Budget 2025 Expectations Live Updates: Simplify Tax Structure To Ease ITR Filers Old Vs New Tax Regimes Dilemma

New Delhi: Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2025-26 in Parliament on 1 February 2025.

The Budget documents will be available on the Mobile App after the completion of the Budget Speech by the Finance Minister in Parliament on 1st February, 2025.

Mild cuts in personal Income Tax rates is expected to be announced in Budget 2025, believe analysts.

“We will watch for some sweeteners in personal tax rates, concessional corporate tax scheme for manufacturing hubs/FDIs, possibly higher import tariffs on China-sensitive products, while lowering custom duties on industrial intermediaries,” Emkay Global Financial Services states in its latest report

The upcoming Budget will come on the back of the government again overachieving its gross fiscal deficit target in FY25 at 4.7 per cent of the GDP vs 4.9 per cent in FY25 (RE) amid solid personal Income Tax revenue stream.

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30 January 2025

30 January 2025 21:22 IST

Budget 2025 Expectations Live Updates: Expanding Digital Infrastructure Across Governance, Education, and Healthcare

"As India stands at the cusp of a digital revolution driven by transformative technologies and connectivity, ensuring a secure and resilient digital foundation is not just an aspiration, it is a necessity. Cybersecurity must remain at the core of this progress. As digital infrastructure expands across governance, education, and healthcare, investing in cybersecurity frameworks, enhanced funding, and initiatives to combat emerging threats like deepfakes is critical" said Spokesperson: Harsha Solanki, VP GM – Asia, Infobip.

30 January 2025 20:03 IST

Budget 2025 Expectations Live Updates: Bolstering R&D to Drive Innovation and Supporting Startups

“The ₹10,300 crore allocation for the India AI Mission in March 2024 signaled India's commitment to AI at a crucial time. With AI projected to contribute $15.7 trillion to the global economy by 2030, the upcoming Union Budget 2025-26 must prioritize key areas to maximize Maharashtra’s potential. We believe this budget should focus on four pillars: first, bolstering R&D to drive innovation; second, providing financial support to empower startups and emerging businesses; third, advancing training and skill development to create a future-ready workforce; and fourth, enhancing digital infrastructure, including focused tech parks in strategic locations to attract and retain talent, while ensuring data privacy and extending digital outreach to Tier 2 and 3 cities for inclusive growth", said Naiyya Saggi, Spokesperson, Tech Entrepreneurs Association of Mumbai (TEAM).