RSS-affiliate SJM says this year's Budget 'prudent', addresses key concerns

New Delhi, Feb 2 (PTI) – The Swadeshi Jagran Manch (SJM), an affiliate of the Rashtriya Swayamsevak Sangh (RSS), has lauded the Union Budget 2025-26 as a "prudent budget amidst challenges," emphasizing its balanced approach to economic growth and self-reliance.

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 in the Lok Sabha on Saturday, unveiling a host of economic measures, including a significant income tax exemption for individuals earning up to ₹12 lakh per annum. The budget also introduced restructured tax slabs and outlined next-generation reforms such as raising the FDI limit in the insurance sector, simplifying tax laws, and reducing duties on intermediaries while enhancing fiscal support for welfare schemes.

Addressing Economic Concerns​

SJM co-convenor Ashwani Mahajan praised the budget for tackling key economic concerns, particularly the slowdown in GDP growth, rupee depreciation, inflation, declining consumption, rising trade deficit, and falling forex reserves.

"The government faced a real challenge in boosting manufacturing growth, agricultural self-reliance, and supporting farmers while ensuring tax relief for middle-income earners and addressing inflationary concerns," Mahajan stated. "The Budget 2025-26 successfully balances these concerns and paves the way for economic progress."

Boosting Manufacturing and Reducing Chinese Dependence​

The SJM welcomed the budget’s focus on manufacturing, particularly initiatives supporting Micro, Small, and Medium Enterprises (MSMEs). Key measures include:

• The MSME Manufacturing Mission
• Enhanced credit guarantees for MSMEs
• Credit cards for micro-enterprises
• Extension of the Production-Linked Incentive (PLI) scheme

These efforts, Mahajan noted, will shield India from Chinese dominance in manufacturing. "For years, we have advocated for a well-defined manufacturing policy, and this budget is a step in the right direction."

Strengthening Clean-Tech and Reducing Import Dependence​

Mahajan highlighted the budget’s push towards clean technology, including investments in lithium batteries, electric vehicle motors, and solar cells. He cautioned against excessive reliance on imported components, which could increase India's trade deficit and lead to economic exploitation.

"This move will bolster Aatmanirbhar Bharat (self-reliant India) and reduce foreign dependence in crucial sectors," he added.

Health, Agriculture, and Rural Development​

The healthcare and agriculture sectors have received a significant boost in the budget. The government has allocated ₹98,311 crore for healthcare, with special emphasis on:

• Customs duty exemptions on life-saving drugs
• Establishment of daycare cancer centers
• Strengthening the gig economy and worker protections

Additionally, measures like increasing the Kisan Credit Card limit, pushing for food processing, and other rural development schemes aim to narrow the rural-urban income gap.

Final Thoughts​

Calling the budget a strategic roadmap for economic resilience, Mahajan reiterated its focus on self-reliance, industrial growth, and rural development. "This budget is a holistic approach to strengthening India's economywhile ensuring socio-economic welfare," he said.

With its pro-industry and pro-welfare measures, the Union Budget 2025-26 sets the stage for a robust and self-sufficient economic future.