On Saturday (1st January), the Modi govt gave a massive boost to the business ecosystem in India by announcing new schemes in the Budget for the Financial Year 2025-2026.
At the very onset, Union Finance Minister Nirmala Sitharaman announced that ‘India Post’ would be evolved into a major public logistics organisation. It will work as a catalyst for rural development.
The Budget 2025 also made provisions for an increase in ‘credit guarantee cover’ for micro-enterprises from ₹5 crores to ₹10 crores. At the same time, Fund of Funds (FoF) for the startup ecosystem has received commitments of over ₹9 lakh crore.
Finance Minister Nirmala Sitharaman announced schemes to boost the footwear and leather industry and manufacture sustainable toys under the flagship ‘Make-in-India’ scheme.
She informed that a detailed framework will be built for the manufacture of solar PV cells, grid-scale batteries and electrolysers.
The Union Finance Minister also announced an outlay of ₹1.5 lakh crores for infrastructure projects to be completed via private-public partnership (PPP).
She further stated that a Maritime Development Fund will be established with a corpus of ₹25000 crores for shipbuilding financial assistance.
