Budget 2025 Expectations: Nirmala Sitharaman Marks Final Preparations With Traditional 'Halwa' Ceremony
Read all about likely announcements from Finance Minister Nirmala Sitharaman and public expectations, in the run-up to Union Budget 2025.
The Halwa Ceremony is a pre-budget tradition in which sweets are prepared in the Finance Ministry’s kitchen. (Photo source: X/@FinMinIndia)
Budget 2025 Expectations Live: HSBC Global Research Predicts Tax Rationalisation
HSBC Global Research expects some tax rationalisation— though not large cuts— an export push, better centre-state capex coordination, an extension of employment-linked benefits, and more clarity of structural reforms being pursued, in the upcoming budget.
Budget 2025 Expectations Live: Sitharaman Kicks Off Final Stage With 'Halwa' Ceremony
Finance Minister Nirmala Sitharaman attended the traditional 'halwa' ceremony on Friday, marking the start of the final phase in preparing the Union Budget 2025-26.
The Budget is scheduled to be presented on Feb. 1 in the Lok Sabha.
The ceremony was held in the basement of North Block, where the Ministry of Finance is located, with the finance minister and senior officials present.
Budget 2025 Expectations Live: Streamlined Regulatory Approval Process In Pharma Sector
"We anticipate that the upcoming budget will unleash the immense potential of the pharma sector, projected to reach $130 billion by 2030 and $440 billion by 2047. A streamlined regulatory approval process is essential to enhance investments and productivity," said Sushil Suri, Chairman and Managing Director, Morepen Laboratories.
We urge the government to expand the scope of the Production-Linked Incentive or PLI scheme to make it more accessible for the medical technology sector, thereby boosting our manufacturing capabilities.
Suri hopes for an unified regulatory framework will not only ease business operations but also attract substantial investments, fostering competitiveness within the industry.
"Timely approvals for new drugs, coupled with a focus on R&D investments, will empower companies to innovate and contribute to our goal of becoming self-reliant (Atmanirbhar). We look forward to a budget that prioritises these crucial aspects for the growth of our sector," he said.
Budget 2025 Expectations Live: Nomura Predicts Higher Gold Import Duties
Nomura expects that the government might impose higher gold import duties, increase the FDI limit on insurance and encourage capital inflows to support the rupee.
Budget 2025 Expectations Live: Tax Relief For Lower And Middle Class
Tax relief measures for lower- and middle-income households are anticipated, which could stimulate discretionary consumption, Bajaj Broking has said in a Budget 2025 expectations note.
Among the income tax relief for the middle class, the government is expected to raise the basic exemption limit under the new tax regime from Rs 3 lakh to Rs 5 lakh.
