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Union Budget 2025: What are expectations of industries and taxpayers from Nirmala Sitharaman's eighth budget ?

From income tax relief to GST rationalisation, industry stakeholders, experts, and economists are closely monitoring the key reforms and announcements from Finance Minister on February 1.

Reported by:  PTC News Desk  Edited by:  Jasleen Kaur Gulati -- January 30th 2025 02:34 PM
Union Budget 2025: What are expectations of industries and taxpayers from Nirmala Sitharaman's eighth budget ?

Union Budget 2025: What are expectations of industries and taxpayers from Nirmala Sitharaman's eighth budget ?

PTC News Desk: The eighth budget speech by Union Finance Minister Nirmala Sitharaman is eagerly awaited by industrialists and taxpayers while anticipating key announcements that would favour common man. From income tax relief to GST rationalisation, industry stakeholders, experts, and economists are closely monitoring the key reforms and announcements from Finance Minister on February 1.


When is the Union Budget 2025 Speech?

The finance minister will give her Budget speech in Parliament at 11 am on February 1, 2025. This will be Nirmala Sitharaman's second full fledged budget during BJP led NDA government assumed power in 2024. So far Union Minister has presented six annual and two interim budgets under NDA  government. 

Budget 2025 Expectations 

Income Tax Reduction

As we approach the Union Budget 2025, there is an increasing expectation that government mulls over reduction in personal income tax slabs and raising exemption limit aimed at providing much needed relief to middle-income households. 

Boost in Real Estate

The real estate sector eyes oppertunity on growth oriented announcements while seeking  better tax benefits for homebuyers, particularly a higher deduction limit for home loan interest to boost housing demand. Additionally, policies to enhance liquidity for developers, promote ease of doing business and incorporate private and foreign investments through relaxed FDI norms are crucial.

Higher allocation for education sector

The education sector seeks higher budgetary allocation.

“We anticipate a higher budget allocation towards school infrastructure development, especially at the grassroots level, and an emphasis on education via the Right to Education (RTI) Act. In the Union Budget 2024, the allocation for Samagra Shiksha Abhiyan (SSA) was ₹37,500 crores, and the Department of School Education was allocated ₹73,008 crores," said Chaitanya Dev Singh, National President, Round Table India.

Cybersecurity Measures and 5G infra Push 

“Prioritizing investments in 5G infrastructure and cybersecurity will further support Digital India’s growth by enabling innovation, safeguarding critical systems, and unlocking opportunities across sectors like healthcare and smart cities," according to Arijeet Talapatra, CEO, Itel India.

Announcement of a 1 lakh crore fund for private sector R&D a game-changer

Dhananjaya Bhardwaj, CEO And Founder, ParkMate said, “The announcement of a 1 lakh crore fund for private sector R&D, backed by a 50-year interest-free financing scheme, is a game-changer for us. It empowers our team to dream bigger, work on groundbreaking ideas, and develop innovative solutions that can transform parking and mobility as we know it. This isn’t just about research-it’s about creating technologies that solve today’s challenges while preparing for a smarter sustainable tomorrow.

- With inputs from agencies

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