Union Finance Minister Nirmala Sitharaman is presenting the Budget 2025 today, marking her eighth consecutive budget. The announcements in this budget are being closely watched by both the general public and the corporate sector. The government is expected to provide major relief in areas of inflation and taxation.
Before the budget was presented in Parliament, a cabinet meeting was held, where Prime Minister Narendra Modi stated that this budget would focus on the common man, farmers, and the aspirations of the poor. During her budget speech, Finance Minister Sitharaman emphasized that this budget is particularly focused on the poor, youth, farmers (Annadata), and women. One of the key announcements she made at the beginning was increasing the Kisan Credit Card (KCC) limit to ₹5 lakh.
India’s Economy Growing Rapidly
In her speech, Sitharaman highlighted India’s economic progress, stating that in the last 10 years, India’s economy has outpaced several major global economies. She emphasized that Budget 2025 has been designed with a focus on healthcare, manufacturing, ‘Make in India,’ employment, and innovation. The government’s primary objective remains to build a ‘Developed India,’ and economic growth remains a top priority.
Two Major Announcements for Farmers
Early in her budget speech, Sitharaman made two significant announcements for farmers:
- Launch of the PM Dhan Dhanya Yojana
- Increase in Kisan Credit Card (KCC) limit from ₹3 lakh to ₹5 lakh
According to the Economic Survey 2024-25, India now has 7.75 crore Kisan Credit Card holders, making this a crucial step toward financial empowerment for farmers.
What is the Kisan Credit Card (KCC)?
The Kisan Credit Card (KCC) was introduced by the Government of India, RBI, and NABARD in 1998 to provide low-interest loans to farmers. Apart from farmers engaged in crop production, those involved in fisheries and animal husbandry can also apply for a KCC loan. Previously, the credit limit was ₹3 lakh, but now, the government has announced customized KCC cards with a ₹5 lakh limit.
PM Dhan Dhanya Yojana to Benefit Millions of Farmers
Along with increasing the KCC limit, the finance minister also announced the PM Dhan Dhanya Yojana. This scheme will cover 100 districts that have low productivity, modern crop intensity, and below-average credit access. The initiative is expected to benefit 1.7 crore farmers.
Additionally, the finance minister announced a six-year mission to enhance self-sufficiency in edible oil production. She also revealed a comprehensive program for fruits and vegetables, aimed at improving their production and distribution.
This budget aims to strengthen the agriculture sector, empower farmers, and boost overall economic growth in the country.