Union Budget 2025 Expectations Live Updates: Industry watchers are awaiting a host of measures from Finance Minister Nirmala Sitharaman. From ordinary taxpayers, to tech, healthcare, insurance, and finance sectors, hopes are high for from income tax slabs, GST rationalisation, infrastructure allocation, and regulatory updates, to address economic distress and consumer sentiment.
Union Budget 2025 Expectations Live Updates: Industry watchers are awaiting a host of measures from Finance Minister Nirmala Sitharaman. From ordinary taxpayers, to tech, healthcare, insurance, and finance sectors, hopes are high for from 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.
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.
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.
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."
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.
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.
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