Union Budget 2025: The first full budget of the third innings of PM Narendra Modi government was presented in Parliament today by Union Finance Minister Nirmala Sitharaman. This time the budget has made several major announcements for farmers, women, education, medical, MSMEs and startups as well as manufacturing sector. It also includes discounts for manufacturing lithium iron battery used in electric vehicles. This is expected to make the electric vehicle cheaper.
During the budget speech, Union Finance Minister Nirmala Sitharaman said that ‘cobalt powder and waste, lithium iron battery scraps, lead, zinc and 12 other important minerals will be given exemption.’ Additionally, 35 additional items will be exempted from customs for manufacturing lithium-cord battery for electric vehicles.
Strengthen national manufacturing mission
This time the budget has announced measures for farmers, women, education, medical, MSMEs and startups as well as manufacturing sector. To further promote the government’s Make in India scheme, Finance Minister Sitharaman announced that the National Manufacturing Mission will be further strengthened, which will also benefit the auto sector.
Many major announcements were made to promote the manufacturing sector. During this, he said in his speech that ‘our government will establish the National Manufacturing Mission’. Which will include large, medium and small scale industries. The mission will provide policy support, implementation roadmap as well as governance and monitoring framework for both central ministries and states.
He said that this mission will promote clean technology manufacturing to improve the environment as well as environmental development. The goal of this scheme is to improve domestic value enhancement. This includes supporting solar PV cell, electric vehicle battery, motor, controller, electrolyzer, wind turbine, high voltage transmission and manufacturing of grid scale battery.
20 crore loan for start-up
This time, start-ups have also got a big gift in the budget. The Finance Minister said in his speech that the loan amount for startups has now been increased to Rs 20 crore. Which was limited to 10 crores till now. This assistance will be provided in 27 different areas of the start-up sector. Its big benefit will also be seen in the auto sector of the country. In the last few years, there have been many new start-ups in the country which are associated with the production and sale of electric vehicles.
