Parul
Finance Minister Nirmala Sitharaman said on Wednesday that the government is committed to encouraging global economic partnerships, leveraging technology to strengthen traditional sectors, and significantly enhancing India’s export potential.
Addressing a post-budget webinar on the theme Regulatory, Investment, and Ease of Doing Business (EODB) Reforms, she said the government will now introduce the Vishwas Bill 2.0 to decriminalise more than 100 provisions in various laws. This will further simplify processes for businesses, the minister stated.
The finance minister emphasised that the government remains committed to ensuring the timely implementation of all budget announcements for the 2025-26 fiscal year.
Highlighting the focus on capital expenditure (capex), Sitharaman stated that the path to reforms is complemented by the government’s unwavering commitment to capex as a driver of economic growth. For 2025-26, the total effective capex is proposed at Rs 15.48 lakh crore, which constitutes 4.3 per cent of the GDP. Out of this, Rs 11.21 lakh crore has been allocated as core capital expenditure by the Centre, amounting to 3.1 per cent of GDP. This unprecedented investment in infrastructure development is already creating jobs, strengthening industries, and laying the foundation for private sector participation in India’s growth story.
The finance minister also highlighted that budget announcements for 2024-25, such as the hike in the MUDRA loan limit from Rs 10 lakh to Rs 20 lakh and the new MSME Credit Assessment Model, have already been implemented. As many as 11 public sector banks have extended the revised limit to existing customers, while seven banks have made it available to new customers as well. Additionally, 21 new SIDBI branches have been opened in MSME clusters for 2024-25, aligning with the budget announcement.
The Ministry of Corporate Affairs has also implemented a pilot project for the PM Internship Scheme, which was announced in the 2024-25 budget. The scheme aims to create over 1.25 lakh internship opportunities in top companies, with over 6 lakh applicants already registered. The government remains steadfast in reducing regulatory burdens and enhancing trust-based governance to improve ease of doing business.
Sitharaman underscored that the decriminalisation of business-related laws reduces legal risks, allowing industries to operate with greater confidence. She stated that a robust manufacturing sector, free from unnecessary regulatory bottlenecks, will attract both domestic and foreign investments, drive economic growth, and position India as a trusted global player. Since 2014, the government has removed over 42,000 compliance requirements and decriminalised more than 3,700 legal provisions. Under the Jan Vishwas Act 2023, over 180 legal provisions were decriminalised.
During a thematic session of the post-budget webinar, M. Nagaraju, Secretary, Department of Financial Services, stated that under the MUDRA Scheme, Rs 33 lakh crore in loans has been sanctioned. Under the Stand-Up India initiative, Rs 59,000 crore has been disbursed to 2.62 lakh accounts. Additionally, under the PM SVANidhi scheme, Rs 14,000 crore has been sanctioned across 99 lakh accounts.
The Finance Minister noted that Wednesday’s webinar brought together stakeholders from ministries such as the Ministry of Finance, the Department for Promotion of Industry and Internal Trade (DPIIT), and the Ministry of Corporate Affairs, along with regulators, state governments, public sector banks, insurance companies, SIDBI, NABARD, and industry associations to ensure smooth policy implementation.
She appreciated the valuable inputs received during the discussions and assured that they would be examined carefully. These insights, she added, will help refine strategies, address potential implementation challenges, and ensure that budgetary announcements translate efficiently into tangible actions.
