Union Budget 2025 Expectations: In terms of key demand, experts said that tax payers are eagerly waiting for any potential changes that could offer relief. FM Nirmala Sitharaman will present the Union Budget on February 1.
Union Budget 2025 Expectations: With Finance Minister Nirmala Sitharaman all set to present Union Budget 2025 in the Lok Sabha on February 1, industry stakeholders, investors and the entire country, are looking at slew of measures to be announced. In terms of key demand, experts said that tax payers are eagehttps://www.financialexpress.com/budget/budget-2025-expectations-live-updates-fm-to-present-budget-on-feb-1-taxpayers-experts-expect-higher-deductions-lower-tax-outgo-3713621/rly waiting for any potential changes that could offer relief. There is also a strong demand for increased exemptions and deductions.
Rohinton Sidhwa, Partner, Deloitte, said, “In recent years, the government has undertaken several commendable initiatives to reform the direct tax landscape in India, including reduction in corporate tax rates, rationalisation of withholding tax rates, stabilisation of capital gains taxation, and resolution of legacy tax disputes. While these reforms have strengthened the foundation of the tax system, there remain opportunities for further refinement to promote ease of doing business and achieve greater administrative efficiency.”
Earlier on January 6, Nirmala Sitharaman finished her month-long consultations with industry and sector stakeholders that started on December 6, 2024.
Going with the traditional practice, the Budget will be announced on February 1, however, the central government is yet to give an official statement. Further, February 1 this year is falling on Saturday and with the Modi government following the trend of presenting the Budget on a Saturday to facilitate smooth parliamentary discussions and avoid weekday disruptions, it does not look like the Budget date will be changed.