Finance Minister Nirmala Sitharaman will deliver the Union Budget 2025 as part of Parliament’s Budget session, which started on January 31, 2025. The first portion of the budget session will conclude on February 13, 2025.
The middle class, regular people, women, and salaried taxpayers are all looking forward to Sitharaman’s Budget 2025 address in the hopes that it would bring about modifications to income tax rates and slabs.
Most tax experts expect improvements to the new income tax structure to encourage its adoption. Income tax reduction for the middle class would also serve the critical purpose of increasing consumption and hence promoting economic development.
The Economic Survey also predicted that India’s economic growth will decelerate in the following fiscal year, although it emphasised that India’s internal economic fundamentals remain strong.
According to the Economic Survey 2024-2025 document, “The fundamentals of the domestic economy remain robust, with a strong external account, calibrated fiscal consolidation and stable private consumption. We expect that the growth in FY26 would be between 6.3 and 6.8 per cent.”
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