In her Budget speech today, Finance Minister Nirmala Sitharaman announced the proposal to establish a Makhana Board in Bihar. Makhana, also known as foxnuts, is a highly nutritious food that is predominantly produced and consumed in the state.
The Makhana industry has already seen significant benefits under the One District One Product scheme. Additionally, the Makhana Research Center has been granted the status of a national institution, and Makhana has received a Geographical Indication (GI) tag, further boosting its recognition.
In her opening remarks, Sitharaman emphasized that the government’s priorities would focus on Garib (poor), Youth, Annadata (farmers), and Nari (women). She also highlighted India’s position as the fastest-growing major global economy, crediting the country’s structural reforms and development track record over the past decade for drawing global attention.
“Our economy is the fastest-growing among all major global economies. The past 10 years of development and reforms have instilled global confidence in India’s potential. We view the next five years as a unique opportunity to realize ‘Sabka Vikas’—balanced growth across all regions,” she said.
In addition to the Makhana Board proposal, Sitharaman announced plans to establish a new urea plant in Assam. The plant, with an annual capacity of 12.7 lakh metric tons, will be set up in Namrup, Assam, as part of efforts to boost urea supply in the region. She also revealed that three dormant urea plants in the Eastern region have been reopened to further enhance production.
The Budget also focuses on boosting the spending power of India’s growing middle class. Sitharaman outlined the government’s commitment to accelerating growth, securing inclusive development, and invigorating society and industry, while uplifting household sentiment and empowering the rising middle class.
Acknowledging global geopolitical challenges, Sitharaman expressed confidence in India’s robust economic foundation, which has helped position the country as a leader in global economic growth. The Finance Minister reiterated the government’s vision of ‘Sabka Vikas’ (Development for All) under Prime Minister Narendra Modi’s leadership, aimed at unlocking India’s full potential and enhancing its global standing.