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Budget Powers Viksit Bharat with Jobs, Energy, And Innovation Focus

There were heightened expectations from Union Budget 2025-26 relating to building on the momentum of last year's nine budget plan top priorities - and it has provided. With India marching towards understanding the Viksit Bharat vision, this spending plan takes decisive steps for high-impact growth. The Economic Survey's quote of 6.4% real GDP growth and retail inflation softening from 5.4% in FY24 to 4.9% in FY25 reinforces India's position as the world's fastest-growing significant economy. The budget plan for the coming financial has capitalised on prudent fiscal management and reinforces the four crucial pillars of India's economic resilience - jobs, energy security, manufacturing, and innovation.

India needs to produce 7.85 million non-agricultural jobs every year until 2030 - and this budget steps up. It has improved labor force abilities through the launch of five National Centres of Excellence for Skilling and intends to align training with "Make for India, Make for the World" making requirements. Additionally, an expansion of capability in the IITs will accommodate 6,500 more trainees, ensuring a stable pipeline of technical talent. It also acknowledges the role of micro and small business (MSMEs) in creating employment. The enhancement of credit assurances for micro and employment little business from 5 crore to 10 crore, opens an extra 1.5 lakh crore in loans over five years. This, combined with personalized credit cards for micro business with a 5 lakh limit, will improve capital gain access to for little services. While these steps are commendable, the scaling of industry-academia partnership along with fast-tracking professional training will be crucial to ensuring continual job creation.

India remains highly based on Chinese imports for solar modules, electrical car (EV) batteries, and key electronic parts, exposing the sector to geopolitical risks and trade barriers. This budget takes this difficulty head-on. It designates 81,174 crore to the energy sector, a significant increase from the 63,403 crore in the present fiscal, signalling a significant push towards reinforcing supply chains and reducing import reliance. The exemptions for 35 extra capital items needed for EV battery production contributes to this. The reduction of import task on solar cells from 25% to 20% and solar modules from 40% to 20% relieves costs for designers while India scales up domestic production capability. The allotment to the ministry of new and renewable resource (MNRE) has increased 53% to 26,549 crore, with the PM Surya Ghar Muft Bijli Yojana seeing an 80% jump to 20,000 crore. These steps supply the decisive push, but to really attain our environment objectives, we need to also speed up financial investments in battery recycling, critical mineral extraction, and employment strategic supply chain integration.

With capital expenditure approximated at 4.3% of GDP, the greatest it has been for the past 10 years, this lays the structure for employment India's production revival. Initiatives such as the National Manufacturing Mission will provide making it possible for policy assistance for little, medium, and large markets and will further solidify the Make-in-India vision by reinforcing domestic value chains. Infrastructure remains a traffic jam for employment makers. The spending plan addresses this with enormous financial investments in logistics to minimize supply chain expenses, which presently stand at 13-14% of GDP, substantially higher than that of the majority of the developed nations (~ 8%). A foundation of the Mission is tidy tech production. There are guaranteeing procedures throughout the value chain. The budget presents customs duty exemptions on lithium-ion battery scrap, cobalt, and 12 other important minerals, securing the supply of necessary products and enhancing India's position in international clean-tech worth chains.

Despite India's prospering tech ecosystem, research study and development (R&D) financial investments remain below 1% of GDP, compared to 2.4% in China and 3.5% in the US. Future tasks will need Industry 4.0 capabilities, and India must prepare now. This budget plan takes on the gap. A good start is the government designating 20,000 crore to a private-sector-driven Research, Development, and employment Innovation (RDI) initiative. The budget plan recognises the transformative potential of artificial intelligence (AI) by introducing the PM Research Fellowship, which will provide 10,000 fellowships for technological research study in IITs and IISc with improved financial backing. This, together with a Centre of Excellence for AI and 50,000 Atal Tinkering Labs in government schools, are positive actions toward a knowledge-driven economy.