Budget Offers a Lot to Delhi Voters to Cheer About
The Narendra Modi government on Saturday adhered to the Election Commission of India's directive not to announce any Delhi-specific schemes or sops in the Union Budget 2025-26 yet managed to provide the city's voters with several reasons to celebrate.
New Delhi: The Narendra Modi government on Saturday adhered to the Election Commission of India’s directive not to announce any Delhi-specific schemes or sops in the Union Budget 2025-26 yet managed to provide the city’s voters with several reasons to celebrate.
Apart from the tax exemptions for the middle class, which will benefit Delhiites along with citizens across India, numerous Central schemes are expected to indirectly benefit city residents, especially slum dwellers and those living in unauthorised colonies that require better infrastructure.
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In her eighth consecutive Budget speech, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman announced several initiatives for street vendors, gig workers, middle-class homebuyers struggling with stalled housing projects, and the urban poor, particularly those living in informal settlements needing improved infrastructure and governance.
PM SVANidhi Scheme Extended for Street Vendors in Delhi
The PM SVANidhi scheme, which has already benefitted over 68 lakh street vendors by offering relief from high-interest informal sector loans, will continue to aid Delhi vendors, many of whom belong to Purvanchal and reside in slums or unauthorised colonies.
Finance Minister Sitharaman unveiled a revamped version of the scheme – PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) – which will provide enhanced loans from banks, UPI-linked credit cards, and capacity-building support.
SWAMIH Fund to Complete Stalled Housing Projects
For middle-class Delhiites, particularly those paying EMIs for flats in stressed housing projects, the Budget announced a new fund aimed at expediting the completion of delayed projects.
The finance minister highlighted the success of the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund, which has already helped complete 50,000 dwelling units in stressed housing projects. An additional 40,000 units will be completed in 2025.
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Building on this success, SWAMIH Fund 2, a Rs 15,000 crore blended finance facility, will be established to expedite the completion of 1 lakh more units, potentially bringing relief to Delhi residents looking to move into their homes in the NCR region.
Gig Workers to Receive Healthcare and Benefits
In line with promises made by PM Modi in his election rallies in Delhi, gig workers are set to receive several benefits. Finance Minister Sitharaman announced that gig workers would receive identity cards, registration on the e-Shram portal, and healthcare coverage under the PM Jan Arogya Yojana, which is expected to benefit nearly 1 crore gig workers nationwide.
Urban Infrastructure Boost for Slum Dwellers and Unauthorized Colonies
Delhi’s slum dwellers and residents of unauthorised colonies are also expected to benefit from a provision to boost urban infrastructure. Finance Minister Sitharaman introduced an Urban Challenge Fund of Rs 1 lakh crore to fund initiatives under the ‘Cities as Growth Hubs,’ ‘Creative Redevelopment of Cities,’ and ‘Water and Sanitation’ proposals announced in the July Budget.
This fund is likely to support projects such as the Yamuna riverfront development, expanded tap water supply, sewer laying, and the construction of pucca houses for slum dwellers in Delhi.
