In her Budget speech on Saturday, Finance Minister Nirmala Sitharaman proposed the formation of a Makhana Board in Bihar, aimed at supporting the state’s prominent Makhana (foxnut) industry. Known for its nutritional value, Makhana is widely produced and consumed in Bihar. Sitharaman highlighted the success of the One District One Product scheme, which has significantly benefitted Makhana producers. Additionally, the Makhana Research Center has been granted national institution status, and the product has received a Geographical Indication (GI) tag, enhancing its global recognition.
Sitharaman also emphasized her government’s focus on key sectors, with special mention of poor, youth, farmers, and women. In her opening remarks, the Finance Minister stressed India’s economic progress, stating, “Our economy is the fastest-growing among all major global economies.” She noted that the development trajectory of the past decade, alongside structural reforms, has garnered global attention and enhanced confidence in India’s potential.
Looking ahead, Sitharaman outlined the government’s vision for the next five years, focusing on the goal of “Sabka Vikas” (Development for All) with an emphasis on balanced growth across all regions. She identified the next five years as a unique opportunity to stimulate growth, foster inclusive development, invigorate society and industry, uplift household sentiment, and enhance the spending power of India’s growing middle class.
A key announcement in the Budget was the establishment of a urea plant in Assam, which will have an annual capacity of 12.7 lakh metric tons. This new plant, to be set up at Namrup in Assam, is part of efforts to ensure an adequate urea supply for the region. Sitharaman also highlighted the reopening of three dormant urea plants in the Eastern region to further bolster production.
While acknowledging the ongoing geopolitical challenges that could potentially slow global economic growth, the Finance Minister expressed confidence in India’s strong economic foundation. She reiterated that the government’s development policies and reforms over the past decade have positioned India as the world’s fastest-growing major economy, with global confidence in the nation’s future on the rise.
(ANI inputs)