Efforts to increase awareness are further supported by institutions such as NABARD, NCFE, the National Rural Livelihood Mission, and State Rural Livelihood Missions. Digital channels like internet banking, mobile apps, and bank portals have simplified online onboarding for subscribers. The scheme is implemented through the Department of Posts and a broad network of banks—including public sector, private, regional rural, small finance, and cooperative banks—registered as Points of Presence under PFRDA. Additionally, nationwide financial inclusion drives in partnership with banks and banking committees aim to promote pension saturation, ensuring broader coverage and benefits for Indian citizens.

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In the healthcare sector, the council approved the exemption of GST on all individual life insurance policies, including term life, ULIPs, endowment plans, and health insurance policies for families and senior citizens. GST on 33 life-saving drugs and medicines has been reduced from 12% to nil, and from 5% to nil on three critical drugs used for cancer and rare diseases. Medical apparatus and devices used for surgical, dental, or veterinary purposes have seen their GST reduced from 18% to 5%. Furthermore, GST on various electronic appliances such as TVs, air-conditioners, and small vehicles has been lowered to 18% from 28%, benefiting consumers and industry alike. GST on agricultural equipment has also been cut from 12% to 5%, supporting farmers and the agriculture sector.

The GST Council’s decisions are part of a broader effort to streamline tax reforms, enhance compliance, and promote economic growth. The council, chaired by Finance Minister Sitharaman, also reduced the number of GST slabs from four to two, eliminating the 12% and 28% rates to create a simpler, more predictable tax structure. The rationalisation is expected to generate a revenue impact of around 48,000 crore rupees, deemed fiscally sustainable for both the Centre and states. The 56th meeting, held in New Delhi with participation from various Union and State officials, focused on next-generation GST reforms, including rate simplification and measures to enhance transparency and stability in the tax regime.

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The two-day flagship event, themed “From Ideation to Incorporation,” aims to strengthen the startup and entrepreneurial ecosystem across the North East by fostering innovation, incubation, institutional partnerships, and access to capital.

The inaugural session was attended by Meghalaya Chief Minister Conrad K Sangma, Chief Secretary D P Wahlang, Secretary of the Ministry of Corporate Affairs Deepti Gaur Mukerjee, and IICA Director General and CEO Gyaneshwar Kumar Singh.

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https://www.youtube.com/watch?v=A_0RKVMx3og

New Delhi | Feb 1, 2025 : 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 three 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 & 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.”

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.

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India’s real GDP growth for FY25 is estimated at 6.4%, aligning with the country’s decadal average, with real gross value added (GVA) projected to grow at the same rate. The global economy recorded a growth rate of 3.3% in 2023, with the IMF projecting an average growth of 3.2% over the next five years. Looking ahead, India’s GDP growth for FY26 is expected to be in the range of 6.3% to 6.8%, depending on economic conditions and external factors.

In the monetary and financial sector, India witnessed sustained bank credit growth, with credit expansion aligning closely with deposit growth. The profitability of Scheduled Commercial Banks improved, driven by a decline in gross non-performing assets (GNPAs) and a rise in the capital to risk-weighted asset ratio (CRAR). Notably, credit growth outpaced nominal GDP growth for two consecutive years, with the credit-GDP gap narrowing to (-) 0.3% in Q1 FY25 from (-) 10.3% in Q1 FY23, signaling sustainable bank credit expansion.

The external sector remained strong, demonstrating resilience amid global challenges. Total exports, including merchandise and services, grew by 6% year-on-year in the first nine months of FY25, with the services sector alone growing at 11.6%. India now holds a 10.2% share in global exports of telecommunications, computer, and information services, ranking as the second-largest exporter in this category. The current account deficit (CAD) stood at 1.2% of GDP in Q2 FY25, supported by increased net services receipts and private transfers. Foreign Direct Investment (FDI) inflows showed a strong revival, rising from USD 47.2 billion in the first eight months of FY24 to USD 55.6 billion in FY25, marking a 17.9% YoY growth. Additionally, FOREX reserves reached USD 640.3 billion by December 2024, covering 10.9 months of imports and 90% of India’s external debt.

India’s medium-term outlook presents both challenges and opportunities, with global economic realignments shaping future policies. To achieve the vision of Viksit Bharat by 2047, the country needs to sustain an average growth rate of 8% at constant prices for the next two decades. Government policies are increasingly focusing on investment, infrastructure development, and deregulation to drive economic expansion.

Public spending on infrastructure has been a key priority, with capital expenditure on critical sectors growing at 38.8% from FY20 to FY24. Significant developments in railway connectivity include the commissioning of 2,031 km of new railway lines between April and November 2024, along with the introduction of 17 new pairs of Vande Bharat trains between April and October 2024.

The industrial sector is expected to grow by 6.2% in FY25, primarily driven by growth in electricity and construction. The government continues to promote Smart Manufacturing and Industry 4.0, supporting initiatives like SAMARTH Udyog centres to modernize production processes. Meanwhile, the automobile sector saw robust domestic sales growth of 12.5% in FY24.

The services sector remains a crucial driver of India’s economic expansion, with its contribution to total GVA rising from 50.6% in FY14 to 55.3% in FY25. The sector recorded an 8.3% growth rate in the post-pandemic period (FY23–FY25), slightly surpassing its 8% pre-pandemic average (FY13–FY20). India continues to strengthen its position in global trade, ranking seventh in global services exports with a 4.3% market share in 2023.

With steady economic growth, increasing investments, and a strong external sector, India remains well-positioned to navigate global economic challenges and maintain its growth trajectory in the years ahead.

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The EPS-95 NAC members have been protesting to press for their demand of Rs 7,500 as a monthly pension instead of an average monthly pension of only Rs 1,450 at present.

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The Union Budget 2024-25, which resonates with the spirit of ‘Viksit Bharat,’ emphasizes inclusive growth with a focus on Mahilayen, Garib, Yuva, and Annadata. This budget is significantly influenced by the impact of the Lok Sabha elections, which re-elected PM Narendra Modi for a historic third term. The election message for the BJP is writ large on the first budget of Modi 3.0: that their parliamentary seats have decreased, and there are upcoming assembly elections in three states. Setting a robust roadmap for India’s development, the budget, tabled by Finance Minister Nirmala Sitharama, outlines nine critical priorities, each designed to augment growth, inclusivity, and resilience.

By leveraging these opportunities, Public Relations (PR) professionals can play a vital role in amplifying the impact of the government’s initiatives, benefiting all stakeholders, including Sarkar and Aaam Aadami. PR experts and communication strategists can shape public perception of the budget agenda, the blueprints of ministries, and their initiatives. To effectively disseminate messages, government entities can harness the power of events and publicity.

Here, are nine priorities outlined in the budget and the myriad ways in which PR can amplify their implementation and extend their reach.

1. Productivity and Resilience in Agriculture

Opportunities:

· Allocation of ₹1.52 lakh crore to agriculture and allied sectors.

· Introduction of 109 new high-yielding and climate-resilient varieties across 32 field and horticulture crops.

· Enrollment of 1 crore farmers into natural farming practices, with certification and branding within the next 2 years.

· Establishment of 10,000 need-based bio-input resource centers for natural farming.

· Implementation of Digital Public Infrastructure (DPI) to cover farmers and their lands within 3 years.

Analysis: PR campaigns can effectively spotlight the advantages of digital crop surveys and farmer registries by sharing success stories of farmers who have embraced these innovations. By creating educational content and targeted communications, PR agencies can enhance farmers’ understanding of DPI’s benefits, building trust and encouraging adoption. Hosting workshops and webinars can further facilitate the transfer of knowledge, enabling farmers to implement new practices efficiently.

2. Employment and Skilling

Opportunities:

Implementation of three schemes under the Prime Minister’s package for ‘Employment Linked Incentives’:

· Scheme A: First Timers – providing wage support to new employees.

· Scheme B: Job Creation in Manufacturing – offering incentives to create new jobs.

· Scheme C: Support to Employers – financial assistance to employers for additional hires.

· Establishment of working women hostels and crèches in collaboration with industries.

· Organization of women-specific skilling programs and promotion of market access for women SHG enterprises.

· Introduction of a new centrally sponsored skilling scheme under the Prime Minister’s Package to benefit 20 lakh youth over the next 5 years.

· Revision of the Model Skill Loan Scheme to offer loans up to ₹7.5 lakh.

· Provision of financial support for loans up to ₹10 lakh for higher education in domestic institutions for youth who have not previously benefited from government schemes.

Analysis: PR campaigns can effectively highlight the advantages of these employment and skilling schemes by showcasing success stories of first-time employees and employers who have benefited from these initiatives. Emphasizing the impact of direct benefit transfers and additional job opportunities can drive greater participation. Leveraging social media and forging partnerships with educational institutions can amplify these messages, ensuring they reach and resonate with the target audience. Additionally, campaigns can focus on the positive outcomes of the women-specific programs and support for higher education, reinforcing the government’s commitment to inclusive growth.

3. Inclusive Human Resource Development and Social Justice

Opportunity: The government’s focus on all-round development and social justice creates numerous PR opportunities to promote inclusivity.

· Purvodaya: Development initiatives aimed at Eastern India.

· Andhra Pradesh Reorganization Act: Addressing the unique needs of the newly reorganized state.

· Women-led Development: Programs to empower women across various sectors.

· Pradhan Mantri Janjatiya Unnat Gram Abhiyan: Enhancing the quality of life in tribal areas.

· Expansion of Bank Branches in the North-Eastern Region: Increasing financial inclusion.

Analysis: PR agencies play a crucial role in highlighting the government’s dedication to supporting marginalized communities through these initiatives. Campaigns can spotlight the transformative effects of schemes such as PM Vishwakarma, PM SVANidhi, and Stand-Up India, fostering empowerment and engagement among beneficiaries. By partnering with NGOs and community organizations, PR agencies can amplify these messages, ensuring they effectively reach and resonate with the target audience. This strategic approach not only raises awareness but also enhances the overall impact of these development programs, driving positive change and fostering a sense of inclusion and support among diverse communities.

4. Manufacturing and Services

Opportunity: Special attention to MSMEs and labour-intensive manufacturing highlights the budget’s focus on industrial growth. The comprehensive package for MSMEs, including financing, regulatory changes, and technology support, aims to boost their global competitiveness. Schemes like the Credit Guarantee Scheme and Mudra Loans are designed to facilitate easier access to credit for MSMEs, fostering entrepreneurship and innovation. This focus on manufacturing is expected to drive job creation and economic diversification.

It presents a significant opportunity for PR professionals.

Analysis: PR campaigns can showcase the government’s initiatives to support MSMEs through financial packages, regulatory changes, and technology support. Highlighting stories of MSMEs that have successfully leveraged these initiatives can inspire other businesses to follow suit. PR agencies can also create content that educates MSMEs about the available support, helping them navigate the complexities of accessing these benefits.

5. Urban Development

Opportunity: The PM Awas Yojana Urban 2.0 addresses the housing needs of urban poor and middle-class families with a substantial investment of Rs 10 lakh crore. The provision of affordable loans and interest subsidies ensures accessible housing solutions. Additionally, the promotion of water supply, sewage treatment, and solid waste management in 100 large cities enhances urban infrastructure. By developing ‘Cities as Growth Hubs’, the government aims to create sustainable urban ecosystems that can drive economic growth and improve living standards.

It provides a rich ground for PR campaigns focused on sustainable urban living.

Analysis: PR agencies can craft narratives that emphasize the transformative impact of these housing and urban development projects. Success stories of families benefiting from affordable housing can be highlighted to showcase the government’s commitment to improving urban living conditions. Additionally, PR campaigns can promote the benefits of sustainable urban infrastructure projects, encouraging public participation and support.

6. Energy Security

Opportunity: The PM Surya Ghar Muft Bijli Yojana is a transformative step towards achieving energy security. The installation of rooftop solar plants for 1 crore households, providing free electricity up to 300 units per month, not only reduces energy costs but also promotes sustainable energy consumption. This initiative aligns with India’s renewable energy goals and addresses environmental sustainability. The budget’s focus on energy transition pathways balances the imperatives of employment, growth, and environmental sustainability.

It offers a unique opportunity for PR professionals to promote renewable energy initiatives.

Analysis: PR campaigns can focus on the environmental and economic benefits of rooftop solar plants, encouraging more households to participate in the scheme. Highlighting success stories and testimonials from households that have benefited from free electricity can create a positive buzz. Educational content about the long-term savings and environmental impact of solar energy can further enhance public awareness and participation.

7. Infrastructure

Opportunity: The allocation of Rs 11,11,111 crore for capital expenditure underscores the government’s commitment to infrastructure development. This substantial investment is expected to have a multiplier effect on the economy, driving growth and job creation. The provision of Rs 1.5 lakh crore for interest-free loans to states encourages them to prioritize infrastructure development. By maintaining strong fiscal support for infrastructure, the government aims to build a robust foundation for sustained economic growth.

The substantial investment in infrastructure provides a platform for PR campaigns that emphasize economic growth and development.

Analysis: PR agencies can create narratives that highlight the multiplier effect of infrastructure investments on the economy. Success stories of regions that have benefited from improved infrastructure can be showcased to illustrate the tangible benefits of these projects. PR campaigns can also promote the importance of state-level support and collaboration, encouraging states to prioritize infrastructure development.

8. Innovation, Research & Development

Opportunity: The operationalization of the Anusandhan National Research Fund and the establishment of a private sector-driven research mechanism signify the government’s dedication to innovation. The Rs 1 lakh crore financing pool for research and development aims to spur technological advancements and commercialization. The venture capital fund for expanding the space economy further demonstrates India’s ambition to be at the forefront of cutting-edge technologies. These initiatives are critical for maintaining a culture of innovation and maintaining global competitiveness.

The operationalization of the Anusandhan National Research Fund and private sector-driven research initiatives offer significant PR opportunities.

Analysis: PR campaigns can highlight the government’s commitment to fostering innovation and technological advancements. Stories of successful research projects and technological innovations can inspire further participation from the private sector. PR agencies can also promote the benefits of the venture capital fund for the space economy, positioning India as a leader in space research and development.

9. Next Generation Reforms

Opportunity: The formulation of an Economic Policy Framework for next-generation reforms reflects the government’s forward-thinking approach. By improving productivity and efficiency across factors of production—land, labour, capital, and entrepreneurship—the budget sets the stage for sustainable economic growth. The emphasis on technology as an enabler and the collaboration between the Centre and states highlight the importance of competitive federalism. These reforms aim to create a conducive environment for business, drive investment, and ensure long-term economic stability.

The government’s focus on next-generation reforms offers a platform for PR campaigns that emphasize economic modernization and productivity.

Analysis: PR agencies can craft narratives that explain the importance of reforms in improving productivity and market efficiency. Success stories of businesses and regions that have benefited from these reforms can be highlighted to illustrate their impact. Educational content about the long-term benefits of these reforms can help build public support and understanding.

In nutshell, the Union Budget 2024-25 provides numerous opportunities for PR agencies to play a pivotal role in promoting and enhancing the impact of the government’s initiatives. By building persuasive narratives, highlighting success stories, and educating the public, PR professionals can help ensure that these initiatives reach their full potential, facilitating more informed and supportive populace that will drive India towards its goal of becoming a developed nation.

Ramakant Chaudhary is senior journalist and currently working with PRP Group as Content Head. He has worked in various editorial roles with Financial Express, Mint (Hindustan Times Group), The Times Of India, Jagran Post (Dainik Jagran Group), The Pioneer, and The Political and Business Daily. He writes going beyond headlines on: politics, government policy, economy, infrastructure, real estate, education, social issues, lifestyle, and health.

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FM on Fuel Tax: There is news of work for people troubled by the rising inflation of petrol and diesel. Finance Minister Nirmala Sitharaman has made a big announcement on fuel. The Finance Minister has said that the government will now review the new tax imposed on crude oil, diesel-petrol and aviation fuel (ATF) every 15 days. In fact, keeping in mind the international prices, the taxes will be reviewed every fortnight by the government.

Finance Minister said a big thing

Finance Minister Sitharaman said during the conversation that this is a difficult time and global oil prices have become uncontrollable. “We don’t want to discourage exports but want to increase its availability domestically,” he said.

Export tax on petrol, diesel and aviation turbine fuel

The government on Friday also announced a tax on the export of petrol, diesel and aviation turbine fuel (ATF). This new rule has come into effect from today i.e. July 1.

Tax on locally produced oil

Along with this, it was also announced to impose a tax on locally produced crude oil like Britain. Domestically produced crude oil has been taxed at Rs 23,250 per tonne. Revenue Secretary Tarun Bajaj said the new tax will also apply to SEZ units but there will be no restriction on their exports. At the same time, on the fall of the rupee, the Finance Minister said that the Reserve Bank of India and the government are monitoring the situation. The government is fully conscious of the impact of the rupee’s value on imports.

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