Back
PremiumUnion Budget 2025 Expectations Highlights: What do industries look forward to from Finance Minister Nirmala Sitharaman ahead of the upcoming Union Budget 2025? We take a look.
Budget 2025 Date and time
The Finance Minister will most likely present the Union Budget 2025 on February 1, 2025 at 11 am, following the tradition of recent years. While there has been no official confirmation from the government, Finance Minister Nirmala Sitharaman will likely unveil the second full-fledged budget of the Modi 3.0 government on the first day of next month.
This will be the minister's eighth budget presentation, which includes six annual and two interim budgets.
Stock market to remain open on Budget day
In light of the Union Budget 2025 announcement, the Indian stock market ( BSE and NSE) will remain open on 1 February despite being a Saturday. "On account of the presentation of the Union Budget, Exchange shall be conducting a live trading session on February 1, 2025," said the exchanges in a circular.
On all Saturdays and Sundays, Indian stock exchanges are typically closed for trade. There have been earlier instances of the Union Budget being presented on Saturday.
Consultations with industry, stakeholders concluded
Union Finance Minister Nirmala Sitharaman on January 6, finished her month-long consultations with industry and sector stakeholders ahead of the 2025 Budget prepartion, PTI reported.
“The consultations started on December 6, 2024. In the course of the in-person consultations, more than 100 invitees across 9 stakeholder groups, including experts and representatives from farmer associations & agriculture economists; trade unions; education & health sector; MSME; trade & services; industry; economists; financial sector & capital markets; as well as, infrastructure, energy and urban sector, participated in the meetings," according to a Finance Ministry statement.
Union Budget 2025 Expectations Live Updates: ZebPay's Chief Operating Officer (COO) Raj Karkara said that they anticipate Union Budget 2025 will introduce progressive measures such as revisiting the 30% tax on crypto income and the 1% TDS mechanism.
“Simplified tax structures can encourage wider participation while boosting liquidity and trading volumes. Recognition of crypto as a formal asset class, with clear classifications, is another critical step. This clarity, coupled with robust regulatory guidelines, will not only safeguard investors but also provide a stable foundation for the industry’s growth," said Karkara.
Union Budget 2025 Expectations Live Updates: CEO of Vestian, Shrinivas Rao, highlighted a rise in tax exemption limit for housing loans, granting ‘Industry’ status, and amendments in GST input tax credit regulations will likely boost affordability in the housing sector.
“Rise in tax exemption limit for housing loans, granting ‘Industry’ status, amendments in GST input tax credit regulations, boost in affordable housing sector by broadening the definition, and easing liquidity by policy reforms are some of the broad expectations from the upcoming Union Budget 2025-26," said Rao.
Union Budget 2025 Expectations Live Updates: CEO and Co-founder of Neuron Energy, Pratik Kamdar, said that similar to the 5% GST on EVs fueling adoption in the nation, GST cuts on EV batteries can further reduce production costs to make the vehicles more accessible for buyers.
“To support infrastructure development, prioritizing charge point operators under priority sector lending could lower financing costs and accelerate the deployment of charging networks," said Kamdar, highlighting the support needs of the sector.
Union Budget 2025 Expectations Live Updates: Speaking on the insurance sector expectations Shilpa Arora, Co-Founder and COO of Insurance Samadhan told LiveMint that the industry is expected to reach $222 billion by 2026.
“The previous budget did not bring much relief for the insurance sector and, more importantly, the consumers … However, IRDAI has committed to enabling “Insurance for All" by 2047 … I am optimistic about the upcoming budget and expect measures to boost the accessibility and affordability of insurance, particularly for the middle class," she said.
Other expectations she looks forward to are rationalising of GST rates, and special tax incentives on term and health insurance.
Union Budget 2025 Expectations Live Updates: Dr Suneeta Reddy, MD at Apollo Hospitals told Livemint that she expects this Budget to “build on last year's momentum" focusing on bringing down costs for medicines, equipment and treatment of cancer. On her wish list is “reduced customs duties on essential medicines … extended to include targeted therapy drugs as well as advanced cancer treatment equipment like Radiotherapy machines and Robotics … rationalized duty structure to lower cancer treatment costs … reduced input GST on healthcare services … infra-linked PLI for sector to increase number of beds per patients as per population requirement … lower GST on health insurance premiums … mandatory health insurance for companies employing over 20 staff … boost for telehealth and digital services to reduce strain on hospitals."
“These measures will help pave the way for a robust and equitable healthcare system, ensuring better health for all," she added.
Union Budget 2025 Expectations Live Updates: The Finance Minister will most likely present the Union Budget 2025 on February 1 at 11 a.m. Notably, the date of the Budget announcement and Budget session of Parliament have not yet been announced.
Union Budget 2025 Expectations Live Updates: In light of the Union Budget 2025 announcement, the Indian stock market ( BSE and NSE) will remain open on 1 February despite being a Saturday. "On account of the presentation of the Union Budget, Exchange shall be conducting a live trading session on February 1, 2025," said the exchanges in a circular.
On all Saturdays and Sundays, Indian stock exchanges are typically closed for trade. There have been earlier instances of the Union Budget being presented on Saturday.
Union Budget 2025 Expectations Live Updates: The Finance Minister will most likely present the Union Budget 2025 on February 1, 2025 at 11 am, following the tradition of recent years. While there has been no official confirmation from the government, Finance Minister Nirmala Sitharaman will likely unveil the second full-fledged budget of the Modi 3.0 government on the first day of next month.
This will be the minister's eighth budget presentation, which includes six annual and two interim budgets.
Union Budget 2025 Expectations Live Updates: Radhika Koolwal, Co-Founder of Urban Space told Livemint that the home decor industry is “optimistic about measures that can bolster growth and innovation in the sector".
She hopes for policies that would push domestic manufacturing, including tax breaks for MSMEs and startups, cut in GST rates on home furnishings and decor items, financial support for digital infrastructure and e-commerce platforms, and enhanced export incentives, to “help Indian brands compete globally and showcase our designs on the international stage".
Union Budget 2025 Expectations Live Updates: Union Fiannce Minister Nirmala Sitharaman this week finished her month-long consultations with industry and sector stakeholders ahead of the 2025 Budget prepartion, PTI reported.
"The consultations started on December 6, 2024. In the course of the in-person consultations, more than 100 invitees across 9 stakeholder groups, including experts and representatives from farmer associations & agriculture economists; trade unions; education & health sector; MSME; trade & services; industry; economists; financial sector & capital markets; as well as, infrastructure, energy and urban sector, participated in the meetings," according to a Finance Ministry statement.
Budget 2025 Expectations Live Updates: Pradeep Aggarwal, Founder and Chairman of Signature Global (India), said that adjustments to GST input tax credit regulations can potentially stabilize property prices, due to reduced developers’ tax burdens.
Budget 2025 Expectations Live Updates: Radhika Koolwal, Co-Founder of Urban Space, said that a GST rate cut towards home furnishing and decor items will be a significant step towards making quality products more accessible to the nation's increasing middle class.
“We hope for policies that incentivize domestic manufacturing, such as subsidies on raw materials and machinery, along with tax breaks for MSMEs and startups," said Koolwal.
Budget 2025 Expectations Live Updates: The Union Budget 2025-26 is expected to address key legal and financial challenges to improve the ease of doing business factor in the economy, said Dinesh Jotwani, Co-Managing Partner at Jotwani Associates.
“Strengthening judicial infrastructure, incentivizing alternative dispute resolution mechanisms, and introducing technology-driven reforms in courts could significantly improve access to justice," he said.
On the financial front, simplification of tax structures, rationalization of GST rates, and enhanced clarity in compliance requirements for professionals, startups, and MSMEs would bolster confidence in India’s legal and economic framework. Greater alignment between legal and financial policies will be crucial to sustaining investor trust and fostering innovation, said Jotwani.
Budget 2025 Expectations Live Updates: The Ministry of Statistics and Programme Implementation (MoSPI) expects India's GDP to grow at the pace of 6.4% in the financial year 2024-25, according to an official statement.
This growth is lower compared to 8,2% last year.
Budget 2025 Expectations Live Updates: Chief Election Commissioner on Tuesday, January 7, said, “There won't be any Delhi-related announcement in budget…".
Budget 2025 Expectations Live Updates: Manas Mehrotra, Founder, 315Work Avenue told Livemint that the coworking industry has emerged as a pivotal force in the modern work landscape.
He looks forward to lower GST rate for small-scale coworking clients; input tax credit under GST; lowering of stamp and registration duties; lower rate of TDS which will improve the working capital, among others.
Union Budget 2025 Expectations Live Updates: Pali Tripathi, CEO of Taabi Mobility told Livemint that the upcoming Budget has potential to “ propel India into the forefront of logistics technology by supporting the integration of emerging technologies like AI, IoT, robotics, automation, and 5G".
“We urge the government to prioritize the development of a National Technology Strategy for Logistics, enabling the seamless integration of cutting-edge technologies into the sector," Tripathi added.
He believes that focus on building technology-driven infrastructure, including smart logistics parks, IoT-enabled transport systems, and advanced port and highway technologies is key.
Union Budget 2025 Expectations Live Updates: Pradeep Aggarwal, Founder & Chairman, Signature Global (India) told Livemint that the real estate sector is “optimistic about reforms that can act as growth catalysts and enhance operational efficiency".
Among the revisions Aggarwal is looking forward to includes increasing tax exemption limit on housing loans to ₹5 lakhs, in line with rising property prices; granting of industry status to real estate; adjustments to GST input tax credit regulations to reduce developers’ tax burdens, and potentially stabilizing property prices and making housing more accessible, among others
Union Budget 2025 Expectation Live Updates: Taxation expert Harsh Bhuta, Partner at Bhuta Shah and Co LLP told Livemint he looks forward to “promised comprehensive review of the Income-Tax Act" making it “concise, lucid, easy to read and understand" and thereby less complicated.
Among his suggestions include: fast track appeals pending at first appellate stage, with focus on disposing old appeals in a time bound manner and introduction of dedicated dispute resolution mechanism, reduced tax rates for existing taxpayers by broadening base among others.
Union Budget 2025 Expectations LIVE Updates: Good morning and welcome to Livemint's LIVE coverage of the upcoming Union Budget 202. Ahead of the Budget expected in February, we take a look at what the industries look forward to from Finance Minister Nirmala Sitharaman in this iteration.
Stay tuned for the latest news, views and more.
