The MSME sector is a vital pillar of India’s economy, driving GDP growth, employment, and exports. Its GDP contribution increased from 29.7% in 2017-18 to 30.1% in 2022-23, while exports surged from ₹3.95 lakh crore in 2020-21 to ₹12.39 lakh crore in 2024-25. The Government of India has launched various...
Union Finance Minister Smt. Nirmala Sitharaman presented the Union Budget 2025-26 on February 1, outlining the government’s roadmap for accelerating growth, fostering inclusivity, and strengthening India’s position as a global economic powerhouse. With total expenditure set at ₹50.6 lakh crore and net tax receipts estimated at ₹28.4 lakh crore, the...
India’s US$ 24 billion agri-tech sector is growing with technologies like drones and precision farming, but faces challenges such as low awareness and limited credit access. Experts call for fiscal support in Budget 2025 to boost drone technology, provide uniform subsidies, and revamp the ₹500 crore PLI scheme. They also...
Finance Minister Nirmala Sitharaman presented several initiatives aimed at boosting India’s seafood sector in Union Budget 2024-25. Despite various challenges in significant export markets, India’s seafood exports touched an all-time high in volume in FY 2023-24, shipping 17, 81,602 MT of seafood worth US$ 7.4 billion. The overall budget of...
Union Finance Minister Nirmala Sitharaman presented the 2024-25 Budget on February 1 ahead of the upcoming general elections. The Interim Budget has prioritized initiatives for youth and women empowerment, maintaining fiscal consolidation and sustaining capital expenditure. Additionally, the Finance Minister announced an 11.1% increase in the capital expenditure outlay for...
The Union Budget for the fiscal year 2024-25 is set to be presented on February 1, against the backdrop of upcoming general elections as the nation stands at a pivotal juncture, facing economic challenges and opportunities. This year’s budget gains particular significance as it is expected to lay the groundwork...
Union Finance Minister Nirmala Sitharaman announced ₹ 1.18 trillion budget for Jammu and Kashmir Union Territory (UT) for FY24 with a developmental capital expenditure of ₹ 41,491 crore. With an aim to double the UT’s GDP within five years, the budget focuses on good governance, strengthening grass root democracy, employment...
The MSME sector of India contributes around 33% of the country’s total GDP and is predicted to contribute worth US$ 1 trillion to India’s total exports by 2028. With the upcoming Budget 2023-24, the Ministry of Micro, Small and Medium Enterprises expects extension of credit schemes, reduction in tariffs and...
The agriculture sector has witnessed a substantial increase in budget allocation from ₹ 27,662.67 crore in 2013-14 to ₹ 132,513 crore in 2022-23. With upcoming budget 2023-24, the agriculture industry expects number of incentives in key areas like production, manufacturing and farmer income. Image Credit: Shutterstock The agriculture sector is...
With Budget 2023-24 just around the corner, the Indian agriculture sector is expecting the announcement of new fertilizer policy. Niti Aayog has set up a task force to examine production and promotion of bio-fertilizers and organic fertilizers. The Department of Fertilizers expects special incentives to set up fertilizer units along...
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