Budget 2025 Update: Union Minister Nirmala Sitharaman presented the budget for the financial years 2026 and 2027, outlining a roadmap for a developed India by 2047. She explained how India can become a developed nation by 2027. She made major announcements in the health, employment, and education sectors.
On Sunday, Finance Minister Nirmala Sitharaman made a major announcement, stating that medicines for diabetes and cancer will soon become cheaper across the country. After the reduction in prices, middle-class and poor people will also be able to afford treatment. Members of the ruling party were seen thumping their desks during her budget speech.
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This scheme will be launched.
In her budget speech in the Lok Sabha, she announced the launch of the Mahatma Gandhi Gram Swaraj Yojana. People across the country will benefit from this scheme. Sheemphasisedd becoming a self-reliant India. She also focused on providing employment to the youth and strengthening infrastructure.
Major announcement for this sector
Presenting the budget on Sunday, Finance Minister Nirmala Sitharaman made a major announcement for the bio-pharma sector. The Finance Minister said, “To develop India as a global bio-pharma manufacturing hub, I propose the ‘Bio Pharma Shakti’ scheme. A provision of ₹10,000 crore will be made for this over the next 5 years. This will create a strong ecosystem for the domestic production of biologics and biosimilars.”
Key highlights of Nirmala Sitharaman’s budget
A girls’ hostel will be built in every district.
Proposal for the formation of a high-level committee on banking for a developed India.
Proposal for the restructuring of Power Finance Corporation and Rural Electrification Corporation.
Comprehensive review of the Foreign Exchange Management Regulations.
Proposal to introduce total return swaps on corporate bonds.
Emphasis on promoting higher-value municipal bonds in large cities.
High-speed rail corridors to be built in seven cities
Finance Minister Nirmala Sitharaman said that 7 high-speed rail corridors will be built as development connectors between cities. Professional institutions will be facilitated to prepare a cadre of corporate professionals. They will launch ISM 2.0 for the expansion of the semiconductor industry. An infrastructure risk guarantee fund will be established for partial loan guarantees.
Several proposals are in place to promote environmentally friendly cargo transportation. 20 new national waterways will be launched in the next 5 years. A proposal has been made to increase government capital expenditure to ₹12.2 lakh crore.