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During the Union Budget 2025, Finance Minister Nirmala Sitharaman announced significant measures to integrate gig and platform workers into India's social security framework. This initiative aims to provide much-needed support to a workforce that has been instrumental in driving the new-age services economy.

<a href="https://www.storyboard18.com/special-coverage/budget-2025-fm-nirmala-sitharaman-says-our-economy-is-fastest-growing-among-major-economies-55237.htm">Read more: Budget 2025 Big Takeaways: Relief for middle class. No income tax payable up to Rs 12 lakh, says FM Sitharaman</a>

A key component of this plan is the registration of gig workers on the e-Shram portal. Launched in 2021 by the Ministry of Labour and Employment, the e-Shram portal was designed to create a national database of unorganised workers. By registering, gig workers will receive identity cards, facilitating easier access to various government schemes tailored for informal workers. This move officially acknowledges gig workers as part of the employment ecosystem, providing them with a sense of inclusion and recognition.

Complementing this, the government has extended health insurance coverage under the Pradhan Mantri Jan Arogya Yojana (PM-JAY) to gig workers. PM-JAY is the world's largest health assurance scheme, offering ₹5 lakh per family per year for secondary and tertiary care hospitalisation. This inclusion ensures that gig workers have a financial cushion against significant healthcare expenditures, addressing a critical vulnerability in their current working conditions.

Industry leaders have lauded these announcements. Balasubramanian A, Senior VP and Business Head at TeamLease, remarked, "Collecting personal information on 1 crore gig workers in India, providing them with an ID card on the e-Shram portal and thereby enabling coverage through the Jan Arogya Scheme is a long-awaited step in the right direction." He emphasized that as employment becomes more flexible, there's a pressing need for reforms that recognize and formalize the gig ecosystem."

Similarly, Aadit Palicha, Co-Founder and CEO of Zepto, highlighted the significance of these measures, stating, "The introduction of social security measures for gig workers is a key highlight, acknowledging their valuable contribution to the economy." 

Rohit Kapoor, CEO of Food Marketplace at Swiggy, noted the government's focus on various societal segments, including the youth and the poor. He affirmed Swiggy's commitment to contributing to India's progress, especially in areas aligning with the announced measures.

Moreover, Vivek Krishna, CFO of Rapido, described the e-Shram portal registration and PM-JAY coverage as "game-changers" that prioritize the well-being of gig workers, including their own captains.

Anirudh Arun, Co-Founder and CEO of BluSmart Fleet, emphasized the importance of these initiatives in fostering a more inclusive and equitable platform economy. He stated that this focus on social security directly benefits driver-partners, reinforcing the company's commitment to their well-being and professional growth.

Additionally, Madhav Krishna, CEO and Founder of Vahan.ai, commended the government's allocation of funds for healthcare benefits under PM-JAY to about 1 crore gig workers. He noted that while the Code of Social Security was introduced in 2020, it's encouraging to see financial allocations being made towards it. He believes that government-backed ID cards for gig workers will help formalize the profession and reduce the financial burden on e-commerce and quick commerce platforms.

Lastly, Sonal Arora, Country Manager at GI Group Holding, highlighted the broader implications of these measures. She stated that the redesign of the PM Swanidhi Scheme and the incorporation of gig workers into the e-Shram portal represent important steps toward social security and financial empowerment in the unorganized sector. By raising loan limits and offering a ₹30,000 UPI-linked credit card, the government is aiding gig workers and independent contractors in growing their businesses and adding jobs.

However, despite these positive developments, recent evaluations in October last year highlight ongoing challenges within the gig economy. The Fairwork India Ratings 2024 report, conducted by the Centre for IT and Public Policy (CITAPP) at the International Institute of Information Technology Bangalore (IIITB), assessed 11 platforms offering location-based services in sectors such as domestic and personal care, logistics, food delivery, and transportation. The study evaluated platforms against five principles: Fair Pay, Fair Conditions, Fair Contracts, Fair Management, and Fair Representation. 

Notably, only Bigbasket and Urban Company were awarded the first point under Fair Pay for instituting a minimum wage policy that guaranteed all their workers earn at least the hourly local minimum wage after factoring in work-related costs. No platform earned the second point under Fair Pay, which requires platforms to commit to and ensure a local living wage after work-related costs or provide sufficient evidence that all workers earn at least this amount. Furthermore, the report found that platforms like Amazon Flex, Flipkart, Ola, Porter, and Uber were identified as underperformers, scoring low in ensuring fair working conditions for gig workers. 

These findings indicate the importance of the government's recent initiatives, as they aim to address some of the critical gaps identified in the Fairwork report.

<strong>Read More:</strong><a href="https://www.storyboard18.com/how-it-works/gig-workers-face-exploitation-only-urban-company-bigbasket-ensure-minimum-wage-report-44450.htm" rel="noopener" target="_blank">Gig workers face exploitation, only Urban Company, bigbasket ensure minimum wage: Report</a>

Is the Gig workforce finally gaining recognition? Budget 2025's bold moves win corporate praise

The Ministry of Electronics and Information Technology (MeitY) has significantly bolstered the Data Protection Board of India (DPBI) with a 2.5-fold increase in its budget for FY26.  The total allocation now stands at ₹5 crore, signaling a strong government commitment to data protection, as per reports.

Of that amount, ₹50 lakh will be used for capital expenditure, including the development of key infrastructure like the DPBI's digital portal.  The remaining ₹4.5 crore is designated for revenue expenditure, covering operational costs such as salaries and other essential expenses.

The Data Protection Board (DPB) is essential for implementing the Digital Personal Data Protection Act, 2023, which was gazetted in August 2023. MeitY's draft data protection rules, released for consultation on January 3, propose a phased implementation, starting with DPB-related provisions.

IT Minister Ashwini Vaishnaw has indicated that the final data protection rules are expected to be notified by mid-year.  Following the release of draft rules, both government and private sector entities will have approximately 24 months to achieve compliance, according to the Minister and IT Secretary S Krishnan.

The Digital Personal Data Protection Act mandates the creation of a "digital by design" Data Protection Board (DPB), operating primarily as a digital office.  The DPB will be comprised of a chairperson and members, the number of which will be determined by the central government.  Appointments will be for a two-year term, with salaries also set by the central government.  The DPB will have the authority to direct data fiduciaries to take corrective action in response to personal data breaches or user complaints.

Budget 2025: IT Ministry allocates Rs 5 crore to Data Protection Board

Media and advertising agencies are showing positive signs of growth in AdEx after Finance Minister Nirmala Sitharaman announced that under the new tax system, individuals earning up to ₹12 lakh will not be required to pay taxes. This is expected to boost household consumption, savings, and investments. As a result, brands are likely to increase their advertising spending by 15-20%.

Overall, this budget not only benefits individuals but also creates a ripple effect for brands and advertisers, making it a significant win for the advertising industry.

Experts suggest that brands in sectors such as retail & e-commerce, automotive, real estate, consumer electronics & smartphones, travel & hospitality, and fintech & BFSI are likely to aggressively increase their ad spending.

<strong>Mayank Shah, Vice President of Parle Products</strong>, stated, "The Union Budget takes a bold step toward driving demand for consumer goods and addressing challenges the sector has faced in recent years. For instance, making an effective tax-free income of ₹12.75 lakh is quite impactful, as it increases consumption due to higher disposable income."

Shah added, "With rising consumption, brands across multiple categories will increase their ad spending. The biscuit category alone spends ₹800-1000 crore on advertising, which is now expected to grow by 15-20%."

<strong>Rajiv Dubey, VP & Head - Media, Dabur India Ltd</strong>, said, "With the increase in disposable income for consumers, we anticipate significant growth in advertising spends by brands this fiscal year. Sectors such as FMCG, consumer electronics, and e-commerce are expected to lead this surge."

Dubey explained, "The recent budget has introduced significant tax relief for the middle class and increased spending on infrastructure and healthcare, which will further boost consumer confidence and spending. For instance, the expansion of healthcare facilities and the focus on rural development are likely to drive demand for FMCG products in these areas. Additionally, the emphasis on digital transformation and technology will encourage consumer electronics and e-commerce brands to invest heavily in advertising to capture the growing online market."

<strong>Shrenik Gandhi, Co-founder and CEO of White Rivers Media</strong>, said, "With more disposable income in consumers’ hands due to the ₹12 lakh income tax relief, advertising spending is expected to see a positive increase, particularly in consumption-driven sectors among the salaried class."

Gandhi continued, "The overall advertising market could experience a 10% boost, driven by increased discretionary spending. Digital ad spending, already on an upward trend, may accelerate further as brands look to capitalize on growing consumer sentiment."

<strong>Aasif Malbari, Chief Financial Officer - Godrej Consumer Products Ltd</strong>, said, "The Union Budget 2025 takes a balanced approach by strengthening rural infrastructure, manufacturing, and consumer spending—three critical pillars for the FMCG sector. Investments in rural development and job creation will boost economic activity and drive higher consumption, opening new opportunities for market expansion."

"Overall, the budget lays a strong foundation for a more consumption-driven economy, creating significant growth opportunities for the FMCG industry," Malbari added.

<strong>Ambika Sharma, Founder & Chief Strategist, Pulp Strategy</strong>, said, "The Union Budget 2025 has created an optimistic outlook for consumer spending, with tax reductions putting more money into people’s pockets. Naturally, brands will respond by ramping up their ad spends to capture this increased demand."

Sharma pointed out that overall, India’s advertising market is expected to grow by 9.5% in 2025, with digital media leading the way at a projected 15.9% growth. "With half of all ad revenues expected to come from digital channels by 2026, brands will prioritize online campaigns, programmatic advertising, and AI-driven personalization to maximize engagement."

AdTech industry experts are anticipating a sharp increase in ad spending. <strong>Prashant Puri, CEO and Co-Founder of AdLift</strong>, said, "We expect a 20%-25% growth in advertising spends across multiple sectors. Consumers will spend more on higher-order value products. We predict a significant increase in auto sales as people look to upgrade."

"With more disposable income, spending on travel and leisure is expected to rise, leading these sectors to boost advertising to attract customers," Puri added.

<strong>Meher Patel, Founder, Hector AI</strong>, explained that in order to capture the growing demand and increased consumer traffic, brands are projected to raise their advertising budgets by approximately 10%, with sectors like luxury goods, technology, and travel seeing particularly strong ad spend growth. Patel stated, "With more disposable income available to consumers, a significant boost in consumption is anticipated, especially in high-end cosmetics, electronics, flagship mobile phones, home appliances, personal care products, and the travel sector, including accessories."

High disposable income will boost AdEx, companies to increase ad budgets

The Indian government has allocated Rs 1,210.76 crore for Information and Publicity in 2025-26. In the Budget 2024-25, the Narendra Modi government had allocated Rs 1,089 crore maintaining a strong emphasis on advertising. Additionally, the government allocated Rs 2,829.70 crore for broadcasting as compared to Rs 2,959 crore in 2024-25.

The Government of India's revenue receipts from the Information and Publicity sector were ₹37.77 crores in 2023-24 and are estimated to be ₹47.90 crores in 2025-26. This revenue is generated through activities like public communication, media engagement, and advertisements.

Revenue from Broadcasting was ₹972.93 crores in 2023-24 and is expected to increase to ₹1227.90 crores in 2025-26. This income likely includes revenue from government-run broadcasting agencies like Doordarshan and All India Radio through advertisements and other services.

The government spent ₹1228 crores on Information and Publicity in 2023-24, with an estimated ₹1210.76 crores budgeted for 2025-26. This expenditure includes government awareness campaigns, media outreach, and information dissemination. 

The Broadcasting sector had an expenditure of ₹2897.74 crores in 2023-24, with a planned budget of ₹2829.70 crores for 2025-26. This spending covers public broadcasting services, infrastructure development, and digital initiatives in government-run media.

Government earmarks Rs 1,211 crore for publicity in 2025-26

CNBC-AWAAZ emerged as the undisputable leader in Budget coverage, drawing over 5 lakh concurrent viewers on YouTube as Finance Minister Nirmala Sitharaman presented the Union Budget 2025. (Source: Databeings)

According to YouTube concurrent data, CNBC-AWAAZ saw peak concurrency, capturing 4,99, 451 views at 12.05 pm, during the FM’s pivotal speech. This was four times higher than Zee Business, which peaked at 1,72,842 at the time. ET Now Swadesh trailed far behind at 13,633 concurrent views. The channel maintained its leadership throughout the Budget speech, consistently attracting the highest viewership from 11 AM to 12:30 PM.

Speaking on the unparalleled leadership of the network’s Hindi business news brand, Smriti Mehra, CEO – English &amp; Business News, Network18 said, "These numbers reinforce CNBC-AWAAZ as India’s number one destination for Budget coverage, which outperformed not just business news competitors but also leading Hindi news channels. Given the channel’s 20-year legacy, audiences have trusted us for clarity, depth, and real-time insights on one of the most important economic events in the country. We thank our viewers and advertisers and remain committed to delivering exceptional value to both.”

<img class="aligncenter size-full wp-image-55332" src="https://images.storyboard18.com/storyboard18/2025/02/WhatsApp-Image-2025-02-01-at-15.10.08-2025-02-fac37699f21d62693213cb281f757482.jpeg" alt="" width="1600" height="603" />

CNBC-AWAAZ’s in-depth coverage is complemented by an exceptional panel of experts from the world of finance, investment, and economy, ensuring viewers gain the most comprehensive insights. The channel’s programming is driven by a dedicated team of reporters, researchers, and anchors, led by Anuj Singhal, Managing Editor, CNBC-AWAAZ.

<strong>Read More:</strong> <a href="https://www.storyboard18.com/brand-marketing/cnbc-tv18-cnbc-awaaz-cnbc-bajar-announce-strategic-partnership-with-motilal-oswal-debuting-with-union-budget-2025-55190.htm">CNBC-TV18, CNBC-AWAAZ &amp; CNBC Bajar announce strategic partnership with Motilal Oswal, debuting with Union Budget 2025</a>

CNBC-AWAAZ dominates Budget coverage with 5 lakh concurrent views on YouTube during FM speech

Today, Finance Minister Nirmala Sitharaman unveiled the Union Budget 2025, setting off a flurry of humorous memes across social media. 

In her opening address, she emphasized the government’s commitment to the "sab ka vikas" vision by promoting balanced growth across all regions. Among her key announcements were a series of new schemes for Bihar and revisions to the tax slabs and rates aimed at easing the burden on taxpayers.

<strong>Read more:</strong> <a href="https://www.storyboard18.com/special-coverage/budget-2025-fm-nirmala-sitharaman-says-our-economy-is-fastest-growing-among-major-economies-55237.htm">Budget 2025 Big Takeaways: Relief for middle class. No income tax payable up to Rs 12 lakh, says FM Sitharaman</a>

The budget announcement sparked a lively online reaction, with netizens launching a full-blown meme fest.

Let's look at some of the most out-standing ones!

<img src="https://images.storyboard18.com/storyboard18/2025/02/Happydent-2025-02-da298f95fc065390efabc302a7e9afee-1024x576.png" alt="" width="750" height="422" class="alignnone size-large wp-image-55348" />

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Most repeated words. <a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a> <a href="https://t.co/4pjtahNdks">pic.twitter.com/4pjtahNdks</a></p>&mdash; Sagar (@sagarcasm) <a href="https://twitter.com/sagarcasm/status/1885572268828639415?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">aaj breakfast mein bihar special litti hai ? <a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a> <a href="https://t.co/r4FcRniyCO">pic.twitter.com/r4FcRniyCO</a></p>&mdash; Swiggy Food (@Swiggy) <a href="https://twitter.com/Swiggy/status/1885578196521013641?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Just a reminder that there is 0% tax on being a green flag <br><br> <a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a></p>&mdash; Tinder India (@Tinder_India) <a href="https://twitter.com/Tinder_India/status/1885576876342849553?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="in" dir="ltr">ab humko chahiye full izzat <a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a> <a href="https://t.co/uRTk2x1kbQ">pic.twitter.com/uRTk2x1kbQ</a></p>&mdash; Zepto (@ZeptoNow) <a href="https://twitter.com/ZeptoNow/status/1885576704136991174?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Dear citizens, you have been exempted from sleepless nights under the Wakefit slab ?<a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a></p>&mdash; Wakefit (@WakefitCo) <a href="https://twitter.com/WakefitCo/status/1885562432917299679?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">No income tax upto 12L? Which means jo salary katne wali thi, usse ab hum shopping kar sakte hain ??<a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a> <a href="https://twitter.com/hashtag/UnionBudget?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget</a></p>&mdash; Flipkart (@Flipkart) <a href="https://twitter.com/Flipkart/status/1885588709812138152?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="tl" dir="ltr">Mujhe kya peanuts pe toh pehle bhi tax nahi lagta tha ?<a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a></p>&mdash; Swiggy Instamart (@SwiggyInstamart) <a href="https://twitter.com/SwiggyInstamart/status/1885591825530184153?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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<blockquote class="twitter-tweet"><p lang="qme" dir="ltr"><a href="https://twitter.com/hashtag/BudgetSession2025?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetSession2025</a> <a href="https://twitter.com/hashtag/NirmalaSitharaman?src=hash&amp;ref_src=twsrc%5Etfw">#NirmalaSitharaman</a> <a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a> <a href="https://twitter.com/hashtag/IncomeTax?src=hash&amp;ref_src=twsrc%5Etfw">#IncomeTax</a> <a href="https://t.co/Q9LfAaHFs7">pic.twitter.com/Q9LfAaHFs7</a></p>&mdash; Chhichhaledar (@chhichhaledar) <a href="https://twitter.com/chhichhaledar/status/1885581474331500576?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>



Budget 2025 Memes: Internet and brands react to FM’s big budget announcements with hilarious memes

To boost employment in the country, Union Finance Minister Nirmala Sitharaman on Saturday made several announcements on skilling and job creation across sectors. The FM announced the 'National Manufacturing Mission' that will focus on a future-ready workforce for in-demand jobs. The FM outlined measures for Labour-Intensive sectors, to promote employment and entrepreneurship opportunities. Referring to the footwear and leather sector, the Union Finance Minister said that a focus-product scheme would facilitate employment for 22 lakh persons and generate a turnover of Rs 4 lakh crore.

FM further proposed the National Action Plan for toys and the National Institute of Food Technology, Entrepreneurship and Management in Bihar to provide a strong fillip to entrepreneurship and employment for youth in toy manufacturing and food production.

According to Dhriti Prasanna Mahanta, Vice-President, TeamLease Degree Apprenticeship, "The Union Budget 2025-26 lays the foundation for a future-ready workforce and an inclusive growth story, aligning with the vision of Amrit Kaal".

<a href="https://www.storyboard18.com/brand-makers/consumption-is-word-of-the-day-anupam-mittal-radhika-gupta-react-to-budget-2025-55321.htm">Consumption is word of the day: Anupam Mittal, Radhika Gupta react to Budget 2025</a>

The FM also announced five national centres of excellence for skilling that will be set up with global expertise and partnerships.

"The establishment of National Centres of Excellence for Skilling, alongside global partnerships, will be instrumental in shaping a future-ready workforce, particularly in AI, 5G, and 6G," Priyanka Anand, VP & Head HR, Southeast Asia Oceania and India, Ericsson said.

<a href="https://www.storyboard18.com/how-it-works/what-gets-cheaper-after-budget-2025-55309.htm">What gets cheaper after Budget 2025?</a>

The Budget also identified tourism as a sector for employment-led growth. FM Sitharaman said that facilitating employment-led growth includes organizing intensive skill-development programmes for youth including hospitality management, MUDRA loans for homestays, improving ease of travel and connectivity to tourist destinations, introducing streamlined e-visa facilities, and providing performance-linked incentives to states.

She said that the top 50 tourist destination sites in the country will be developed in partnership with states through a challenge mode. 

<a href="https://www.storyboard18.com/brand-makers/budget-2025-fm-announces-rs-10000-crore-fund-of-funds-to-support-indian-startups-entrepreneurship-55295.htm">Budget 2025: FM announces Rs 10,000 crore Fund of Funds to support Indian startups, entrepreneurship</a>

"As India aspires to become the Skill Capital of the World, the focus on enhancing employability and bridging the skills gap is more crucial than ever. The Union Budget 2025 reinforces this commitment by prioritizing investments in education and workforce development, particularly in high-impact sectors like AI, healthcare, and digital innovation. Initiatives such as the establishment of National Centres of Excellence for Skilling, Atal Tinkering Labs in government schools, and Centres of Excellence on AI for Education reflect a forward-looking approach to preparing an industry-ready workforce,"  Rahul Goyal, Managing Director, ADP India and Southeast Asia said.

<a href="https://www.storyboard18.com/brand-makers/union-budget-2025-fm-announces-new-makhana-board-in-bihar-to-empower-farmers-55252.htm">Union Budget 2025: FM announces new Makhana Board in Bihar to empower farmers</a>

Budget 2025: FM unveils plan to boost employment, focus on skilling, job creation

In a bid to energize domestic demand and ease the fiscal burden on millions of citizens, Finance Minister Nirmala Sitharaman today unveiled a series of transformative tax reforms in Budget 2025.

Under the new income tax regime, no tax will be payable on earnings up to Rs 12 lakh—a substantial increase from the previous threshold of Rs 7 lakh. 

This move means that resident Indian taxpayers, particularly salaried professionals earning up to Rs 12.75 lakh, will enjoy a significant exemption from income tax, thereby increasing disposable income for a vast section of the middle class.

<strong>Read more:</strong> <a href="https://www.storyboard18.com/how-it-works/what-gets-cheaper-after-budget-2025-55309.htm">What gets cheaper after Budget 2025?</a>

This reform has ignited a wave of positive reactions on social media from key industry figures.

Radhika Gupta, Managing Director & CEO of Edelweiss Mutual Fund, said, "CONSUMPTION is the word of the day! Heard a lot of chatter in the morning about what could possibly be done in the budget given the economic backdrop and global turmoil. I think it's a budget that addresses the needs of the here and now - putting money into the hands of people to go out and consume. And 7.5 to 12L as exemption is a bold, not incremental move. Well done!"

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Anupam Mittal, Founder & CEO at People Group, offered a more expansive view of the implications of the reform. 

In his social media post, Mittal stated, "For years, middle-class professionals have been India’s punching bag. Taxed at every turn, squeezed for every rupee, while the ultra-rich found loopholes and businesses got tax breaks," he observed. 

Mittal lauded Budget 2025 as a "systemic correction, not just a tax cut," drawing historical parallels with post-WWII America and 2000s China—eras when boosting the middle class led to broad-based economic expansion. 

"More disposable income = More consumption = More economic growth. You don’t build an economy by making people feel gareeb. You build it by making them wealthier," he added.

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<strong>Read more:</strong> <a href="https://www.storyboard18.com/special-coverage/budget-2025-fm-nirmala-sitharaman-says-our-economy-is-fastest-growing-among-major-economies-55237.htm">Budget 2025 Big Takeaways: Relief for middle class. No income tax payable up to Rs 12 lakh, says FM Sitharaman</a>

Consumption is word of the day: Anupam Mittal, Radhika Gupta react to Budget 2025

In a bid to boost the agricultural and health food sectors, India's top financial authorities have turned their attention to makhana—commonly known as foxnuts. 

Recently, Zerodha co-founder Nikhil Kamath took to social media to praise makhana, emphasizing its potential to become the nation’s next superfood. 

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Maybe room here to build a really large brand, an Indian brand that sells to the world.<br><br>Personally, I&#39;m hooked on Makhana. <a href="https://t.co/eu5yK804Ny">pic.twitter.com/eu5yK804Ny</a></p>&mdash; Nikhil Kamath (@nikhilkamathcio) <a href="https://twitter.com/nikhilkamathcio/status/1880128509366137040?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Kamath highlighted the nutrient-dense profile of these tiny seeds, suggesting that their rising popularity could pave the way for a major health food brand in a market that is increasingly health-conscious.

<strong>Budget 2025</strong> 

On Saturday, Union Finance Minister Nirmala Sitharaman made a landmark announcement as part of the Union Budget 2025.

She revealed that a Makhana Board will be set up in Bihar, a decision aimed at enhancing both the production, processing, value addition and marketing of makhana. 

<strong>Read more:</strong> <a href="https://www.storyboard18.com/brand-makers/union-budget-2025-fm-announces-new-makhana-board-in-bihar-to-empower-farmers-55252.htm">Union Budget 2025: FM announces new Makhana Board in Bihar to empower farmers</a>

According to FM Sitharaman, the board will serve as a cornerstone for modernizing agricultural practices by integrating advanced technologies. 

This initiative is one among several development measures outlined in the budget, which also targets the upliftment of the poor, youth, farmers, and women across India.

<strong>Why Makhana Matters</strong>

Makhana's appeals lies not only in its culinary versatility but also in its impressive nutritional profile. Rich in essential nutrients such as fiber, protein, magnesium, calcium, potassium, phosphorus, zinc, and iron, makhana offers a unique combination of health benefits.

Research indicates that regular consumption of makhana can support heart health by lowering cholesterol levels and regulating blood pressure, thanks to its potassium and magnesium content. 

Furthermore, its array of flavonoids and alkaloids also contributes to anti-inflammatory and anti-cancer properties, while its natural anti-aging enzymes and kidney-cleansing attributes further cement its status as a superfood.

Echoing the sentiment, Akash Sharma, co-founder of Farmley, says, "India is at the cusp of a healthy snacking revolution, and makhanas form a pivotal part of the same. As a driving force of healthy snacking with a range of makhanas and makhana-based snacks, we welcome the establishment of a Makhana Board in Bihar as a transformative step in India's healthy snacking revolution."

"This superfood from our motherland is now positioned to make its mark on the global health food landscape. The Board's formation will streamline the entire value chain - from production and processing to value addition and marketing of fox nuts. For farmers engaged in makhana cultivation, this initiative opens doors to skill development and institutional support, creating a win-win ecosystem for both agricultural communities," he further added.

<strong>Social media reactions</strong>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">More people will want their children to be born in Bihar than in USA after this Budget ???<a href="https://twitter.com/hashtag/FI?src=hash&amp;ref_src=twsrc%5Etfw">#FI</a></p>&mdash; Fundamental Investor ™ ?? (@FI_InvestIndia) <a href="https://twitter.com/FI_InvestIndia/status/1885568745898467485?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">With focus on Makhana in Budget 2025, PVR can now plan to sell Makhana at ₹300 in their Theatres ?</p>&mdash; Jayesh Thakkar (SEBI Registered RA) (@intradaygeeks) <a href="https://twitter.com/intradaygeeks/status/1885564597412770152?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="tl" dir="ltr">Big push to India&#39;s native superfood Makhana in <a href="https://twitter.com/hashtag/Budget?src=hash&amp;ref_src=twsrc%5Etfw">#Budget</a> 2025!</p>&mdash; Deepsekhar Choudhury (@deepsekharc) <a href="https://twitter.com/deepsekharc/status/1885564574314688714?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="in" dir="ltr"><a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a> <a href="https://twitter.com/hashtag/makhana?src=hash&amp;ref_src=twsrc%5Etfw">#makhana</a> <br>Oye Makhana! <a href="https://t.co/iWilFCPZXC">pic.twitter.com/iWilFCPZXC</a></p>&mdash; Trading With Mind (@apoorvsinghasr) <a href="https://twitter.com/apoorvsinghasr/status/1885598713126551882?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Nikhil Kamath bets on Makhana, now FM gives the superfood a boost; reactions galore

The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, brought several new changes that could lighten the financial burden for both consumers and industries. Sitharaman had proposed customs rate reductions on a number of commodities, including cell phones, chargers and some cancer medications, in his Budget 2024 speech. Additionally, Sitharaman had suggested lowering the customs taxes on platinum to 6.4% and gold and silver to 6%. She also suggested eliminating blister copper and ferronickel's basic customs charge (BCD).

Here’s a quick rundown of the key items that will become more affordable after the budget announcement:

<strong>1. Cancer & Chronic Disease Medicines</strong>
   Good news for patients as 36 life-saving drugs will now be fully exempt from basic customs duties, making essential cancer and chronic disease treatments more affordable.

<strong>2. Electronic Goods</strong>
   Cheaper electronic components as Basic Customs Duty (BCD) on open cells and other components used in electronics will be reduced to 5%, making electronic goods more affordable to both manufacturers and consumers.

<strong>3. Minerals</strong>
   Lower costs for crucial minerals as BCD will be exempted for cobalt powder, waste and scrap of lithium-ion batteries, lead, zinc, and 12 other critical minerals. This is great for industries relying on these materials, potentially lowering production costs.

<strong>4. Electric Vehicles (EVs)</strong>
   Boost for EV sector as the Budget 2025 proposes to exempt 35 additional goods for EV battery manufacturing and 28 goods for mobile phone battery manufacturing from basic customs duties. This will make EV manufacturing more affordable and help in accelerating the EV revolution.

<strong>5. Leather Goods</strong>
   Cost reduction for leather products as wet blue leather will now be fully exempt from Basic Customs Duty. This could make leather goods more affordable for both consumers and manufacturers.

<strong>6. Surimi (Frozen Fish Paste)</strong>
   Cheaper Surimi as the BCD on frozen fish paste (surimi) will be reduced from 30% to 5%, which will benefit the manufacture and export of surimi-based products, likely bringing down prices for consumers.

<strong>7. Handicrafts</strong>
   Increased exports as the export period for handicrafts has been extended from six months to one year, and nine items have been added to the list of duty-free inputs. This will benefit handicraft exports and may make such products more affordable on the international market.

<strong>8. Textile Machinery</strong>
   Cheaper textile machinery as two types of shuttle-less looms have been added to the list of fully exempted machinery, making it easier and cheaper to produce technical textile products like agro-textiles, medical textiles, and geo textiles.

<strong>9. Knitted Fabrics</strong>
   Fabrics at lower prices as the BCD rate on knitted fabrics has been revised to “20% or 115 per kg, whichever is higher”, which will likely reduce the cost of production for textiles and promote affordable domestic production.

These measures in the Union Budget 2025 are set to make a range of products more affordable, benefiting both industries and consumers across various sectors.

UNION BUDGET 2025