Unlocking India's path to a prosperous future with inclusive growth

Amid accentuating global risks, new US tariffs in the White House and deepening uncertainties over tariffs, the Union Budget 2025 takes a balanced and equitable approach to spur the Indian economy.

- YEZDI NAGPOREWALLA

Reduction in fiscal deficit from 4.8 per cent in FY25 to 4.4 per cent in FY26 reflects a commitment to fiscal consolidation and improved debt management aimed at enhancing macroeconomic stability and investor confidence while not relenting on capital expenditure. By enlisting Micro, Small and Medium Enterprises (MSMEs), investments, and exports as the three powerful engines of growth alongside agriculture, the Finance Minister has emphasised on accelerating balanced growth in India's journey of development.

To unlock India's growth potential and make it truly Atmanirbhar, the Budget has offered a major credit boost to MSMEs as well as start-ups. These measures will prove extremely encouraging for new businesses and especially supportive for first-time entrepreneurs boosting employment and growth in productivity.

The Budget has also made several provisions to make further investments in people and skilling through additional seats in medical colleges, creation of additional infrastructure in IITs, setting up for 50,000 Atal Tinkering Labs in government schools.