Vikrant Shekhawat : Feb 01, 2025, 10:06 AM
Union Budget 2025: Budget 2025 can be historic in many ways. The most important reason for this is that the country's Finance Minister Nirmala Sitharaman will become the first Finance Minister to present the eighth consecutive budget. Along with this, this budget can prove to be a big relief to the middle class of the country.Possible relief for taxpayersThe biggest expectation in this budget is about the change in the income tax slab. Experts believe that the income tax slab can be reduced or changed to provide relief to the middle class struggling with inflation and stagnant salary increase. This hope has gained further strength after Prime Minister Narendra Modi said that the upliftment of the poor and the middle class should be given priority.Measures to accelerate economic growthThe Finance Minister can make many important announcements to accelerate India's sluggish economic growth. Experts believe that there is a possibility of increase in government expenditure in this budget, which will strengthen economic activities.According to Rumki Majumdar, economist at Deloitte India, "The first quarter data points to a significant increase in private consumption and a slight improvement in investment activity. Government spending is likely to increase after the elections are over, which will support economic growth in the upcoming quarters."Capex likely to increase
Ernest & Young (EY) expects capital expenditure (capex) to increase by at least 20%. According to DK Srivastava, Chief Policy Advisor, EY India, "A combination of fiscal balance and growth measures will be necessary in the budget amid economic challenges."Radhika Rao, Senior Economist at DBS Bank, believes that the government can prioritize macro stability and avoid populist measures while staying on the path of fiscal consolidation.ConclusionThe general public has many expectations from Budget 2025. Relief in income tax, increase in government spending and decisions to accelerate economic growth can make this budget historic. Now it remains to be seen what announcements Finance Minister Nirmala Sitharaman makes in this budget to give a new direction to the country's economic development.
Ernest & Young (EY) expects capital expenditure (capex) to increase by at least 20%. According to DK Srivastava, Chief Policy Advisor, EY India, "A combination of fiscal balance and growth measures will be necessary in the budget amid economic challenges."Radhika Rao, Senior Economist at DBS Bank, believes that the government can prioritize macro stability and avoid populist measures while staying on the path of fiscal consolidation.ConclusionThe general public has many expectations from Budget 2025. Relief in income tax, increase in government spending and decisions to accelerate economic growth can make this budget historic. Now it remains to be seen what announcements Finance Minister Nirmala Sitharaman makes in this budget to give a new direction to the country's economic development.