Focus on Accelerating Industrial Activity

The budget outlines four engines of growth – agriculture, MSMEs (micro, small and medium enterprises), investment and exports – focused in accelerating industrial activity and employment generation.

Investment in agriculture and rural economies through targeted schemes including PM Dhan-Dhaanya Krishi Yojana aims to enhance productivity, irrigation and financial inclusion, benefiting 17 million farmers. The focus on crop diversification, high-yielding seeds and warehousing suggests a move towards modern farming.

The focus on MSMEs includes increased investment and turnover limits, easier access to credit and support for scaling businesses. This shift underscores the evolving role of these businesses in manufacturing, global supply chains and overall GDP growth.

The simplification of tax structures, reduction of direct tax rates and exemptions for middle-class taxpayers reflect a positive approach, aimed at boosting consumption and household savings.

Additionally, for businesses, the continued focus on ease of compliance through digitised tax administration and reduced bureaucratic hurdles further enhances India’s attractiveness for business expansion.

In all, the budget presents a long-term vision that balances economic expansion with resilience and sustainability.

It not only addresses short-term economic needs but also creates a framework for structural transformation, ensuring that India remains  globally competitive while fostering inclusive development.

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