Union Budget 2025 Expectations Live Updates: From ordinary taxpayers, to tech, healthcare, insurance, and finance sectors, among others — all stakeholders are holding high hopes for Union Finance Minister Nirmala Sitharaman's eighth Budget speech in February.
Union Budget 2025 Expectations Live Updates: From ordinary taxpayers, to tech, healthcare, insurance, and finance sectors, among others — all stakeholders are holding high hopes for Union Finance Minister Nirmala Sitharaman's eighth Budget speech in February.
Notably, she completed Pre-Budget Consultation with various stakeholders, unions and other representatives on January 6, ahead of beginning work on Budget 2025-26.
FM Sitharaman 8th Budget Speech
In Sitharaman's eighth Budget speech, likely next month, the industry is expecting significant announcements ranging from income tax breaks, GST rationalisation, industry-specific policies and more, aimed at reviving the economy and boosting consumer sentiments.
This will be Sitharaman's second full-fledged Budget in Modi 3.0, and her eighth budget presentation in Parliament. She has presented six annual and two interim budgets under the NDA government's consecutive terms in power.
When is the Union Budget 2025 Speech?
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.
On markets side, 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. In a circular, the exchanges said: "On account of the presentation of the Union Budget, Exchange shall be conducting a live trading session on February 1, 2025." usually, the Indian stock market is closed on Saturdays and Sundays.
Union Budget 2025 Expectations Live Updates: The Indian Govt should take steps to increase exports and control the trade balance: Pradeep Misra, Chairman & MD of Rudrabhishek Enterprises Limited (REPL).
Union Budget 2025 Expectations Live Updates: Chairman and Managing Director of Rudrabhishek Enterprises Limited (REPL), said that it is important for the Indian government to take measures to increase nation's exports and control the trade balance.
"The budget should introduce policies to support 'export oriented MSMEs' by giving them benefits of PLI (Production Link Incentives) scheme. If the MSMEs get the adequate support in terms of investment, technology and tax benefits, their output and quality can match international standers resulting in massive push to exports," said Misra.
Union Budget 2025 Expectations Live Updates: Parliament's Budget Session to be held between Jan 31 and Feb 13, reported NDTV.
Union Budget 2025 Expectations Live Updates: The Budget session dates have been finalised to be held between January 31 and February 13, reported the news portal NDTV.
Union Budget 2025 Expectations Live Updates: Saurabh Gahoi, Senior VP of Ramee Group, says potential tax cuts on sustainable tourism practices are expected to align with global targets.
Union Budget 2025 Expectations Live Updates: Saurabh Gahoi, Senior Vice President of Ramee Group, says that potential tax rebates for eco-friendly initiatives like energy-efficient operations and sustainable tourism practices will be significant and in line with the industry's global sustainability goals.
"We hope the government introduces targeted policies to enhance infrastructure development in key tourist destinations, streamline GST structures for hospitality services, and incentivize investments in the sector," said Gahoi.
Union Budget 2025 Expectations Live Updates: 'Initiatives can accelerate adoption of EVs and hybrid models'
Union Budget 2025 Expectations Live Updates: For the EV sector, Nikhil Khurana, Founder & CEO of Folks Motor anticipates "stronger support" in this Budget.
He hopes the government will help in the adoption of retrofitting, tax benefits for hybrid-electric vehicles, and expansion of charging infrastructure, adding: " These initiatives can accelerate the adoption of xEVs and Evs, making clean mobility solutions accessible and affordable for all."
India has a vision of a sustainable future and Khurana looks forward to seeing measures that support this shift towards eco-friendly transportation in the upcoming budget.
Union Budget 2025 Expectations Live Updates: 'Hope to see robust push for EVs and energy storage'
Union Budget 2025 Expectations Live Updates: Samrath Singh Kochar, Founder and CEO of Trontek hopes that this Budget will have "robust push for the electric vehicle (EV) and energy storage sectors"
He pointed that this aligns with India's goals for a sustainable and energy-efficient future. As India's EV industry grows, the need for high-quality, long-lasting batteries becomes even more critical.
"We believe the upcoming budget should continue to incentivise the development and adoption of advanced battery technologies, ensuring that we remain self-reliant and reduce dependency on imports. Furthermore, support for sustainable energy storage solutions will empower not just EVs, but also other sectors such as renewable energy and backup power systems," he added.
Union Budget 2025 Expectations Live Updates: Tech entrepreneurs excited
Union Budget 2025 Expectations Live Updates: The tech industry is excited ahead of the upcoming Budget, according to Payal Nambiar, Founder & Director of B-Square. She feels tech entrepreneurs are looking for "policies that promote innovation and entrepreneurship while ensuring soft compliance measures that do not stifle growth".
Expectations include: Measures that facilitate the establishment of AI centres, special schemes aimed at skilling tech workforce; overhaul of teaching methodologies to align with contemporary needs; removal of financial barriers to access high-quality education; address job security amid rapid technological change.
Union Budget 2025 Expectations Live Updates: 'Govt will continue strong support for startups'
Union Budget 2025 Expectations Live Updates: Kunal Mudra, CEO & Co-founder of Electrifi Mobility anticipates the government will continue its strong support for India's startup ecosystem.
"We expect focused measures that include enhanced financial support mechanisms and simplified regulatory frameworks to further empower the sector… the sector now requires support in key areas such as infrastructure development and financing solutions," he noted.
Mudra anticipates: Creation of a conducive ecosystem to support and make EVs a viable and accessible option for consumers.
Union Budget 2025 Expectations Live Updates: Strike a balance between economic growth and social security
Union Budget 2025 Expectations Live Updates: The upcoming Union Budget is expected to strike a balance between economic growth and social security, feels VSRK Capital's Swapnil Aggarwal.
He feels the Budget will prioritise middle-class taxpayers, reduce compliance for businesses and foster an environment of growth and innovation. For the wealth management sector, the proposed regulations encourage long-term and short-term capital gains investments through favorable tax policies; while retirement planning is also set to receive a boost.
Union Budget 2025 Expectations Live Updates: For housing sector, policies to sustain growth anticipated
Union Budget 2025 Expectations Live Updates: According to Thomas Stopper, VP-Asia of Hansgrohe Group, the housing sector expects Finance Minsiter Nirmala Sitharaman to announce policies that "foster sustainable growth".
The outlook is to align industries such as premium lifestyle and home solutions for broader development, Stopper said, adding that one focus should be enhancing urban infrastructure.
Expectations include: Dedicated funds for sustainable housing projects, smart cities, and eco-friendly home solutions, tax incentives for manufacturers focused on sustainability, and lower GST on luxury home solutions.
Union Budget 2025 Expectations Live Updates: FM Nirmala Sitharaman's 8th Budget Speech
Union Budget 2025 Expectations Live Updates: Welcome to Livemint's live coverage ahead of the Union Budget 2025 announcement.
Finance Minister Nirmala Sitharaman's eighth Budget speech, likely next month, the industry is expecting significant announcements ranging from income tax breaks, GST rationalisation, industry-specific policies and more, aimed at reviving the economy and boosting consumer sentiments.
This will be Sitharaman's second full-fledged Budget in Modi 3.0, and her eighth budget presentation in Parliament. She has presented six annual and two interim budgets under the NDA government's consecutive terms in power.