New Delhi: With less than a week left for the union budget presentation, industry stakeholders, experts and economists are closely watching for the keys. As budget 2025 approaches, Finance Minister Nirmala Sitharaman faces the challenge of addressing the rising cost of essentials: Food, clothing, and housing.
On Saturday, FM Sitharaman will deliver her eighth annual budget speech and for NDA government’s third term. In Modi 3.0 economy was doing relatively well so the Finance Minister largely stuck to fiscal prudence.
Inflation and stagnant salaries have put pressure on these essential sectors, which are essential to meeting the needs of every household.
In addition to tackling the more general objective of economic growth, the Union Budget will be critical in determining if affordability can be restored in these important areas.
Roti – Addressing food subsidies and inflation
With 40% of household income going towards food, food prices in India continue to be a significant worry. Food inflation skyrocketed in 2024, with potato prices climbing 65% and tomato prices rising 161%, ET reported. Through the Pradhan Mantri Garib Kalyan Anna Yojana, the government provided food subsidies to more than 80 crore individuals. Food subsidies received Rs 2,05,250 crore in the 2024–25 Budget, a little decrease from the year before. In order to stabilize food costs over the long run, experts recommend fundamental adjustments.
In Budget 2025, increasing assistance for agricultural production and growing food subsidy programs may be key to keeping prices stable.
Kapada: Boosting the Textile industry
With more than 45 million workers, India’s textile sector is struggling due to declining demand and growing expenses. With customs duty reductions to encourage exports, the 2024–25 Budget increased its allocation to the sector from Rs 3,443 crore to Rs 4,417.09 crore. Reviving the economy requires structural and financial reforms, such as modernization and GST reductions.
Makaan : Building nation’s ‘Sapno ka Ghar’
Rising property prices in cities like Mumbai and Delhi make homeownership out of reach for many. According to News18, the 2024-25 Budget increased funding for the Pradhan Mantri Awas Yojana, but progress has been slow. Budget 2025 may focus on accelerating housing projects, increasing home loan tax deductions, and promoting affordable rental housing.
