Budget 2025 Expectations Highlights: Will FM Nirmala Sitharaman lower income tax rates to boost consumption, GDP growth?

Budget 2025 expectations live updates: Will Finance Minister Nirmala Sitharaman present a Budget that will boost consumption, bring GDP growth back on track and also provide income tax relief to the common man and the salaried income taxpayers? Every Budget, the middle class looks to the Finance Minister to reduce income tax rates, to reduce the tax burden. The Narendra Modi government introduced a new income tax regime a few years ago and since then several tweaks have been made to it, including changes in income tax slabs and tax rates to increase its adaptability among the common taxpayers. This year too, taxpayers are looking for changes in the new and old income tax regime to give more money in their hands. Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1, 2025. The Budget comes at a time when the GDP growth has slowed to a multi-quarter low and the Modi government is expected to focus on providing the much needed booster shot to the economy. This boost could be in the form of increased capital expenditure, or in terms of lower tax rates to boost consumption. Track TOI’s Budget 2025 live coverage for sector, economy and income tax expectations: