National News: Know About Union Budget 2025!
Union Budget 2025: After the Modi government came to power for the third time, preparations are underway to present the full budget in July. This time the government's focus may be on increasing job opportunities. The government is going to expand the scope of the Production Linked Incentive Scheme (PLI) to increase employment. Furniture, toys, footwear, and textile industries will now be included in this scheme. Along with this, small and medium enterprises (MSMEs) will also be promoted. Emphasis will also be laid on increasing the income of women and strengthening the country's infrastructure. All these issues are part of the government's 100-day agenda and will help in achieving the goals by the year 2030.
Along with tax exemption, you can also get relief on home loan interest
Apart from this, the Finance Ministry is considering measures to provide relief to the middle class. This may not only include tax exemption but may also include concession in interest rates on home loans and other measures. This is an initial discussion on this after the elections, but the government will take a decision keeping in mind the election results. According to the news published in Times of India (TOI), the ministers took charge last week and Prime Minister Modi was on a tour. In such a situation, detailed talks have not started regarding this yet.
Groundwok already done by officials
Pre-budget consultations are expected to begin this week. But a lot of groundwork has already been done by the officials. This work has been done by the officials who were entrusted by Modi with the task of preparing a 100-day plan. Around June 25, Finance Minister Nirmala Sitharaman will meet economists, agricultural sector exporters, market participants, bankers, and labor unions, among others.
The proposal to give the benefit of the PLI scheme has been pending for a long time.
Apart from this, the Finance Minister will take the opinion of the state finance ministers on the budget on Saturday. After that, she will attend the GST Council meeting with them in the afternoon. The proposal to give the benefit of the PLI scheme to more industries has been pending for a long time. Especially in the chemicals sector where European companies are investing less. But the government is worried about how big an investment should be encouraged because big global companies have to be created in the country.
There is a plan to bring an MSME package to strengthen small businesses. But its complete details have not been revealed yet. After Corona, an attempt was made to help small businessmen. The purpose of this package is to generate maximum employment because this is the sector that provides the most employment after agriculture.
The biggest concern during the elections has been employment, especially the number of jobs and their quality. Many people believe that the BJP was weak on this front, due to which the party could not get a majority. Many suggestions have come up to increase the income of women and bring more of them into jobs, such as through some special tax rules. Officials say that these proposals will be discussed in detail because women are an important target group for the NDA.