Union Budget 2025 LIVE updates | India Inc's wishlist for FM Sitharaman’s budget; Industry expectations soar
Union Budget 2025 LIVE updates | India Inc's wishlist for FM Sitharaman’s budget; Industry expectations soar
Union Budget 2025 LIVE Updates: Finance Minister Nirmala Sitharaman will present the Union Budget for the 2025-26 fiscal year on Saturday, February 1. Stock markets will remain open that day, allowing investors to react to the announcements in real time.
Gems & Jewellery Sector Seeks Tax Relief
The gems and jewellery industry is pushing for a GST reduction to 1% to ease financial burdens. “We urge rationalized taxes and better access to finance,” stated Rajesh Rokde, Chairman of the All India Gem and Jewellery Domestic Council. Rising gold prices and the current GST rates are impacting both businesses and consumers.
Election Commission Weighs in on Delhi Provisions
The Election Commission has informed the Cabinet Secretary that no Delhi-specific provisions should be included in the Budget to maintain a level playing field ahead of upcoming elections, said Chief Election Commissioner Rajiv Kumar.
Fintech Hopes for Transformative Growth
The fintech sector is optimistic about policy support for digital infrastructure, credit access, and sustainable practices. Jitin Bhasin, CEO of SaveIn, highlights the role of AI, embedded finance, and blockchain in driving growth.
Automotive Sector Expects EV Push
Muskan Kakkar, COO of GoMechanic, anticipates increased funding for EV infrastructure and tax incentives for green tech. Upskilling for next-gen vehicles and AI integration are also seen as critical for industry growth.
Public Participation Invited
Citizens can share their Budget suggestions on the MyGov platform starting January 10, fostering greater public involvement in shaping policies.
Pre-Budget Consultations Wrap Up
Over 100 stakeholders from sectors including agriculture, health, MSMEs, and energy participated in discussions with the Finance Ministry to offer diverse perspectives.
Real Estate Sector Calls for Reforms
Real estate leaders are advocating for a higher tax deduction limit on home loan interest (from ₹2 lakh to ₹5 lakh) and a broader definition of affordable housing to boost demand and affordability.
Mutual Funds Industry Seeks Tax Revisions
The AMFI has proposed a rollback of the capital gains tax hike to encourage investments in mutual funds, aiming to increase participation in debt and equity markets.
Healthcare Sector’s Wish List
Key expectations include addressing medical specialist shortages, reducing cancer care costs, and investing in hospital infrastructure to meet the growing population's needs.
Startups Seek Policy Boosts
Advait Kumar, Founder of Boon, hopes for policies supporting AI, IoT, and quantum computing to accelerate startup growth and innovation.
