Quote“Viksit Bharat Budget guarantees to strengthen the foundation of a developed India”
Quote“This budget carries the confidence of continuity”
Quote“This budget is a reflection of the aspirations of Young India”
Quote“We set a big goal, achieved it, and then set an even bigger goal for ourselves”
Quote“Budget focuses on empowering the poor and middle-class”

My dear countrymen,

Today's Budget, though an Interim Budget, is an inclusive and innovative Budget. This Budget carries the confidence of continuity. This Budget will empower all four pillars of ‘Viksit Bharat’ -- youth, the poor, women, and farmers. Nirmala ji's Budget is a Budget for building the future of the country. This Budget carries the guarantee of strengthening the foundation of ‘Viksit Bharat’ by 2047. I congratulate Nirmala ji and her team wholeheartedly.

Friends,

This Budget reflects Bharat’s young aspirations. Two important decisions have been taken in the Budget. A fund of Rs. 1 lakh crore has been announced for research and innovation. There has also been an announcement in the Budget to expand the tax exemption for start-ups.

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Friends,

While keeping the fiscal deficit under control in this Budget, a historic high of Rs. 11 lakh 11 thousand 111 crore has been allocated for capital expenditure. In the language of economists, this is somewhat of a sweet spot. This will not only lead to the construction of 21st-century modern infrastructure in Bharat, but also create countless new opportunities for employment for the youth. In the Budget, it has been announced to manufacture 40,000 modern coaches under the 'Vande Bharat Standard' and induct them in regular passenger trains. This will enhance the experience of comfortable travel for millions of passengers on different railway routes across the country.

Friends,

We set a big goal, achieve it, and then set an even bigger goal for ourselves. We have built more than 4 crore houses for the poor in villages and cities. Now we have set a goal of building 2 crore more new houses. Our initial goal was to make 2 crore women 'Lakhpati Didis'. Now, this goal has been increased to making 3 crore ‘Lakhpati Didis’. The Ayushman Bharat scheme has greatly helped the poor. Now, Anganwadi and ASHA workers will also benefit from this scheme.

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Friends,

In this Budget, significant emphasis has been placed on empowering the poor and middle class, creating new income opportunities for them. Under the Rooftop Solar campaign, one crore families will receive free electricity through solar rooftop panels. Not only this, people will also earn an additional income of 15 to 20 thousand rupees annually by selling surplus electricity to the government. This income will be available to every family.

Friends,

The announcement of the income tax remission scheme today will provide significant relief to nearly one crore middle-class individuals. Previous governments had burdened the common man with a heavy sword hanging over their heads for decades. Today, crucial and significant decisions have also been made for the farmers in this Budget. Whether it's the use of Nano DAP, a new scheme for livestock, expansion of the PM Matsya Sampada Yojana, or the Aatmanirbhar Oil Seed Abhiyan, farmers' income will increase, and there will be considerable reduction in expenses. Once again, I extend my best wishes to all citizens for this historic Budget. Thank you very much.

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List of Outcomes: State Visit of Prime Minister to Maldives
July 26, 2025
SI No.Agreement/MoU

1.

Extension of Line of Credit (LoC) of INR 4,850 crores to Maldives

2.

Reduction of annual debt repayment obligations of Maldives on GoI-funded LoCs

3.

Launch of India-Maldives Free Trade Agreement (IMFTA) negotiations

4.

Joint issuance of commemorative stamp on 60th anniversary of establishment of India-Maldives diplomatic relations

SI No.Inauguration / Handing-over

1.

Handing-over of 3,300 social housing units in Hulhumale under India's Buyers' Credit facilities

2.

Inauguration of Roads and Drainage system project in Addu city

3.

Inauguration of 6 High Impact Community Development Projects in Maldives

4.

Handing-over of 72 vehicles and other equipment

5.

Handing-over of two BHISHM Health Cube sets

6.

Inauguration of the Ministry of Defence Building in Male

SI No.Exchange of MoUs / AgreementsRepresentative from Maldivian sideRepresentative from Indian side

1.

Agreement for an LoC of INR 4,850 crores to Maldives

Mr. Moosa Zameer, Minister of Finance and Planning

Dr. S. Jaishankar, External Affairs Minister

2.

Amendatory Agreement on reducing annual debt repayment obligations of Maldives on GoI-funded LoCs

Mr. Moosa Zameer, Minister of Finance and Planning

Dr. S. Jaishankar, External Affairs Minister

3.

Terms of Reference of the India-Maldives Free Trade Agreement (FTA)

Mr. Mohamed Saeed, Minister of Economic Development and Trade

Dr. S. Jaishankar, External Affairs Minister

4.

MoU on cooperation in the field of Fisheries & Aquaculture

Mr. Ahmed Shiyam, Minister of Fisheries and Ocean Resources

Dr. S. Jaishankar, External Affairs Minister

5.

MoU between the Indian Institute of Tropical Meteorology (IITM), Ministry of Earth Sciences and the Maldives Meteorological Services (MMS), Ministry of Tourism and Environment

Mr. Thoriq Ibrahim, Minister of Tourism and Environment

Dr. S. Jaishankar, External Affairs Minister

6.

MoU on cooperation in the field of sharing successful digital solutions implemented at population scale for Digital Transformation between Ministry of Electronics and IT of India and Ministry of Homeland Security and Technology of Maldives

Mr. Ali Ihusaan, Minister of Homeland Security and Technology

Dr. S. Jaishankar, External Affairs Minister

7.

MoU on recognition of Indian Pharmacopoeia (IP) by Maldives

Mr. Abdulla Nazim Ibrahim, Minister of Health

Dr. S. Jaishankar, External Affairs Minister

8.

Network-to-Network Agreement between India’s NPCI International Payment Limited (NIPL) and Maldives Monetary Authority (MMA) on UPI in Maldives

Dr. Abdulla Khaleel, Minister of Foreign Affairs

Dr. S. Jaishankar, External Affairs Minister