Sat Feb 01 12:32:37 UTC 2025: ## India’s 2025 Budget Unveils Ambitious Plan for ‘Developed Bharat’ by 2047

**New Delhi, February 1, 2025** – Finance Minister Nirmala Sitharaman today presented a landmark Union Budget focused on transforming India into a developed nation by 2047. The budget, Sitharaman’s eighth, includes significant reforms aimed at boosting disposable income, fiscal consolidation, and job creation across various sectors.

A key highlight is a major overhaul of personal income tax, exempting incomes up to ₹12 lakh (approximately $145,000 USD) from taxation. This ₹1 lakh crore ($12 billion USD) tax break is intended to stimulate consumption and drive GDP growth.

The budget also emphasizes fiscal prudence, targeting a fiscal deficit of 4.4% of GDP by FY26. This commitment to fiscal responsibility is expected to attract foreign direct investment and bolster macroeconomic stability.

Significant investment is planned for labour-intensive sectors such as textiles, leather, and tourism, aiming to address unemployment and promote skill development. A ₹10 lakh crore ($120 billion USD) Asset Monetization Plan will revitalize infrastructure projects through public-private partnerships.

A strong focus on sustainable energy is evident in the ambitious plan to develop 100 GW of nuclear energy by 2047, supported by a ₹20,000 crore ($2.4 billion USD) allocation for small modular reactor research. Amendments to the Atomic Energy Act are also planned to encourage private sector participation.

Further boosting innovation, the budget doubles the Fund of Fund Scheme to ₹20,000 crore ($2.4 billion USD), providing crucial capital for startups and promoting investment in deep-tech areas. The National Geospatial Mission aims to modernize infrastructure and improve resource allocation through better data integration.

Regulatory reforms, including the Jan Vishwas Bill 2.0, aim to create a more business-friendly environment by decriminalizing over 100 provisions. The budget also significantly increases investment and turnover thresholds for MSMEs, providing further support for this crucial sector.

The budget’s initiatives signal India’s commitment to sustainable, inclusive growth, positioning the country as a stable and attractive investment destination amidst global economic uncertainty. The success of this ambitious plan hinges on the effective implementation of these wide-ranging reforms.

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