While this represents a nominal increase of 4%, in real terms, the allocation has decreased.
Among the key announcements are the Prime Minister Dhan-Dhaanya Krishi Yojna (PMD-DKY), a program focused on vegetables and fruits, the establishment of a Makhana Board in Bihar, and a national mission on high-yielding seeds.
PMD-DKY and Agricultural Initiatives
The PMD-DKY will be implemented in partnership with states and will align with the existing Aspirational District Programme. It aims to cover 100 districts characterized by low productivity, moderate crop intensity, and below-average credit availability. According to the Finance Minister, the scheme seeks to boost agricultural productivity, encourage crop diversification and sustainable farming, enhance post-harvest storage, improve irrigation facilities, and expand credit access. It is expected to benefit 1.7 crore farmers. However, no specific budget allocation has been announced for this initiative.
Additionally, a program has been introduced to address underemployment in agriculture through skill development, investment, and technology-driven interventions aimed at revitalizing rural economies. If successful, this could help curb migration from rural areas, as per the Finance Minister.
Key Budget Allocations
Significant allocations in the budget include:
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"Spirituality is the search for the meaning of our existence and the purpose we serve."
In his insightful address, Ram Nath Kovind underscored the teachings of Paramhansa Ramakrishna, Maa Sarada, and Swami Vivekananda, emphasizing their vision of a world united by love and the boundless potential of the human spirit.
Some schemes welcomed, but real allocation declines
In the Annual Budget, the Finance Minister allocated ₹1.37 lakh crore to the Ministry of Agriculture and Farmers' Welfare, compared to ₹ 1.32 lakh crore in the previous budget.
Of Benchmarks & Benefits
Banks use various benchmark rates to determine loan pricing. Initially, they had complete discretion over interest rates, leading to the adoption of the Prime Lending Rate (PLR). This internally determined rate was applied to the bank’s most creditworthy customers, with additional risk premiums charged for borrowers deemed riskier. However, this system resulted in a wide disparity in interest rates among borrowers.
Sajjan Jindal, JSW Group Chairman receives 'Business Leader of the Decade' award
Sajjan Jindal, JSW Group Chairman, has been conferred with the coveted 'Business Leader of the Decade' honour at the 15th AIMA Managing India Awards, in recognition of his transformative leadership in expanding JSW Group into a global conglomerate.
India needs Development Finance Institutions: Bridging the Gap for MSMEs
India's economic landscape has long been driven by the dynamism of its micro, small, and medium enterprises (MSMEs), which play a crucial role in contributing to GDP and employment.
Rate cut to boost demand, says RBI Report
On February 19, 2025, the Reserve Bank of India (RBI) released its monthly bulletin, providing insights into the state of the economy.
INCOME TAX REFORMS
The new Income Tax Bill aims to streamline taxation by using simpler language and reducing the number of sections. Replacing the complex 1961 Act is a welcome move.
TACKLING INFLATION
India's retail inflation stood at 4.31 percent in January, marking a five-month low and a crucial moment in economic policy.
"Cultivating a global culture of wellness"
Dr. Robert M. Goldman: Dr. Robert Goldman explored the profound connection between science, spirituality, and medicine, emphasizing the importance of holistic longevity in shaping a healthier, more unified world.
Falta Special Economic Zone : it's contribution in the overall socio-economic development of the region
Falta Special Economic Zone (earlier Falta Export Processing Zone) was set up by the Department of Commerce, Government of India in 1984. The Zonal Office of Development Commissioner, Falta SEZ has jurisdiction over the 12 states of West Bengal, Odisha, Jharkhand, Bihar, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim. BE spoke to Deen Bandhu Singh, Development Commissioner, Falta Special Economic Zone about the current scenario and the impact of the Falta SEZ. Falta Special Economic Zone (earlier Falta Export Processing Zone) was set up by the Department of Commerce, Government of India in 1984. The Zonal Office of Development Commissioner, Falta SEZ has jurisdiction over the 12 states of West Bengal, Odisha, Jharkhand, Bihar, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim. BE spoke to Deen Bandhu Singh, Development Commissioner, Falta Special Economic Zone about the current scenario and the impact of the Falta SEZ.
