Union Budget 2025 Takeaway | What FM Nirmala Sitharaman said for startups

Nirmala Sitharaman presented her historic eighth Budget on February 1, 2025.

Finance Minister Nirmala Sitharaman presented her record eighth Budget this year. After the Budget was presented in the Lok Sabha, the FM also presented the document in the Rajya Sabha.

"Fund of funds for startups to be set up with Rs 10,000 crore contribution from govt", FM Sitharaman said, adding the govt would launch a Rs 2-crore term loan to 5 lakh first-time women, SC and ST entrepreneurs.

The govt would undertake facilitation measures to enhance productivity of labour-intensive sectors, the FM assured, adding the govt would establish national institute of food technology, entreprenuership and management in Bihar.

"Credit guarantee cover to be doubled to Rs 20 crore, guarantee fee moderated to 1 pc," said FM in Budget speech.

"Manufacturing mission to be set up for SME and large industries", she said.

"To promote footwear and leather sectors, a focused scheme will be launched," she added.

"Investment as third engine encompasses investing in people, innovation and economy," the FM observed.

The Union Budget 2025 is the second Budget presented under the Modi 3.0 government, the first having come after the Lok Sabha elections.

Like the previous Budgets, this has kept in mind the government's goal of Viksit Bharat by 2047.

Yesterday, FM Sitharaman tabled the Economic Survey, which projects India's GDP to grow in the range of 6.3-6.8 per cent.In the last Budget, presented in June after NDA won the Lok Sabha polls, FM proposed new income tax slabs -- up to Rs 3 lakh nil, Rs 3-7L 5%, Rs 7-10L 10%, Rs 10-12L 15%, Rs 12-15L 20%, above Rs 15L 30%.

Fiscal deficit was estimated at 4.9 per cent of GDP and Sitharaman had stated the government aimed to reach 4.5 per cent fiscal deficit in 2025-26.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.