As the central government gears up to tout the Union Budget 2025 on February 1, all eyes are on what Union Finance Minister Nirmala Sitharaman has to bring to the table for the middle class, salaried employees, and entrepreneurs.
The budget session will commence on January 31, with President Droupadi Murmu addressing a joint Parliamentary session of both Lok Sabha and Rajya Sabha.
Here’s what you can expect from budget 2025
The taxpayers across all the sectors of economy are looking forward to tax reforms such as revised income tax slabs, lower GST rates, and various capex allocation announcements.
“We urge policymakers to focus on reforms that make it easier to do business and create a more supportive environment for domestic production. Strategies around import tariffs, fair taxation, and smooth technology transfer can lay the foundation for a robust ecosystem that nurtures local manufacturing. We are particularly hopeful for initiatives that encourage the production of high-quality electronics within the country, helping India move closer to self-reliance and take its rightful place as a global leader in manufacturing”, says Sagar Gupta, Director, Ekkaa Electronics, as quoted by The Indian Express.
Policies to curb air pollution?
As per a report by the outlet, Dikshu C. Kukreja, Managing Principal, CP Kukreja Architects, opines that policies to curb air pollution should feature in the budget 2025.
“One of the key objectives of urban development plans must be to address air pollution. To address this issue, large investments are necessary; after all, what does a Viksit Bharat look like if its citizens are compelled to breathe poisonous air all the time? The problem of waste management is equally urgent, since cities are becoming more and more like enormous landfills. In order to revitalize metropolitan areas and protect public health, adequate and targeted investment is essential”, Kukreja says.
Moreover, manufactures and entrepreneurs are also looking forward to a digital push by the central government, emphasising the development of India’s digital sector in the era driven by technology and especially, Artificial intelligence (AI).
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Revised tax slabs, lower GST rates? Here’s what to expect from budget 2025
