Nirmala Sitharaman will unveil the final preparations for the 2025 budget with a halwa ceremony today. This time, many hope, the budget, which will be presented just ahead of the crucial Delhi polls, will be as sweet as the halwa.
The preparations for Budget 2025 is underway in full swing, with just a week left for Finance Minister Nirmala Sitharaman to present the much-awaited financial papers. Amid the final arrangements, sources told News18 that citizens earning below Rs 10 to 15 lakh annually are likely to get tax benefits.
In addition to this, MSMEs and infrastructure push will be the focus of the Budget to increase employment. Sops are also on the cards for employees affected by the enhanced use of artificial intelligence (AI).
Tax Relief For Middle Class: Government sources highlighted that those in the salary bracket of 10 to 15 lakh rupees a year are expected to get substantial respite. With this, the government hopes that spending power will increase, which in turn will keep the economic machine going.
Benefits For Infrastructure Sector & MSMEs: The next focus will be the infrastructure sector, with a special focus on MSMEs. Sources say the budget aims to give incentives and tax relief to infrastructure sectors like hospitality, manufacturing, and possibly real estate. As per government sources, the infrastructure sector is set for robust growth, with planned investments set to increase further. Railways, roads, urban development, and power will be the key focus areas. And, of course, as always, MSMEs will get special attention.
Concern Over Artificial Intelligence (AI): Another important aspect that the budget is expected to address is artificial intelligence (AI). There is concern over job losses on this front, but the government also accepts the reality that AI is here to stay. Benefits for this sector, to ensure that Indian companies can keep pace with global competition, will be ensured in the budget.
Government sources have released figures comparing the difference in growth stories between the UPA era and the present time. For example, while the average monthly per capita consumption expenditure in 2011-12 was Rs 1,430, in 2023-24 it was Rs 4,122 in rural areas, while in urban areas, it was Rs 6,996, compared to Rs 2,630 during the UPA administration. Budget 2025 seeks to keep this growth story intact.
