Boost for Industry: Plug and Play Parks Scheme Unveiled in New Budget

Finance Minister Nirmala Sitharaman announces Rs 2,500 for a new scheme aimed at developing plug and play industrial parks in Budget 2025-26. DPIIT sees a 64% increase in allocation, with emphasis on intellectual property, PLI for white goods, and a new national manufacturing mission.

In a significant move for the manufacturing sector, Finance Minister Nirmala Sitharaman has earmarked Rs 2,500 in the Budget 2025-26 for a new scheme focused on plug and play industrial parks.

The scheme is designed to expedite the development of investment-ready industrial parks equipped with comprehensive infrastructure. A notable increase in budget allocation has been seen for the Department for Promotion of Industry and Internal Trade (DPIIT), with a 64% rise to Rs 13,145.06 crore for 2025-26.

Key budgetary hikes include intellectual property endeavors (Rs 321.34 crore), the Footwear, Leather and Accessories Development Programme (Rs 350 crore), and Funds for the Industrial Development of Jammu and Kashmir (Rs 300 crore). Sitharaman also declared a national manufacturing mission to fortify policy support for the Make in India initiative.

(With inputs from agencies.)