India's Budget Focuses on Growth Engines: Agriculture, MSMEs, and Exports

India continues to be the world’s fastest-growing economy, and the government is committed to ensuring substantial growth across all sectors, moving towards the vision of “Viksit Bharat,” said Union Finance Minister Nirmala Sitharaman. Delivering her eighth consecutive budget, Sitharaman highlighted that the NDA government’s second full Union Budget in its third term prioritizes agricultural development, MSME empowerment, and fostering innovation, alongside promoting exports.

“MSMEs, agriculture, and exports are pivotal to our growth trajectory, and we are determined to fortify these sectors,” she stated, emphasizing that the Budget aims to secure inclusive development while accelerating growth. Sitharaman further mentioned that the budget’s focus is on boosting private sector investments, uplifting household sentiment, and empowering India’s expanding middle class.

The Budget session of Parliament began on January 31 and will proceed in two phases. The first phase will conclude on February 13, and the second will begin on March 10, running until April 4.

Sitharaman, who surpassed the record set by former Prime Minister and Finance Minister Morarji Desai last year for the number of Union Budgets presented, also underscored the significance of financial inclusion. The Economic Survey for 2024-25 highlighted key initiatives aimed at improving access to credit for rural households and small businesses, enhancing infrastructure, housing, sanitation, and rural livelihoods. It also noted that private consumption is crucial for stabilizing India’s economy amid global uncertainties.

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