Budget 2025-’26: Finance minister announces manufacturing mission, export promotion measures

Union Finance Minister Nirmala Sitharaman on Saturday made a slew of announcements about manufacturing, export promotion, transport as she began presenting the Budget 2025-’26 in Parliament.

This is the first full budget of the third term of the National Democratic Alliance government.

Sitharaman announced a National Manufacturing Mission that will encompass small, medium and large industries. The mission will seek to provide policy support and execution roadmaps for Union ministries as well as state governments.

Sitharaman announced that an Export Promotion Mission will be set up to support micro, small and medium enterprises to “tackle non-tariff measures in overseas markets”. Facilitation groups will be set up to promote the export of select products and to improve supply chains.

The finance minister also announced that a modified UDAN scheme will be launched to enhance regional connectivity to 120 new destinations and carry 4 crore passengers in the next 10 years. Further, each infrastructure-related ministry will be asked to come up with a three-year pipeline of public-private partnership infrastructure projects.

On tourism, Sitharaman announced that the top 50 tourist destinations in the country will be developed in partnership with states “through a challenge mode”. States will be given performance-linked incentives for effective destination managements, she said.

The finance minister announced that a new “fund…

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