Back
PremiumUnion Budget 2025 Expectations Live Updates: In the Union 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.
Notably, Sitharaman completed her Pre-Budget Consultation with various industry stakeholders, unions and other representatives on January 6, ahead of begining work on Budget 2025-26.
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.
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.
Stock markets open on Budget day
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: India's manufacturing has a $2 trillion export target by 2030, and the sector is take up significance in the Union Budget 2025-26.
“We expect measures such as tariff rationalisation, duty exemptions, and expanded remission schemes to lower production costs and boost exports," according to Sunil Kalra, Partner- Governance, Risk, Compliance and Forensic Investigation Services, Forvis Mazars in India.
He also expects: simplified compliance procedures for foreign investments, targeted incentives for high-value manufacturing sectors like electronics and precision machinery, alongside support for labour-intensive industries such as textiles, footwear, and food processing; and adoption of Industry 4.0 technologies such as AI, digital twins, and 3D printing.
Union Budget 2025 Expectations Live Updates: The wealth management space is awaiting measures for tax relief, infrastructure growth, and ESG investments, in this Budget, according to Gurmeet Singh Chawla, Director of Master Capital Services.
Some moves that could significantly impact the sector include: raising the basic exemption limit for personal income tax — EY India has suggested an increase from ₹3 lakh to ₹5 lakh, to improve disposal incomes.
Streamlined capital gains tax structure across asset classes — Deloitte expects simplification of tax structure.
For investments, infrastructure development will be on the radar as the previous Budgets allocated ₹11.1 lakh crore for the purpose.
“There is an expectation for increased emphasis on renewable energy and green technologies, with incentives for green bonds or Environmental, Social, and Governance (ESG) investments," Chawla added.
Union Budget 2025 Expectations Live Updates: Pavan Choudary, Chairman, MTaI believes that high customs duty has significantly increased the cost of medical devices. This, he says, undermines the government’s efforts to make affordable healthcare accessible to the masses through initiatives such as Ayushman Bharat (PMJAY).
“We urge the government to consider reducing customs duty rates for products where domestic alternatives are not yet readily available," he stated.
Union Budget 2025 Expectations Live Updates: Domestic production of India's electronics industry is projected to reach $300 billion by 2026, fueled by government's initiatives such as Make in India, Digital India, and Skill India.
As such, Amit Khatri, Co-Founder of Noise believes that to sustain this trajectory, the government in this Budget must, “bolster manufacturing efforts though PLI, reduce import dependence, build infrastructure for components production, strategic investment in R&D."
Union Budget 2025 Expectations Live Updates: The government has taken initiatives to encourage organisations to adopt sustainable business practices, focused on renewables and energy efficient manufacturing and more.
Jeevaraj Pillai of UFlex believes the Budget will bolster sustainability in the packaging industry. He is hopeful of measures in the Budget, such as tax incentives on eco-friendly materials, subsidies for advanced recycling units, incentives for meeting Extended Producer Responsibility (EPR) targets, allowing investments in recycling under CSR, increasing the allocation to Urban Local Bodies (ULBs) for investments in Municipal Solid Waste (MSW), PLI for the packaging industry, R&D funding for sustainable packaging and incentives for biodegradable and plant-based alternatives.
Union Budget 2025 Expectations Live Updates: In tech and innovation spaces, Almond Ai CEO Abhinav Jain hopes this Budget includes “policies that accelerate AI adoption across industries".
Other expectations include: “More tax breaks, funding schemes, R&D grants for tech start-ups, investments in digital infrastructure and smart technology solutions; incentives for businesses driving green technology and sustainability; and fostering of AI and sustainability."
Union Budget 2025 Expectations Live Updates: Balachander Sekhar, Co-founder & CEO of RenewBuy said, "The Indian insurance sector is at the cusp of a new growth trajectory that needs policy intervention by the government. The Union budget 2025-26 provides excellent opportunities to pump up the insurance sector.
Hoping for a reduction in GST rates to make health insurance more affordable, an increase of tax exemption to encourage people to buy insurance policies that would ultimately provide security and long term capital, and rationalisation of capital gain taxation.
In addition, providing incentives for insurance in rural India will significantly impact expanding and promoting insurance in those areas where penetration is very low."
Union Budget 2025 Expectations Live Updates: Ashish Modani, Senior Vice President & Group Head - Corporate Ratings, ICRA Limited said, "The Union Budget 2025-2026 is expected to underscore the Government's continued dedication towards the National Infrastructure Pipeline (NIP) with critical focus on PM Gati-Shakti National Master Plan and Jal Jeevan Mission (JJM), among others.
ICRA expects the GoI’s capex to undershoot the FY2025RBE ( ₹11.1 trillion) by at least ₹1.0 trillion, though it would still remain higher than the capex outlay in FY2024 PA. Given the GoI’s continued thrust on infrastructure, ICRA expects capital outlay to witness 10-12% YoY growth in FY2026 BE.
The Road and the Railway segments will continue to account for a bulk of the allocation. The outlay towards JJM, urban infrastructure and affordable housing, however, is expected to witness healthy YoY growth in the upcoming budget."
Union Budget 2025 Expectations Live Updates: "The Union Budget 2025 is a pivotal opportunity to drive transformative change in Indian agriculture. As the sector faces increasing challenges from climate variability, resource constraints, and global competitiveness, this year’s budget must prioritize innovation, sustainability, and inclusivity.
Investments in agri-tech, particularly in AI, IoT, and satellite data integration, are crucial to empowering farmers with actionable insights. By making precision farming accessible to smallholders, we can enhance productivity while minimizing environmental impacts. Similarly, fiscal incentives for eco-friendly practices such as organic farming and water conservation will position Indian agriculture as a global leader in sustainable food production.
Digital connectivity in rural areas is another cornerstone for transformation. Improved internet access and digital literacy will enable farmers to leverage digital platforms ( for e.g- Sat2Farm) for real-time data on soil health, weather, and market trends. Additionally, support for climate-resilient farming, through research into hardy crop varieties and expanded insurance coverage, is essential to safeguard livelihoods.
By fostering public-private partnerships and scaling innovative solutions, the government can create a future-ready ecosystem where technology and sustainability converge to empower every farmer, ensuring India's agricultural sector thrives in the face of future challenges."
Union Budget 2025 Expectations Live Updates: "As India prepares for the Union Budget 2025, we find ourselves at a decisive moment in shaping the future of our cities and economy. 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. 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.
The last budget, presented just six months ago, gave significant attention to public infrastructure, while prioritizing sustainability as a key focus. This year, the momentum must continue, with sectors like railways, aviation, healthcare, hospitality, data centers and manufacturing taking center stage. These areas have immense potential to drive innovation, attract large-scale investments, create jobs, and transition India toward a greener model of development. As part of this transition, a wider promotion and integration of green building standards in both public and private sector construction can be an incremental yet impactful step toward embedding climate resilience into India’s urban landscape.
Public private partnerships too have been a central focus of the government. While the previous budget expanded the scope of large-scale PPP led projects, this year’s focus must include extending these opportunities to develop new urban centers, particularly in Tier 2 and Tier 3 cities. A collaborative model involving state governments, the central government, and private players could further support development that caters to region-specific needs, while also simplifying local regulations and streamlining project implementation. This approach will not only support the development of emerging cities but also ensure sustainability becomes the foundation of India’s growth story.
Moreover, as we focus on rapid infrastructure and sectoral development, we must prioritize skill development to build a robust human capital base capable of supporting the scale of growth we are striving for. A dedicated effort toward upskilling and reskilling, particularly in green-tech and building decarbonisation will ensure that India’s workforce is ready to meet the demands of evolving industries, fostering inclusive growth and enhancing employability in emerging sectors.
As a developing nation, India has a unique opportunity to embed climate resilience into our infrastructure and policies. This will allow us to balance economic growth with environmental responsibility, positioning India as a global leader in sustainable development. These efforts will not only address immediate goals but also move us closer to the vision of a Viksit Bharat by 2047."
Union Budget 2025 Expectations Live Updates: “The Union Budget 2025 holds immense significance for India’s manufacturing sector as the country strives to achieve its $2 trillion export target by 2030. To enhance global competitiveness, we expect measures such as tariff rationalization, duty exemptions, and expanded remission schemes to lower production costs and boost exports. Simplifying compliance procedures is also crucial to streamline operations and attract greater foreign investments. Targeted incentives for high-value manufacturing sectors like electronics and precision machinery, alongside support for labour-intensive industries such as textiles, footwear, and food processing, can drive rural development and create widespread employment. Additionally, fostering innovation through the adoption of Industry 4.0 technologies such as AI, digital twins, and 3D printing will position India as a hub for advanced manufacturing. We hope the budget introduces a visionary roadmap that propels the sector toward sustainability, agility, and leadership in global supply chains, fuelling inclusive economic growth."
Union Budget 2025 Expectations Live Updates: Naveen Tiwari, Co-Founder of Scrabble expects the Budget to be “futuristic, focused on driving economic growth and generating more employment".
“We expect the Union Budget 2025 to have provisions for upskilling and reskilling programs, ensuring India’s growing talent has access to world class modules and stays at par with global talent. The same will also promote innovation and ease recruitment norms, ensuring that India – and Indians – remains competitive in a rapidly evolving global landscape," he said.
Union Budget 2025 Expectations Live Updates: Fintech space has five priorities, believes BCG's India fintech practice leader Yashraj Erande.
Stating that this Budget comes “against the backdrop of a critical phase for India's financial sector", Erande has the following expectations: Enhance bureau's access to real-time credit data from lenders; regulations supporting partnership between fintech and financial infratech companies; focus on non-financial risk compliance; easier and more access to global capital; and encourage competition in banking system.
Union Budget 2025 Expectations Live Updates: As of date, there has been no official confirmation from the Centre or Finance Ministry yet, but, as per recent convention, Sitharaman is expected to present the Union Budget 2025 on February 1, at 11 am. However, there has been no official confirmation from the government.
This is the finance minister's second full-fledged Budget in Modi 3.0. Overall, this will be Sitharaman's eighth budget presentation in Parliament — having presented six annual and two interim budgets under the NDA's consecutive terms in power.
Union Budget 2025 Expectations Live Updates: Good morning and welcome to Livemint's coverage of the Union Budget 2025. We take a look at the new developments, sector expectations and other updates such as: when is the Budget announcement expected by FM Sitharaman? What time is the Budget speech? Where can I watch the Budget? and more.
Stay tuned for all the latest news!
