उत्तर प्रदेश

Balanced Budget Aims for Growth and Inclusive Development* 

Puran Dawar, Analyst & Social Thinker
After a long time, we have a budget that is neither an election-oriented budget nor a populist one. Yet, it has managed to please everyone—from the common man to economists, from street vendors to small and medium enterprises, and from heavy industries to the capital market.
Salaried individuals and small to mid-sized traders are also happy, as the income tax relief has exceeded their expectations. While many anticipated tax exemption up to ₹10 lakh, the exemption limit has been raised to ₹12 lakh. Those earning between ₹12 lakh and ₹25 lakh will benefit from an additional ₹80,000 to ₹1.10 lakh in savings, leading to increased spending, which will, in turn, boost GDP. This surplus income can help individuals pay off loans, including home loan EMIs.
The government has shown serious commitment to employment generation in this budget. Industries like jute, which offer vast opportunities for employment and foreign exchange earnings—especially benefiting the underprivileged—have been given special focus.
A significant allocation has been made for tourism, with 50 new tourist destinations planned. The hospitality sector has been granted infrastructure status. Other focus areas include urban development, rural progress, environmental improvement, renewable energy, AI research centers, and access to critical healthcare. In particular, making cancer treatment available in every government hospital within three years is a highly sensitive and commendable step for the common people, as a cancer diagnosis has often been perceived as a death sentence due to the prohibitive costs of treatment.
Despite economic challenges and an unremarkable economic survey for 2024-25, the government is making bold decisions. It understands well that with the current GDP growth rate of 6.3% to 6.8%, India cannot achieve its vision of becoming a developed nation. The GDP growth rate must reach at least 8% and eventually enter double digits. Achieving this while keeping inflation and fiscal deficit under control requires careful maneuvering.
The budget outlines two key strategies:
1.Increasing the purchasing power of the common man.
2.Developing alternative revenue sources beyond taxation, such as asset monetization, disinvestment, and public-private partnerships (PPP).
Now, the real test lies in how effectively these initiatives are implemented and how much benefit the public derives from them. It remains to be seen whether people leverage these opportunities merely for personal gain or shift their mindset towards contributing to the nation’s progress.