Budget 2025 Financial News

India Inc. has a long wish list for union finance minister Nirmala Sitharaman for the upcoming budget on Feb 1. Decisive reforms to revitalise consumption and jobs, tax certainty, and incentives to attract fresh investment top the list. A look at the key budget expectations

decarbonising hard-to-abate sectors such as thermal power, iron and steel, and cement plants, people familiar with the matter told ET. The contours of the mission are being firmed up and an announcement could be made in the February budget, they said. This mission will be in line with India's goals to halve carbon emissions by 2050 and attain netzero emissions by 2070. «Discussions are on, on the contours of the mission… details are being worked out,» a senior government official said. A committee under the chairmanship of the Central Electricity Authority (CEA) is in place for defining the requirement and timeline of this mission and scheme needed to implement the goals, the person said.Asecond official said two meetings of this committee have already taken place.

Subscribe to enjoy similar stories. Non-resident Indians play a vital role in India’s economic and social progress, significantly contributing to the country’s growth through remittances, investments, entrepreneurship, and international trade. As the Union Budget for 2025-26 approaches, NRIs will be looking for clarity on certain rules as well as incentives and reforms that could strengthen their contribution to India’s economic landscape.

Amnesty Scheme for customs to foster ease of doing business. «The main asks of the industry would certainly be aligned with the objectives of the government and one objective of the government has been litigation reduction. On that front, having an amnesty scheme for customs especially covering pre-GST legacy taxes like additional duty, special additional duty has been one of the asks of the industry,» Price Waterhouse & Co LLP managing director Anurag Sehgal said. The government had in the past announced amnesty schemes for excise and service tax and even for the income tax but not for customs. There are estimates that over 40,000 cases were pending in various courts and tribunals pertaining to customs duty alone.

Union Budget: As India plans to work towards being a viksit nation by 2047, industry body Confederation of Indian Industry (CII) has put forward a 10-point specific suggestion before Prime Minister Narendra Modi-led government for the upcoming Budget 2025 to enable ease of doing business. As per the industry body, all regulatory approvals — central, state and local levels — must mandatorily be provided only through the National Single Window System (NSWS), which they believe will help bring about transparency and speed in the processes. In the first stage, CII suggested that it should be completed for all central ministries within the next six months, followed by bringing on the platform, states, in a phased manner. A dedicated central budget could be allocated for the purpose, especially from the point of view of incentivizing states to shift completely to the portal. Read More: Budget 2025 can position India as the world’s China Plus One hub with manufacturing prowess

Subscribe to enjoy similar stories. New Delhi: The Union government is looking to fire up manufacturing activity—a crucial engine of economic growth that’s significantly slowed—by announcing factory clusters near major infrastructure projects and changes to tax and customs duties in the upcoming Budget.

BJP, despite its dominant presence nationally, managed only eight seats. One thing common between then and now is the timing of these elections—right after the Budget, set to be presented by the incumbent BJP. Now, as Delhi heads to the polls once again in February 2025, the stakes couldn’t be higher. The BJP may or may not have been betting big on a transformative budget to sway Delhi voters, promising to revolutionise the city’s infrastructure, transport, and housing. However, dousing the fire of the saffron party, the Election Commission’s recent warning against the use of the Budget for Delhi-specific schemes has set the stage for a contentious political showdown.

Budget 2025 approaches, Non-Resident Indians (NRIs) are keenly watching for reforms that could make India a more attractive destination for their investments. By addressing key challenges in taxation and simplifying regulatory processes, the budget has the potential to boost inward remittances and encourage NRIs to invest more confidently in India.

GDP) growth remains a central focus in economic discussions. Budget 2025 will be the second budget to be presented by Sitharaman during her second tenure as the finance minister in the PM Modi-led central government.

Union Budget 2025 Expectations Live Updates: The industries are looking forward to the Union Budget 2025 and expecting changes from Finance Minister Nirmala Sitharaman.What do industries expect from Finance Minister Nirmala Sitharaman ahead of the upcoming Union Budget 2025? Take a look.The Finance Minister is expected to present the Union Budget 2025 on February 1, 2025, at 11 a.m. However, there has been no official confirmation from the government.

government capital expenditure, personal income tax relief, and targeted measures to spur manufacturing and integrate local industries into global value chains can provide the much-needed impetus for growth, Confederation of Indian Industry (CII) president Sanjiv Puri said on Wednesday.

Union Budget 2025 Expectations LIVE Updates: What do industries look forward to from Finance Minister Nirmala Sitharaman ahead of the upcoming Union Budget 2025?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.

MGNREGA to 200 days of work, expediting GST refunds, and a comprehensive manufacturing policy to check Chinese imports in their pre-budget consultations with Nirmala Sitharaman.

Subscribe to enjoy similar stories. Foreign direct investment (FDI) inflows into India—investments by foreign entities in domestic businesses—hold the potential to transform the economy. They act as a catalyst for enhancing competitiveness and channel much-needed capital into underinvested sectors, such as semiconductors, where domestic companies have been hesitant to venture.

Budget 2025: The financial sector, especially banks on Thursday made a case for tax sops in the upcoming Budget for fixed deposits to support savings which have seen reduction in recent past. Suggestions regarding improving efficiency of capital markets and increasing capital market inclusion were also made during the pre-Budget meeting with Finance Minister, Edelweiss Mutual Fund MD & CEO Radhika Gupta told reporters here.

Budget 2025, Finance Minister Nirmala Sitharaman faces mounting pressure to reduce income tax rates, particularly for the middle class.

In an interview with ETMarkets, Bharadia said: “Dual taxation through STT and capital gains taxes may deter retail participation and shift investments elsewhere,” Edited excerpts:

India Budget Tax Cut: India is considering cutting income tax for individuals making up to 1.5 million rupees ($17,590) a year in February's budget to provide relief to the middle class and boost consumption as the economy slows, two government sources told Reuters.