Finance Minister Nirmala Sitharaman began her eighth consecutive budget presentation on February 1, 2025, emphasizing the government’s sustained efforts to accelerate growth, secure inclusive development, and boost household sentiment. The budget speech, presented in Parliament at 11 a.m., aims to uplift India’s economic prospects while remaining fiscally disciplined.
This year’s budget comes at a time when India’s economy is projected to grow between 6.3% and 6.8% in 2025-26, according to the Economic Survey for 2024-25. The survey, tabled in Parliament on January 31, reflects optimism regarding India’s post-pandemic recovery but emphasizes the need for sustained reforms to achieve long-term economic stability.
During her budget speech, Sitharaman announced the government’s plans to set up a new urea plant at Namrup, Assam, with an annual capacity of 12.7 lakh metric tons. The plant will cater to the growing demand for urea in the northeastern region and reduce the country’s dependency on imports, aligning with the government’s focus on agricultural self-reliance (Aatmanirbharta).
Key highlights:
- The Namrup urea plant is expected to play a crucial role in boosting domestic urea production, particularly in the eastern region of India.
- Sitharaman also announced that three previously dormant urea plants in the eastern region have been successfully reopened, further enhancing production capacity.
- These efforts are in line with the government’s long-term plan to improve fertilizer availability, support farmers, and ensure food security through increased crop productivity.
The new urea plant and the revival of dormant facilities are expected to strengthen India’s fertilizer ecosystem, ensuring timely supply of key nutrients for farmers while supporting agricultural growth.
