destination for affordable, world-class medical care under the Heal in India' mission, he added. With support for capacity building and streamlined visa processes, this initiative will ensure India not only heals its citizens but also helps heal the world." The setting up of 200 Daycare Cancer Centers in district hospitals and the inclusion of critical medicines for rare diseases, cancer, and severe chronic

Budget: Govt ups allocation for Ayush ministry by 14% to Rs 3,992.90 crore

The budget allocation for the Ministry of Ayush has been increased to Rs 3,992.90 crore for 2025-26 from Rs 3,497.64 crore (revised estimates) in 2024-25, a 14.15 per cent hike. The National Medicinal Plants Board has been allocated Rs 18.59 crore while the Pharmacopoeia Commission for Indian Medicine and Homoeopathy (PCIM&H) has been allocated Rs 21.96 crore. The National Medicinal Plants Board undertakes promotional and contractual farming schemes to encourage in-situ conservation and ex-situ cultivation of medicinal plants for providing raw materials of assured quality for manufacturing of ASU&H (Ayurveda, Siddha, Unani and Homeopathy) medicines. The Pharmacopoeia Commission for Indian Medicine and Homoeopathy is a subordinate office under the Ministry of Ayush. It is an appellate authority for testing of all Ayush drugs in India. It also sets the standards for all Ayush drugs that are published in the form of pharmacopoeias. The autonomous bodies have been allocated Rs ...

Budget proposal of Grameen Credit Score to help credit discipline: Experts

It will weed out fraudulent borrowers and self-help group members, they say

Budget 2025: Govt proposes to extend startup incorporation till 2030

The government on Saturday proposed to extend the period of incorporation of eligible startups by five years for providing tax incentives, a move aimed at encouraging budding entrepreneurs. Eligible startups established before April 1, 2030, would get a tax incentive for three consecutive years out of ten years from incorporation. "We continue to support the Indian startup ecosystem. I propose to extend the period of incorporation by five years to allow the benefit available to startups which are incorporated before April 1, 2030," Finance Minister Nirmala Sitharaman in her Budget speech said. The move would help in providing greater liquidity for startups. Eligible start-ups can avail complete deduction of profit and gains for three consecutive years out of 10 years, beginning from the year of incorporation. The benefits under Section 80-IAC of the income tax law will help such enterprises improve their liquidity, cash availability, and work capital, boosting growth and productiv

Union Budget 2025: Agri industry lauds focus on pulses, seeds, tech

Industry leaders on Saturday welcomed the Union Budget 2025-26's agricultural initiatives, particularly applauding the government's emphasis on technology integration and seed development, while noting that certain sector-specific demands remain unaddressed. The Budget's agricultural roadmap, centered around making the sector a primary growth engine, has drawn positive responses for its focus on reducing import dependencies and boosting domestic production. "The government is focusing on agriculture as a growth engine of the economy and targeting to reduce dependence on import of edible oil," said Sanjeev Asthana, President of Solvent Extractors' Association of India (SEA) in a statement. He expressed hope for an additional annual allocation of at least Rs 5,000 crore for the Oilseed Development Programme. However, some industry leaders pointed out gaps in the Budget provisions. Federation of Seed Industry of India (FSII) Chairman Ajai Rana, while welcoming schemes promoting ...

Budget 2025: Agri focus, tax cut to build positive momentum for auto sector

The budget's focus on agriculture and tax relief for individuals is likely to spur demand triggering a positive effect on the automobile industry, industry players on Saturday. Auto industry body SIAM noted that the government is focused on long-term sustained economic growth. "The specific focus on rural prosperity and agriculture, coupled with reforms in the personal income tax, is likely to have a positive effect on the auto Industry, and will help in creating demand," SIAM President Shailesh Chandra said in a statement. As the industry transitions into cleaner powertrains, it will specifically benefit from the National Manufacturing Mission, which supports clean tech manufacturing for batteries, motors and controllers, he added. "Furthermore, the exemption of critical minerals (e.g. Cobalt, Lead, Zinc etc.), scraps of Lithium-ion battery, and 35 additional capital goods from customs duty will help create a strong EV ecosystem in the country," Chandra said. The industry is also

Budget: Rs 5 cr earmarked for aiding economically weak prisoner to get bail

The Centre has earmarked Rs 5 crore in the 2025-26 budget for providing financial assistance to the prisoners who languish in jail because they could not afford their bail money. Under the 'Model Prisons and Correctional Services Act' 2023, State Legal Services Authorities have established Legal Service Clinics in jails to provide free legal assistance to persons in need. The Legal Service Clinics are managed by empanelled Legal Services Advocates and trained Para-Legal Volunteers. The budget documents, presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday, show that Rs 5 crore funds have been reserved to help prisoners unable to afford the penalty or the bail amount. The Centre had kept Rs 20 crore in the previous budget but only Rs 1 crore could be put to use as states and union territories did not come with cases for clearance under the scheme, an official said. The Home Ministry had last year said that each state should open a dedicated account for seamle

Budget 2025: Rs 3,481 cr for security expenses, making infra in LWE areas

The Union Budget 2025-26 has allocated Rs 3,481.27 crore for security-related expenditure (SRE) and the Special Infrastructure Scheme for Left Wing Extremist (LWE) areas as the BJP-led Centre has set a target of March 2026 to end the Maoists menace in the country. An amount of Rs 3,481.27 crore has been allocated in the budget presented by Finance Minister Nirmala Sitharaman on Saturday. An amount of Rs 2,463.62 crore was allocated under this head in the budget for 2024-25. The allocation is considered significant in the wake of Union Home Minister Amit Shah's repeated statements that the Narendra Modi government has resolved to end Naxalism in the country by March 2026. Forty Naxalites have been killed in separate gunfights in the worst Naxal-hit state of Chhattisgarh this year till January-end. Last year, 219 Naxalites were neutralised by security forces in separate encounters in Chhattisgarh. Six Maoists were killed in Odisha in 2024, while eight were arrested and 24 had ...

Budget 2025 announcements 'bold', will boost consumption: Assocham

Finance Minister Nirmala Sitharaman has presented a bold budget which will boost consumption, particularly by the middle class. 'The finance minister has placed her confidence in the middle class for leading the consumption-led growth. At the same time, there is a clear focus on unleashing the potential of the MSMEs, Startups and exports," Assocham President Sanjay Nayar said on the the Union Budget for 2025-26. Union Finance Minister Nirmala Sitharaman tabled the Union Budget in the Lok Sabha on Saturday. It is a 'bold' budget to boost consumption particularly from the vibrant middle-class families, Nayar said. He said pick up in consumption demand would, in turn, encourage investment as well in the medium term while several employment-oriented sectors such as tourism, textile, handicrafts, footwear and toys have been given an immediate impetus for take-off. Ajay Singh, the Past President of Assocham said the Budget is "middle class-friendly" and will boost public spending settin

Track and Trace Mechanism to aid in curbing illicit trade: Tobacco industry

The introduction of a "track and trace mechanism" for certain goods announced in the Union Budget 2025-26 will assist in controlling the menace of illegal trade, especially in cigarettes, and help the industry grow, tobacco industry said on Saturday while welcoming the proposed changes. Finance Minister Nirmala Sitharaman in her Union Budget on Saturday proposed to amend the Central Goods and Services Tax Act, 2017, enabling a mechanism for 'Track and Trace', aimed at curbing tax evasion in high-risk commodities. "The proposed amendments in The Central Goods and Services Tax Act, 2017, enabling a mechanism for Track and Trace, will help in controlling the illicit cigarette trade in the country, thereby helping the enforcement agencies to take corrective action against the perpetrators of this crime," Tobacco Institute of India (TII) said in a statement. This will also help the 'legal industry' to gain from the illicit market, said TII which represents farmers, manufacturers, exporte

Budget 2025: TN CM Stalin says, 'state got ignored out of biasness'

The Union Budget for 2025-2026 was 'biased' in completely ignoring Tamil Nadu and betrayed the expectation of the people, Chief Minister M K Stalin said on Saturday. Despite putting forth several demands to it, the Centre did not seem to have the heart to confirm atleast one demand and announce it in the Budget, he said. "The demands are numerous ... highways and railway projects, Coimbatore and Madurai Metro Rail projects. Why nothing has been given? What is stopping you?" Stalin asked in a post on the social media platform X. Terming the Union Budget as 'prejudiced' in so far as Tamil Nadu was concerned, the Chief Minister said even the name Tamil Nadu was not mentioned. Tamil Nadu occupied a prominent place in all the reports of the Union Government including the Economic Survey, Ranking of Higher Education Institutions, and the NITI Aayog report, and they all praised the state's activities. "But why is Tamil Nadu completely ignored this year in the Budget?" Stalin, who is ...

Union Budget 2025: Govt allocates Rs 141.83 crore for President's office

The Union Budget on Saturday allocated Rs 141.83 crore for the staff, household and allowances of the president, a nominal increase of Rs 8.22 crore from Rs 133.61 crore earmarked in the revised estimates for ongoing fiscal. Finance Minister Nirmala Sitharaman had earmarked Rs 144.18 crore in the Budget for 2024-25 which was revised to Rs 133.61 crore. The fund allocation is for salaries and allowances of the president, the expenditure on the household establishment of the president, including staff salaries, discretionary grants of the president and provision for capital section. The document shows that of the total allocation, Rs 60 lakh has been allocated for the salary and allowances of the president, which remained unchanged from the last budget. The amount allocated under the head 'president's secretariat' provides for the establishment and allied expenses with respect to it, which includes grants-in-aid for Dr Rajendra Prasad Kendriya Vidyalaya on the campus of the president