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Union Budget 2025 Highlights & Expectations

Union budget 2025 expectations live updates. Will FM Sitharaman offer tax cuts to boost consumption? Union Budget 2025 Updates, India Budget Expectations.

By Vijay Yadav
New Update
Union Budget Highlights 2025

Budget 2025 Expectations Live Updates: Will FM Nirmala Sitharaman lower income tax rates to boost consumption, GDP growth? Budget 2025 expectations live updates: Will Finance Minister Nirmala Sitharaman present a Budget that will boost consumption, bring GDP growth back on track and also provide income tax relief to the common man and the salaried income taxpayers? Every Budget, the middle class looks to the Finance Minister to reduce income tax.

Finance Minister Nirmala Sitharaman will present the Union Budget 2025 in Parliament on February 1, 2025. She will deliver the budget speech at 11 AM. The speech will be streamed on Parliament's official channels.

A budget for the aspirations of poor farmers, women, and youth: PM Modi.

A new scheme for women entrepreneurs, loans up to 20 crores for export MSMEs, major announcements in the budget.

๐Ÿš€ย Big Boost for Indian Startups!ย ๐Ÿš€ Finance Minister Nirmala Sitharaman stated that the government will arrange a fund for startups with a contribution of โ‚น10,000 crore. She also mentioned that for the first time, the government will provide loans of โ‚น2 crore to 5 lakh women, SC, and ST entrepreneurs.

๐Ÿš€ Boost for MSMEs, Startups, and Employment in Budget 2025 ๐Ÿš€

MSMEs, Entrepreneurship & Employment: Credit Guarantee Enhancements

  • Micro/Small Enterprises: Credit cover raised to โ‚น10 crore, with โ‚น1.5 lakh crore additional credit over 5 years.
  • Startups: Cover doubled to โ‚น20 crore, 1% fee for 27 focus sectors.
  • Customized Credit Cards: โ‚น5 lakh limit for 10 lakh micro-enterprises on Udyam portal.
  • Fund of Funds for Startups: โ‚น10,000 crore corpus.
  • Footwear & Leather Sector: โ‚น4 lakh crore turnover target, 22 lakh jobs, and duty exemption on wet blue leather.
  • Gig Workers: Identity cards and healthcare under PM Jan Arogya Yojana for 1 crore workers.

Focus Areas in Budget 2025

  • Infrastructure Development: Details on allocations for roadways, railways, ports, and urban housing.
  • Healthcare and Education: Investments in public healthcare infrastructure and digital education initiatives.
  • Green Economy Initiatives: Allocations for renewable energy projects and sustainability efforts.

Technology and Digital India

  • Expansion of Digital Payments Infrastructure.
  • AI, machine learning, and robotics initiatives for public services.
  • Support for startups in tech and innovation sectors.

Social Welfare Programs

  • Increased funding for flagship programs like MGNREGA and PM Kisan.
  • New measures for women, children, and marginalized communities.

Economic Growth Targets

  • GDP growth projections and fiscal deficit estimates.
  • Policy measures to boost private investment and exports.

Expert Analysis and Public Reactions

  • Economic Experts: Insights on the feasibility and impact of the budget measures.
  • Industry Leaders: Reactions from key sectors such as manufacturing, IT, and agriculture.
  • Public Opinion: Quotes and surveys reflecting the sentiment of common citizens.

Conclusion - Budget 2025

Summarize the overarching vision of the Union Budget 2025. Highlight its alignment with Indiaโ€™s long-term goals, such as becoming a $5 trillion economy, and encourage readers to explore the detailed implications in various sectors.

FAQs

What is Direct Tax?
Direct tax is the tax that people pay directly to the government. This tax is levied on income. It includes income tax, wealth tax, and corporate tax.
What is Indirect tax?
Indirect tax is the tax levied on a product or service. It includes excise duty, customs duty, service tax, and GST.
What is Fiscal Deficit
Fiscal Deficit refers to the shortfall in a government's revenue compared to its total expenditure. In simple terms, when a government spends more money than it earns through taxes and other revenue sources, the difference is called a fiscal deficit. Formula: ๐Ÿ“Œ Fiscal Deficit = Total Expenditure โ€“ Total Revenue (excluding borrowings) To cover this deficit, the government borrows money from the market, foreign institutions, or the central bank. A high fiscal deficit may indicate excessive government borrowing, which can impact economic stability.
What is Financial Year?
Financial Year (FY) is a 12-month period used by governments, businesses, and individuals for accounting, tax assessment, and financial reporting. In India, the financial year runs from April 1 to March 31 of the following year. For example, FY 2024-25 starts on April 1, 2024, and ends on March 31, 2025. This period is different from the calendar year (January to December) and is crucial for tax filing, budgeting, and financial planning.
What is GDP?
GDP (Gross Domestic Product) is the total monetary value of all goods and services produced within a country's borders in a specific period, usually a quarter or a year. It is a key indicator of a nation's economic health and growth.
How many types of GDP?
Four Types of GDP: 1๏ธโƒฃ Nominal GDP โ€“ Measured at current market prices, without adjusting for inflation. 2๏ธโƒฃ Real GDP โ€“ Adjusted for inflation, showing the true economic growth. 3๏ธโƒฃ GDP per Capita โ€“ GDP divided by the population, indicating the average economic output per person. 4๏ธโƒฃ Gross National Product (GNP) โ€“ Includes GDP plus income earned from abroad.
What is Formula for GDP?
Formula for GDP: ๐Ÿ“Œ GDP = Consumption + Investment + Government Spending + (Exports โ€“ Imports) A rising GDP indicates economic growth, while a declining GDP may signal economic trouble.
What is Finance Bill?
Finance Bill is a proposed law presented in Parliament along with the Union Budget. It contains provisions related to taxation, government revenue, and financial matters. It includes changes in income tax, customs duty, excise duty, and other financial regulations. Once approved by both Houses of Parliament and signed by the President, it becomes an Act. The Finance Bill is essential for implementing the government's budget proposals and fiscal policies.
What is Budget Estimate?
Budget Estimate refers to the projected or planned financial expenditure and revenue for a specific period, usually a financial year. It outlines the anticipated income and expenditure of the government or an organization, including funds allocated for various sectors and programs. The budget estimate serves as a guideline for managing finances, helping to allocate resources and plan for economic activities. It is typically presented as part of the overall budget in a country's financial planning.
What is New Tax Regime?
New Tax Regime refers to a revised tax structure introduced by the government to simplify the taxation system. Under this regime, individuals have the option to pay taxes at lower rates but without claiming most of the exemptions, deductions, and rebates available in the old tax regime. The goal of the new tax regime is to offer simpler tax filings with reduced compliance requirements, although taxpayers may need to choose between the new regime and the older one based on their financial situation.

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