Union Budget 2025-26: A Transformative Step for India's Growth
The Union Budget for 2025-26 has been described as extraordinary, bringing significant benefits to various sections of society, including the poor, middle class, farmers, small traders, and young entrepreneurs. One of the key highlights is the historic tax exemption up to Rs 12 lakh, which will ease financial burdens for middle-class employees and small business owners.
This reform-driven budget is designed to propel India toward becoming the third-largest economy by 2027, following the United States and China. Under Prime Minister Narendra Modi’s leadership, Finance Minister Nirmala Sitharaman has showcased the government’s commitment to economic growth and social welfare.
Middle-class employees earning up to Rs 12 lakh annually will now be exempt from paying income tax, resulting in average savings of Rs 80,000 per year. Additionally, prices for essential goods like televisions, mobile phones, leather products, and electric vehicles are expected to drop, offering relief to the poor and middle class. Reduced customs duty on medicines will also make healthcare more affordable for patients with chronic illnesses.
For farmers, the budget introduces the Kisan Credit Card scheme, benefiting 7.7 crore farmers across the country. In Telangana alone, 50 lakh farmers will have access to bank loans of up to Rs 5 lakh. To further support agriculture, the “Dhan Dhanya Krishi Yojana” aims to increase production and income, while new commissions for pulses and cotton will ensure better pricing and profitability for farmers.
Micro, Small, and Medium Enterprises (MSMEs) also receive a boost, with loan limits doubled from Rs 5 crore to Rs 10 crore. Startups are set to thrive with access to loans up to Rs 20 crore, encouraging entrepreneurship among the youth. Increased credit support for street vendors and small traders is expected to stimulate business growth and uplift local economies.
The budget also introduces critical reforms in the electricity sector to ensure affordable power for all. These measures aim to improve energy access and reduce costs for both businesses and households.
Overall, the Union Budget 2025-26 is being hailed as a transformative step for India’s progress. With its bold reforms and focus on economic stability, the budget is expected to benefit 90% of the population and leave a lasting impact on the nation’s development.
