Union Budget 2025: A Bold Step Towards India's Future

Finance Minister Nirmala Sitharaman presented the Union Budget for the eighth consecutive year. The budget was met with immense positivity across the nation, as it included a series of forward-looking initiatives aimed at propelling economic growth and fostering national confidence. Experts and business leaders, including philanthropist Abhay Bhutada, are optimistic that this budget marks the beginning of a new chapter in India’s economic evolution.

Abhay Bhutada's Positive Outlook on the Budget

Abhay Bhutada, Vice Chairman of Rising Sun Holdings and philanthropist, expressed a hopeful outlook after analyzing the Union Budget 2025. He remarked, “This budget leaves no one behind. It’s not just about the tax revisions but an effort to uplift all sectors strategically. This is a major step towards a more inclusive and prosperous India. I firmly believe India’s future is shining bright.”

Bhutada, who is deeply involved in charitable initiatives through the Abhay Bhutada Foundation, highlighted the budget’s alignment with his values of fostering inclusive growth and development. His words echo the sentiment of many in the business and social sectors, signaling widespread support for the government's proposals. Abhay Bhutada's salary was also among India's highest in FY24.

Also Read: Union Budget 2025: A Positive Step for India's Growth

Key Highlights from the Union Budget 2025

The Union Budget 2025 includes several significant provisions aimed at supporting economic recovery, job creation, and sustainable growth. Let’s look at some of the most notable highlights:

1. Tax Relief – Easing the Burden on the Middle Class

A key feature of this year’s budget is the exemption of income tax for individuals earning up to Rs12 lakh annually. Under the revised tax structure, those in the middle-income bracket will be relieved from paying income taxes, which will directly enhance their disposable income. This move is expected to encourage higher consumer spending, driving economic demand across various sectors such as retail, automotive, and housing.

2. Increased Capital Expenditure – Strengthening Infrastructure

The government has allocated a total of Rs11.21 lakh crore for capital expenditure (Capex) in FY2025-26, a slight increase from last year’s Rs11.11 lakh crore. This increase will fuel the development of critical infrastructure projects, such as roads, railways, and urban development initiatives. The allocation is expected to stimulate job creation and industrial growth, benefiting sectors like construction, manufacturing, and transportation.

3. Bihar Makhana Initiative – Empowering Local Agriculture

A groundbreaking initiative within the budget is the establishment of a Makhana Board in Bihar. This plan aims to boost the production, processing, and marketing of Makhana, a popular regional crop. The board’s efforts will enhance farmers' income and contribute to the state’s economic development. This move is a clear reflection of the government’s commitment to strengthening regional agricultural industries and supporting rural economies.

4. Job Creation in the Footwear and Leather Industry

The government aims to create 22 lakh jobs by enhancing the competitiveness of the footwear and leather industry. By improving quality and boosting productivity, the initiative will make the sector more globally competitive, leading to greater export opportunities and job creation for millions of workers in the industry. This measure is crucial in addressing India’s unemployment challenges while promoting sustainable industrial growth.

5. Expansion of the UDAN Scheme – Connecting India’s Regions

The Union Budget 2025 also includes the expansion of the UDAN Scheme, which aims to connect 120 new regional destinations across India over the next decade. The government projects that 4 crore additional passengers will benefit from enhanced regional air connectivity. This expansion is expected to stimulate tourism, business, and economic activity in remote regions, driving inclusive growth throughout the country.

6. Dhan-Dhaanya Krishi Yojana – Revolutionizing Agriculture

A significant allocation has been made for the Prime Minister Dhan-Dhaanya Krishi Yojana, a program aimed at developing 100 agricultural districts. This initiative will benefit over 1.7 crore farmers by promoting modern farming techniques, irrigation systems, and overall productivity. The scheme will enable farmers to achieve higher yields, ensuring food security while boosting the rural economy.

7. Boosting R&D – Fostering Innovation and Technological Growth

The Union Budget includes a Rs 20,000 crore allocation for supporting research, development, and innovation in the private sector. This investment aims to propel advancements in technology, healthcare, and renewable energy sectors. The government has also promised 10,000 fellowships for technological research at prestigious institutions like IITs and IISc, creating an ecosystem for cutting-edge innovation and research.

8. Incentives for Electronics and Electric Vehicles

To promote the growth of electronics and electric vehicles (EVs), the government has introduced exemptions for various goods. This includes open-cell LED/LCD TV panels, textile looms, and lithium-ion battery-related capital goods used in EVs and mobile phones. These incentives will help India become a leader in both the electronics and green energy sectors, reducing the nation's carbon footprint and strengthening its position in the global market.

A Brighter Future Ahead

The Union Budget 2025 is a comprehensive roadmap for India’s future, balancing immediate economic relief with long-term structural reforms. The government’s focus on tax relief, infrastructure development, job creation, and agricultural growth speaks to its vision of a more inclusive and resilient India.

Abhay Bhutada’s optimism is shared by many who believe that the initiatives presented in the budget will create a solid foundation for India’s future. With continued support for key sectors such as agriculture, manufacturing, technology, and infrastructure, the Union Budget 2025 sets the stage for India’s emergence as a global economic powerhouse in the coming decades.

Also Read: India’s 2025 Budget: A Vision of Progress and Prosperity

In conclusion, the budget marks an important milestone in India's journey towards inclusive growth and prosperity, as it aligns economic policies with the needs of the people. It’s not just a fiscal plan, but a blueprint for a brighter and more sustainable future.