Union Finance Minister Nirmala Sitharaman, in her speech presenting the Union Budget 2025 on Saturday, emphasized that the next five years present a unique opportunity for India to realize its vision of “Sabka Vikas” (development for all), driving balanced growth across all regions.
Sitharaman highlighted India’s strong economic performance over the past decade, underscoring how the country’s track record of development and structural reforms has garnered global attention. “Our economy is the fastest growing among all major economies,” she remarked. “Our development track record and structural reforms have drawn global attention, and confidence in India’s capabilities has only grown during this period. We see the next five years as a unique opportunity to realize ‘Sabka Vikas,’ stimulating balanced growth across all regions.”
The Finance Minister further shared that the Budget proposes development initiatives across 10 broad areas, with a focus on supporting the poor, youth, farmers, and women.
Among the key announcements was the introduction of a Nuclear Energy Mission, aimed at advancing India’s transition toward clean energy, aligning with the country’s goal of becoming a “Viksit Bharat” (developed India). To boost private sector participation in this mission, Sitharaman proposed amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act. A dedicated Rs 20,000 crore research and development initiative for Small Modular Reactors (SMRs) will also be launched, with a target of having at least five indigenously developed SMRs operational by 2033.
“Nuclear Energy Mission for Viksit Bharat. The development of at least 100 GW of nuclear energy by 2047 is essential for our energy transition,” she stated. “To enable active partnerships with the private sector toward this goal, amendments to the Atomic Energy Act and Civil Liability for Nuclear Damage Act will be implemented.”
With a clear path laid out for economic empowerment, industrial growth, and social well-being, the Finance Minister reiterated the government’s determination to drive India toward greater prosperity in the coming years, aiming for holistic, inclusive development.