Budget to offer blueprint of reforms under Modi 3.0
Subscribe to enjoy similar stories. New Delhi: The Union Budget for 2025-26 is expected to present a blueprint of reforms planned during Narendra Modi administration’s third term to boost investments and create jobs, besides outlining measures that states must take to ease business environment. Finance minister Nirmala Sitharaman’s roadmap will cover all aspects of production and technology, building on the ‘next generation reforms’ promised in July 2024 budget, according to two people informed about the discussions, who spoke on the condition of anonymity.
However, no changes are likely in corporate tax rates, the people said. The blueprint will require Centre to work alongside states, said one of the people quoted above. The government will nudge states to reform their stamp duty framework, licensing regime for businesses and their financial management, the person said.
Those lagging will be encouraged to adopt the best practices from fast-developing peers. To be sure, Central government has been using some of its fiscal support measures to states to nudge them to carry out reforms. The focus on state budgets also comes after a central bank's analysis in December flagged risks from state from farm loan waivers and free power to free transport and assistance to women.
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