On Saturday, February 1, 2025, Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2025-26, marking a pivotal moment in India’s economic landscape.

As part of the government’s vision to boost domestic manufacturing and reduce import dependence, Sitharaman announced a new scheme aimed at transforming India into a global hub for toy manufacturing. 

The initiative will build upon the National Action Plan for Toys, focusing on the development of specialised clusters, skill enhancement, and a robust manufacturing ecosystem. The scheme emphasises high-quality, innovative, and sustainable toy production under the Made in India brand.

A key feature of this initiative will be the establishment of special clusters dedicated to toy manufacturing, designed to provide advanced training, support small-scale enterprises, and encourage indigenous production. 

By promoting sustainable practices, the government seeks to position India as a leader in eco-friendly toy manufacturing, catering to both domestic and international markets.

The budget was focused on growth, sustainability, and fiscal discipline, further aiming to align with the projection of India’s economy growing from 6.3% to 6.8% in the financial year 2026 and prioritising skill development, digital infrastructure, and innovation to bring a change in the Indian academic landscape.

India's first full-time female Finance Minister, Nirmala Sitharaman, previously presented six Union Budgets and one Interim Budget between 2019 and 2024. Today, she presented her eighth budget.