Quote On Union Budget by Ms. Riya Singh - Research Analyst, Commodities and Currency , Emkay Global Financial Services.
Below the Quote On Union Budget by Ms. Riya Singh - Research Analyst, Commodities and Currency , Emkay Global Financial Services.
The Indian Budget 2025, presented by Finance Minister Nirmala Sitharaman, lays out a strategic vision
aimed at fostering economic resilience, boosting private investment, and enhancing consumption-driven
growth. The budget emphasizes four key pillars: agriculture, MSMEs, investments, and exports. With a
significant focus on infrastructure development, social welfare, tax reforms, and digital transformation, the
government aims to balance fiscal prudence with ambitious growth targets.
Fiscal Roadmap
Total Outlay & Fiscal Targets
*Total Expenditure: INR 47.1 trillion
* Fiscal Deficit Target: 4.4% of GDP for FY26, down from 4.8% in FY25
* Gross Market Borrowing: INR 14.82 trillion
* Net Borrowing: INR 11.54 trillion
* Tax Revenue Projections: INR 36.9 trillion
* Non-Tax Revenue: INR 5.83 trillion
The government aims to achieve fiscal consolidation through enhanced tax collections and strategic asset
monetization while maintaining a strong capital expenditure push.
Capital Expenditure Focus
* INR 15 trillion allocated for infrastructure projects, including transportation, smart cities, and
digital connectivity.
* INR 1.5 trillion interest-free loan support to states for infrastructure development.
* Urban Development Fund: INR 1 trillion to support smart cities and urban expansion.
* INR 250 billion Maritime Development Fund to strengthen port and shipping infrastructure.
The Union Budget 2025-26 introduced a series of custom duty adjustments aimed at promoting
domestic manufacturing, boosting exports, and reducing dependency on imports. These changes
impact a range of industries, including electronics, telecom, pharmaceuticals, shipbuilding, renewable
energy, and agriculture.
The modifications in Basic Customs Duty (BCD) are categorized into reductions (items that got cheaper)
and increases (items that got costlier) to either encourage domestic production or protect local
industries from excessive foreign competition.
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