By: Mr. Umesh Revankar, Executive Vice Chairman, Shriram Finance
“The Union Budget drives sustainable growth across sectors, emphasizing inclusive development for Garib, Yuva, Annadata, and Nari.
Agriculture, the first growth engine, receives a major boost with the Prime Minister Dhan-Dhaanya Krishi Yojana. Targeted initiatives like the Developing Agri Districts Programme and KCC Mission for Cotton Productivity will empower 1.7 crore farmers in 100 districts by improving yields, fostering FPOs, and ensuring climate resilience. This will enhance productivity, rural incomes, and self-sufficiency in food production while building resilience in farming communities.The rural economy is further strengthened by enhanced support for agriculture and development, creating widespread prosperity. Meanwhile, the MSME sector, crucial for employment and manufacturing, receives a significant push to drive economic expansion and establish India on a new growth trajectory.
Education and skill development are prioritized, with initiatives like the Bharatiya Bhasha Pustak Scheme and five National Centres of Excellence preparing youth for a global manufacturing landscape. The removal of TCS on education loans abroad eases access to international learning opportunities.
The big bonus for middle class in the form of tax slabs changes are going to help in improving consumption which would be a major booster for private capex and can change the nature of investments and participation in boosting economic activity.
In essence, the budget lays a strong foundation for economic resilience by fostering inclusive growth, supporting rural livelihoods, and equipping India for a competitive global future.”