PM Modi further assured the industry of the government’s dedication to ensuring policy continuity, particularly for manufacturing and exports
Our Bureau
New Delhi
Prime Minister Narendra Modi has said that MSMEs play a transformative role in the economic growth of India. Government is committed to nurturing and strengthening this sector, during his virtual address at the Post Budget Webinar 2025 on Tuesday.
To further streamline regulations, the Prime Minister announced the formation of a committee to review regulations in the non-financial sector. “A decision has also been taken to constitute a committee to review regulations in the non-financial sector. We aim to make them modern, flexible, and people-friendly. The industry will play a crucial role in this exercise.”
He stated, “Today, the country has been witnessing an unprecedented consistency in government policies for over a decade. Over the past 10 years, India has demonstrated its commitment to continuous reforms, financial discipline, transparency, and inclusive growth.’
He added, “The assurance of consistency and reforms has brought a new sense of confidence within our industry. I assure every stakeholder associated with manufacturing and exports that this continuity will remain steadfast in the years to come.”
He further assured the industry of the government’s dedication to ensuring policy continuity, particularly for manufacturing and exports, “The assurance of consistency and reforms has brought a new sense of confidence within our industry. I assure every stakeholder associated with manufacturing and exports that this continuity will remain steadfast in the years to come.”
Highlighting India’s growing global economic stature, PM Modi remarked, “Today, every country in the world wants to strengthen its economic partnership with India. Our manufacturing sector must step forward to maximize the benefits of this partnership.”
PM Modi reaffirmed India’s position as a key driver of global growth. “Today, the world sees India as a growth centre,” he said, urging industries to seize emerging opportunities and drive economic expansion.
Also on Tuesday, Finance Minister Nirmala Sitharaman said that her government is committed to ensuring the timely implementation of all Budget announcements made for the year 2025-26. Speaking at a post-Budget webinar hosted by the Department of Financial Services, the finance minister recounted how some of the announcements made in the July 2024 Budget have been implemented in a short time.
She said that the Mudra loan limit under the Tarun category has been increased from Rs 10 lakh to Rs 20 lakh, as was announced in the July 2024 Budget. This new limit took effect on October 24, 2024, within three months of the announcement.
Further, she said 21 new SIDBI branches have already been opened in MSME clusters during 2024-25 in line with the budget announcements made in July.
She added that the Ministry of Corporate Affairs has implemented the pilot project for the PM Internship Scheme announced in the Budget of 2024-25, creating over 1.25 lakh internship opportunities in top companies with over six lakh applications received so far.
“This is consistent with our track record of delivering on promises made in previous budgets,” she added.
Since 2017, the Budget has been presented on February 1, instead of March 1.
Sitharaman said presenting the Budget a month earlier provides the government with more time for the departments and ministries to plan and implement the Budget announcements in the same financial year.
She said her government is on the verge of bringing up the Jan Vishwas Bill 2.0 to decriminalize more than 100 provisions in various laws. “It will further simplify processes for businesses,” she said.
For the year 2025-26, the total effective capital expenditure is proposed at Rs 15.48 lakh crores, which is 4.3 per cent of the GDP, with Rs 11.21 lakh crores located as core capital expenditure by the centre, which is 3.1 per cent of the GDP.
Capital expenditure, or capex, is used to set up long-term physical or fixed assets.
The minimal difference between the effective capital expenditure and fiscal deficit indicates that the government is using almost all borrowed resources for financing effective capital expenditure.
“This unprecedented investment in infrastructure development is already creating jobs, strengthening industries and laying the foundation for private sector participation in India’s growth story,” she supplemented.
“Various important inputs have been received during the course of the discussion (during the webinar today), and they will be looked into. The inputs will help align our strategies, address possible implementation challenges, and ensure that budgetary announcements efficiently translate into tangible actions,” she added.
