The recently announced Budget for 2025 signals a pivotal moment for India, outlining a comprehensive strategy to propel the nation forward in key sectors such as healthcare, agriculture, innovation, education, and entrepreneurship. As an entrepreneur, scientist, and agriculturist, the Budget’s focus on these areas is particularly encouraging, as it promises to empower various facets of Indian society and industry.
Agriculture and technology integration is a standout feature of this year’s Budget. The emphasis on agri-tech start-ups and digital platforms for farmers marks a significant step towards modernising the agricultural sector. By leveraging technology, India can enhance its global standing in food security and sustainability. The establishment of a second Gene Bank with 10 lakh germplasm lines is a strategic move that will bolster long-term food and nutritional security. Additionally, the government’s plans to upgrade infrastructure and warehousing for air cargo, particularly for high-value perishable horticulture produce, will streamline logistics, minimise waste, and open up new export opportunities. This focus on infrastructure is crucial for boosting agri and perishable goods exports, which is as vital as the emphasis on pharmaceutical products cargo. The Budget also highlights the need for a quota in warehousing, air, rail, and road transportation to support this growth.
The Budget’s healthcare initiatives are equally noteworthy. The “Heal in India” initiative aims to position the country as a global destination for medical tourism. This, coupled with the exemption of basic customs duty on 36 life-saving drugs, will make healthcare more accessible and affordable. While this move benefits multinational pharmaceutical companies, there is a clear need for similar reliefs for domestic pharma players to ensure a balanced and inclusive healthcare ecosystem.
Cultivating a scientific temper among the youth is another exciting aspect of the Budget. The expansion of Atal Tinkering Labs in 50,000 government schools across India will foster creativity and innovation at the school level. These labs will provide students with the tools and resources to explore STEM fields, nurturing the next generation of scientists and innovators.
To ensure digital inclusion, the Budget includes provisions to bring broadband connectivity to all government secondary schools and primary health centers. This move will enable education and healthcare to reach remote and underserved areas, bridging the digital divide. Additionally, the announcement to set up 200 day-care cancer centres in district hospitals is a welcome development. Implementing a Public-Private Partnership (PPP) model for this initiative could ensure efficient management, faster implementation, and maintain quality standards to avoid secondary infections.
The Budget also allocates ₹20,000 crore to promote private sector-driven research and development (R&D) and innovation. This investment is crucial for developing new technologies, improving crop yields, and addressing issues like climate change. The establishment of a deep-tech fund to support next-generation start-ups in areas such as AI, biotechnology, and clean energy further underscores the government’s commitment to fostering innovation.
A significant initiative is the establishment of five National Centres of Excellence for Skill Development, with a focus on global partnerships. These centres aim to equip India’s youth with the skills needed to support the “Make in India, Make for the World” initiative. This, coupled with 10,000 fellowships for IITs and the Indian Institute of Science (IISc), will play a transformative role in shaping India’s future workforce. Successful execution at the grassroots level is crucial to achieve agri-sector growth targets.
The Budget’s success will depend on effective implementation of transformative reforms in taxation, power sector, urban development, mining, financial sector, and regulatory reforms. These reforms will augment India’s growth potential and global competitiveness, ensuring that the policies outlined in the Budget empower the next generation of Indians.