Union Budget 2025: Digitisation, Market Boosts, and Infrastructure Plans Amid Economic Challenges
The Union Budget, presented today, has outlined ambitious plans for digitisation, infrastructure development, and market boosts, while acknowledging economic challenges. Consumer inflation has breached the RBI's 4 per cent threshold, and real GDP growth has dipped to 5 per cent, the lowest in 11 years.
The Centre aims to digitise 1,00,000 gram panchayats by the year-end, providing Fibre-to-the-Home connections. This move seeks to bridge the digital divide and empower rural communities.
In a bid to boost market attractiveness, the government plans to eliminate the Dividend Distribution Tax and revert to the classical dividend tax system. This shift is expected to make the Indian stock market today more competitive against its Asian peers.
The Budget has placed a strong emphasis on boosting agriculture, rural, and social infrastructure. It proposes easing land-related issues by encouraging states to adopt model laws on land leasing, agricultural produce marketing, and contract farming. Additionally, viability gap funding is proposed for constructing Ayushman Bharat-empanelled hospitals in aspirational districts, ensuring accessible healthcare facilities and stimulating employment for unskilled workers.
The government has reiterated its intent to divest part of its stake in LIC and its remaining shareholding in IDBI Bank. This move aligns with the government's goal to reduce its stake in public sector enterprises.
The Budget recognises the need for a clear glide path to converge the fiscal deficit to the targeted figure in the medium term, with the current target standing at 3.8 per cent of the GDP.
The Union Budget has addressed key economic challenges, with plans to digitise rural areas, boost stock market today competitiveness, and enhance infrastructure. However, it also acknowledges the need to manage the fiscal deficit effectively to ensure sustainable economic growth.
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