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Business News/ Economy / Budget 2025 Expectations Highlights: India Inc seeks tax reforms, higher capex from FM Sitharaman's 8th budget speech
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Budget 2025 Expectations Highlights: India Inc seeks tax reforms, higher capex from FM Sitharaman's 8th budget speech

Budget 2025 Expectations Highlights: Industry watchers are awaiting a host of measures from Finance Minister Nirmala Sitharaman — from income tax slabs, GST rationalisation, infrastructure allocation, and regulatory updates, to address economic distress and consumer sentiment.

Budget 2025 Expectations Highlights: Industry watchers are awaiting a host of measures from Finance Minister Nirmala Sitharaman — from income tax slabs, GST rationalisation, infrastructure allocation, and regulatory updates, to address economic distress and consumer sentiment. (Nirmala Sitharaman Office via X)Premium
Budget 2025 Expectations Highlights: Industry watchers are awaiting a host of measures from Finance Minister Nirmala Sitharaman — from income tax slabs, GST rationalisation, infrastructure allocation, and regulatory updates, to address economic distress and consumer sentiment. (Nirmala Sitharaman Office via X)

Budget 2025 Expectations Highlights: Finance Minister Nirmala Sitharaman is set to announce the Union Budget on February 1, 2025. From ordinary taxpayers to tech, healthcare, insurance, and finance sectors, hopes are high for income tax slabs, GST rationalisation, infrastructure allocation, and regulatory updates to address economic distress and consumer sentiment.

The first part of the Parliament's Budget session is confirmed to begin from January 31 till February 13, 2025. And the second part of the session will commence on March 10 and conclude on April 4, 2025.

Nirmala Sitharaman's 8th Budget Speech

In Sitharaman's eighth Budget speech, the industry is expecting significant announcements ranging from income tax breaks, GST rationalisation, industry-specific policies and more, aimed at reviving the economy, the job market, and boosting consumer sentiments.

This will be Sitharaman's second full-fledged Budget in Modi 3.0, and her eighth budget presentation overall in Parliament. She has presented six annual and two interim budgets under the NDA government's consecutive terms in power.

As per convention over the past years, the finance minister is expected to give her Budget speech in Parliament at 11 am on February 1, 2025. However, there has been no official statement or confirmation of the date from the Finance Ministry as yet.

Further, as per official circulars, the BSE and NSE will remain open on February 1, 2025, despite it being a Saturday due to the Union Budget 2025-26.

24 Jan 2025, 10:36:47 PM IST

Budget 2025 Expectations LIVE: Shahzad Nathani, Head of Operations & Partnerships, Shardeum expects tax breaks for Web3 startups.

Budget 2025 Expectations LIVE: Shahzad Nathani, Head of Operations & Partnerships, Shardeum, expects tax breaks for Web3 startups, which will be critical for driving adoption and retaining domestic talent. 

“We hope the government will introduce tax breaks for Web3 startups, fostering innovation and growth in progressive technologies. Dedicated funds for blockchain projects and initiatives to attract top tech talent can provide the much-needed boost to this burgeoning industry," said Nathani. 

24 Jan 2025, 08:16:59 PM IST

Budget 2025 Expectations LIVE: New income tax slabs in the new tax regime?

Budget 2025 Expectations LIVE: Rahul Charkha, Partner at Economic Laws Practice expects the upcoming budget to prioritize growth-oriented measures, with a focus on boosting consumption through tax relief. 

“One of the anticipated changes is an increase in the basic exemption limit for salaried individuals, potentially raising it to 10 lakh," said Charkha.

24 Jan 2025, 07:42:08 PM IST

Budget 2025 Expectations LIVE: What are the taxpayers' expectations for this budget?

Budget 2025 Expectations LIVE: Rahul Charkha, Partner at Economic Laws Practice expects relief for high-income earners by capping the surcharge on income above 1 crore at 15%, providing relief to high-income individuals.

“A reconsideration of deadlines for filing belated and revised tax returns to give taxpayers more flexibility. Increased tax-free threshold for gifts by raising the tax-exempt limit for gifts from 50,000 to 1,00,000, recognizing inflation and changing economic realities," said Charkha.

24 Jan 2025, 01:52:28 PM IST

Budget 2025 Expectations LIVE: An increase in investment is needed for the nation's healthcare infrastructure, says Aditya Kelkar, Director of the National Institute of Ophthalmology (NIO). 

Budget 2025 Expectations LIVE: Dr Aditya Kelkar, Director of the National Institute of Ophthalmology (NIO), said an increase in investment is needed for the nation's healthcare infrastructure. 

“I would like to emphasize on the need for increased investment in healthcare infrastructure. This could involve upgrading government hospital facilities, acquiring cutting-edge equipment and expanding specialized eye care centers. We also need to enhance funding for improving safety for medical staff, doctors and patients so that it improves overall functioning of the healthcare system," said Kelkar.

“There needs to be a focus on increasing support research and innovations in the healthcare sector. As a professional dedicated to the field of ophthalmology, there is a need to drive innovations in eye care treatments, surgical procedures, and the development of new technologies. This will help improve patient outcomes as well," he said. 

“The government should also explore providing incentives for Public Eye Health Programs. There are several healthcare institutes that partner with NGOs to improve preventive and curative care for the eye health sector. The government should thereby also look at providing incentives to such institutes and NGOs," said Kelkar.

“Surgical simulators are now being used for training post-graduate medical professionals. These simulators, although very expensive are highly effective in training professionals. Thus, the government could look at subsidizing this technology for post-graduate training institutes. This will benefit future generations of doctors, especially surgeons in the long run," he said. 

“Currently, there are several eye-care technology and machinery being imported from other nations. The government should thereby look at waving off duties on such sight saving equipment or provide incentives to manufacture such technology in the country," he said. 

24 Jan 2025, 12:43:55 PM IST

Budget 2025 Expectations LIVE: MSME sector eyes for interest subvention schemes and credit accessibility

Budget 2025 Expectations LIVE: The MSME sector wants more credit accessibility, ease of IPO listing and interest subvention schemes in the upcoming budget.

According to Tarun Singh Founder & MD, Highbrow Securities, “Enhancing credit accessibility and simplifying IPO listing procedures will offer vital support. Furthermore, by introducing targeted interest subvention schemes, the government can significantly reduce operational costs. Together, these measures will strengthen the global competitiveness of our MSMEs, ensuring they continue to thrive and grow."

“To take it to the next level, I'd like to see the budget introduce innovative funding models and asset-light strategies that promote corporate governance and financial transparency. Policy incentives, including tax reliefs, sector-specific subsidies, and support for digital transformation, will be crucial in driving sustainable growth and long-term value creation," he added.

24 Jan 2025, 11:26:48 AM IST

Budget 2025 Expectations LIVE: Infra sector seeks for special status to major projects, and dedicated green energy funds

Budget 2025 Expectations LIVE: Kavita Shirvaikar, Managing Director of Patel Engineering Limited stated, “we eagerly anticipate the Union Budget 2025-26 for measures to accelerate sector growth. Key priorities include increased project funding, stronger central support to states for timely execution, and widespread adopting surety bonds over bank guarantees for bid, performance, and advance securities by government agencies and PSUs to ease financial limits and enable efficient project delivery."

 She added, “granting special status to major projects could further improve access to affordable financing ensuring timely and successful execution. Establishing a dedicated green energy fund to support hydropower and other sustainable projects would drive India’s sustainable energy transition,"

Shirvaikar also emphasized the need to prioritise sectors such as power, roadways, railways, and urban development that will boost economic growth, job creation, and foreign investment.

24 Jan 2025, 08:52:03 AM IST

Budget 2025 Expectations LIVE: Aim for low debt-GDP ratio, fiscal consolidation amid appreciating US dollar

Budget 2025 Expectations LIVE: According to Chandraprakash Padiyar, Senior Fund Manager at Tata Asset Management there is a need for economies to ensure fiscal discipline as US President Donald Trump assumes power. The Union Budget must focus on lowering the debt-GDP ratio and aim for fiscal consolidation.

“Late 2024 and ongoing in 2025 is a clear trend of global capital moving towards the US economy. US$ has appreciated against all currencies sharply. With new President in the US promising further protectionism, every economy in the world needs to focus on its strong points and look more internal. Fiscal discipline, along with other macro parameters, would be critical in these times," Padiyar said.

 “India has done very well over the past few years on improving fiscal health and the government has articulated its target to achieve below 4.5% deficit for FY26E. Additionally, Finance Minister articulated the target to reduce debt to GDP sharply beyond FY27. It would be prudent to continue to walk the path of fiscal consolidation and reduce debt-to-GDP ratios for the country, which will go a long way in sustaining growth in the long term," he added.

23 Jan 2025, 10:46:00 PM IST

Budget 2025 Expectations LIVE: Co-working spaces seek private fund boost

Budget 2025 Expectations LIVE: Anshu Sarin, CEO, 91Springboard said, "The future of India’s flex space industry lies in a synergistic partnership between the government and the private sector. The government can play a pivotal role by introducing policy frameworks that encourage innovation—such as tax incentives, streamlined regulatory approvals, and interest subvention schemes to ease capital access for operators. 

Integrating flex spaces into urban development projects, like smart cities, IT parks, and transport hubs, will further bolster growth and establish them as a vital component of India’s economic infrastructure. At the same time, the private sector must rise to the challenge by delivering world-class, technology-driven workspace solutions that cater to the evolving needs of businesses and professionals. 

Investments in sustainable practices, digital infrastructure like 5G, and enhanced customer experiences will ensure long-term viability and competitiveness. When the public and private sectors collaborate with a shared vision, we can create an ecosystem that not only supports India’s economic ambitions but also redefines how businesses operate in the modern era."

 

23 Jan 2025, 09:59:04 PM IST

Budget 2025 Expectations LIVE: Healthcare sector seeks AI-driven solutions

Budget 2025 Expectations LIVE: Chaitanya Raju, Executive Director, HealthPlix said, "Ahead of the Union Budget, we anticipate a robust focus on advancing digital health infrastructure, encompassing the expansion of digital health records, the promotion of telemedicine, and the integration of AI-driven solutions. Building on the foundational work of the Ayushman Bharat Digital Mission, public-private partnerships will be instrumental in fostering innovation and accelerating progress. 

Furthermore, strategic investments in generative AI have the potential to significantly enhance public health outcomes while easing the strain on India's healthcare ecosystem. This transformative approach will not only optimize resource allocation and improve efficiency but also lighten the load on healthcare professionals, streamline service delivery, and broaden access to high-quality healthcare across the country, especially in underserved regions."

23 Jan 2025, 08:55:02 PM IST

Budget 2025 Expectations LIVE: Agriculture sector seeks infra upgrade, higher allocation

Budget 2025 Expectations LIVE: M K Dhanuka, Chairman, Dhanuka Agritech Limited said,

"The Union Budget 2025 is a pivotal opportunity to drive transformative advancements in Indian agriculture. The sector currently faces threats from global competitors with low prices while fighting the challenges caused by climate change and lack of resources. We hope this year’s Budget prioritise key reforms, like upgrading rural infrastructure, increasing credit access for farmers, and supporting sustainable farming practices, which are necessary to facilitate inclusion and build resilience in the economy.

In 2024-25, the Ministry of Agriculture was allocated 1,32,470 crore, which is 2.7 per cent of the total central government expenditure. This is a five per cent increase compared to the revised 2023-24 estimate of 1,26,666 crore. However, as we approach the 2025-2026 budget, the government must prioritize increasing investment in agricultural research to address the sector's growing challenges. The current allocation remains insufficient.

As the government continues its agenda on modernising rural livelihoods and sustainable farming, the upcoming Union Budget 2025-26 is expected to accelerate the agri-tech revolution like drones, AI, IoT, and satellite data. There is also a decisive need for policies that develop irrigation systems, improve storage facilities, and increase farm-to-market supply chains. 

A robust, inclusive, sustainable and future-proof agroecosystem can be established through rationalization of tax structures, export incentivization and ensuring price stability for agriculture products. Fiscal incentives for eco-friendly practices, such as organic farming and water conservation, can further position India as a global leader in sustainable agriculture."

23 Jan 2025, 07:55:38 PM IST

Budget 2025 Expectations LIVE: Aviation seeks allocation to UDAN scheme

Budget 2025 Expectations LIVE: Ashish Chhawchharia, Partner, Grant Thornton Bharat said:

"The current climate in Indian aviation is markedly pointed towards sustainability and increased connectivity. Last year saw the consolidation of Air India into an ambitiously placed airline, accompanied by Indigo’s expanding fleet and transformation in business model. In lieu of this, the industry expects this year’s budget to allocate funding towards the UDAN scheme, operationalizing more greenfield airports, and sustainable fuel technology.

Another expected boost may be towards the Maintenance, Repair, and Operations segment, which is already seeing early signs of development, with Air India establishing an MRO training base in Bangalore. Further, impetus for localizing aircraft manufacturing will go a long way in making aviation sector more affordable in India."

23 Jan 2025, 06:48:17 PM IST

Budget 2025 Expectations LIVE: Experts seek better tax framework from Budget 2025

Budget 2025 Expectations LIVE: Experts seek better tax framework

“As India prepares for the upcoming Union Budget, we look forward to initiatives that support economic growth and accelerate infrastructure development. The shift towards urbanization and incentivized home loans is expected to enhance GDP. We encourage the government to continue investing in infrastructure and streamline the tax framework to benefit capital-intensive sectors like real estate," said Parag Munot, Managing Director, Kalpataru Ltd.

23 Jan 2025, 03:33:02 PM IST

Budget 2025 Expectations LIVE: Real estate sector seeks affordable housin

Budget 2025 Expectations LIVE: 

Piyush Rambhia, partner at Palladian Partners Ltd said, “2024 saw a robust recovery in India's real estate sector, with residential demand reaching an 11-year high and office leasing hitting a record 53.3 million square feet. However, affordable housing faced challenges, with its share of sales dropping from 38 per cen in 2019 to just 18 per cent.

 For 2025, we expect the Union Budget to focus on infrastructure status for housing, affordable financing, and reviving the affordable housing segment through reforms like reintroducing the Credit-Linked Subsidy Scheme and revising price caps to reflect market realities."

23 Jan 2025, 02:03:28 PM IST

Budget 2025 Expectations LIVE: Imported medical technologies inflate healthcare costs, more R&D in the healthcare sector required

Budget 2025 Expectations LIVE: According to Dr. Manisha Bobade, CEO, K J Somaiya Hospital & Research Centre, “ A critical area for growth is India’s reliance on imported medical technologies. This dependency significantly inflates healthcare costs, making advanced treatments and equipment inaccessible to many. The Union Budget 2025 offers an opportunity to amplify these advancements, nurturing innovation and inclusivity while driving impactful growth across the healthcare landscape."

Bobade said, “Promoting investments in research and development (R&D) and supporting domestic innovation can accelerate the creation of cost-effective, advanced medical technologies."

“Seamlessly integrating innovation with accessibility, the evolution of India’s health insurance system presents a significant avenue for strengthening healthcare delivery," she added by emphasising the need to expand health insurance coverage.

23 Jan 2025, 12:36:57 PM IST

Budget 2025 Expectations LIVE: Important dates

Budget 2025 Expectations LIVE: The first part of the Parliament's Budget session is confirmed to begin on January 31 and conclude on February 13, 2025. The second part will commence on March 10 and conclude on April 4, 2025.

23 Jan 2025, 11:04:26 AM IST

Union Budget 2025 Expectations Live Updates: Tax Breaks, easy credit, and expanding regulatory sandboxes required to boost startup ecosystem

Union Budget 2025 Expectations Live Updates:  According to Sahil Anand, Founder and Managing Partner of Cedar-IBSi Capital, a fintech venture capital firm, “tax breaks on early-stage investments and Angel Tax-related exemptions need to be allocated for further capital inflows towards startup companies. The current tax regime makes disinvestment in innovation rather unattractive and necessitates some restructuring."

Additionally, “bringing down capital gains taxes for venture capital and private equity players would push India as a significant market destination for such investors into sectors like financial services and healthcare, among others," Anand said.

“Lastly, the regulatory sandboxes, especially in the Fintech space, need to see their capabilities and coverage expand, so that emerging technologies can be accelerated for testing and launching various financial services. Speedier approval processes will create a more dynamic FinTech ecosystem," he added.

23 Jan 2025, 09:36:02 AM IST

Union Budget 2025 Expectations Live Updates: FMCG sector eyes for more infra investment

Union Budget 2025 Expectations Live Updates: The fast-moving consumer goods (FMCG) and retail sector urged investments in digital infrastructure, skill development, and MSME promotion in the upcoming union budget to boost spending in the economy, especially in rural areas.

 “Investments in digital infrastructure, skill upgradation, job creation, and MSME development to indirectly reignite consumption and spending in the economy, especially in rural areas," ANI reported citing Axis Securities.

23 Jan 2025, 07:50:11 AM IST

Union Budget 2025 Expectations Live Updates: No Securities Transaction Tax  and revised income tax slab

Union Budget 2025 Expectations Live Updates: Fore the upcoming Union Budget 2025, the abolition of Securities Transaction Tax (STT) and the revision of the income tax exemption slab to 25 lakh are two major expectations, Akshat Khetan, corporate and legal advisor and Founder of AU Corporate Advisory and Legal Services (AUCL) told ANI.

22 Jan 2025, 08:00:47 PM IST

Union Budget 2025 Expectations Live Updates: Income tax changes NRIs can expect in Budget 2025. 

Union Budget 2025 Expectations Live Updates: Rahul Charkha, Partner at Economic Laws Practice, said Tax Treaty Relief at source through the introduction of a legal provision which allows employers to provide tax treaty relief directly at the withholding stage, will be impactful for NRIs. 

“Enabling tax payments and direct credit of tax refunds to overseas bank accounts. This move would simplify financial transactions for NRIs and ensure seamless access to their funds," he said. 

“Easing tax compliance for NRIs selling property in India by introducing a challan-cum-statement mechanism. This system, similar to that used for resident sellers, would eliminate the need for buyers to obtain a Tax Deduction and Collection Account Number and reduce procedural hurdles," said Charkha.

22 Jan 2025, 07:22:58 PM IST

Union Budget 2025 Expectations Live Updates: Is relief under the old tax regime possible in this upcoming budget? 

Union Budget 2025 Expectations Live Updates: According to Rahul Charkha, Partner at Economic Laws Practice, there are expectations of some tax relief under the old tax regime in the upcoming Union Budget.

“This budget could bring potential relief by increasing the deduction limit under Section 80C and removing the 2 lakh capping limit for setting off house property losses against other income heads within the same year," said Charkha.

22 Jan 2025, 05:01:34 PM IST

Union Budget 2025 Expectations Live Updates: Pratap Daruka, Chief Financial Officer at Tredence, urges govt to focus on Data Science and AI sectors.

Union Budget 2025 Expectations Live Updates: Pratap Daruka, Chief Financial Officer at Tredence, said he urges the government to prioritize measures that foster innovation and growth in the data science and AI sectors. 

“Targeted investments in R&D and stronger public-private partnerships are crucial for building a robust digital transformation ecosystem. To position India as a global leader in AI, it is imperative to introduce tax reforms such as enhanced R&D tax credits and service-linked incentives for AI and data science services," said Daruka.

Moreover, increasing grants for STEM education, launching large-scale reskilling programs, and encouraging industry-academia collaborations will bridge the talent gap and nurture a future-ready workforce, according to the CFO. 

22 Jan 2025, 04:28:45 PM IST

Union Budget 2025 Expectations Live Updates: Will the government sunset the old tax regime?

Union Budget 2025 Expectations Live Updates: The Indian government is focused in simplifying the income tax system by promoting the new tax regime and offering attractive tax rates, said Rahul Charkha, Partner at Economic Laws Practice. 

“For Assessment Year 2024-25, a record 7.28 crore Income Tax Returns (ITRs) were filed by 31 July 2024, with 5.27 crore (approximately 72%) filed under the new tax regime. This high adoption rate reflects positive feedback from taxpayers. While the government may eventually phase out the old tax regime, this is unlikely to happen in Budget 2025," said Charkha. 

22 Jan 2025, 04:00:22 PM IST

Union Budget 2025 Expectations Live Updates: Will Budget 2025 bring Direct Tax Code?

Union Budget 2025 Expectations Live Updates: Rahul Charkha, Partner at Economic Laws Practice expects the introduction of a Direct Tax Code (‘DTC’) which has been a long-standing discussion in India to simplify and modernize tax laws. 

“Budget 2025 may set the stage for introducing a DTC by laying out a roadmap or implementing incremental reforms. While a comprehensive DTC overhaul might take time, initial measures could be expected," said Charkha. 

22 Jan 2025, 02:50:19 PM IST

Union Budget 2025 Expectations Live Updates: Edu-fintech industry optimistic, expect schemes and tax incentives in Budget

Union Budget 2025 Expectations Live Updates: The edu-fintech sector is optimistic about the Budget introducing “progressive measures to enhance financial accessibility and innovation in education," according to Rohit Gajbhiye, Founder and MD of LEO1.

He expects the Budget to:

  • Address affordability through interest-free or subsidised schemes, digital financial solutions, and tax incentives for education-related expenses.
  • Policies encouraging partnerships between fintech players and educational institutions to accelerate adoption of technology-driven financial systems, bridge funding gaps and improve cash flow management.

22 Jan 2025, 02:34:12 PM IST

Union Budget 2025 Expectations Live Updates: ‘Encourage private capital, sustained govt spending needed for construction industry’

Union Budget 2025 Expectations Live Updates: The construction industry is a key driver of India’s economic growth, but fragmented supply chains pose a risk of delays, feels Aaditya Sharda, Co-Founder of Infra.Market.

He expects in Budget 2025: Support for technology-driven solutions; incentives for sustainable practices to align growth with environmental goals; encouragement of private capital investment and sustained government infrastructure spending, particularly in Tier 2 and Tier 3 cities; stable raw material prices through subsidies or reduced import duties; industry status to real estate; interest rate cuts to increase liquidity and encourage demand; PLI schemes and tax breaks for manufacturing setups.

22 Jan 2025, 02:12:29 PM IST

Union Budget 2025 Expectations Live Updates: ‘Hope for supportive policy measures’

Union Budget 2025 Expectations Live Updates: Vishal Sharma, Cofounder & CEO of AdvaRisk, expects the government to continue their focus on marginalised communities.

Expectations: Increase in Kisan Credit Card loan limit from 3 lakh currently; supportive policy measures for fintech and startup sectors for training incentives; training incentive for technical employees hired by start-ups to promote skilled workforce development in the startup sector.

22 Jan 2025, 01:37:54 PM IST

Union Budget 2025 Expectations Live Updates: ‘Budget pivotal for education, skilling landscape’

Union Budget 2025 Expectations Live Updates: The Union Budget 2025 is pivotal for India's education and skilling landscape, belives Anil Nagar, Founder and CEO of Adda247.

He expects the Budget to give: Targeted tax breaks and incentivised collaborations between EdTech platforms and educational institutions; access to skilling for economically disadvantaged students; interest-free loans; and reduce GST rates on education and skilling initiatives.

22 Jan 2025, 12:47:44 PM IST

Union Budget 2025 Expectations Live Updates: ‘Data compliance, policy adoption, funding key expectations for AI and Tech sectors'

Union Budget 2025 Expectations Live Updates: India aims to become a digital-first economy and as such, the upcoming Union Budget holds great importance, feels Samyak Jain, Co-founder and CEO of Zeko AI.

He hope to see: Investment initiatives that nourish innovation and give a boost to AI infrastructure; support in streamlining data compliance; AI adoption policies across sectors; investments in robust AI/data skills training; easy access to private funding and reduced compliance burdens for startups.

22 Jan 2025, 12:27:59 PM IST

Union Budget 2025 Expectations Live Updates: ‘Budget will continue to build on momentum of PM Awas, Smart Cities Mission’

Union Budget 2025 Expectations Live Updates: The Indian real estate sector has seen various government schemes such as the Pradhan Mantri Awas Yojana and Smart Cities Mission that have made India one of the most dynamic real estate markets globally. Sebi Joseph, President of Otis India anticipates that the Budget will continue to build on this momentum.

He expects: More forward-thinking measures to further strengthen the real estate and infrastructure sectors, with a special focus on localisation and sustainability; strategic steps such as targeted investments, substantial tax reliefs, enhanced funding mechanisms, and robust infrastructure initiatives.

For the elevator and escalator industry in particular, Joseph thinks that a surge in infra projects, including smart cities, metro systems, and high-rise buildings, will provide benefits.

22 Jan 2025, 11:43:25 AM IST

Union Budget 2025 Expectations Live Updates: ‘Hope for strategic focus on empowering SMEs’

Union Budget 2025 Expectations Live Updates: Ankit Verma, Indian Subcontinent Head of Air8 hopes that Budget 2025 will have a strategic focus on empowering SMEs through enhanced access to affordable credit and support for manufacturing innovation. 

“Strengthening public-private partnerships to create value for SME businesses is vital, particularly for green and sustainable practices," he added.

Verma expects: Budget should prioritise measures that enable them to scale operations, embrace eco-friendly solutions, and enter international markets; robust financial and policy support will not only help SMEs thrive domestically but also position them as key players in global value chains.

22 Jan 2025, 11:19:13 AM IST

Union Budget 2025 Expectations Live Updates: ‘Strengthening insurance sector essential for growth’

Union Budget 2025 Expectations Live Updates: The strengthening of the insurance sector ahead of the budget is essential for driving financial resilience, economic stability, and inclusive growth, feels Sharad Mathur, MD and CEO of Universal Sompo General Insurance.

In the upcoming Budget 2025-26 announcement by Finance Minister Nirmala Sitharaman, he expects targeted reforms and incentives like reduction of GST on health insurance. “We can unlock the true potential of insurance, ensuring wider coverage, encouraging innovation, and building a secure future for every individual and business," Mathur added.

22 Jan 2025, 10:55:50 AM IST

Union Budget 2025 Expectations Live Updates: ‘Budget has significant opportunity to elevate India’s sports tourism sector'

Union Budget 2025 Expectations Live Updates: The Budget has a significant opportunity to elevate India's sports tourism sector, feels Monish Shah, Founder & CEO of DreamSetGo.

He noted that around 25 million Indians traveling abroad in the first 10 months of 2024, showed a clear demand for international travel and sports events like the Olympics or Formula 1.

Expectations include: Investing in world-class sports infrastructure and creating a travel-friendly environment will not only make India an attractive global events destination but also empower Indian athletes and fans. 

22 Jan 2025, 10:10:49 AM IST

Union Budget 2025 Expectations Live Updates: ‘Govt has task cut out with Budget amid lagging growth’

Union Budget 2025 Expectations Live Updates: With the full-year FY25 GDP growth expected to settle around the four-year low of 6.4 per cent, Pradeep Gupta, Executive Director and Head of Investment at Lighthouse Canton, believes that the government will have its task cut out in the coming Budget.

What does he expect? The list includes: Continued emphasis on fiscal prudence and momentum in areas of focus like public capex, infrastructure, and employment creation; 10%-12% growth over last year’s capex budget for this year; continued anchoring of the PLI-linked incentive ambit to push manufacturing push. On taxes, Gupta said India may not witness a complete or significant overhaul of direct tax yet. 

22 Jan 2025, 10:01:16 AM IST

Union Budget 2025 Expectations Live Updates: ‘Real estate, infra are critical growth engines, we expect major announcements’

Union Budget 2025 Expectations Live Updates: The real estate and infrastructure sectors are expecting major announcement in this Budget as they are “critical growth engines for the economy", according to Sahil Agarwal, CEO of Nimbus Group.

What are these expectations?

  • Rationalisation of taxes and duties levied on homebuyers, which in many states exceed 12% of a property’s value. 
  • Revisit the long-term capital gains (LTCG) tax on real estate and consider providing relief in this area. 
  • Steps toward GST reforms for the real estate sector are also necessary to make it a more attractive investment option. 
  • Increasing the tax deduction limit under Section 24(b) for home loan interest, currently capped at 2 lakh per annum, to at least 5 lakh would provide substantial financial relief. 
  • Industry status for the real estate sector is a long-pending demand. 
  • Consider increasing budgetary allocations for infrastructure development, including metro networks, multimodal corridors, and last-mile connectivity projects. 

22 Jan 2025, 09:24:18 AM IST

Union Budget 2025 Expectations Live Updates: ‘Reforms to make insurance more accessible, appealing needed’

Union Budget 2025 Expectations Live Updates: Alok Rungta, MD & CEO of Future Generali India Life Insurance feels that it is “imperative" that the coming Budget prioritise reforms that make insurance more accessible and appealing to the masses. 

“Life insurance is vital for financial security and economic stability… to achieve the vision of 'Insurance for All' by 2047, reforms are essential," Rungta said.

He expects: Enhanced tax benefits, such as increasing the Section 80C deduction for life insurance premiums to 2.5 lakh; reducing 18% GST on premiums of Individual & Group term to 5-12%; a concerted push life insurance penetration to 5% by 2030.

21 Jan 2025, 05:54:28 PM IST

Union Budget 2025 Expectations Live Updates: Budget can increase price cap for affordable housing to ₹75 lakh, says Aditya Shah, Director, Mayfair Housing. 

Union Budget 2025 Expectations Live Updates: Aditya Shah, Director, Mayfair Housing, said the upcoming union budget could increase the price cap for affordable housing to 75 lakh to boost affordable housing in the nation. 

“To boost affordable housing, the budget could consider increasing the price cap for such projects to 75 lakh and extending the benefits under Section 80-IBA. Offering complete tax exemption on home loan interest and phasing out stamp duty as part of a 'One Nation, One Tax' vision would further enhance homebuyer confidence and ease the financial burden," said Shah. 

21 Jan 2025, 12:51:52 PM IST

Union Budget 2025 Expectations Live Updates: What EV industry expects on February 1?

Union Budget 2025 Expectations Live Updates: According to Anagh Ojha, Co-founder & CTO, Urja Mobility there a need reduce GST rate on EV batteries from 18% to 5%.

 “Batteries, which constitute nearly 50% of an EV's total cost, remain a significant burden on end users due to the current GST rate of 18%…. we hope the government will focus on simplifying GST structures and addressing inverted tax issues. A uniform GST rate of 5% across EVs, batteries, components, and charging infrastructure would significantly reduce costs and encourage growth in this space and also catalyze the faster adoption of electric vehicles," Ojha said.

“Focused subsidies and incentives for battery-as-a-service (BaaS) models would make EVs more accessible by lowering the upfront costs for businesses and consumers. Bundled services such as maintenance and pay-per-use models offer flexibility and affordability, which are essential to expanding EV adoption across underserved markets," he added.

Ojha also hoped for sufficient charging infrastructure as well.

“We also hope for policies that encourage interoperable charging infrastructure and green financing innovations, including carbon credit systems, to streamline fleet operations and financing. Investments in Al-driven credit risk assessment and real-time energy management systems would further enhance the efficiency of EV leasing models," he said.

21 Jan 2025, 11:54:10 AM IST

Union Budget 2025 Expectations Live Updates: Ease FDI norms in the insurance sector

Union Budget 2025 Expectations Live Updates: According to Aftab Chaz, Associate Director and Business Head at Elephant.in an insurance consulting platform, the government should ease procedural hurdles for FDI in the insurance sector.

 “The Union Budget 2025 presents a significant opportunity for growth in India’s insurance sector through targeted reforms. Easing procedural hurdles for Foreign Direct Investment (FDI) beyond the current 74% cap could attract more capital, allowing insurers to underwrite larger risks, expand into underserved areas, and invest in technology," he said

Additionally, “taxation reforms are equally critical. Raising the Section 80D deduction limit for health insurance premiums from 25,000 to 50,000 and reducing GST on premiums from 18% to 5% would make insurance more accessible and affordable. Additionally, incentivising technology adoption, such as AI and blockchain, can enhance efficiency and customer experience."

 

21 Jan 2025, 11:06:29 AM IST

Union Budget 2025 Expectations Live Updates: ‘Exempt LTCG for retirees over 60-65 years’

Union Budget 2025 Expectations Live Updates: Rajul Kothari, Partner at Capital League feels that the recent tax changes for debt funds have severely impacted retirees seeking safe, non-volatile investments to beat inflation on a post-tax basis.

“With long-term capital gains tax on pure debt funds now equivalent to fixed deposits at a marginal rate of tax, retirees are forced to consider hybrid funds with a minimum 15-20% equity component to achieve tax-efficient returns. This exposes them (retired citizens) to unnecessary risk," he said.

The solution according to Kothari is to exempt long-term capital gains tax for investors above 60-65 years at the time of redemption to encourage the use of pure debt funds and products and provide them with a stable and low-risk investment option, uncorrelated with the volatility of equity markets.

21 Jan 2025, 11:06:12 AM IST

Union Budget 2025 Expectations Live Updates: Industry expecting host of measures from FM Sitharaman

Union Budget 2025 Expectations Live Updates: Good morning and welcome to Livemint's coverage of Union Budget 2025 expectations. 

Industry watchers are awaiting a host of measures from Finance Minister Nirmala Sitharaman, including income tax slabs announcements, GST rationalisation, infrastructure allocation, and regulatory updates, to address economic distress and consumer sentiment.

Stay with Livemint for the latest Union Budget related news and updates.

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