Every year the ruling government at New Delhi always sets up and announces the budget for the following year almost routinely. The most favored month of announcement is the month of February. This year is not any different- there are special aspects of the economy that the FM has declared for nearly all the native people of the entire country. Our FM Nirmala Sitharaman just announced a brand new budget on the 1st of February and the general public appears to be really happy with it. The common citizens of India were expecting the following from the FM in general in the economy-
More time to file their income tax returns,
Some really important TDS changes,
Corporate Mitras or friends to ensure a regulatory compliance of our MSMEs
High level committees on banking to create a Vikshit Bharat by the year 2047
The FM also made the following announcements-
The BJP government has elevated 25 crore really poor people out of abject poverty. Fishermen can now rejoice as their duty is totally abolished for them. The government has promised to increase Indian farmers’ incomes. They have also promised to build 500 reservoirs for Indian farmers with special focus on cashews and cocoa. The government wants to see more female students in the STEM fields. As for the field of medicine, 10000 crore rupees have been kept reserved for their brand new project, ‘Biopharma Shakti’. It has also proposed medical hubs for Ayush Centres all over the country.
The FM announced 7 high speed rail corridors between various cities. There will also be 20 new national waterways built over the next 5 years. The government has proposed to build more infrastructure in tier 2 and tier 3 cities. Foreigners can buy Indian stocks directly now. The Capex is fixed at a whopping Rs 12.2 lakh crores for the year 2027. The BJP government is also setting up Self Help Entrepreneur marts to encourage more females to start their businesses.
The government has set up committees to review the impact of technology like AI on the sector of services. It has set aside Rs 40,000 crores for the Indian semi-conductor industry. Another sector is the tourism sector which the BJP wants to revamp presently. It will train 1.5 lakh medical caregivers, create hubs for medical tourism across the country. It will be setting up a brand new National Institute of Hospitality in the country.
With all these major infrastructural changes all over the country, the FM and the BJP have tried their level best to turn the country into a G5 or G3 level country.
