Finance Minister Nirmala Sitharaman presented the first budget (Budget 2025) of the third term of the Modi government in the Lok Sabha today. In Budget 2025, the Modi government announced several new schemes. The main focus of the new schemes for 2025 is on farmers and women. Looking at the state-wise impact, Bihar has benefited the most in Budget 2025-26, with many announcements made specifically for the state. Let’s take a look at the new schemes announced by the Modi government for the financial year 2025-26.

PM Dhan Dhanya Krishi Yojana

The “Pradhan Mantri Dhan Dhanya Krishi Yojana,” announced by Finance Minister Nirmala Sitharaman, is a significant step toward improving the Indian agriculture sector and supporting farmers. The scheme focuses on districts with low yields, outdated agricultural practices, and limited access to credit.

Key Points of the Scheme:

  • Focus on Low Yields and Modern Agricultural Practices: 100 districts facing low yields, lack of modern agricultural practices, and limited credit availability will be covered.
  • Beneficiaries: The scheme is expected to benefit 1.7 crore farmers, potentially bringing significant changes to Indian agriculture.
  • Support for Youth, Women, and Farmers: The government will launch special schemes for rural prosperity that will help youth, women, and farmers.
  • Self-Sufficiency in Pulses: A six-year program will aim to increase self-sufficiency in pulses, focusing on tur, urad, and masoor pulses.
  • Promotion of Fruits and Vegetables Production: A comprehensive program will be launched to boost vegetable and fruit production and provide better prices for farmers.

Revamped PM Swanidhi Scheme

Union Finance Minister Nirmala Sitharaman announced that the ‘Pradhan Mantri Swanidhi Yojana’ for street vendors will be revamped. The loan limit will be increased to Rs 30,000, benefiting over 68 lakh street vendors by offering relief from high-interest informal sector loans.

Revised Udan Scheme

The government will launch a revised “Ude Desh Ka Aam Nagrik” (Udan) scheme to connect 120 destinations and help 4 crore additional passengers over the next 10 years.

Fund of Funds Scheme for Startups

A new round of the ‘Fund of Funds’ scheme, with a corpus of Rs 10,000 crore, will be introduced to support startups and encourage innovation. The scheme aims to meet the financial needs of emerging entrepreneurs.

Loan for Women, SC, and ST Entrepreneurs

The government will offer loans of Rs 2 crore to 5 lakh women, Scheduled Caste, and Scheduled Tribe entrepreneurs starting businesses. A manufacturing mission will be launched for small and medium enterprises (SMEs) and large industries.

Establishment of Day Care Cancer Centers

The government will set up “daycare” cancer centres in district hospitals across the country. By 2025-26, 200 of these centres will be established. Additionally, 10,000 new seats will be added to medical colleges and hospitals in the coming year.

No Tax on Annual Income Up to Rs 12 Lakh (New Tax Regime)

Finance Minister Nirmala Sitharaman announced that there will be no tax on annual income up to Rs 12 lakh under the new income tax regime. Salaried individuals will benefit from this tax exemption, with a standard deduction of Rs 75,000.

FDI in the Insurance Sector has risen to 100%

The government will increase Foreign Direct Investment (FDI) in the insurance sector from 74% to 100%, encouraging more foreign investments in the sector.

National Manufacturing Mission

The government has launched the National Manufacturing Mission to boost manufacturing in India. This mission will support both central ministries and state governments to encourage the “Make in India” initiative.