Page 10 - Union Budget

Govt to set up National Manufacturing Mission to promote Make in India

The government on Saturday announced to set up a National Manufacturing Mission to further promote Make in India initiative. The Mission's mandate will include five focus areas ease and cost of doing business; future ready workforce for in-demand jobs; a vibrant and dynamic MSME sector; availability of technology; and quality products. The scheme will cover small, medium and large industries, Finance Minister Nirmala Sitharaman said in her Budget speech. The National Manufacturing Mission, she said, will provide policy support, governance and monitoring framework for central ministries and states. "Our government will set up a National Manufacturing Mission covering small, medium and large industries for furthering Make in India," she said. She said that support will be provided to develop domestic manufacturing capacities for our economy's integration with global supply chains. Sectors will be identified based on objective criteria. "Facilitation groups with participation of se

Union Budget: Sports and youth affairs allocation raised by Rs 351 cr

The government's flagship Khelo India programme to scout and nurture athletes at the grassroots level was the biggest beneficiary as the allocation for sports and youth affairs was hiked substantially by Rs 351.98 crore in the Union Budget presented by Finance Minister Nirmala Sitharaman here on Saturday. The ambitious scheme has been allocated Rs 1,000 crore for the financial year 2025-26. This is Rs 200 crore more than the grant of Rs 800 crore in 2024-25. Overall, the Ministry for Youth Affairs and Sports was designated Rs 3,794.30 crore. The increase is substantial considering there is no major sporting event like the Olympics, Commonwealth or Asian Games lined up in the next one year. The assigned amount for assistance to National Sports Federations has also been hiked marginally from Rs 340 crore to Rs 400 crore. India is currently pushing through with an ambitious bid to host the 2036 Olympic Games for which a letter of intent has been submitted to the International Olympic

Rahul Gandhi criticises Union Budget as 'band-aid for bullet wounds'

Congress leader Rahul Gandhi on Saturday slammed the Union Budget as a "band-aid for bullet wounds," saying that the Centre was "bankrupt of ideas". He said solving the economic crisis demanded a paradigm shift. "A band-aid for bullet wounds! Amid global uncertainty, solving our economic crisis demanded a paradigm shift," Gandhi said in a post on X The Congress earlier criticised the Union Budget as bereft of cure to "illnesses" of stagnant real wages, lack of buoyancy in mass consumption, sluggish rates of private investment, and a complicated GST system that the economy is suffering from. It also accused the Narendra Modi government of appearing to offer "bonanza" to Bihar, governed by NDA ally Nitish Kumar, and "cruelly" ignoring Andhra Pradesh, another pillar of the same alliance.

Budget 2025: Civil aviation gets Rs 2,400 cr, UDAN funds cut to Rs 540 cr

The budgetary allocation for the civil aviation ministry has been cut by nearly 10 per cent to Rs 2,400.31 crore for the next financial year, with the regional air connectivity scheme UDAN set to get a lower amount of Rs 540 crore. The allocation in the Union Budget 2025-26, presented by the Finance Minister Nirmala Sitharaman in Parliament on Saturday, is less compared to Rs 2,658.68 crore in the revised 2024-25 Budget. Out of the total allocation for the next fiscal starting from April 1, 2025, UDAN will get Rs 540 crore, which is 32 per cent lower compared to Rs 800 crore in the year-ago period. Interestingly, Sitharaman has announced that UDAN (Ude Desh ka Aam Naagrik) scheme will be modified to connect 120 new destinations. As per the budget papers, the allocation for the DGCA and BCAS have increased marginally to Rs 330 crore and Rs 95 crore, respectively, for 2025-26. For the Customs Cost Recovery (CCR) charges to Airport Authority of India (AAI) and AAI Cargo Logistics and

'Tax cuts to boost consumption', say top executives across sectors

The government's plan is estimated to help around 25-30 million personal tax payers save about 100,000 rupees annually, according to Kamal Bali, managing director of Volvo Group India

Power sector PSUs' investments to rise nearly 21% to Rs 86,138 cr in FY26

The government has proposed to increase total investment by the nine state-owned power sector firms by nearly 21 per cent to Rs 86,138.48 crore in 2025-26 compared to the previous fiscal year. According to the Budget document, the Revised Estimate (RE) of investment by these nine firms is pegged at Rs 71,278.33 crore for 2024-25 while the budgeted estimate (BE) of Rs 67,286.01 crore. State-owned power giant NTPC recorded the maximum increase in investment to Rs 26,000 crore in the next fiscal year from RE as well BE of Rs 22,700 crore in 2024-25. Similarly, the investment by Power Grid Corp will be raised to Rs 25,000 crore in the next fiscal year from the RE of Rs 20,000 crore and BE of Rs 12,250 crore in 2024-25. The investment by SJVN Ltd will be Rs 12,000 crore in FY26 as against the RE of Rs 7,000 crore this fiscal year. The amount was fixed at Rs 12,000 crore in BE for FY25. The investment by the NHPC will also go up to Rs 13,000 crore in the next fiscal year from RE of Rs .

'Tax proposals to boost market flows, consumption,' NSE MD reacts to budget

NSE's chief executive and managing director Ashish Chauhan on Saturday welcomed tax proposals in the Union budget, saying it will help increase flows into the markets. The proposal of nil tax on incomes up to Rs 12.75 lakh per annum for salaried professionals will also help consumption, the chief of the country's largest stock bourse said. "The much-expected tax relief is given to the taxpayer up to Rs 12.75 lakh per annum for a salaried person does not have to pay even a rupee as tax. I think that is a very welcome move, which will help consumption and also investment increase into markets," Chauhan told PTI. He added that as consumption increases, the profitability of companies will also increase. The NSE chief also welcomed the fiscal management proposals presented by Finance Minister Nirmala Sitharaman in the budget. He said the budget aims to give a fillip to growth by committing higher investments with a 10 per cent growth in the capital expenditure. The proposals for refor

'Nothing for Bengal' in Union Budget , says TMC MP Abhishek Banerjee

Trinamool Congress leader Abhishek Banerjee on Saturday claimed that the Union Budget 2025-26 has "nothing" for West Bengal, alleging that the state continues to remain "deprived" under the BJP-led NDA rule at the Centre. Banerjee, the TMC national general secretary, who was talking to reporters in Delhi after the budget presentation in Parliament, said several announcements were made for Bihar as the assembly elections there are due later this year. Bihar remained in focus in the presentation of the Union Budget for the 2025-26 fiscal with Finance Minister Nirmala Sitharaman making several announcements for the state, including setting up of a makhana board, financial assistance for western Kosi canal and support for enhancing the capacity of IIT Patna. "There has been nothing for Bengal in the Union Budget. As in the past during the BJP's reign, there has not been enough allocation for the state in this budget. Our (TMC) MPs have been vocal and have sought a rise in the allocation

Union Budget 2025-26 is all about capex drive to consumption thrive

Budget 2025 Highlights: The biggest beneficiary sector for the budget would be consumptions sectors like Staples, QSRs, White goods and Discretionary like Hotels and tourism

'Punjab once again ignored,' says CM Mann reacting to Union Budget

Punjab Chief Minister Bhagwant Mann expressed disappointment over the Union Budget on Saturday, claiming that the border state has been "ignored" once again and not given anything. Describing it as an "election budget", the Aam Aadmi Party (AAP) leader said it only made announcements for Bihar. Union Finance Minister Nirmala Sitharaman presented her eighth budget in Parliament on Saturday. Reacting to the budget, Mann alleged that Punjab has once again been "ignored" in the budget presented by the Bharatiya Janata Party-led Centre. "The Union government has not given anything to the farmers and youngsters of Punjab," he said in a post on X. The chief minister criticised the Centre for not announcing a minimum support price (MSP) for crops or any package for the state's industry. "The Centre has neither given an MSP to farmers on their crops nor has the state been given any package for any industry. Punjab has not been given anything that can improve its economy and future," he ..

PM Modi hails Budget: Tax relief will provide big benefit to middle class

Budget 2025: Following the Budget presentation, Prime Minister Narendra Modi congratulated Finance Minister Nirmala Sitharaman and her team for presenting a 'people's Budget'

Budget 2025 allocates ₹98,311 crore for healthcare sector: Key takeaways

Union Budget 2025: In the coming year, 10,000 additional medical seats will be created, with a target of adding 75,000 seats over the next five years

From 2 hrs 40 mins to 1 hr 14 mins: Sitharaman's Budget speech evolution

From marathon speeches to concise presentations, Nirmala Sitharaman's Budget journey spans from a record 2 hours 40 minutes in 2020 to a crisp 1 hour 14 minutes in 2025

Analysts pick sectors and stocks to invest in after Budget 2025; check list

Budget 2025: Budget announcements related to income tax reforms, consumption and agriculture production boosts, and so on were highlighted in the presentation

Forward looking Budget 2025 that plays on the China+1 strategy: Analysts

Budget 2025 Analysis: No income-tax up to Rs 12-lakh income, subject to conditions, according to experts, can fuel consumption in the months ahead

Budget 2025: Energy stocks rally up to 9% on Nuclear Energy Mission plan

Budget 2025 highlights: Development of at least 100 gigawatt of nuclear energy by 2047 is essential for our energy transition effort, FM Sitharaman said on Saturday during Union Budget 2025 speech

Union Budget 2025: What's cheaper and what's costlier for consumers?

Budget 2025: This is the second full Budget under the Modi 3.0 government. Check the full list of items that will become cheaper or costlier after Budget 2025

36 life-saving medicines fully exempted from customs duty: FM Sitharaman

Budget 2025: This decision is part of a broader push to make essential healthcare more affordable, especially for cancer patients struggling with the high costs of treatment

Union Budget 2025: 10,000 new medical seats, boost for IITs, AI push

Union Budget 2025 announces 10,000 new medical seats, expansion of IITs, Rs 500 crore for AI in education, and a strong focus on upskilling and inclusive growth

Will Goddess Lakshmi smile on the middle-class in Union Budget 2025?

As Nirmala Sitharaman gears up for Budget 2025, Indians seek relief from inflation, stagnant wages, job scarcity, and high taxes, hoping for reforms to ease daily financial stress