Union Budget 2025: A Progressive Approach for a Stronger India

On February 1, 2025, India looked forward to the Union Budget with high expectations. Finance Minister Nirmala Sitharaman presented her eighth budget, and it has been widely recognized as a progressive and forward-thinking financial plan. It introduced key measures aimed at stimulating economic growth and providing much-needed relief to individuals and businesses alike.

A Budget for the People

Abhay Bhutada, Vice Chairman of Rising Sun Holdings and founder of the Abhay Bhutada Foundation, has praised the budget for its balanced and inclusive approach. He stated, “This budget takes a comprehensive approach to economic development. It is not just about tax adjustments but about fostering growth in every sector. I firmly believe that India’s future is promising.”

Bhutada has been a strong advocate for financial and educational growth. Through the Abhay Bhutada Foundation, he has contributed significantly to education and social initiatives that empower students from economically weaker backgrounds. His endorsement of the budget highlights his confidence in its ability to support long-term national development.

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

Key Highlights of Union Budget 2025

The budget introduced several important reforms and allocations:

• Tax Benefits for the Middle Class Individuals earning up to Rs12 lakh per year are now exempt from income tax. This policy aims to ease the financial burden on middle-class families and boost spending power.

• Increased Capital Expenditure The government has raised capital expenditure to Rs11.21 lakh crore for FY2025-26, an increase from Rs11.11 lakh crore in the previous fiscal year. This is expected to strengthen infrastructure and drive economic activity.

• Support for Bihar’s Makhana Industry The government has announced the formation of a Makhana Board in Bihar to enhance production, processing, and marketing, ultimately benefiting local farmers.

• Employment Growth in Footwear and Leather Industry The government plans to generate 22 lakh new jobs by improving productivity, quality, and efficiency in the footwear and leather sector.

• Enhancing Regional Connectivity through UDAN The revamped UDAN Scheme will introduce 120 new destinations, expanding air travel access and facilitating 4 crore passengers over the next decade.

• Prime Minister Dhan-Dhaanya Krishi Yojana A new agricultural initiative will focus on developing 100 districts, benefiting nearly 1.7 crore farmers by improving productivity and resource allocation.

• Encouraging Research and Innovation Rs20,000 crore has been allocated to drive private-sector-led research, development, and innovation in emerging industries.

• PM Research Fellowship Expansion The budget introduces 10,000 research fellowships for scholars at IITs and IISc, promoting advancements in science and technology.

• Support for Electronics and Electric Vehicles The government has announced tax exemptions for open-cell LED/LCD TV panels, textile looms, and lithium-ion battery production. This move will benefit the electronics and EV industries.

• Shipbuilding and Railway Sector Benefits A 10-year exemption on shipbuilding and shipbreaking goods has been approved, along with extended tax benefits for railway component repairs.

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Abhay Bhutada’s Take on the Budget’s Impact

Abhay Bhutada believes the budget is a step toward long-term economic strength. His foundation has supported educational initiatives that align with the government’s vision of inclusive development. The tax reforms, infrastructure investments, and research funding outlined in the budget create new opportunities for businesses and individuals.

The revised tax structure is expected to boost disposable incomes, while increased capital investment will lead to job creation and infrastructure expansion. The focus on research and agricultural development ensures that diverse sectors of the economy experience sustainable growth.

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

A Step Toward Economic Growth

The Union Budget 2025 is more than a financial document; it lays a foundation for a stronger, more prosperous India. With policies that benefit businesses, individuals, and industries alike, it paves the way for sustained economic progress. Leaders like Abhay Bhutada appreciate the government’s commitment to fostering development across all sectors.

With these reforms in place, the future of the country looks promising. The impact of these initiatives will unfold over time, bringing lasting benefits to the economy and society.