The Indian government has announced a series of impactful schemes and policy measures aimed at accelerating economic growth and enhancing the welfare of its citizens. A major highlight is the launch of the Pradhan Mantri Viksit Bharat Rozgar Yojana on August 15, 2025. This significant employment scheme, worth ā¹1 lakh crore, is designed to empower India's youth by providing ā¹15,000 per month to newly employed individuals in the private sector and is projected to create approximately 3.5 crore new job opportunities. The registration portal for this scheme has already gone live, and the Labour Minister has urged both employers and first-time employees to utilize its benefits.
In a move to streamline governance and foster economic expansion, Prime Minister Narendra Modi announced the creation of a dedicated Reform Task Force. This task force is mandated to drive next-generation reforms, accelerate economic growth, reduce bureaucratic hurdles, and modernize governance, with the overarching goal of preparing India for a $10 trillion economy by 2047.
Furthering its commitment to self-reliance and technological advancement, India is now in "mission mode" for semiconductor manufacturing, with the nation's first Made in India chip expected to be rolled out by the end of 2025. The government also plans a tenfold increase in nuclear power generation capacity by 2047, with 10 new reactors currently under construction. To reduce dependence on imported fossil fuels, the National Deepwater Exploration Mission has been launched to tap ocean resources, complementing major expansions in solar, hydrogen, hydro, and nuclear power. The Prime Minister has also challenged Indian scientists and youth to develop indigenous jet engines, akin to the success in vaccine development and digital payments.
Significant reforms are also on the horizon for the Goods and Services Tax (GST), with next-generation reforms anticipated to be unveiled on Diwali. These reforms aim to reduce taxes on essential goods and provide relief to Micro, Small & Medium Enterprises (MSMEs), local vendors, and consumers.
On August 19, 2025, the government announced a temporary waiver of customs duty and Agriculture Infrastructure and Development Cess (AIDC) on raw cotton imports until September 30, 2025. This measure is expected to provide timely relief and boost the competitiveness of the Indian textile sector, which directly employs around 35 million people.
Legislative changes include the introduction of the Jan Vishwas (Amendment of Provisions) Bill, 2025, which seeks to decriminalize minor offenses across 355 provisions in 16 central acts. This bill aims to replace imprisonment with monetary penalties, thereby reducing the burden on courts. Additionally, the Mines and Minerals (Development and Regulation) Amendment Act, 2025, has been enacted to liberalize and modernize the mineral sector, expanding the mandate and funding of the National Mineral Exploration Trust.
To boost exports and strengthen domestic manufacturing, the government continues to implement Production Linked Incentive (PLI) schemes across 14 key sectors. Initiatives like the National Logistics Policy (NLP) and PM Gati Shakti are also enhancing logistical efficiency and reducing costs. Notably, India signed the Comprehensive Economic and Trade Agreement (CETA) with the United Kingdom on July 24, 2025, marking a significant milestone in bilateral trade relations.
Efforts to simplify the registration process for startups have also been enhanced with measures such as the integrated SPICe+ and AGILE PRO-S web forms, zero fees for company incorporation under certain conditions, and the establishment of a Central Registration Centre (CRC).
Furthermore, from August 1, 2025, new financial changes have come into effect, including revised UPI rules that limit balance checks to 50 per day per app and mandate auto-pay transactions during non-peak hours. Trading hours for market repo and Tri-Party Repo (TREP) operations have also been extended.