Government sources have indicated that the forthcoming full Budget will place a significant emphasis on bolstering the manufacturing sector's contribution to India's GDP. Sources told CNBC-TV18 that the government is gearing up for a robust roadmap that includes continued high capital expenditure and a push for infrastructure development.
The government also plans to persist with its efforts to promote the adoption of Digital Public Infrastructures (DPIs) across various sectors. It is also working on a new Production-Linked Incentive (PLI) scheme tailored for sectors such as textiles and leather goods, the sources informed.
In legislative developments, the Centre is planning to introduce a second iteration of the Jan Vishwas Law post the upcoming general elections, alongside potential further decriminalisation of laws.
The sources said the government recently completed a comprehensive study on the cost of regulations nationwide. Details from this study are expected to be shared with states in the coming months. " Reducing the cost of compliances across states will be a major priority area if NDA wins," they said.
Looking ahead, the government is set to unveil the Viksit Bharat Plan post-elections, with the roadmap expected to be articulated in the forthcoming full Budget. This strategic plan, aimed at holistic development, has been the subject of deliberation within the Council of Ministers,
which recently discussed the Viksit Bharat Action Plan on March 3.
During the deliberations, detailed presentations were made on strategies to achieve robust economic growth over the next 25 years. Additionally, all government departments have been tasked with formulating a blueprint for Viksit Bharat within the next four months, underscoring the government's commitment to long-term planning and sustainable development.
