Union Budget 2025-26: A Catalyst for Stainless Steel Growth

The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, emphasizes infrastructure, manufacturing, and sustainability, promoting growth in the stainless steel sector. Industry leaders commend the budget for its capacity to enhance economic contribution and innovation, with infrastructure investment, digital skilling, and entreperneurial support as key highlights.

The Union Budget 2025-26 has been lauded by the stainless steel industry, drawing attention to its concentration on infrastructure, manufacturing, and sustainability as vital for the sector's growth. The Indian Stainless Steel Development Association (ISSDA) praised the balanced roadmap laid out for long-term growth.

Finance Minister Nirmala Sitharaman, in her eighth Budget presentation, earmarked significant funding for infrastructure, including a 10.08% increase in capital expenditure, boosting India's position in global stainless steel production. The Rs 10 lakh crore Asset Monetization Plan aims to unlock resources for new projects.

The Budget also focuses on digital skilling initiatives for youth, aligning with Industry 4.0, and introduces new credit facilities to foster entrepreneurship. Other measures like increasing scrap availability through shipbreaking enhancement are expected to reinforce raw-material security and cost-competitiveness as remarked by industry leaders.

(With inputs from agencies.)