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Budget 2025 Expectations Highlights: Income tax slabs, rates to be revised under new tax regime? FM Sitharaman may push consumption growth, record capex

Budget 2025 expectations LIVE updates: Finance Minister Nirmala Sitharaman’s second full Union Budget for the Modi 3.0 government ...

The Times of India | Jan 30, 2025, 23:00:00 IST

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23:00 (IST), Jan, 30

Budget 2025 Expectations Live: What insurance industry wants from Union Budget

“The insurance sector, in particular, is closely watching this budget, not only for the potential regularisation of tax provisions but also for the rationalisation of certain regulatory changes. With the implementation of IndAS 117 on insurance contracts, insurers will be required to enhance the transparency of their financial statements and performance. This new framework will bring challenges related to the application of the current value approach for measuring insurance contracts, which could impact the estimation of future cash flows, unearned profits spread over the term of contracts, and risk management practices associated with each insurance policy. As these elements are reflected in insurers’ financial statements, they would also have a direct impact on the taxation as life insurance companies, which are taxed based on the surplus determined by actuaries. To address these challenges, the Budget 2025 should introduce a holistic tax regime that aligns with these new financial reporting standards.

As the insurance sector continues to innovate with new products, meets customer expectations, and adopts more sophisticated risk management practices, it is essential that policymakers create a robust, conducive environment for the industry. This will help safeguard the interest of policyholders and empower insurers to scale-up their operations, extending their reach to even the most underserved segments of the population,” says Manoj Purohit, Partner & Leader, FS Tax, Tax & Regulatory Services, BDO India.

22:30 (IST), Jan, 30

Budget 2025 Expectations Live: Focus on ‘green growth’

“With renewable energy emerging as a cornerstone of India’s energy security and climate resilience, the Union Budget 2025 presents a pivotal opportunity to reinforce the nation’s commitment to ‘green growth.’ It is essential for policy measures to ensure sustained financial support and industry incentives, enabling the sector to maintain its impressive growth trajectory.

We remain optimistic about the potential introduction of long-term tax incentives. Expedited land acquisition processes and streamlined approval mechanisms for large-scale renewable energy initiatives are equally crucial to accelerate India’s progress toward its net-zero commitments.

As India takes a leading role in the global climate action agenda, we believe that Budget 2025 can unlock greater investments, foster technological innovation, and empower communities with clean, affordable energy solutions. A clear roadmap for energy storage solutions and grid modernization will be essential in addressing intermittency and scalability challenges, ensuring the resilience and sustainability of the renewable energy ecosystem,” says Amit Jain, CEO & Country Manager, ENGIE India.

22:00 (IST), Jan, 30

Budget 2025 Expectations Live: Modern warehousing infrastructure needs targeted incentives

“As we approach the upcoming Union Budget, the logistics sector anticipates reforms and investments that will accelerate its modernization and strengthen India’s position in logistics sector world wide. Key expectations include enhanced allocations for infrastructure development, with a focus on last-mile connectivity and multi-modal logistics parks (MMLPs) as part of the PM GatiShakti plan, which aims to develop over 35 MMLPs with investments exceeding ₹50,000 crore. Modern warehousing infrastructure needs targeted incentives, as the market is projected to grow to ₹2.8 lakh crore by 2025.

We also look forward to simplified regulatory frameworks and increased incentives for technology adoption, including AI-driven logistics solutions and automated systems, which could reduce logistics costs from 14% of GDP to a globally competitive 8-10%. Supporting EV infrastructure for green logistics will align with the government’s target to achieve 30% EV penetration by 2030. Favorable GST reforms and streamlined compliance will enhance competitiveness for India’s 63 million MSMEs, making this sector more efficient and future-ready,” says Ravi Goel, CBO, RapidShyp.

21:30 (IST), Jan, 30

Budget 2025 Expectations Live: What Budget can do for GCCs

"As India strengthens its position as a global hub for Global Capability Centers (GCCs), targeted fiscal and policy measures could further accelerate the sector’s growth. Simplifying the company registration process specifically for GCCs would reduce setup timelines, enabling faster investments and operations. Extending tax incentives, such as a 15% concessional tax rate, would foster innovation and attract global organizations to establish and scale their operations in India. Additionally, raising the threshold for Safe Harbour Rules would level the playing field for mid-sized GCCs, which are critical to driving the next wave of growth.

A uniform, centralized GCC policy could further enhance India’s appeal by streamlining compliance and creating a predictable environment for investors. With over 1,700 GCCs already employing 1.9 million professionals and projected revenues exceeding $100 billion by 2030, these reforms could solidify GCCs as a cornerstone of India's economic future and global leadership,” says Lalit Ahuja, CEO, ANSR

21:00 (IST), Jan, 30

Budget 2025 Expectations Live: Reduce income tax for individuals earning up to Rs 50 lakh

“The fintech sector eagerly looks to the Union Budget for policies that drive innovation, financial inclusion, and digital transformation. Key priorities include tax parity between capital gains on listed and unlisted securities to boost startup investments and revised taxation structures to ease operations for startups and fintech firms.

Reducing personal income tax for individuals earning up to ₹50 lakh can increase disposable income, spurring consumption and investment. Rationalizing GST rates and easing compliance burdens for businesses, especially MSMEs, will streamline operations and fuel growth.

Enhanced funding for financial literacy programs and rural digital infrastructure will extend the reach of digital finance. Simultaneously, ramping up infrastructure spending is essential to improve connectivity, logistics, and the overall ease of setting up and scaling businesses in the country’s growing digital economy.

Expanding regulatory sandboxes for blockchain and AI-driven platforms will foster innovation while safeguarding consumers. Simplified norms for digital payments and incentives to extend UPI’s global reach can position India as a fintech powerhouse. Additionally, a robust focus on data privacy and improving credit access for MSMEs will further accelerate growth.

A progressive, fintech-focused budget, backed by increased infrastructure investments, has the potential to transform India’s digital economy into a resilient, future-ready ecosystem,” says Rohit Beri, CEO and CIO, ArthAlpha.

20:30 (IST), Jan, 30

Budget 2025 Expectations Live: Taxability of Alternative Investment Funds

“Budget 2025 could significantly enhance investor confidence and operational efficiency for AIFs. We anticipate upcoming Budget would ensure that investors are taxed on actual net income rather than gross pass-through income. Another highly expected move is the introduction of pass-through regime for Category III AIFs which would enhance cash availability at the AIF level and likely improve the Internal Rate of Return (IRR) at the fund level. This may potentially expand the base for performance fee calculations and increased cash inflows for fund managers.

Reforms such as aligning tax liabilities with actual cash distributions, allowing deductibility of operational expenses, and extending pass-through taxation to Category III AIFs would not only improve cashflow management, but also position India as a more attractive destination for alternatives. These measures would foster a fairer, more investor-friendly regulatory environment and ultimately supporting the growth of the AIF sector,” says Manoj Purohit, Partner & Leader, FS Tax, Tax & Regulatory Services, BDO India.

20:00 (IST), Jan, 30

Budget 2025 Expectations Live: Auto Industry expects GST reforms

As India prepares for the Union Budget 2025, the automotive industry anticipates crucial policy measures that could shape its future trajectory. This sector is looking for innovative reforms that would aid the moving toward the electric vehicle (EV) pivot and also bolster the supply chain, local manufacturing, and enhance local manufacturing, and improve overall infrastructure. Read full story here:

19:30 (IST), Jan, 30

Budget 2025 Expectations Live: Encourage eco-conscious consumption

"As India increasingly embraces sustainable luxury, this year's Union Budget presents a valuable opportunity to encourage eco-conscious consumption. By fostering an environment that supports sustainable businesses and innovation, particularly in sectors like lab-grown diamonds, we can create a thriving ecosystem for luxury brands. Simplified regulations and forward-thinking policies will enable brands to flourish in an evolving market, helping India strengthen its position as a leader in environmentally responsible luxury while promoting a new era of conscious consumerism,” says Ricky Vasandani, Co-founder and CEO of Solitario.

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19:00 (IST), Jan, 30

Budget 2025 Expectations Live: Fast-track India’s journey toward renewable energy

“With the Union Budget on the horizon, we anticipate measures to fast-track India’s journey toward achieving its 500 GW renewable energy capacity by 2030. Extending the concessional 15% tax rate under Section 115BAB by five years would be a significant boost. Addressing long-term financing challenges is equally critical—reinstating lower withholding tax rates on external commercial borrowings and INR-denominated bonds could ease debt-raising for renewable projects.

On indirect taxation, GST exemptions for corporate guarantees to secure project SPV loans and classifying Renewable Energy Certificates and Carbon Credits as GST-exempt securities would provide much-needed relief.

Additionally, reconsidering the RBI’s draft circular on increased provisioning for infrastructure projects and creating a dedicated priority sector lending category for renewable energy could enhance funding access and reduce costs for the sector,” says Shyam Sharma, CFO of O2 Power.

18:30 (IST), Jan, 30

Budget 2025 Income Tax Expectations Live: Top personal tax changes on the wishlist

Budget 2025 Income Tax Expectations Live: In the recent years, several directional changes have been introduced in the personal tax landscape. These changes reflect the government's efforts and intent to streamline tax regimes, incentivize savings, and enhance the digital experience for taxpayers. Keeping up with the said intent, few expectations/wishlist from the upcoming Budget are:

18:00 (IST), Jan, 30

Budget 2025 Expectations Live: Give tax incentives for insurance premiums

“As we await the Union Budget 2025, the general insurance industry eagerly anticipates policy initiatives that will propel insurance penetration across India. We expect the government to introduce tax incentives for insurance premiums under Section 80C and 80D, as well as separate tax deductions for home and motor insurance. Rationalizing GST rates on insurance products will enhance affordability and accessibility.

We also hope for investments in digital infrastructure development, facilitating innovative insurance solutions for SMEs, agriculture, and other underserved sectors. Such initiatives will not only boost the industry's growth but also contribute significantly to India's economic resilience. By encouraging insurance adoption, the government can empower citizens to mitigate risks, ensuring a more secure and stable future. We look forward to a budget that prioritizes insurance penetration and innovation, driving growth and prosperity for all,” says Rakesh Jain, CEO, Reliance General Insurance.

17:30 (IST), Jan, 30

Budget 2025 Expectations Live: Focus on ambitious net-zero goals

"As India advances towards its ambitious net-zero goals, the upcoming Union Budget presents a critical opportunity to strengthen the renewable energy ecosystem. We urge the government to support the sector by absorbing part of the incremental costs associated with building transmission infrastructure necessary to accommodate increasing renewable capacity. This will help reduce the cost of delivered renewable power for customers. Additionally, we request the government to consider providing concessional financing for projects, particularly hybrid solutions integrating wind, solar, and storage,” says Akshay Hiranandani, CEO, Serentica Renewables.

17:00 (IST), Jan, 30

Budget 2025 Expectations Live: Increase tax deductions for homebuyers

“2024 was an exciting year for the real estate sector, and we’re optimistic that 2025 will continue that momentum. As we approach the Union Budget 2025-26, there’s hope for meaningful reforms that address the industry’s challenges. We are expecting that the government would increase tax deductions for homebuyers and developers, especially for affordable housing, which could revive demand amidst high interest rates.

For Commercial Real Estate, tax incentives for green and sustainable projects could attract global interest and fuel development. Further, infrastructure investments in Tier 2 and Tier 3 cities will open up fresh opportunities.

Ultimately, a budget that focuses on criteria like ease of doing, attracting both domestic and foreign investments will help create a more resilient and sustainable real estate ecosystem for all involved—developers, investors, and homebuyers,” says Srishti Dhir, Founder at Hub and Oak.

16:30 (IST), Jan, 30

Budget 2025 Expectations Live: : Will gold be made more affordable for middle class?

The dealers are awaiting the finance ministry’s nod for a mechanism that permits buying gold through EMI in the wake of staggering prices and allocating funds for upskilling the artisans. Additionally, they are also calling for a single regulator for the gold market which, at present, is regulated by SEBI, RBI, DGFT, Ministry of Finance and Ministry of Commerce. Read full story here:

16:30 (IST), Jan, 30

Budget 2025 Expectations Live: : Metro rail network may be more than doubled

Budget 2025 Infrastructure Expectations Live: The implementation of metro and rapid rail projects in India typically involves collaboration between central and state governments. Government officials indicated plans to expand the current network to more than twice its size over the next five years through budgetary support. Read full story here:

16:00 (IST), Jan, 30

Budget 2025 Expectations Live: Increase deduction on home loan interest

“The real estate sector is optimistic about this year's budget due to its current position of strength. The focus remains on housing affordability and enhancing urban connectivity. Key challenges include non-creditable GST costs, prompting the sector to seek clarity to reduce uncertainty. Implementing a 10% safe harbour on share transfers will align tax provisions.

Additionally, increasing the deduction on home loan interest will stimulate demand for homes and boost disposable income. These measures can enhance the sector’s growth and stability,” says Bhairav Dalal, Partner -Price Waterhouse & Co LLP

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15:30 (IST), Jan, 30

Budget 2025 Expectations Live: Renewable energy expected to be key focus area

"The upcoming 11th consecutive Budget of the Narendra Modi Govt is likely to continue its high priority, with matching allocations, for the renewable energy sector, as it has done consistently in every Budget since 2014. This is what enabled India's non fossil fuel energy generating capacity to grow nearly seven times in just a decade: from a mere 35 GW in 2014 to over 200 GW in 2024. Given this growth over the past decade, achieving the target of 500 GW over the next 5 years, while challenging, is certainly achievable. While bids by Govt agencies like SECI and SJVN have gathered tremendous pace in the recent years, the Captive & Industrial (C&I) segment of private industry consumers has also been growing rapidly. The government’s continued support for financial mechanisms and a favourable regulatory framework will further strengthen RE segment’s growth.

This budget will play a central role in realising Prime Minister Modi's vision of reaching 500 GW of non-fossil fuel capacity by 2030, positioning India as a global leader in sustainable energy,” says Srivatsan Iyer, Global CEO, Hero Future Energies.

15:03 (IST), Jan, 30

Budget 2025 Expectations Live: Auto industry eyes policy boost in 2025

As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2025 on February 1, the Indian auto industry is eagerly anticipating policy measures that could drive growth, boost sustainability, and enhance local manufacturing. With key stakeholders voicing their expectations, here’s a look at what industry leaders are hoping for.

Jyoti Malhotra, Managing Director, Volvo Car India, believes that the Budget arrives at a crucial time, as the economy faces “global uncertainties and a slowdown in consumer demand.” He hopes that the government will “prioritize measures to boost consumer spending, accelerate EV adoption through incentives and infrastructure development, and invest in skill development programs.” Read full story here:

15:00 (IST), Jan, 30

Budget 2025 Expectations Live: Key reforms needed for insurance sector

“Insurance penetration in India—whether in life, health, or general insurance—continues to fall short compared to developed nations. The Union Budget provides an essential opportunity for the government to implement reforms that can address industry challenges and encourage the broader adoption of insurance products.

One key expectation is the enhancement of tax incentives for policyholders to promote wider uptake of insurance. Health insurance, in particular, has become indispensable for families, However, the demand for higher coverage often places an additional financial burden on households. Revising the ₹25,000 tax deduction limit under Section 80D to ₹50,000 across all categories—not just for senior citizens—is crucial. This step would ease financial pressures on families while encouraging greater penetration of health insurance.

Another priority is increasing budgetary support for government-backed insurance schemes, such as the Pradhan Mantri Fasal Bima Yojana and Ayushman Bharat. They would significantly improve access to insurance for underserved populations, particularly in rural and economically weaker regions.

Additionally, strengthening Government – Insurance Industry partnership is vital in addressing emerging risks, such as climate change, catastrophic disaster management, and risk mitigation. Collaborative frameworks between the government and private insurers can establish robust systems to protect vulnerable communities and promote long-term sustainability.

By focusing on these key reforms, the Union Budget can pave the way for a more inclusive, efficient, and resilient insurance ecosystem in India, ensuring that more individuals and families have access to critical financial protection,” says Subrata Mondal, MD & CEO of IFFCO Tokio General Insurance.

14:30 (IST), Jan, 30

Budget 2025 Expectations Live: More reforms needed to simplify taxes and regulations

“The Union Budget 2024 introduced significant measures like reduced TDS rates, laying a strong foundation for SMEs and the e-commerce sector. As we look ahead to the Union Budget 2025, we hope for further reforms that simplify taxes and regulations, ease compliance, and strengthen digital infrastructure. Specifically, relaxing the requirement for a Physical Place of Business (PPOB) in every state by enabling a Virtual Place of Business will greatly enhance the ease of doing business for online sellers. Additionally, facilitating the paperless movement of goods for B2C shipments will streamline operations and support the growth of small businesses in India, fostering innovation and inclusive growth in India's digital economy,” says Dhiresh Bansal, Chief Financial Officer at Meesho

14:00 (IST), Jan, 30

Budget 2025 Expectations Live: Need to rethink taxation of Non-Fungible Tokens

Sudhir Kapadia, chartered accountant, who is the senior board advisor and mentor, taxation committee at BCCI, points out that the existing tax regime imposes undue hardships on NFT transactions. Unlike cryptocurrencies, whose value is often volatile and speculative, NFTs are tied to tangible or digital assets, giving them a more stable value basis.

Kapadia adds, “Unlike income from gambling or horse racing, where losses can be set off against gains, NFT transactions allow no such relief, making them more heavily taxed.” Read full story here:

13:30 (IST), Jan, 30

Budget 2025 Expectations Live: Significant expansion in renewable energy capacity expected

“This year’s budget presents a critical opportunity to drive a significant expansion in renewable energy (RE) capacity as we continue pursuing the 500 GW target by 2030. With an additional 300 GW of renewables to be added over the next five years, the sector requires reforms that are not only future-oriented but also address the current challenges faced by the industry.

The Ministry of New and Renewable Energy’s (MNRE) recently introduced Approved List of Models and Manufacturers (ALMM-II) framework, specifically designed for solar PV cells, is expected to take effect on June 1, 2026. However, with limited in-house cell manufacturing capacity and an ambitious annual target of approximately 35 GW, the demand-supply gap could lead to higher pricing for domestic cells and an increase in overall project costs.

Similarly, the proposed policy changes under the Draft TBCB guidelines to reduce the Power Purchase Agreement (PPA) duration from 25 to 15 years for grid-connected renewable energy projects and Energy Storage Systems (ESS) require careful consideration. These changes could directly impact project financing. Developers might hesitate to enter into new PPAs during the latter 10 years of a project’s effective operation. While shorter PPAs may offer greater flexibility, it is crucial to strike a balance with the financing stability needed by investors to ensure continued sector growth and attract investment,” says Anmol Jaggi, Chairman & Managing Director, Gensol Engineering Limited.

13:18 (IST), Jan, 30

Budget 2025 Expectations Live: Top 6 Railway Budget expectations

Here are the Budget 2025 expectation from Indian Railways -

1. Capital Recycling- FM needs to bring in asset recycling models for private sector participation in Railways as we need to develop future beyond depending on the budgetary resources.
2. Enhanced model share- For cargo, which is limited on rail, and where the opportunity to move on rail is larger, like the e-commerce, FMCG, automobile segments, there needs to bring out innovative models with focused approach to increase rail modal share.
3. Multi-operator regime- It is very difficult to drive innovative models from the present institutional structure. Therefore, enabling regulatory framework is needed to drive the growth and development models as we have seen in other transport sectors such as aviation, roads and ports.
4. Dedicated Freight Corridor (DFC) - We need to make the DFC feeder network aligned to DFC standards to maximize the benefit of DFC and increase the operational efficiency of existing network in mission mode to increase the throughput.
5. Incentives- Enlarge the PLI scheme to include railway components manufacturing with a clear long term committed procurement policy to promote innovations and growth for make in India while also enabling play in global rail market.
6. Long Term approach- A multi-year investment commitment and integrated road map with defined objectives, identified projects, procurement plans finalized in consultation with stakeholders- end users, manufacturers,” says Manish Sharma - Partner and Leader - Infrastructure, Transport & Logistics, PwC India.

13:00 (IST), Jan, 30

Budget 2025 Expectations Live: India in a position to be a global semiconductor hub

"As we approach Budget 2025, we look forward to progressive measures that drive growth in the ER&D and manufacturing sectors through public-private collaborations, R&D incentives, and infrastructure enhancements in railways and aviation. Equally important is the government’s continued commitment to the $600 billion global semiconductor industry. By strengthening initiatives like the India Semiconductor Mission and investing in R&D for chip design and manufacturing, India has the opportunity to position itself as a global semiconductor hub, fostering self-reliance and innovation. These efforts, coupled with a focus on green energy and sustainability, will not only accelerate industrial growth but also solidify India’s leadership in emerging technologies and sustainable development,” says Krishna Bodanapu, Executive Vice Chairman & Managing Director, Cyient.

12:45 (IST), Jan, 30

Budget 2025 Expectations Live: Skill development programs should be more industry centric

“Skill development programs should be more Industry centric, and Industry driven. Technology adoption – in terms of pedagogy and assessment is yet to be adopted in skill development program. A combination of enabling policies (giving incentives for Industry to participate in Skill development programs) and regulations to facilitate Industry invest a part of its earnings (along the lines of the CSR allocation) could make Skilling programs grow rapidly and become a part of mainstream. As for apprenticeship, apart from the above approach, a communication program to convey the benefits to the program and AEDP is required as many corporates are (still) not aware of the amendments in the Apprenticeship Act and how they can benefit out of it,” says Narayanan Ramaswamy, National Leader - Education and Skill Development, Government and Public Services KPMG in India.

12:15 (IST), Jan, 30

Budget 2025 Expectations Live: India at the cusp of a digital revolution

“As India stands at the cusp of a digital revolution driven by transformative technologies and connectivity, ensuring a secure and resilient digital foundation is not just an aspiration, it is a necessity. Cybersecurity must remain at the core of this progress. As digital infrastructure expands across governance, education, and healthcare, investing in cybersecurity frameworks, enhanced funding, and initiatives to combat emerging threats like deepfakes is critical.

The government’s continued focus on 5G and future telecom technologies will further enable businesses to integrate advanced fraud detection systems and technologies to handle complex fraud scenarios across voice, text, mobile apps, IoT devices, and beyond, ensuring a safe and trustworthy digital ecosystem.

The Government of India’s commitment to technological advancement throughout 2024 is evident in its initiatives, such as the India AI Mission and the Anusandhan National Research Foundation, which have propelled the nation into a new era of research and innovation. India's rise in the Network Readiness Index 2024 underscores the success of landmark programs like Digital India and BharatNet in enhancing connectivity and digital services across the country.

Strategic investments in AI, particularly with the rise of Agentic AI, present immense potential. However, the autonomous decision-making capabilities of such technologies require comprehensive regulations to address ethical, privacy, and security challenges, including the responsible use of tools like deepfake technology. By embedding proactive governance, India can foster responsible innovation that empowers businesses of all sizes to engage with customers in groundbreaking ways.

These measures will not only drive innovation but also fuel economic growth, contributing to a resilient and inclusive economy. With India's GDP growth projected at 6.4% for FY 2024-25, driven by robust domestic demand and public investment, the role of secure digital infrastructure becomes even more vital in stimulating consumption and investment,” says Harsha Solanki, VP GM – Asia, Infobip.

11:57 (IST), Jan, 30

Budget 2025 Expectations Live: Prioritize policies that foster innovation

"In an era of rapid Gen AI, and cloud computing, we expect the government’s upcoming budget to prioritize policies that foster innovation and address the evolving needs of the tech sector. This includes continued support for R&D in cutting-edge technologies, initiatives to bridge the digital divide and enhance digital literacy, and a focus on developing a robust infrastructure to safeguard our digital assets. We believe these measures will be crucial for India to maintain its competitive edge in the global technology landscape,” says Joseph Sudheer Thumma, Global Chief Executive Officer & Managing Director, Magellanic Cloud.

11:53 (IST), Jan, 30

Budget 2025 Expectations Live: Proactive cybersecurity measures required

“With the recent introduction of the Digital Personal Data Protection (DPDP) Act rules, India has made significant strides in establishing a strong foundation for data protection and privacy. Ahead of the Union Budget 2025-26, we look forward to measures that will further strengthen the nation’s cybersecurity framework.

As the nation increases its investments in digital transformation and integration of artificial intelligence, it increases the need for proactive cybersecurity measures. Data breaches have taken over the news in the past year as critical sectors have been targeted. Adding to the threat of exploited vulnerabilities such as malicious links or confidential data being leaked, enterprises and employees alike have had to reconsider whether what meets the eye is the truth due to highly advanced deepfakes.

Investments in cutting-edge threat detection, incentivising secure digital practices, and fostering innovation in cyber resilience could greatly complement the country’s digital transformation journey. Additionally, as enterprises take on digital transformation or AI adoption, the focus on cybersecurity may fall by the wayside as there is a gap between supply and demand of skilled cybersecurity resources. Mitigating this issue requires investments in cybersecurity courses in educational institutes as well as continuous skilling opportunities for those already working. This will ensure that enterprises remains abreast with knowledge about all possible risks as well as the solutions.

With advancements in proactive cybersecurity, India can reinforce trust in its digital economy while ensuring sustainable growth in a rapidly evolving cyber landscape,” says Sunil Sharma, Vice President - Sales, Sophos India & SAARC.

11:15 (IST), Jan, 30

Budget 2025 Expectations Live: Take steps to further growth of renewable energy sector

“The Indian government has made significant strides in supporting the renewable energy sector, particularly solar power. According to MNRE data, India’s total renewable energy capacity stands at 214 GW as of December 2024, with solar energy contributing approximately 47% of this total. This progress reflects the country's strong commitment to clean energy and sustainability. To maintain and accelerate this growth, it is crucial for the upcoming budget to prioritize financial incentives for large-scale renewable energy projects and strengthen the focus on domestic solar manufacturing. Targeted measures, such as continued support for production-linked incentive (PLI) schemes and infrastructure development, will drive private sector participation, foster innovation, and enhance India’s manufacturing capabilities. These steps will ensure that India not only sustains its momentum but also strengthens its position as a global leader in the renewable energy transition,” says Simarpreet Singh, Executive Director & CEO - Hartek Group.

11:06 (IST), Jan, 30

Budget 2025 Income Tax Expectations Live: Changes in new income tax regime

Many changes have already been made since introduction of the new tax regime. Further, the following are few changes which are very widely expected in the new tax regime by the common man:

1. Currently full rebate of tax is available to a resident individual when his total income as per new tax regime is INR 7 lakhs. To provide relief to the middle-income group it is expected that the said income limit may be enhanced to at least INR 10 lakhs. This will generate tax savings (and additional net disposable income) in hands of people earning between INR 7 lakhs to INR 10 lakhs per annum. It is anticipated that this could fuel consumption in the economy which is beneficial to the economy at large.
2. Many individuals do incur significant rent cost on account of working in a different city then their home city. Hence, an expectation that the house rent allowance deduction be allowed in the new tax regime as well, says Parizad Sirwalla, Partner and Head, Global Mobility Services, Tax, KPMG in India.

10:11 (IST), Jan, 30

Budget 2025 Expectations Live: Reduce GST on compostable products

"As we approach the upcoming budget, one key issue demands immediate attention: the high cost of compostable cutlery and glasses. These eco-friendly alternatives are already more expensive than plastic options due to production costs, and the current 18% GST only aggravates the problem. This steep tax burden makes it even harder for businesses and consumers to embrace sustainable choices, hindering the widespread adoption of compostable products.

To accelerate the shift towards sustainability, it is crucial that the government reduces the GST on compostable products. A reduction to 5% or, ideally, an exemption from GST would make these alternatives far more accessible and affordable for consumers and businesses alike. By lowering the tax rate, we could significantly drive down the cost of eco-friendly cutlery and glasses, making it easier for industries to switch from plastic to compostable options. This change would not only help reduce our reliance on harmful plastics but also create a positive ripple effect in the market. As the demand for sustainable products increases, more businesses will invest in eco-friendly solutions, leading to a cleaner environment and a boost in the green economy. The potential benefits are clear: reduced plastic pollution, more sustainable production practices, and a stronger commitment to a circular economy.

By lowering the GST on compostable products, the government would provide the necessary push to make eco-friendly alternatives the norm rather than the exception. It’s time to create a market where sustainability and affordability go hand in hand, paving the way for a greener, more sustainable future,” says Shubham Sharma, COO, One Bamboo Pvt Ltd.

09:35 (IST), Jan, 30

Budget 2025 Expectations Live: Bolster tech in Agri-food industry

“As the Union Budget 2025-26 approaches, we are optimistic about policy measures that could further enable the integration of technology and innovation into the Agri-food industry. The Agri- food sector is undergoing rapid transformation, and strategic investments in digital infrastructure, automation, and advanced analytics are crucial to addressing evolving consumer needs and enhancing operational efficiency. Simplified compliance frameworks for tech-enabled solutions can empower businesses to introduce sustainable practices across the supply chain, from farm to table, while simultaneously fostering transparency and trust with consumers. Moreover, increased budgetary allocations towards research and development in agritech and foodtech can unlock new opportunities for collaboration and innovation. This would allow us to explore advancements in AI, IoT, and blockchain to build more resilient and intelligent supply chains and optimize logistics.

Additionally, as GCCs evolve into globally integrated innovation hubs, they play a pivotal role in driving technological advancements and intellectual property creation. To sustain and amplify this impact, the government should establish incubation hubs and incentivize start-ups. Restoring weighted deductions for R&D will boost India’s appeal as an innovation hub, encouraging GCCs to create advanced solutions and positioning India as a global R&D leader. Presently, several Indian states are proactively launching state level policies to attract GCC’s in tier-2 towns. We strongly feel there is need of a comprehensive federal policy in complement with state policies which will create conducive environment for GCC’s to thrive. The government must invest in advanced infrastructure, education, and training programs to prepare talent in these locations for high-demand, niche GCC roles and collaborate with stakeholders to establish institutions, labs, and training centers specializing in these areas. Industry-relevant curriculum innovation, large-scale internship programs, and incentives for GCCs to invest in skill development are critical. These efforts will ensure that India remains the preferred destination for high-value GCC operations,” says Ashish Mishra, Head of Digital & Technology at General Mills India Center (GCC).

09:09 (IST), Jan, 30

Budget 2025 Expectations Live: Bolster new energy landscape including green hydrogen

“India's economy is projected to grow at ~6.8% in FY25, surpassing other major global economies. This is a testament to the country's resilience amidst global uncertainties. With the upcoming union budget, we expect the government to harness the potential of manufacturing, create copious employment opportunities, and expand economic activity that will give further impetus to the current growth momentum. By focusing on self-reliance and resilience in global value chains, India can accelerate its growth trajectory towards being a Global Hub for Manufacturing and Innovation, thereby propelling the nation towards becoming a $7 trillion economy by 2030. Continued emphasis on infrastructure development—including roads, railways, ports, and digital infrastructure—will be crucial to enhancing connectivity while also stimulating economic progress across the country. Additionally, we look forward to initiatives that will bolster the new energy landscape including green hydrogen, solar technologies, microgrids, and electric vehicles. We also expect the budget to introduce policies incentivizing energy-efficient practices among companies. This will not only transform India's energy landscape but also contribute significantly towards achieving the country's net-zero goals and climate targets,” says Deepak Sharma, Zone President Greater India, MD & CEO, Schneider Electric India.

09:08 (IST), Jan, 30

Budget 2025 Expectations Live: Top stock recommendations for January 30, 2025

Nifty has recovered close to 400 points from its panic lows seen at the start of this eventful week. The index has reclaimed 23000 levels on a closing basis and also closed above its previous day’s high indicating reemergence of confidence in buyers at the cusp of FOMC outcome impact on Indian markets. Union Budget is also lined up at the end of this week while a monthly expiry trade is scheduled for today. A reclamation of 23350 looks visible on cards ahead of the big event of Union Budget 2025 while on downside 23000 can be seen as an active support zone. Read full story here:

09:08 (IST), Jan, 30

Budget 2025 Income Tax Expectations Live: Will the government sunset the old tax regime?

“The new tax regime was introduced as an optional tax regime from FY 2020-21 onwards. While the new tax regime disallowed popular exemptions deductions like Section 80C related investments, medical insurance premium, house rent allowance etc. it offered a lower rate of tax with beneficial income slab rates. Ever since the introduction, the finance minister has made various changes in the new tax regime including changing the slab rates to make it more attractive for the taxpayer. For example, the standard deduction from taxable salary has been increased to INR 75,000 from INR 50,000 (as available in the old tax regime). Further, the employer’s contribution to the NPS is allowed as deduction up to 14% of specified salary as compared to 10% of salary in old tax regime. Also, from FY 2023-24 onwards, the new tax regime which was optional earlier was made the default tax regime unless the taxpayer expressly opted out of the same and selected the old tax regime. All of this has resulted in the increase in the number of taxpayers adopting the new tax regime. As per the Central Board of Direct Taxes for FY 2023-25 approximately 72 per cent of the taxpayers adopted the new tax regime as at July 2024 reflecting an increasing trend of taxpayers adopting the new tax regime. At the same time there has been negligible or minimum changes to the old tax regime overall.

Having said this, the old tax regime continues to be beneficial for individuals with higher house property rental or other tax saving investments etc.

Hence, if the Government does consider bringing an end/ sunset to the old tax regime, they may adopt a gradual phased out approach and provide a roadmap of the same in the current Budget scheduled to be presented on 1 Feb 2025,” says Parizad Sirwalla, Partner and Head, Global Mobility Services, Tax, KPMG in India.

09:07 (IST), Jan, 30

Budget 2025 Expectations Live: AI is crucial for Maharashtra's industrial growth

“The ₹10,300 crore allocation for the India AI Mission in March 2024 signaled India's commitment to AI at a crucial time. With AI projected to contribute $15.7 trillion to the global economy by 2030, the upcoming Union Budget 2025-26 must prioritize key areas to maximize Maharashtra’s potential. We believe this budget should focus on four pillars: first, bolstering R&D to drive innovation; second, providing financial support to empower startups and emerging businesses; third, advancing training and skill development to create a future-ready workforce; and fourth, enhancing digital infrastructure, including focused tech parks in strategic locations to attract and retain talent, while ensuring data privacy and extending digital outreach to Tier 2 and 3 cities for inclusive growth. As the Minister for Information Technology has stated, AI is crucial for Maharashtra's industrial growth, business attraction, job creation, and leadership in the AI sector. This budget is our chance to turn that vision into reality" says Naiyya Saggi, Spokesperson, Tech Entrepreneurs Association of Mumbai.

09:06 (IST), Jan, 30

Budget 2025 Expectations Live: Focus on India’s energy future

“Budget 2025-26 is a pivotal moment for India’s energy future. With more than ₹8 lakh crore allocated for transmission over the next seven years, it is essential to craft policies that foster the growth of renewable energy and strengthen domestic manufacturing. The waiver on transmission charges for the renewable sector has been a crucial policy move, positioning India as a leader in renewable energy deployment. However, continued support is vital to maintain this momentum and ensure that commercial and industrial (C&I) consumers increasingly choose renewable energy in alignment with the 500 GW mission. The budget should prioritize allocating at least ₹5,000 crore for the extension of the ISTS waiver for another term. Additionally, significant funding should be directed towards accelerating the development of cutting-edge technologies, particularly in areas like submarine cables, HVDC technology, and strategic communication systems, to outpace global advancements,” says Pratik Agarwal, Managing Director, Sterlite Power Transmission Limited.

Budget 2025 will be presented as a part of the Parliament’s Budget session for 2025 which starts on January 31. FM Nirmala Sitharaman will present the Union Budget 2025 on Saturday, February 1, 2025. All eyes are on what allocations key ministries of the government will get and what major projects the Modi government will announce to spur GDP growth.
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SubyMost Interacted
485 days ago

There will be only ultra rich and utra poor in India shortly. All other income groups will be systematically removed with every fu...Read More

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