Nirmala Sitharaman will present the Union Budget 2025 on Saturday. (Source: PTI)
1 year ago
Jan 29, 2025
Finance Minister Nirmala Sitharaman will present the Union Budget 2025 — her 8th Budget presentation — in the parliament on Saturday, Feb 1, 2025. This is the Narendra Modi government's second full Budget for its third term. Ahead of the Budget announcements on Saturday, we bring to you the key updates around the expectations from the Union Budget this year. Stay tuned.
Runwal Realty's Director, Saurabh Runwal bats for the need for policy measures that enhance liquidity is critical, and this includes reducing long-term capital gains taxes, streamlining REIT regulations, and increasing interest rebates for housing loans.
"These reforms will drive both domestic and foreign investments, enabling developers to access capital more competitively, and homebuyers to realize their dreams of owning property, especially with the luxury market seeing a 51% growth in demand," he said.
Madan Sabnavis, Chief Economist of Bank of Baroda shared that the, starting point of the budget will be the fiscal deficit and efforts will be made to lower the ratio by 0.5% to probably close to 4.3-4.4% of GDP for FY26.
"Within this framework, the budget would work to maintain, if not increase capex, in the range of Rs 11 lakh crore that will provide a fillip to investment," he said.
Sabnavis highlighted that benefits for MSMEs and industry are also expected through the PLI scheme with probably a special dispensation for the former. "There could be some minor rationalisation in subsidy outgo through better targeting of beneficiaries. It would, however, be interesting to see if there are any special rebates offered on income tax given that consumption has been affected due to high inflation this year," he said.
"From the perspective of banks a more favourable tax slab for interest on bank deposits will help to provide a level field with equity markets and also provide incentive to deposit holders," he further said.
With nearly half of the Indian population expected to live in urban areas by 2030, the need for infrastructure that is both expansive and sustainable is more urgent than ever, shared Arun Awasthy, President & Managing Director, Johnson Controls India.
"This need for climate conscious infrastructure is not only critical as a response to environmental challenges but also as a deemed driver of long-term economic stability for the country," he said.
To meet the diverse demands of the growing economy, enhanced infrastructural development, streamlined regulatory processes, and incentives for creating state-of-the-art logistics parks and warehouses are essential said Anshul Singhal, Managing Director, Welspun One & Chairperson of ASSOCHAM National Council on Logistics and Warehousing.
"This is because warehousing is a cornerstone of efficient supply chain management that significantly impacts domestic and international trade by ensuring seamless storage and distribution," he further said.
All India Mobile Retailers Association has made some Union Budget suggestions on behalf of the mobile retailers in the country. In a letter, the association calls for reduction of GST on mobile phones, tax exemption for small retailers, easy access to Mudra loans, reduction of Merchant Discount Rate charges and supporting local initiatives.
With an additional 300 GW of renewables to be added over the next five years, the sector requires reforms that are not only future-oriented but also address the current challenges faced by the industry, according to Anmol Jaggi, Chairman and Managing Director, Gensol Engineering Ltd.
"This year’s budget presents a critical opportunity to drive a significant expansion in renewable energy capacity as we continue pursuing the 500 GW target by 2030," he said.
India’s logistics and transportation sector stakeholders eagerly anticipate measures to sustain and amplify the sector’s momentum, focusing on enhancing multimodal connectivity, improving last-mile logistics, and fostering technological innovation, said Dipanjan Banerjee, chief commercial officer, Blue Dart.
"Meaningful reforms and investments are essential to streamline operations, integrate green energy solutions, and create a resilient, future-ready ecosystem driving sustainable economic progress," he said.
A tight fiscal deficit, minimal freebies and high capital expenditure are on the wishlist of Ashish Bhandari, the managing director and chief executive officer of Thermax Ltd., from the upcoming Union Budget for financial year 2025-26.
Talking to NDTV Profit, Bhandari said that he is not expecting “too many big bang moves” from the budget this year.
Finance Minister Nirmala Sitharaman will present the Union Budget 2025 — her 8th Budget presentation — in the parliament on Saturday, Feb 1, 2025. This is the Narendra Modi government's second full Budget for its third term. Ahead of the Budget announcements on Saturday, we bring to you the key updates around the expectations from the Union Budget this year. Stay tuned.
