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PremiumUnion Budget 2025 Expectations LIVE Updates: What do industries look forward to from Finance Minister Nirmala Sitharaman ahead of the upcoming Union Budget 2025?
Budget 2025 Expectations Live Updates: Pradeep Aggarwal, Founder and Chairman of Signature Global (India), said that adjustments to GST input tax credit regulations can potentially stabilize property prices, due to reduced developers’ tax burdens.
Budget 2025 Expectations Live Updates: Radhika Koolwal, Co-Founder of Urban Space, said that a GST rate cut towards home furnishing and decor items will be a significant step towards making quality products more accessible to the nation's increasing middle class.
“We hope for policies that incentivize domestic manufacturing, such as subsidies on raw materials and machinery, along with tax breaks for MSMEs and startups," said Koolwal.
Budget 2025 Expectations Live Updates: The Union Budget 2025-26 is expected to address key legal and financial challenges to improve the ease of doing business factor in the economy, said Dinesh Jotwani, Co-Managing Partner at Jotwani Associates.
“Strengthening judicial infrastructure, incentivizing alternative dispute resolution mechanisms, and introducing technology-driven reforms in courts could significantly improve access to justice," he said.
On the financial front, simplification of tax structures, rationalization of GST rates, and enhanced clarity in compliance requirements for professionals, startups, and MSMEs would bolster confidence in India’s legal and economic framework. Greater alignment between legal and financial policies will be crucial to sustaining investor trust and fostering innovation, said Jotwani.
Budget 2025 Expectations Live Updates: The Ministry of Statistics and Programme Implementation (MoSPI) expects India's GDP to grow at the pace of 6.4% in the financial year 2024-25, according to an official statement.
This growth is lower compared to 8,2% last year.
Budget 2025 Expectations Live Updates: Chief Election Commissioner on Tuesday, January 7, said, “There won't be any Delhi-related announcement in budget…".
Budget 2025 Expectations Live Updates: Manas Mehrotra, Founder, 315Work Avenue told Livemint that the coworking industry has emerged as a pivotal force in the modern work landscape.
He looks forward to lower GST rate for small-scale coworking clients; input tax credit under GST; lowering of stamp and registration duties; lower rate of TDS which will improve the working capital, among others.
Union Budget 2025 Expectations Live Updates: Pali Tripathi, CEO of Taabi Mobility told Livemint that the upcoming Budget has potential to “ propel India into the forefront of logistics technology by supporting the integration of emerging technologies like AI, IoT, robotics, automation, and 5G".
“We urge the government to prioritize the development of a National Technology Strategy for Logistics, enabling the seamless integration of cutting-edge technologies into the sector," Tripathi added.
He believes that focus on building technology-driven infrastructure, including smart logistics parks, IoT-enabled transport systems, and advanced port and highway technologies is key.
Union Budget 2025 Expectations Live Updates: Pradeep Aggarwal, Founder & Chairman, Signature Global (India) told Livemint that the real estate sector is “optimistic about reforms that can act as growth catalysts and enhance operational efficiency".
Among the revisions Aggarwal is looking forward to includes increasing tax exemption limit on housing loans to ₹5 lakhs, in line with rising property prices; granting of industry status to real estate; adjustments to GST input tax credit regulations to reduce developers’ tax burdens, and potentially stabilizing property prices and making housing more accessible, among others
Union Budget 2025 Expectation Live Updates: Taxation expert Harsh Bhuta, Partner at Bhuta Shah and Co LLP told Livemint he looks forward to “promised comprehensive review of the Income-Tax Act" making it “concise, lucid, easy to read and understand" and thereby less complicated.
Among his suggestions include: fast track appeals pending at first appellate stage, with focus on disposing old appeals in a time bound manner and introduction of dedicated dispute resolution mechanism, reduced tax rates for existing taxpayers by broadening base among others.
Union Budget 2025 Expectations LIVE Updates: Good morning and welcome to Livemint's LIVE coverage of the upcoming Union Budget 202. Ahead of the Budget expected in February, we take a look at what the industries look forward to from Finance Minister Nirmala Sitharaman in this iteration.
Stay tuned for the latest news, views and more.
