Finance Minister Nirmala Sitharaman, in her budget speech today, has proposed to form a Makhana Board in the state of Bihar. Makhana, or fox nuts, a nutritious food, is widely produced and consumed in Bihar “under the One District One Product scheme.”.
Makhana producers have greatly profited. In addition to receiving a GI tag, the board has granted the Makhana Research Centre the status of a national institution. Sitharaman stated in her opening statement today that Garib, Youth, Annadata, and Nari would be the main priorities of her government.
“Our economy is the fastest-growing among all major global economies. Our development track record of the past 10 years and structural reforms have drawn global attention. Confidence in India’s capability and potential has only grown in this period. We see the next five years as a unique opportunity to realize ‘Sabka Vikas,’ stimulating balanced growth of all regions.”
Shri Nirmala Sitharaman, Finance Minister, Government of India
Besides, she announced that a urea plant will be set up in Assam to further augment urea supply. The plant with an annual capacity of 12.7 lakh metric tonnes is to be set up at Namrup, Assam. Three dormant urea plants in the Eastern region had been reopened, she said. The budget has also emphasized increasing spending power for India’s growing middle class. The finance minister said, “Union Budget 2025-26 with an effort to accelerate growth and secure inclusive development. Also, it invigorates society and industry, uplifts household sentiment, and enhances spending on the power of India’s rising middle class.
Geopolitical Changes
While acknowledging ongoing geopolitical challenges that could slow global economic growth, the finance minister expressed confidence in India’s strong economic foundation. The government’s development policies and structural reforms over the past decade have positioned India as the world’s fastest-growing major economy. This has strengthened global confidence in India’s potential, making the next five years crucial for achieving holistic development.
The Finance Minister highlighted the government’s vision of ‘Sabka Vikas’ (Development for All), aiming for balanced growth across all regions. Under the leadership of Prime Minister Narendra Modi, the government aims to unlock India’s full potential and enhance its global standing.