US EditionVIEW India budget makes fresh bet on manufacturing as it seeks to sustain growth
The budget includes a gross borrowing plan of $187.6 billion and expands foreign investment limits to boost MSMEs and strengthen supply-chain resilience.
- On Feb 1, Finance Minister Nirmala Sitharaman unveiled India's annual budget prioritizing manufacturing as a central growth strategy and pledged to accelerate growth amid a volatile global environment.
- Amid geopolitical uncertainty, the government aimed to strengthen supply-chain resilience and trade ties with the European Union, while reforms seek to future-proof the financial system via a high-level committee on banking and restructuring of PFC and REC.
- Creating Rare Earth Corridors, the budget targets Odisha, Tamil Nadu, Kerala and Andhra Pradesh for mining and refining, allocates INR 10K crore SME Growth Fund, and launches Mission 2.0 for semiconductors and electronics.
- Markets reacted to the surprise rise in gross borrowing of 17.2 trillion rupees , with a steep STT on futures and options likely to raise impact costs for traders, hedgers and arbitrageurs.
- The measures aim to support private-sector capex and MSMEs as investment avenues in the coming years, with the Portfolio Investment Scheme allowing PRO India to invest directly and doubling the per-investor limit to 10%.
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11 Articles
Channel News Asia
India budget makes fresh bet on manufacturing as it seeks to sustain growth
The focus is on structural reforms, particularly in manufacturing, building a robust financial sector and stepping up investments in cutting-edge technologies such as AI, India's Finance Minister Nirmala Sitharaman said on Sunday (Feb 1).
VIEW India budget makes fresh bet on manufacturing as it seeks to sustain growth
India's annual budget made a fresh bet on the country's manufacturing sector as Finance Minister Nirmala Sitharaman laid out priorities for Asia's third-biggest economy and pledged to accelerate growth amid a volatile global environment.
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