by The Union Budget 2025 is highly anticipated, with various sectors sharing their expectations. Key highlights include:
- Financial Sector: Calls for strengthening digital infrastructure, simplifying credit access, and offering tax benefits for lower-middle-class consumers.
- MSMEs: Expects increased funding for renewable energy, green energy projects, and policies to reduce fossil fuel dependency.
- Travel & Tourism: Hopes for greater rural connectivity, sustainable tourism incentives, and support for startups.
- Housing: Aims for affordable housing reforms, increased tax deductions, and infrastructure status for the housing sector.
- Healthcare: Seeks reduced treatment costs, higher tax deductions for critical illnesses, and expanded dialysis services.
- Software Industry: Wants tax frameworks to boost innovation and R&D.
- AI & Tech: Expects investments in AI, 5G, cybersecurity, and digital infrastructure.
- EV Industry: Aims for extended FAME initiatives, reduced GST on EV manufacturing, and better charging infrastructure.
- Education: Focuses on STEM education and workforce development.
- Defence: Hopes for increased private sector participation and modernization.
- Pharma: Aims to reduce API dependency and promote green manufacturing.
- Real Estate: Seeks reduced GST, tax incentives, and rental housing support.
- Power & Energy: Wants increased investment in alternate sources like green hydrogen and solar technologies.
- Drones: Aims for tax exemptions, regulatory clarity, and R&D support.
- Tax Reforms: Expects reduced individual tax rates and equitable dividend taxation.
Expected Tax Slabs for 2025:
- 0-5 Lakhs: 0% Tax
- 5-8 Lakhs: 5% Tax
- 8-10 Lakhs: 10% Tax
- 10-15 Lakhs: 15% Tax
- 15-20 Lakhs: 20% Tax
- Above 20 Lakhs: 30% Tax
This proposed tax structure aims to reduce the burden on middle-income groups while maintaining progressivity in the tax system.
“Money grows on the tree of persistence.” – Japanese Proverb
