Finance Minister Nirmala Sitharaman Unveils National Manufacturing Mission in Union Budget 2025-26 to Boost ‘Make in India’ Initiative.

In a significant move to strengthen India’s position as a global manufacturing hub Finance Minister Nirmala Sitharaman announced the launch of the National Manufacturing Mission during her presentation of the Union Budget 2025-26. The mission aims to further propel the ‘Make in India’ initiative, focusing on clean technology, local manufacturing of solar cells, electric vehicle (EV) batteries, and high-voltage transmission equipment.

Key Highlights of the Union Budget 2025-26

  1. Enhanced Support for MSMEs
    To empower Micro, Small, and Medium Enterprises (MSMEs), the credit guarantee cover has been doubled from Rs. 5 crore to Rs. 10 crore. Additionally, the investment and turnover limits for MSME classification have been increased by 2.5 and 2 times, respectively. The government will also introduce customized credit cards with a Rs. 5 lakh limit for registered MSMEs, ensuring easier access to working capital.
  2. Centres of Excellence for Artificial Intelligence (AI)
    Recognizing the transformative potential of AI, the government has allocated Rs. 500 crore to establish Centres of Excellence in AI for education. These centers will focus on fostering innovation and skill development in emerging technologies.
  3. Focus on Clean Technology and Local Manufacturing
    The National Manufacturing Mission will prioritize clean tech and build a robust ecosystem for manufacturing solar cells, EV batteries, and high-voltage transmission equipment domestically. This initiative aligns with India’s commitment to sustainable development and reducing dependency on imports.
  4. Socio-Economic Upliftment and Social Security Schemes
    The Budget introduces a scheme for the socio-economic upliftment of urban workers and a Social Security Scheme for online platform workers. These initiatives aim to provide financial stability and welfare support to vulnerable sections of the workforce.
  5. Boost for Footwear and Leather Sector
    A dedicated product scheme for the footwear and leather sector is set to create 22 lakh new jobs and significantly boost exports. This move is expected to strengthen India’s position in the global market for leather products.
  6. Comprehensive Focus on Inclusive Growth
    The Union Budget 2025-26 emphasizes ten key areas, including agricultural growth, rural prosperity, financial inclusion, and inclusive development. Special attention has been given to empowering the poor, youth, farmers, and women, ensuring holistic progress across all sectors.

Budget Session Schedule

The Budget Session of Parliament, which began on January 31 will be conducted in two phases. The first phase will conclude on February 13, while the second phase will run from March 10 to April 4.

Conclusion

The Union Budget 2025-26 reflects the government’s commitment to fostering economic growth, innovation, and inclusivity. By launching the National Manufacturing Mission and introducing targeted schemes for MSMEs, clean tech, and workforce welfare, India is poised to strengthen its global manufacturing footprint while ensuring sustainable and inclusive development

Article Source and Credit :- https://ddnews.gov.in/en/make-in-india-booster-national-manufacturing-mission-to-be-launched/

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