New Delhi, Feb 1: Prime Minister Narendra Modi described the Union Budget 2025-26 as an important milestone in the journey of India’s development.

 

PM Modi remarked that this budget reflects the aspirations of 140 crore Indians and fulfills the dreams of every citizen and highlighted that several sectors were opened up for the youth, and the common citizen will drive the mission of Viksit Bharat (Developed India).

 

The Prime Minister emphasised that this budget is a force multiplier which would increase the savings, investment, consumption, and growth.

 

He congratulated Union Finance Minister Nirmala Sitharaman and her team for this ‘People’s Budget’. 

 

The Prime Minister remarked that typically, the focus of the budget is on how to fill the Government's treasury. However, he said, this budget focused on how to fill the pockets of the citizens, increase their savings, and make them partners in the country's development. He emphasised that this budget lays the foundation for these goals.

 

“Significant steps have been taken towards reforms in this budget," Modi said, and highlighted the historic decision to promote the private sector in nuclear energy.

 

He added that civil nuclear energy will ensure a significant contribution to the country's development in the future. He said that all employment sectors were given priority in the budget.

 

Pointing out two major reforms that will bring significant changes in the coming time, Modi said that  granting infrastructure status to shipbuilding will boost the construction of large ships in India, accelerating the Atmanirbhar Bharat Abhiyaan and including hotels at 50 tourist destinations under the infrastructure category will significantly boost tourism, providing new energy to the hospitality sector, which is the largest employment sector.

 

The Prime Minister stated that the country was progressing with the mantra of "Vikas bhi, Virasat bhi" (Development as well as Heritage). He mentioned that significant steps were taken in this budget to preserve one crore manuscripts through the launch of the Gyan Bharatam Mission. Additionally, a National Digital Repository inspired by Indian knowledge traditions will be created.

 

Remarking that the announcements made in the budget for farmers will lay the foundation for a new revolution in the agricultural sector and the entire rural economy, Modi highlighted that under the PM Dhan-Dhanya Krishi Yojana, irrigation and infrastructure development will take place in 100 districts. He emphasized that increasing the limit of the Kisan Credit Card from Rs.3 lakh to Rs.5 lakh will provide greater assistance to farmers.

 

Highlighting that the budget has exempted income up to Rs.12 lakh from tax, the Prime Minister said tax reductions were made for all income groups, which will greatly benefit the middle class and those who have been newly employed. 

 

“The budget has a 360-degree focus on manufacturing to strengthen entrepreneurs, MSMEs, and small businesses, creating new jobs”, emphasised the Prime Minister. 

 

He highlighted that sectors like clean tech, leather, footwear, and the toy industry had received special support under the National Manufacturing Mission. He stressed that the goal was clear to ensure Indian products to shine in the global market.

 

Pointing that the budget places special emphasis on creating a vibrant and competitive investment environment in the states, Modi highlighted the announcement to double the credit guarantee for MSMEs and startups.

 

He mentioned the introduction of a scheme to provide loans up to Rs. 2 crore without guarantee for SC, ST, and women first- time entrepreneurs and emphasized the significant announcement for gig workers, with their registration on the e-Shram portal for the first time, enabling them to access healthcare and other social security schemes.

 

The Prime Minister stated that this reflects the Government's commitment to the dignity of labor. He highlighted that regulatory and financial reforms, such as Jan Vishwas 2.0, will strengthen the commitment to minimum government and trust-based governance.

 

The Prime Minister remarked that this budget not only addresses the current needs of the country but also helps in preparing for the future. He highlighted the initiatives for startups, including the Deep Tech Fund, Geospatial Mission, and Nuclear Energy Mission.