Budget's Viksit Bharat push in jobs, energy & R&D focus

There were heightened expectations from Union Budget 2025-26 regarding building on the momentum of last year's nine budget priorities—and it has delivered.

- Sumant Sinha

With India marching towards realizing the Viksit Bharat vision, this budget takes decisive steps for high-impact growth.

The Economic Survey's estimate of 6.4% real GDP growth and retail inflation softening from 5.4% in FY24 to 4.9% in FY25 reinforces India's position as the world's fastest-growing major economy. The budget for the coming fiscal has capitalized on prudent fiscal management and strengthens the four key pillars of India's economic resilience—jobs, energy security, manufacturing, and innovation.

India needs to create 7.85 million non-agricultural jobs annually until 2030—and this budget steps up. It has enhanced workforce capabilities through the launch of five National Centres of Excellence for Skilling and aims to align training with "Make for India, Make for the World" manufacturing needs.

Additionally, an expansion of capacity in the IITs will accommodate 6,500 more students, ensuring a steady pipeline of technical talent. It also recognizes the role of micro and small enterprises (MSMEs) in generating employment.