Finance Minister Nirmala Sitharaman announced several new measures and plans on Saturday as part of the 2025 union budget. The second budget for the third term of the NDA government will be expanded to broadband connections in government schools and will work to promote solar cell manufacturing, grid-scale manufacturing of batteries and other products. The budget will also provide insurance for nearly 10 million performers, while loan limits under the PM Swanidhi plan will be increased, as well as new rupees. 30,000 credit cards are linked to the Unified Payment Interface (UPI) of NPCI.
“The government’s revision of the Basic Customs (BCD) will strengthen domestic manufacturing and bring us closer to Prime Minister Narendra Modi’s ambitious $500 billion (approximately Rs 43,32,325,000 crore) electronics Manufacturing targets. The 10% to 20% situation, as well as the reduction of other LCD/LED components to 5%, is a forward-looking policy move that will bring a significant boost to domestic manufacturing champions such as Dixon, ” VP-RAM-Vice President-Vice President-Vice President-Industry Research Group (IRG), Cybermedia Research.
“The union budget has brought good news to the industry in 2025, including consumer electronics manufacturing. The reduction in BCD of the key components means that the positioning of parts such as batteries and displays will rise.”
Here are 5 things to do with the Alliance Budget 2025 key announcements related to key technologies.
- The government has announced five national skill centres of excellence and will also establish a new AI education centre of excellence – the latter will have a spending of Rs. The Finance Minister said $5 billion. Meanwhile, new infrastructure will be added to the new infrastructure built after 2014, as part of the addition of 6,500 seats to students in the new institution.
- Broadband connectivity under the Bharat Net program will be extended to all secondary and primary centers nationwide. Meanwhile, over 50,000 ATAL Thinking Laboratories (ATLs) will be established in government-established schools over the next five years.
- The government is exploring a new DeepTech fund to facilitate R&D. The data from the PM Gati Shakti initiative will also be shared with the private sector, and the Bharat Trade Network platform will be established to promote international trade. The Finance Minister said India Post will make improvements to improve its logistics capabilities.
- The Indian Manufacturing Plan will be expanded to include a new manufacturing task that will create an ecosystem for local production of components such as grid-scale batteries, solar photovoltaic (PV) batteries and electrolytics. The government has lowered basic tariffs (BCDs) on open battery and carrier-grade Ethernet switches, while BCDs on flat panel displays have increased from 10% to 20%.
- More than 10 million performers will be eligible for government-funded insurance, as well as E-SHRAM registration and an ID card. The Finance Minister also announced a new UPI link credit card with a usage limit of Rs. PM Swanidhi plan with a loan limit of 30,000 and higher.
