Budget 2025: Nirmala Sitharaman's 6 domain areas – ‘India aims to push spending power of middle class’
Finance Minister Nirmala Sitharaman outlined in the Union Budget 2025 development measures targeting the poor, youth, farmers, and women.
Finance minister Nirmala Sitharaman on Saturday said in the Union Budget 2025, the government proposed development measures span 10 broad areas, focussing on the poor, youth, farmers and women.
Sitharaman said the government is focused on six domains areas- taxation, power sector, urban development, mining, regulatory reforms and agriculture.
Presenting her eighth consecutive budget, Nirmala Sitharaman said India will focus on boosting middle-class spending power, encouraging inclusive development and boosting private investment to strengthen growth.
The world's fifth-largest economy is expected to post its slowest growth in four years amid frail urban demand and weak private investment.
Nirmala Sitharaman said the government's development track record of the past 10 years and structural reforms have drawn global attention.
“This government is about accelerating growth, uplift the middle class. We embark on a journey to explore the potential of the country. Our aspiration for Viksit Bharat inspires us to march forward resolutely. Our economy is among the major growing economies,” she said in Parliament.
Quoting a Telugu poet, the FM said the government is focused on health care, education and agriculture.
This budget aims to work on transformative reforms, she added.
India's chief economic adviser, in a report released on Friday, forecast India's economy would remain sluggish in the fiscal year beginning April 1, advocating long-delayed reforms in areas such as land and labour to boost medium-term growth.
While near-term growth is in line with the 10-year average, India needs a growth rate of 8% to meet its longer-term economic goals and create enough jobs for its large, youthful population.
Economists have suggested the government ease the burden on individuals through tax cuts on income and energy products and to build on the $24 billion programme of job creation schemes announced in the first post-election budget in July.