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Discussion on general Budget in Lok Sabha
Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, on 11 February replied in Lok Sabha to the General Discussion on the Union Budget, describing it as a landmark financial roadmap for India’s long-term transformation. Following is the synopsis of the reply
This is the first budget of the second quarter of the 21st century. She added, that’s why this Budget covers a wide range of topics from 2026 to 2050. We’re also launching a new five-year cycle for the Finance Commission, the 16th Finance Commission, which begins on April 1, 2026. Therefore, these projections are largely based on the Finance Commission’s recommendations. I’m focusing on the next five years, as per the recommendations. Therefore, the long-term investments you make today will have long-term impact. We’re launching the India Semiconductor Mission 2.0. We’re investing in cutting-edge areas like carbon capture, as carbon capture is a crucial way to achieve our 2070 net-zero target. We’re also continuing our work on building infrastructure. Now, it’s not just roads or national highways; it’s also focusing on waterways to reduce logistics costs in this country. We’re ready to work with states on mega textile parks, especially industrial textiles, the textiles that are going to be new-age. We’re also focusing on animal husbandry and fisheries to ensure that every district has a veterinary surgeon, a veterinary hospital, and testing labs.
To achieve the goal of a developed India, the government’s strategy is to boost capital investment in the economy. To that end, we have effectively allocated 17.15 lakh crore. This will act as a force multiplier and accelerate our progress towards a developed India. To care for the elderly, we are developing a workforce of 150,000 trained caregivers this year. They will be able to practice wellness yoga and operate assistive devices. This will create direct employment opportunities for 1,50,000 people this year. A loan-linked capital subsidy scheme will be made available for veterinary professionals, creating opportunities and employment for over 20,000 people to work as veterinary professionals in villages. We will train 10,000 tourist guides this year and deploy them in 20 iconic tourism centers.
The SHE-Mart scheme has also been announced. This means encouraging, supporting, and marketing women emerging from self-help groups. Under the Divyangjan Kaushal Yojana, we will provide customized training for persons with disabilities with sensitivity and respect. People with disabilities will also find jobs in the IT, technology, AVGC, and hospitality sectors. We are focusing on these sectors, training youth for jobs in these fields and educating them about AI. AI-powered technology was announced in the budget. This will be a multilingual AI tool. It will identify each farmer and store fully digitized information about their crops, soil quality, and fertilizer needs in Agristack. This will increase yields and boost farmers’ incomes. Under the Coconut Promotion Scheme, old and non-fruiting trees will be replaced. This will immediately benefit 1 crore farmers. This year, the Makhana Board Scheme allocation has been increased by Rs. 90 crore. The Bihar government has provided land for this. Work on this will definitely move forward. The Cotton Technology Mission, the Mission for Pulses, and the Mission for Vegetables and Fruits have been merged. The centrally sponsored scheme is currently called the Krishi Unnati Yojana, and funding for all three will be provided under this scheme. We are promoting data centers so that data remains in India and local youth can get employment.
The budget has allocated a total of 2.27 lakh crore for food subsidies. We are still providing free food to 80 crore people. 4064 crore has been allocated for setting up industries. More than 4000 crore has been allocated for the Pradhan Mantri Micro Food Processing Enterprises Formalization Scheme. 350 crore has been announced for high- value agriculture. 2,500 crore has been allocated for nuclear power. 600 crore has been allocated for the National Green Hydrogen Mission.