CA Narendra Ramdasee
CA Narendra Ramdasee
February 1, 2025 at 11:09 AM
*Key Highlights of Budget 2025!* *Fiscal Deficit Target:* The fiscal deficit is projected to be *4.4% of GDP, a reduction from the previous year’s 4.8%*, indicating a commitment to fiscal consolidation. *Agriculture and Rural Development*: 1. *Crop Production Missions*: The government has launched a six-year mission to achieve self-reliance in pulses and a five-year mission to boost cotton production, aiming to enhance agricultural output and reduce import dependence📌 2. *Kisan Credit Card (KCC) Limit Increase:* The KCC limit has been raised from ₹3 lakh to ₹5 lakh to facilitate greater credit flow to farmers, supporting their financial needs🦚 *Manufacturing and Industry:* 1. *National Manufacturing Mission:* A new mission has been established to provide policy support and further the ‘Make in India’ initiative, aiming to bolster domestic manufacturing capabilities🚜 2. *Skilling Centers:* Five national centers of excellence will be set up to enhance skilled manpower for the manufacturing sector, addressing the industry’s demand for qualified professio👩‍🏫 *Infrastructure and Urban Development:* 3. *Interest-Free Loans to States:* The budget allocates ₹1.5 trillion in 50-year interest-free loans to states for infrastructure development, encouraging regional growth and modernization 💸 4. *Urban Challenge Fund:* A fund worth ₹1 trillion has been created to support innovative urban development projects, promoting sustainable and inclusive city planning💰 *Financial Sector Reforms:* 1. *FDI in Insurance:* The Foreign Direct Investment limit in the insurance sector has been increased from 74% to 100%, aiming to deepen market penetration and attract more international investment🆙 2. *Revamped KYC Process:* A revamped Know Your Customer (KYC) registry is set to be rolled out in 2025 to streamline and simplify the compliance process for financial institutions and their clients👏

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