Finance Minister Nirmala Sitharaman will present the Union Budget 2025 today, with expectations of income tax relief for the middle class. Experts predict the government will focus on boosting investment activities and improving private consumption to drive economic growth.
Key Expectations from the Budget:
- Tax Relief: Possible revision in income tax slabs to provide relief amid inflation and stagnant wage growth.
- Capital Expenditure: EY India anticipates a 20% increase in capital spending to boost economic activity.
- Fiscal Management: DBS Bank’s Radhika Rao suggests the government may avoid populist measures and prioritize fiscal consolidation for macroeconomic stability.
- Growth & Employment: The government is likely to focus on skill development and job creation to sustain long-term economic growth.
Expert Opinions:
- Rumki Mazumdar (Deloitte India): Government spending may increase post-elections, supporting economic expansion.
- D.K. Srivastava (EY India): Balancing fiscal discipline with growth initiatives will be the key challenge.
As Sitharaman presents her record eighth budget, the focus will be on managing fiscal deficit while accelerating economic growth.
