The Union Budget 2025, presented on February 1st, lays out a comprehensive plan for economic growth, prioritizing investments in human capital, innovation, and rural development. Hon’ble Minister Jayant Chaudhary highlighted the budget’s forward-thinking approach, emphasizing tax reforms, support for key sectors like agriculture and MSMEs, and a strong focus on skills development. Notably, individual taxpayers earning up to Rs. 12 lakh will receive tax relief.
The budget emphasizes skilling and education, with initiatives such as 50,000 Atal Tinkering Labs, BharatNet expansion, and targeted skill development programs. Five National Centres of Excellence for Skilling will be established, focusing on global best practices and the “Make for India, Make for the World” initiative. ARs 10,000 crore Fund of Funds for Startups will support over 1.5 lakh ventures. A Rs. 500 crore Centre of Excellence in AI for Education will transform learning accessibility. Employment-led growth will be driven by skill development, Mudra loans for home stays, and state incentives. The “Rural Prosperity and Resilience” program aims to combat rural underemployment through targeted skilling and investment.
In Guwahati, the budget’s emphasis on skilling and entrepreneurship is expected to have a significant impact. The National Centres of Excellence for Skilling could provide valuable opportunities for local youth, enhancing their employability in sectors crucial to the Northeast’s expanding economy. Support for startups and MSMEs could further stimulate growth within Guwahati’s business community, particularly in sectors like tourism, logistics, and trade, which are vital to the region’s development. The focus on rural development is expected to further enhance demand for goods and services in Guwahati, the commercial hub of the Northeast.
