Budget 2025 Expectations Live Updates: Will Finance Minister Nirmala Sitharaman simplify taxes, hike exemption limits

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Budget 2025 Expectations Live: Finance Minister Nirmala Sitharaman will table the Union Budget 2025 in the Lok Sabha on February 1 at 11:00 am. 


Union Budget 2025 Expectations Live Updates: With Finance Minister Nirmala Sitharaman all set to table the Union Budget 2025 in the Lok Sabha on February 1 at 11:00 am, citizens and industry leaders across segments are betting on a slew of measures to be announced that would set the country on a path of sustainable growth. However, an official statement from the central government is still pending. This would be the second full budget of Modi 3.0, and the eighth straight Budget to be presented by Nirmala Sitharaman.

Income tax relief is one of the key announcements that most are looking forward to, besides the demand for tax holidays and GST exemption by a host of industries. The insurance sector, meanwhile, is calling for key reforms aimed at improving penetration of health insurance and making it more affordable. Industry leaders are pushing for reductions in GST on health insurance premiums, increased tax exemptions, and the establishment of a dedicated health regulator to combat rising medical costs.

FM Nirmala Sitharaman is also facing the challenge of balancing fiscal prudence with the need to address key voter demographics.

The finance minister, on January 6, finished her month-long consultations with industry and sector stakeholders that started on December 6, 2024. “The consultations started on December 6, 2024. In the course of the in-person consultations, more than 100 invitees across 9 stakeholder groups, including experts and representatives from farmer associations & agriculture economists; trade unions; education & health sector; MSME; trade & services; industry; economists; financial sector & capital markets; as well as, infrastructure, energy and urban sector, participated in the meetings,” said a Finance Ministry statement.

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