Union Budget 2025 Live Updates: Udaan Scheme Announced and Steps taken for Industry Development

The Union Finance Minister Nirmala Sitharaman begins the Union Budget 2025 session on 1st Feb 2025 i.e. today.

Nuclear Energy Mission for Viksit Bhart

• Essential Development of at least 100 gW of Nuclear energy by 2047 for the Country.
• Amendments to be made in Atomic Energy Act and Civil Liability for the Nuclear Damage Act in order to achieve this goal and for active partnerships with the private sectors.

Industry Development

• Greenfield airports will be developed in Bihar to satisfy the state’s future demands.
• Industry of Ship Building to be revamped.
• Steps to be taken for the health and capacity of electricity companies.

Udaan Scheme Announced to Boot Tourism Sector

A modified Udaan scheme will be launched to increase regional connectivity to 120 new destinations. The Scheme will support Helipads and smaller airports in hilly, aspirational and northeast regional districts.

Investment in Infrastructure

• 10,000 seats to be added in Medical Colleges from next year onwards.
• 5 National Centres of Excellence for Skilling announced by FM. The skilling centres will be established to help the youth in enhancing the skills for opportunities in career globally.
• Establishment of Centre of Excellence for AI in Education with an investment of Rs.500 Crore.
• 200 Cancer centers to be established in the year 2025-26.
• National Institute of Food Technology, Entrepreneurship and Management to be set up in Bihar.

Startups Funding

• Govt to set up New ‘Fund of Funds for Startups’ to power entrepreneurship. It includes:
• New contribution of Rs.10,000 crore, in addition to the existing government commitment of Rs.10,000 crore.
• New scheme of Rs.2 crore loan will be introduce for 5 lakh first-time Wofen, Scheduled Castes and Scheduled Tribes entrepreneurs.

FM on MSME Sector

• MSMEs is the second engine of the Union Budget 2025. More than 1 crore MSMEs registered in India, generating 37% our manufacturing and responsible for 45% of exports.
• To help the MSME Sector, investment limit for classification of all MSMEs will increase to 2.5 times.
• Turnover limits for classification of all MSMEs will be doubled.
• Introduction of Customized Credit Cards for Micro Enterprises.
• Credit guarantee cover for MSMEs to be majorly enhanced.
• Scheme will be implement to make India a global manufacturing hub for toys.

Enhancement of Agriculture Sector

• FM started with saying, Agriculture is the first engine of the Union Budget 2025.
• Govt undertake PM Dhandhanya Krisihi Yojna to enhance Agriculture that will cover 100 districts with low productivity. This programme will cover 1.7 crore farmers. Aim is to grow ample opportunities with global practices.
• Makhana board will be established in the state of Bihar to increase production of Makahana.
• 6-year mission for Aatmanirbharta in Pulses with a special focus on ‘tur, udad and masoor daals’.

Budget Focus on 10 Board Areas

Finance Minister Nirmala Sitharaman stated that the proposed development measures in Budget 2025 are divided into ten major sectors, with a concentration on Garib, Youth, Annadata, and Nari.

FM begins Budget Session, Says India Fastest-growing Economy among all Major Economies

Finance Minister Nirmala Sitharaman said that the economy of India is the fastest-growing among the major world economies. “Our ten-year development track record, as well as structural improvements, have attracted global attention. During this time, confidence in India’s capabilities and promise has become even stronger. We consider the next five years as a unique chance to achieve ‘Sabka Vikas’ by fostering balanced growth in all regions,” Nirmala Sitharaman said as she began presenting the Union Budget 2025 in Lok Sabha.

Budget Session Started

Finance Minister Nirmala Sitharaman started the Union Budget 2025 Session at 11:00 AM.

Union Budget 2025-26 | Nirmala Sitharaman Speech

FM to begin her 8th Straight Budget Speech Soon

Finance Minister Nirmala Sitharaman is expected to begin her record eighth budget presentation at 11 a.m. today, amid strong hopes for tax relief. Nirmala Sitharaman will deliver the first full budget of Prime Minister Narendra Modi’s third term, making her the only finance minister to present the Union Budget eight times in a row.

The Union Budget 2025 has created high anticipation because it will be the second budget under Prime Minister Narendra Modi’s third term.

President Murmu fed ‘dahi-cheeni’ to FM Nirmala Sitharaman ahead of the Budget 2025

After meeting with the President, FM was seen discussing key aspects of the Budget proposals with the President. Following that they both proceeded towards cabinet.

President Murmu fed ‘dahi-cheeni’ to FM Nirmala Sitharaman ahead of the Budget 2025. In Indian culture, fedding ‘Dahi-Chini’ before starting something new is believed to be auspicious.

FM arrived at Rashtrapati Bhavan

Union Finance Minister Nirmala Sitharaman leaves North Block, the finance ministry’s headquarters, on Saturday ahead of presenting the Union Budget 2025.

Union Finance Minister Nirmala Sitharaman and Minister of State for Finance Pankaj Chaudhary arrived at Rashtrapati Bhavan to meet President Droupadi Murmu before presenting the Union Budget 2025.

Finance Minister came with “Bahi-Khata”, usually wrapped in red cloth. It carries all the important budget document that will be presented in Budget session.

At 11 a.m., Sitharaman will present her record eighth straight budget to the Lok Sabha, outlining the government’s financial agenda, taxation policies, income and expenditure framework, and important economic reforms.