Updated 08:50 IST, February 2nd 2025
LIVE: No Income Tax For Upto Rs 12 Lakh Income - FM's Big Gift To Middle Class
Budget 2025 Live Updates: FM Nirmala Sitharaman's Address on Railways, Defence, Real Estate, GDP Growth, Income Tax, Subsidies & More – Latest News

Budget 2025 Live Updates: Finance Minister Nirmala Sitharaman introduced Union Budget 2025 with a departure from tradition, opting for a digital tablet over the customary 'bahi khata'. The Budget highlights several key developments aimed at bolstering India's economic landscape.
Key Announcements
Income Tax Exemption: Individuals earning up to Rs 12 lakh annually are now exempt from income tax, aimed at easing the tax burden on the middle class and promoting consumption, savings, and investments.
Introduction of New Income Tax Bill: A new, simplified Income Tax Bill was announced, designed to reduce complexities and streamline tax laws. It aims to be 50% shorter in terms of chapters and words compared to existing laws, enhancing clarity and reducing litigation.
Fiscal Deficit: The fiscal deficit for FY26 is estimated at 4.4% of GDP, reflecting the government's commitment to fiscal consolidation and a reduction from previous estimates, showcasing a focused approach towards economic stability.
Live Blog
Budget 2025 Live Updates: Get real-time updates on Budget 2025 expectations, including potential changes to income tax slabs, as the Union Budget for 2025-26 approaches, Major Rejig In Income Tax Slab? and more Details at republicbiz.com.
08:49 IST, February 2nd 2025
Yajulu Medury, Vice Chancellor, Mahindra University On Union Budget
With a focus on equipping the youth for global opportunities, the National Centres of Excellence in AI and the establishment of 50,000 Atal Tinkering Labs will help students hone their skills in cutting-edge technologies towards achieving “Make for India, make for the world”.
The announcement of 10,000 scholarships dedicated to fostering innovation and research, along with a National Digital Repository for knowledge systems will create a robust and future-ready education ecosystem. The budget has introduced strategic initiatives in technical education expansion which will broaden the horizon for India’s youth and empower emerging Tier-2 cities to become global hubs for tech innovation, positioning India as a leader in global manufacturing and skilling
17:38 IST, February 1st 2025
Manmeet Kaur, Partner at Karanjawala & Co. On Tax
The budget has made a welcome provision by providing zero income tax till income of Rs. 12 Lacs (12.75 lacs with 75,000/- standard deduction). The newly implemented tax structure aims to significantly alleviate the tax burden on the middle class, thereby increasing their disposable income. By reducing the tax liabilities, the new framework seeks to provide financial relief to middle-income earners, fostering economic growth and stability.
17:38 IST, February 1st 2025
Meghna Mishra, Senior Partner at Karanjawala & Co.
Overall, this budget is highly beneficial for the middle class and senior citizens, with key measures aimed at increasing savings and boosting consumption. The increase in the TCS threshold limit from ₹7 lakh to ₹10 lakh and the doubling of the TDS threshold for senior citizens provide significant relief. Additionally, with no income tax payable up to ₹12 lakh, disposable income will rise, leading to higher spending and economic growth. These steps not only support the common man and industry but also align with the vision of a Viksit Bharat by 2047, making it a well-balanced and progressive budget.
With these strategic reforms, the government aims to create a more robust, inclusive, and future-ready economy to stimulate economic expansion and to implement and improve further the ease of business and driving economic growth a high level committee for non financial sectors is being set up. Committee to make recommendations within an year with objective of trust based economic governance and take transformational measures to enhance ease of doing business.
17:38 IST, February 1st 2025
Meghna Mishra, Senior Partner at Karanjawala & Co On Income Tax Reforms
To provide relief to salaried individuals and boost consumption, the government has raised the tax exemption limit to ₹12 lakh under the new tax regime. Additionally, tax slabs have been restructured to simplify compliance, making it easier for taxpayers to opt for the new system.
17:28 IST, February 1st 2025
Mr. Rizwan Soomar, Chief Executive Officer and Managing Director, DP World Middle East North Africa and India Subcontinent for your reference and consideration.
Budget Reaction Quote:
"The Union Budget will significantly enhance ease of doing business, workforce skilling and manufacturing competitiveness with its continued focus on development of maritime infrastructure, domestic air connectivity, development of dedicated rail freight corridors (DFCs) and large-scale port modernization. The government’s commitment to inland water transport through the tonnage tax scheme will provide a more sustainable and cost-effective way of cargo movement.
The Bharat Trade Net aimed at simplifying trade documentation and will help optimize supply chains through data-driven decision-making. The INR 25,000 crore Maritime Development Fund will enhance financial stability and competitiveness for Indigenous shipbuilding and other infrastructure projects encouraging private investments. The extension of Basic Customs Duty (BCD) exemption for raw materials in shipbuilding and shipbreaking is a significant step, reducing dependency on imports.
Streamlining export compliance procedures and customs duty reforms indicate a continued commitment to reducing manufacturing costs, making Indian industries more competitive. Targeted sectoral initiatives under the National Manufacturing Mission underscore the government’s ambition to create a resilient domestic production ecosystem. These measures will not only boost exports but also generate employment opportunities.
The decision to share PM Gati Shakti data with private companies is a welcome move that will drive investment and efficiency in infrastructure development. Access to comprehensive project data will enable better planning and execution, fostering growth across sectors.
Overall, the Union Budget 2025 takes a decisive step toward transitioning from ‘Make in India’ to ‘Make in India for the World,’ leveraging infrastructure expansion, policy reforms, and human capital setting the foundation for a more resilient, efficient, and competitive India."
17:28 IST, February 1st 2025
Gaurav Makhijani (Head of Tax for North India and Gujarat) at Roedl & Partner India
In today’s globalized world, with increasing cross-border trade, especially among related parties, Transfer Pricing is critical. Transfer Pricing regulations require that transactions between related parties adhere to the arm’s length principle, ensuring that prices reflect those applied between unrelated parties. Given its subjective nature, Transfer Pricing often leads to tax litigation. While the government has introduced the Advance Pricing Agreement (APA) to provide certainty, it is primarily utilized by large corporations due to the associated costs.
In this year’s budget, the Finance Minister has proposed an option for a three-year block Transfer Pricing assessment. This is particularly beneficial for businesses engaged in recurring transactions with related parties. If Transfer Pricing Officer has analyzed the arm’s length pricing for a given year and the transaction remains consistent in terms of related parties, transaction volume, location of associated enterprises, and Transfer Pricing analysis, taxpayer may make an application to the Transfer Pricing officer to apply for the findings of Year 1 to consecutive year i.e., Years 2 and 3. The Transfer Pricing Officer is required to issue a written order within one month of receiving the application, either accepting or rejecting the taxpayer’s request. If accepted, the ruling for Year 1 will apply to the next two years. The proposal also includes guidelines on how adjustments will be carried out in Years 2 and 3, along with defined time limits.
This is an optional scheme aiming to ease tax administration for taxpayers and tax authority on repetitive transaction. In United States, there is a 5-year block assessment scheme available with some different procedures. While the intention appears to be same, it remains to be seen how this will be practically handled. Generally saying that same margin will be fine in next 2 years especially in the market like India and with the so much of geopolitical development also making year on year margins difficult to compare. Clarity is also needed on taxpayer’s options if the Transfer Pricing Officer rejects the application.
17:04 IST, February 1st 2025
Aji Nair, CEO at Mirah Hospitality On Union Budget
The Union Budget 2025 brings a significant boost to India’s tourism and hospitality sector. The government's focus on improving travel infrastructure and connectivity to key destinations will enhance domestic tourism, strengthening local economies and directly benefiting restaurants, hotels, and allied services.
With enhanced accessibility and upgraded facilities, we anticipate a surge in visitor footfalls, which will be instrumental in uplifting local communities while showcasing India’s rich culinary and cultural diversity. Additionally, the new tax regime aimed at reducing the middle-class tax burden is expected to boost disposable income, fueling consumption spends across sectors.
By prioritizing tourism-driven development, this budget lays the foundation for a thriving hospitality ecosystem. As the industry adapts to evolving consumer preferences, we are excited to contribute to this journey of transformation and growth.
16:59 IST, February 1st 2025
Kapil Chopra, Founder of DIVIANA On Union Budget
The National Manufacturing Mission is a visionary step towards strengthening India’s position as a global manufacturing hub. As an entrepreneur who has just launched our flagship European store in Milan, I see this as a game-changer for industries like furniture manufacturing.
By focusing on ease of doing business, skilling, and technology, this initiative will empower Indian brands to scale, innovate, and compete on the world stage. A stronger middle class with higher disposable income will further accelerate demand, giving a significant boost to the industry
16:57 IST, February 1st 2025
Sanjeev Bhatt, Sr. Vice President - Corporate Strategy at Meril On Union Budget
The Union Budget 2025-26 reflects a bold and visionary commitment to strengthening India's healthcare ecosystem. The substantial investment in infrastructure, medical education, and AI-driven diagnostics will not only enhance accessibility but also position India as a global leader in healthcare innovation.
The exemption of Basic Customs Duty on lifesaving drugs is a transformative step towards affordability for patients battling critical illnesses. As we work towards bridging the urban-rural healthcare divide, these strategic initiatives will pave the way for a healthier, more resilient nation. We welcome this progressive budget and look forward to collaborating with the government to drive meaningful advancements in the sector.
16:55 IST, February 1st 2025
Ganesh Sonawane, CEO & Co-Founder at Frido ON Union Budget
The Union Budget 2025-26 reaffirms India’s commitment to fostering innovation, entrepreneurship, and economic inclusivity, laying a strong foundation for startups and consumer-driven industries. The increase in credit guarantee cover, extended tax benefits, and fresh Fund of Funds investment will provide much-needed momentum for startups and MSMEs, enabling them to scale and drive domestic consumption. Additionally, the National Manufacturing Mission and export promotion measures will bolster India's position as a global manufacturing hub, aligning with our vision of ‘Make in India, Make for the World.’
A key highlight is the new tax regime aimed at reducing the middle-class tax burden, which is expected to boost disposable income and fuel demand for consumer brands across sectors such as retail, lifestyle, and technology. With a huge jump in Gen Z consumption spends, businesses catering to this dynamic demographic stand to benefit significantly.
Furthermore, streamlined regulations and an improved ease of doing business framework will create a more conducive environment for startups to innovate, expand, and contribute meaningfully to India’s economic growth. This budget paves the way for the next phase of India’s entrepreneurial and industrial transformation
16:54 IST, February 1st 2025
Krishanu Acharya, CEO, Suhora Technologies On Union Budget
It's heartening to notice the emphasis given to Geospatial services in the Union Budget, we welcome the launch of a National Geospatial Mission to develop spatial data aimed at modernizing land records across the country. This is expected to give a flip to Geospatial services, expand market and its potential.
The decision to grant the private sector to access PM GatiShakti essential data and maps, facilitating better planning and infrastructure development is path path-breaking step and has the potential to transform the sector. Suhora looks forward to working more closely with the government and our customers to bring Geospatial insights for further growth of our country and economy.”
16:53 IST, February 1st 2025
A. Gururaj, Managing Director, Optiemus Electronics On Union Budget
The Union budget has rightfully given impetus osn boosting the purchasing power of a large population with Tax relaxation and support to Agriculture and farming community. We firmly believe that with more money in hands farmers' capability to adopt new technologies like Drones significantly improves and helps grow the market faster.
For electronics manufacturing, the relaxation in Basic Custom duties for certain components is a positive step and a continuation of earlier policy initiatives and will boost indigenous manufacturing. We welcome the union budget in letter and spirit as both developments positively impact the Optiemus Group. We look forward to continuing to support the growth of our economy with our efforts.
16:51 IST, February 1st 2025
Lt. Gen. AK Bhatt, Director General, Indian Space Association (ISpA) On Union Budget
The announcement of the National Geospatial Mission shows the growing commitment of the government to use the downstream capabilities of the space tech sector. We welcome the announcement in the Union Budget to facilitate the modernization of land records, urban planning, and design of infrastructure projects under this crucial mission it is good to see how the industry and the government have realized the importance of these emerging technologies.
Even the Ex-ISRO Chairman Shri S. Somanath last year stressed the need to focus on developing downstream capabilities to generate demand and attract investments in upstream activities like satellite development and launch services in India's space sector. According to the ISpA-nasscom-Deloitte report, the market for the downstream space tech segment is expected to reach ~USD 610 billion by 2031.
The Budget's focus on setting up National CoE for skilling is an exciting announcement which would help in upskilling our growing youth talent which is in dire need of these measures to compete on a global level. Also, the announcements around New Fund of Funds (FoF) for startups, setup of 50,000 Atal Tinkering Labs, an enhanced Credit Guarantee Scheme for Startups and the DeepTech Fund of Funds will give further push to the growing startup ecosystem including the space startups which are at a nascent stage.
16:49 IST, February 1st 2025
Adrija Agarwal, Vice President and Business Developer, Sattva Group On Union Budget
In light of the Budget 2025 announcements, I am excited about the substantial changes in the income tax structure. Exempting individuals earning up to ₹12 lakh from income tax is a transformative move for the middle class, providing significant financial relief and encouraging increased consumption in the economy.
This initiative not only eases the burden on families but also creates a favourable environment for economic growth. Additionally, the ₹10,000 crore Fund of Funds for startups and extended 100% tax deductions under Section 80-IAC will fuel entrepreneurship and job creation. I commend the government for prioritizing the middle class and startups and look forward to witnessing the positive effects of these reforms in our communities.
16:31 IST, February 1st 2025
Venkatraman GS, Chief Financial Officer, Maveric Systems
The Union Budget presented by Finance Minister Nirmala Sitharaman is commendable. She has done a fantastic job by focusing on key themes like agriculture, MSMEs, industry, and exports. Several initiatives have been announced, particularly for MSMEs, which contribute 45% of our exports today. The government's measures to increase credit limits will hopefully drive more growth for MSMEs in the economy.
The Finance Minister has managed to balance the outlay for different sectors while reducing the fiscal deficit to 4.4% from 4.8% last year, which is commendable and worth examining in more detail.
The government's framework for establishing Global Capability Centres (GCCs) in tier-2 cities is a positive move. This will generate employment and create opportunities in these regions.
From an infrastructure perspective, the government’s plan under the UDAAN initiative to set up 120 smaller centers to boost travel and tourism is another great step. It will drive growth in those sectors.
The decision to allow 100% Foreign Direct Investment (FDI) in insurance is a welcome move.
The creation of a central repository for KYC is very beneficial. The current KYC and e-KYC processes are cumbersome, as they require interaction with multiple agencies. A centralized system would simplify this significantly.
The reduction in customs duties across various sectors will encourage more domestic manufacturing under the Aatmanirbhar Bharat initiative. In terms of technology, the announcement of an additional ₹10,000 crore for the deep-tech fund and the extension of the startup exemption for another five years are excellent steps to support startups looking to participate in government programs.
The extension of Category I and II exemptions for AIFs until March 31, 2030, is another positive move that will drive investment and growth in the economy.
Finally, making income up to ₹12 lakhs tax-free is a welcome measure. The adoption of the new tax regime and the rationalized tax slabs will increase disposable income for the middle class, driving urban spending, which everyone has been focusing on.
16:30 IST, February 1st 2025
Saurabh Agarwal, Vice President & General Manager at Avery Dennison, South Asia
"We welcome the Union Budget 2025-26, which places a strong emphasis on sustainability, infrastructure development, and support for MSMEs, presenting exciting opportunities for the packaging and labeling industry. At Avery Dennison India, we are deeply committed to driving innovations in sustainable packaging and reducing environmental impact.
Furthermore, the reduction in tax slabs is expected to boost consumer spending, which in turn will drive higher demand across consumption basket, including packaging and labeling. Additionally, the government's commitment to improving manufacturing infrastructure and enhancing the ease of doing business will help packaging companies, including small and medium enterprises, scale up their operations and innovate more efficiently. As a leader in material science, Avery Dennison India is poised to support India's transition toward more responsible and sustainable packaging, in line with the global push for a circular economy. We are excited to be part of this movement as India looks to build a more sustainable future while maintaining its position as a competitive manufacturing hub."
16:17 IST, February 1st 2025
Sanjay Gupta, Vice Chancellor, World University of Design On Union Budget
The Union Budget underscores the crucial role of AI and the need for upskilling, with the establishment of a National Centre of Excellence in AI being a pivotal step. This focus on AI will particularly benefit the design and creative sectors, propelling them to new heights and driving progress toward a 'Vikshit Bharat.' Additionally, the increase in seats for technological research, as announced in the budget, will strengthen the academic landscape and pave the way for groundbreaking innovations across various industries
16:15 IST, February 1st 2025
Archana Jahagirdar, Founder & Managing Partner, Rukam Capital On Union Budget
When startups are included in the central government’s annual budget planning, it is a moment to celebrate. We commend the Hon’ble Finance Minister for recognizing securities held by AIFs as Capital Assets—a decision that strengthens the case for CAT I & II by ensuring that gains from securities are treated as capital gains and that GST on security sales remains outside the framework.
Additionally, the launch of the new ₹10,000 crore round under the Fund of Funds for Startups (FFS) scheme reaffirms the government’s dedication to fostering innovation and entrepreneurship. This renewed fund which aligns with the Startup India Action Plan and initiatives like the Startup Mahakumbh has played a pivotal role in driving India's startup boom since its inception. We believe that increased financial support from the government, alongside efforts to reduce capital constraints and collaboration with industry will further accelerate the growth of Indian startups."
16:11 IST, February 1st 2025
Agendra Kumar, Managing Director, Esri India On Union Budget
A big thank you to our Hon. Finance Minister for announcing several programs as part of the budget for 2025-26 to give a boost to the geospatial sector. The most important one is the setting up of the National Geospatial Mission to develop foundational geospatial infrastructure and data to facilitate land records modernization, urban planning, and infrastructure design.
The users in the government, private sector, and the industry have lived with the lack of good foundational data for a very long time. I believe this announcement will provide the necessary resources to create geospatial data that will serve as a foundation for social and economic development. By improving productivity across sectors such as agriculture, natural resources, energy generation and distribution, rural and urban initiatives, and governance, this effort will drive meaningful progress.
Investment in research and development fuels economic growth, improves quality of life, and shapes the future. Rs 20,000 crore investment to drive private sector-led R&D and innovation, funds for Deeptech research, 10,000 fellowships under the PM Research Fellowship Scheme, and Rs 500 crore investment for a CoE in AI for education, are transformative steps to make India more competitive at the global level in terms of innovation and IP creation. Overall, the budget has set strong grounds for equipping India with the skills and resources necessary to navigate the evolving global landscape and achieve its vision of being a technologically advanced and prosperous nation
16:08 IST, February 1st 2025
Himanshu Arora CEO and Co Founder - GoMechanic On Union Budget
Union budget 2025 26 is expected to prioritize the greatest transformative change thus far when it comes to India policy towards the automotive and mobility industry including start-ups and EV infrastructure. While it is good to see that the budget mentions the need of a policy to provide incentives to the manufacturers and support finance, it sidesteps the most important set of policies that deal with the auto service networks, digital mobility platforms, and the aftermarket that are the bedrock of vehicle ownership in India.
The shift towards EV battery and grid production is appreciated but the supportive ecosystem for servicing and repairs also needs to be strengthen Makings of skilled workforce, standardised diagnostic mechanisms, and sustainable battery recycling strategies with the rise of EV adoption are true key differentiators. Without supportive investments in the aftermarket supply chains, the consumption of EVs will have operational constraints for years.
Transformational businesses like GoMechanic are propelled by technology, but operating in this sector is affected by the ease of doing business. We hoped for more direct funding incentives for AI powered auto diagnostics, maintenance prediction systems, and skilling for new mobility service professions.
16:05 IST, February 1st 2025
Monika Potharkar, Director-FSS and Site Lead at General Mills India Center On Union Budget
The Union Budget’s emphasis on developing a national framework for Global Capability Centers (GCCs) in emerging Tier-2 cities is a testament to India’s commitment to building a future-ready digital and innovation ecosystem. Strengthening talent pipelines, upgrading infrastructure, and enabling industry collaboration will further position India as the preferred global hub for enterprise innovation and operational excellence.
The measures to streamline international taxation—such as the block-period approach for arm’s length pricing and the expansion of safe harbour rules—will provide greater regulatory clarity, reduce litigation, and enhance ease of doing business. Additionally, the introduction of a Center of Excellence (CoE) for Artificial Intelligence underlines India's commitment to developing a scientific temper and accelerating AI-driven transformation. With these strategic initiatives, India is reinforcing its position as a powerhouse for digital transformation, AI adoption, and global enterprise operations.
16:04 IST, February 1st 2025
Sriram Ananthapadmanabhan, VP and Head of Finance at ANSR On Union Budget
The Union Budget 2025 delivers a much-needed impetus for the GCC industry by introducing a structured, three-year block approach to determining arm’s length pricing. This move brings much-needed clarity, reduces tax uncertainties, and aligns India with global best practices, making the regulatory landscape more predictable for multinational service providers. By streamlining transfer pricing and minimizing disputes, the budget strengthens India’s position as the preferred destination for GCCs, fostering long-term growth and confidence among global enterprises.
16:03 IST, February 1st 2025
Venugopal Ganganna, Co-founder and CIO, LS Digital On Union Budget
We welcome Budget 2025-26 as a forward-looking and growth-oriented budget that places significant emphasis on human capital development and digital transformation. The announcement of five National Centres of Excellence for Skilling demonstrates the government's commitment to preparing India's youth for global opportunities.
Additionally, the ₹500 crore commitment to an AI Centre of Excellence for Education demonstrates the nation’s serious intent towards technological innovation in learning. At LS Digital, empowering companies with AI-driven skilling solutions has been one of our core commitments, and the initiatives announced today will provide a significant boost to our mission. As a leader in digital business transformation, I am confident that these strategic initiatives will accelerate India's transition to a knowledge economy, fostering talent development and digital innovation. At the same time, they will empower organizations with the competitive edge needed to thrive in today’s rapidly evolving digital landscape.
16:02 IST, February 1st 2025
Anish Shah, CFO, Zee Learn Limited commented On Union Budget
The Government has clearly emphasised that a hundred per cent good quality school education will be a key component of Viksit Bharat. Additionally, the setting up of 50,000 Atal Tinkering Labs in Government schools will set a good example & encourage STEM education. The proposed implementation of the Bharatiya Bhasha Pustak Scheme is another exemplary initiative for students to access books in local languages. Increasing the capacities of medical colleges, IITs and setting up of National Centers of excellence of skilling will give further boost to higher education and vocational education making our youths future ready. Furthermore ensuring broadband connectivity to all government secondary schools will go a long way in making digitisation a success story.
This year, the Government’s various schemes for the education sector are a step in the right direction. The budget’s focus on the poor, women, youth, and farmers will ensure a developed India. To turn the vision of Viksit Bharat into reality, streamlining processes and providing subsidies for K-12 education loans is essential. Integrating more technology into education can help bridge the digital divide.
16:01 IST, February 1st 2025
Himanshu Arora CEO and Co Founder - GoMechanic On Union Budget
Union budget 2025 26 is expected to prioritize the greatest transformative change thus far when it comes to India policy towards the automotive and mobility industry including start-ups and EV infrastructure. While it is good to see that the budget mentions the need of a policy to provide incentives to the manufacturers and support finance, it sidesteps the most important set of policies that deal with the auto service networks, digital mobility platforms, and the aftermarket that are the bedrock of vehicle ownership in India.
The shift towards EV battery and grid production is appreciated but the supportive ecosystem for servicing and repairs also needs to be strengthen Makings of skilled workforce, standardised diagnostic mechanisms, and sustainable battery recycling strategies with the rise of EV adoption are true key differentiators. Without supportive investments in the aftermarket supply chains, the consumption of EVs will have operational constraints for years.
Transformational businesses like GoMechanic are propelled by technology, but operating in this sector is affected by the ease of doing business. We hoped for more direct funding incentives for AI powered auto diagnostics, maintenance prediction systems, and skilling for new mobility service professions.
15:51 IST, February 1st 2025
Vibha Tripathi, Founder, Boon On Union Budget
The Union Budget 2025–2026 has taken a significant step towards MSMEs and start-ups, providing easier access to funding required for growth and innovation while also increasing micro-enterprise loan guarantee coverage. The focus on start-ups is also encouraging, with the rise in credit guarantee cover to ₹20 crore and the establishment of a ₹10,000 crore Fund of Funds, signaling a strong commitment to innovation.
The Clean Tech Mission is an excellent step for sustainable businesses, and the extension of the Jal Jeevan Mission to 2028 will provide tap water connections to 15.43 crore rural households, significantly improving the quality of life for many.
Additionally, the emphasis on women entrepreneurship, with term loans up to ₹2 crore, is empowering and inclusive. And, in order for the youth to strengthen their careers, the FM mentioned setting up national skilling centres that will address the talent gap, providing a skilled workforce that can drive MSME and start-up growth.
Overall, the budget provides the right resources and incentives for entrepreneurs to scale up, innovate, and thrive.
15:49 IST, February 1st 2025
Nikhil Aggarwal, Founder & Group CEO, Grip Invest On Union Budget
The Union Budget 2025-26 takes a proactive approach to strengthen India’s financial markets by reducing the TDS on securitization trusts from 25% to 10% and bringing it in line with other fixed income instruments like corporate bonds. This $20 billion a year market will now see great participation from all investor segments. Over the last 2 years retail investors have also started investing in this asset class and creating additional pool of capital for the Indian economy's growth.
Additionally, the introduction of the Partial Credit Enhancement Facility by NaBFID is a strategic move to support corporate bond issuances. By reducing credit risk for issuers, this initiative should encourage more corporations to tap the bond market for funding. Together, these measures are expected to broaden capital access, lower financing costs, and promote long-term stability in India’s credit and bond markets.
15:48 IST, February 1st 2025
Sheetal Sharad, CRO, ICRA ESG Ratings On Union Budget
The budget's announcements on support to MSMEs through a manufacturing mission, improved classification norms and enhanced credit will enable building sustainable and indigenous supply chains. Moreover, the focus on skill development and women gives opportunities to India Inc to create a positive social impact while fostering inclusive growth and enhancing productivity.
The budget sends a clear signal on the focus on the clean energy transition. Announcements on the clean tech manufacturing mission demonstrate the aim to strengthen ecosystems across clean energy generation, transmission and storage. In addition, higher allocations to schemes on solar and nuclear power are positive. Support to the EV industry through duty exemptions, and higher allocations on schemes like E-Drive and E-bus Sewa will also help in greening our transition. The newly announced Urban Challenge Fund could help in the development of adaptation infrastructure projects to tackle climate risks.
15:47 IST, February 1st 2025
Shish Kharesiya, Founder & CEO of Baby & Mom Retail Pvt. Ltd On Union Budget
The Union Budget 2025-26 reflects a strong commitment to fostering growth in the MSME sector and bolstering the startup ecosystem. The significant boost to the credit guarantee scheme and the creation of a new Fund of Funds will provide much-needed capital support to emerging businesses. The enhanced focus on 'Make in India' through the National Manufacturing Mission and clean tech initiatives will accelerate domestic production, benefiting brands like ours. Moreover, the revised income tax slabs, offering relief up to ₹12 lakh, will boost middle-class disposable income, positively impacting retail demand. The introduction of a single portal for tax rebates simplifies compliance, especially for MSMEs. Overall, this budget strikes a balance between promoting entrepreneurship, easing tax burdens, and stimulating consumption—a promising step for India's growth story
15:45 IST, February 1st 2025
Abhishek Agashe Co-Founder CEO at elima On Union Budget
The Union Budget 2025 marks a transformative milestone in India’s journey toward a Viksit Bharat by 2047, particularly in the recycling and clean tech sectors. With India generating over 3.2 million metric tonnes of e-waste annually, and a 73% surge in e-waste between 2019 and 2023, strengthening our domestic recycling infrastructure is no longer optional—it’s a strategic necessity to power circular economy. The reduction of basic customs duty, with now 0% duty on imports of non-ferrous scrap (Lead, Zinc, Copper, Brass, and Lithium-Ion Battery Scrap), is a game-changer. This will boost the recycling ecosystem and significantly contribute to the ‘Make in India’ movement by increasing the availability of materials for local processing and manufacturing.
This focus on clean tech manufacturing is crucial for accelerating India’s transition to a sustainable future. By promoting local production of solar PV cells, EV batteries, and energy storage solutions, the budget supports domestic value addition and boosts innovation. At Elima, we believe this will not only drive the growth of green technologies but also paves the way for a robust recycling ecosystem, empowering the next generation of green businesses.
With this budget, India is reinforcing its commitment to climate-friendly development and building the foundation for a cleaner, greener, and more self-sufficient economy. We at Elima are excited to contribute to this transformation and play a role in India’s clean energy revolution.
15:44 IST, February 1st 2025
Dev Arora, Founder & CEO, Alt Mobility On union Budget
Budget 2025 is a game-changing moment for the electric vehicle (EV) sector, particularly with the introduction of BCD (Basic Customs Duty) cuts on materials required for Li-Ion batteries. This will significantly lower production costs and help accelerate the growth of a zero-emission vehicle ecosystem in India. The full exemption of customs duty on 35 capital goods for EV manufacturing, combined with the ₹10,000 crore Clean Tech Mission, is set to drive innovation and create a self-sustaining, local ecosystem for EV batteries, motors, and controllers. This will reduce our reliance on imports and make cutting-edge, sustainable technology more accessible to manufacturers, paving the way for a truly green future.
The budget also shines a spotlight on MSMEs, particularly in the auto component sector, with easier credit access and a doubled credit guarantee cover to ₹10 crore. This will empower smaller component manufacturers to scale up and contribute to India’s clean mobility transition.
At Alt, we are excited about the government’s strategic focus on clean tech and local manufacturing, which not only reduces costs but also sets India on a trajectory to become a global leader in EV and clean energy solutions, fostering long-term growth and a cleaner, greener future.
15:43 IST, February 1st 2025
Anagh Ojha Co-founder CTO at UrjaMobility On Union Budget
Budget 2025 takes a significant step toward strengthening India’s EV and energy storage ecosystem. The introduction of the Critical Mineral Mission aims to enhance domestic production, overseas acquisition, and recycling of essential minerals like lithium, cobalt, and nickel—crucial for battery manufacturing. Additionally, the government has removed customs duties on 25 critical minerals, including lithium and copper, reducing import costs for key raw materials.
This move is expected to boost local battery manufacturing, reduce reliance on imports, and make EVs more affordable. The continued focus on PLI schemes and incentives for battery storage and EV production further signals the government’s commitment to clean mobility. However, successful implementation will depend on execution speed, policy clarity, and ensuring a stable supply chain.
For startups and businesses in the EV and energy storage space, these measures present new opportunities but also demand agility in adapting to policy shifts. If complemented by financing solutions and infrastructure expansion, India can accelerate its transition to sustainable mobility. Overall, Budget 2025 lays a strong foundation for India's energy future, but industry collaboration and effective execution will be key to unlocking its full potential.
15:43 IST, February 1st 2025
Gayomard Driver - Executive Director & Group Chief Financial Officer Jeena and Company On Union Budget
The Union Budget 2025-26 reaffirms the government’s commitment to infrastructure development, taking it to new heights. We welcome this focus, particularly on strengthening logistics through enhanced infrastructure, digital transformation, and supportive policies, which will be a game changer for India’s supply chain ecosystem.
The introduction of the Bharat Trade Net Platform for seamless trade documentation and financing, along with the ₹25,000 crore Maritime Development Fund, are strategic moves that will drive efficiency, and boost global competitiveness. Maritime Development Fund will not only enhance India’s logistics and trade capabilities but also provide employment opportunities across diverse skill levels—from blue-collar workers to high-tech professionals—ensuring inclusive growth in the maritime economy.
Additionally, the push for modernizing air cargo, investing in geospatial infrastructure, fostering AI-driven innovation, and promoting public-private partnerships will further enhance connectivity and operational agility.
These transformative initiatives position India on the path to becoming a global logistics powerhouse.
15:40 IST, February 1st 2025
Prof. Debabrata Das, Director, IIIT-Bangalore On Union Budget
The Finance Minister’s focused thrust on the education sector, particularly higher education, in the Union Budget is a very good transformative step toward realizing the National Education Policy (NEP) 2020. The announcement of five national Centres of Excellence for Artificial Intelligence (AI) is an excellent decision in Education underscores the government’s commitment to integrating cutting-edge technologies, fostering multidisciplinary learning, and promoting research-driven education. The Rs 500 crore allocation for AI will significantly strengthen India’s research ecosystem and produce a workforce equipped for the demands of a tech-driven future.
The investment Initiatives like broadband connectivity in government schools and the Bharatiya Bhasha Pushtak scheme will ensure digital inclusion and promote learning in Indian languages, laying a strong foundation for future innovators.
In the immediate term, these measures will boost research and skill development. Mid-term, they will enhance accessibility and bridge the digital divide. Long-term, they position India as a global leader in technology and innovation. IIIT-Bangalore remains committed to advancing this vision by driving AI research, broadband initiatives, digital public infrastructure fostering innovation, and nurturing future technology leaders.
15:39 IST, February 1st 2025
Usha Iyer, Founder & Principal, The Green School Bangalore (TGSB) On Union Budget
The Union Budget for 2025-26 marks a pivotal moment in India's educational framework, significantly advancing its commitment to employment, skill development, and support for Micro, Small, and Medium Enterprises (MSMEs). With an allocation of ₹1.48 lakh crore for education, the budget prioritizes inclusive and quality learning experiences, notably increasing the Higher Education Department's budget to ₹47,619.77 crore, emphasizing research and innovation.
A cornerstone of this budget is the introduction of the One Nation One Subscription (ONOS) scheme, aimed at providing nationwide access to vital academic resources, aligning with initiatives like Viksit Bharat @2047 and the National Education Policy (NEP) 2020. The budget further aligns with NEP goals by prioritizing digital education, skill enhancement, and comprehensive teacher training strategies, targeting a 50% Gross Enrollment Ratio in higher education by 2035.
This budget represents an opportunity to redefine India's educational landscape, ensuring it is equipped to meet the challenges of the future while being inclusive and globally competitive. This aspiration is evident in the various initiatives aiming to elevate educational standards and promote sustainability within educational institutions. By fostering a cooperative ecosystem among stakeholders, India can cultivate an innovative education sector, thereby laying the groundwork for a resilient and equitable society.
15:39 IST, February 1st 2025
Anil Nagpal, Director of Finance, Shilton Hospitality On Union Budget
The Union Budget 2025 presents a strong opportunity for India’s hospitality sector, with tax reforms, infrastructure investment, and tourism-focused initiatives set to drive growth. We welcome the budget’s positive impact on hotels, pubs, and catering services.
This budget is a step in the right direction for the hospitality industry. With higher disposable incomes from revised tax slabs, we anticipate increased consumer spending on dining, travel, and entertainment. Additionally, the government’s focus on tourism infrastructure and ease of doing business will strengthen the sector’s long-term growth.
Key Takeaways for the Hospitality Industry:
Boost in Consumer Spending – Tax cuts for the middle class mean more discretionary income, likely increasing footfall at restaurants, bars, and hotels.
Tourism & Infrastructure Growth – The government’s investment in roads, railways, and airports will improve connectivity, bringing more travelers to hotels and resorts like Fireflies by Shilton.
Support for Restaurants & Catering – Any future GST rationalization could make restaurant dining more affordable and benefit catering services like 22 Catering Co.
Investment in Hospitality Real Estate – Potential Foreign Direct Investment (FDI) relaxations could attract funding for new hospitality projects, including upcoming Shilton Hotels.
At Shilton Hospitality, we are optimistic about the future. The budget’s focus on economic stability, consumer spending, and tourism growth aligns perfectly with our business vision. We look forward to leveraging these opportunities to enhance our offerings across pubs, resorts, and catering services.
15:38 IST, February 1st 2025
Himanshu Kohli, Co-founder On Union Budget
The Union Budget 2025-26 represents a forward-thinking approach to sustaining long-term economic growth while ensuring inclusivity. By focusing on key areas such as infrastructure development, agricultural productivity, renewable energy, and skill development for the youth, the government is laying a strong foundation for future prosperity. Additionally, the emphasis on supporting start-ups and addressing the needs of the growing middle class will foster innovation and drive economic expansion. This budget strikes the right balance between fostering growth and ensuring social welfare, paving the way for a more resilient and equitable India.
15:36 IST, February 1st 2025
Satish Shukla, Co-Founder, Addverb On Union Budget
This year’s budget is a significant step toward making India a global hub for innovation and advanced manufacturing. The Deep Tech Fund and ₹1.5 lakh crore credit guarantees will empower MSMEs and startups to embrace automation, while expanded PLI schemes and the National Manufacturing Mission will strengthen India’s industrial backbone.
The push for AI-led skilling through Centres of Excellence and Atal Tinkering Labs aligns with the need for a future-ready workforce. At Addverb, we see this as a moment of transformation-one that reinforces our commitment to automation and robotics, driving India’s journey toward Viksit Bharat.
15:35 IST, February 1st 2025
Sunil K Shekhawat, CEO of SanchiConnect On Union Budget
In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced a significant boost for India's DeepTech sector, unveiling a ₹20,000 crore investment to drive private sector-led research, development, and innovation. This initiative aims to foster cutting-edge advancements across various industries, including artificial intelligence, biotechnology, and advanced manufacturing. Additionally, the government plans to explore the creation of a DeepTech Fund to catalyze next-generation startups, further solidifying India's position as a global innovation leader.
These measures are expected to enhance the availability of patient capital for DeepTech startups, enabling them to tackle complex challenges and contribute to the nation's economic growth.
By prioritising DeepTech development, the budget underscores the government's commitment to nurturing an ecosystem that supports technological breakthroughs and sustainable progress
15:35 IST, February 1st 2025
Raj Singhal, Co-founder & CEO of Footprints Childcare On union Budget
In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced a significant investment in education and artificial intelligence (AI). The government plans to establish three Centres of Excellence in AI for the education sector, with a total allocation of ₹500 crore. This initiative aims to integrate AI into educational frameworks, enhancing learning outcomes and fostering innovation among students.
The minister also announced significant reforms to the personal income tax structure, aiming to provide relief to taxpayers and stimulate economic growth. These adjustments are designed to reduce the tax burden on the middle class, thereby increasing disposable income and encouraging higher consumption and savings. The government anticipates that these measures will not only benefit individual taxpayers but also contribute to overall economic growth by boosting household spending and investment.
15:30 IST, February 1st 2025
Sajja Praveen Chowdary, Director , Policybazaar For Business.
‘The Union Budget 2025 put forward a strong growth agenda for the start-up and MSME ecosystem. The newly-proposed National Manufacturing Mission sets the stage for a more competitive and self-reliant industrial base. Access to credit has been significantly expanded, providing a major boost to MSMEs and startups. Micro and small enterprises now have double the credit guarantee cover, which ensures stronger financial backing for innovation. Startups in key sectors benefit from higher limits and reduced guarantee fees, while well-run exporter MSMEs can access larger term loans. These measures will enhance liquidity, encourage investment and also strengthen India’s Make In India initiative. The decision to allow 100% FDI in insurance is another landmark reform, which will bring global investments, better capital influx and promote healthier competition. These measures cement India’s thriving entrepreneurial spirit and make way for a more resilient economy,’ Sajja Praveen Chowdary, Director , Policybazaar For Business.
15:28 IST, February 1st 2025
Dr.Tarang Gianchandani , CEO- Sir H.N. Reliance Foundation Hospital, Mumbai
'Government’s focus to strengthen India’s healthcare landscape with a strategic focus on cancer care and medical education has continued in Union Budget 2025 as well. Recognizing the need to reduce financial strain of life-threatening diseases, the full exemption of basic customs duty on 36 life-saving drugs, including those for cancer and rare diseases shall ensures that critical treatments remain within reach for countless patients and their families and there is hope.
Moreover, the decision to establish daycare cancer centers in all district hospitals over the next three years, with 200 hospitals set to be operational by 2026, marks a transformative step in making cancer care more accessible to all strata of society near their homes. This initiative will be a lifeline for patients across the country, ensuring they receive timely and quality care without the need to travel long distances.
Equally significant is the government’s focus on nurturing the next generation of medical professionals. With 10,000 additional medical seats to be introduced this year and an ambitious goal of adding 75,000 seats over the next five years, as it would help in bridging the gap in healthcare expertise. These measures will not only strengthen our medical ecosystem but also reinforce India's position as a global healthcare leader, ensuring that quality healthcare is not just a privilege but a fundamental right for all,' Dr.Tarang Gianchandani , CEO- Sir H.N. Reliance Foundation Hospital, Mumbai
15:28 IST, February 1st 2025
Mr Sandeep Ahuja, CEO, Atmosphere Living
“The recent change in Budget 2025 allowing taxpayers to treat two properties as self-occupied significantly benefits individuals who own a holiday home or a second property for personal use. Previously, owning more than one property meant that the second property would be taxed on deemed rental income, even if it was not being rented out. This made owning a second home, such as a vacation property, less attractive due to the extra tax burden. However, with the new rule in Budget 2025, taxpayers can now classify both their primary residence and holiday home as self-occupied, exempting them from the tax on notional rental income for the second property.
This makes owning a second home for personal use more financially viable, offering relief to those who enjoy vacation homes or seasonal residences without facing additional taxes on properties they don’t rent out. As a result, this change encourages more people to invest in second properties for personal enjoyment without the concern of higher tax liabilities. The 2025 Budget sets the foundation for a robust economy, focusing on financial stability, more investment in real estate, and sustainable growth in the years to come," Mr Sandeep Ahuja, CEO, Atmosphere Living
15:27 IST, February 1st 2025
Avneet Singh, Founder and CEO, Medusa Beverages
Avneet Singh, Founder and CEO, Medusa Beverages: "This year’s budget is a big win for MSMEs and manufacturing in India. The government has clearly recognized that MSMEs are not just small businesses but the backbone of our economy, driving employment, innovation, and exports. Enhancing the investment and turnover limits will give growing businesses more breathing space, while better credit access will help us scale faster without being held back by financial constraints.
What’s more commendable is the focus on making India a global manufacturing hub. The National Manufacturing Mission is a step in the right direction, ensuring that small, medium, and large enterprises get the right support to compete at a global level. Over the years, ease of doing business has improved significantly, and this budget continues that momentum.
For startups like Medusa Beverages, these reforms create an environment that fosters growth and innovation. Access to improved credit facilities and policy simplifications will enable us to scale operations and establish a stronger presence in both domestic and international markets. As an entrepreneur, I see this as a strong push towards making India a powerhouse in manufacturing and business, and we look forward to seeing how these policies translate into real-world impact,”
15:27 IST, February 1st 2025
Naresh Mansukhani, CEO, Juniper Green Energy
Naresh Mansukhani, CEO, Juniper Green Energy: "The Union Budget 2025-26 provides a comprehensive roadmap for India's transition to a sustainable energy future, with a clear focus on expanding clean energy capacity. The ambitious target of 500 gigawatts of non-fossil fuel energy by 2030, coupled with significant support for solar and wind energy, is a much-needed push for the sector. The government's focus on incentivizing states to reform electricity distribution and improve intrastate transmission is equally crucial, especially given the challenges faced by regions like Rajasthan, Gujarat, and Uttar Pradesh. These measures will not only enhance power reliability but also create a more resilient energy infrastructure, which will be vital as we scale our clean energy projects.
The allocation of ₹1,500 crore to the solar power (grid) segment in this budget reinforces India's commitment to the renewable energy transition. The sector has witnessed consistent and significant budgetary support over the years. In recent years, solar power has been a key priority, with allocations surging from ₹2,369.13 crore in 2021-22 to ₹3,304.03 crore in 2022-23. Even in 2020-21, when the allocation stood at ₹2,449.65 crore, the sector received substantial backing. This continued investment highlights the government's long-term vision for clean energy adoption.
The extra borrowing allowance provided to states, contingent on the implementation of reforms, will also strengthen the operational efficiency and financial health of power distribution companies, ensuring that the benefits of clean energy reach all corners of the country. We remain committed to playing our part in India's clean energy goals, and this budget will be a key enabler in achieving those objectives."
15:26 IST, February 1st 2025
Amit Sharma, General Partner, Cactus Partners
Amit Sharma, General Partner, Cactus Partners: "The establishment of a new Fund of Funds (FoF) with an additional ₹10,000 crore and an expanded scope is a welcome move. The initial ₹10,000 crore FoF, managed by SIDBI—of which Cactus Partners has also been a beneficiary—has been a major catalyst for India’s startup ecosystem, significantly contributing to its vibrancy by helping mobilize ₹91,000 crore for Indian AIFs. The exploration of a deep-tech Fund of Funds is also a positive step and will be crucial in driving cutting-edge innovation in India. Additionally, the provision of term loans of up to ₹2 crore for first-time entrepreneurs from certain sections of society, including women, will further encourage entrepreneurship. The increased credit guarantee cover, along with a reduced guarantee fee for startups and MSMEs, will enhance much-needed access to credit.
Cleantech and electronics manufacturing have been visibly prioritized in this budget. The exemption of customs duty on 12 additional critical minerals, including lithium-ion battery scrap, will support India’s recycling and minerals processing industry. Similarly, duty exemptions on incremental capital goods for EV battery and mobile phone battery manufacturing will incentivize domestic production and provide a boost to cleantech startups. The stated commitment to supporting the manufacturing of solar cells, EV batteries, and electrolyzers is another positive move. Moreover, there appears to be a clear intent to reduce regulatory compliance for businesses, including startups. Overall, this budget is a step in the right direction toward strengthening the startup ecosystem."
15:25 IST, February 1st 2025
Anupam Kumar, Co-Founder and CEO, MiniMines Cleantech Solutions
Anupam Kumar, Co-Founder and CEO, MiniMines Cleantech Solutions: "The Union Budget 2025-26 marks a transformative step toward a cleaner, greener future, and for companies like MiniMines, it presents a wealth of opportunities. With the government’s strong push for clean energy, the demand for critical materials such as lithium-ion is set to rise.
The Finance Minister’s proposal to provide a full exemption of Basic Customs Duty (BCD) on cobalt powder, lithium-ion battery waste, scrap, and 12 other critical minerals is a major boost for the sector. This move will secure the availability of these essential materials for domestic manufacturing. Additionally, the customs duty reduction on lithium batteries will drive increased consumption, further benefiting the battery recycling industry. The reduction of BCD from 5% to 2.5% is expected to accelerate EV adoption, creating a ripple effect that will increase the demand for battery recycling and rare metal recovery. Furthermore, the tax exemption on cobalt powder will boost the sales and adoption of cobalt-based battery chemistries, opening new avenues for growth in energy storage and mobility.”
15:24 IST, February 1st 2025
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15:23 IST, February 1st 2025
Sheeshram Yadav, Managing Director, Yugen Infra On Union Budget
The Union Budget 2025-26 is a landmark step in driving transformative reforms across key sectors, with a strong focus on urban development, regulatory ease, and financial empowerment. The real estate sector welcomes the government’s continued commitment to accelerating growth, boosting private investment, and uplifting household sentiment—crucial elements that drive homeownership and urban expansion.
The success of the SWAMIH scheme, which has already delivered 50,000 homes to middle-class families, is a testament to the government’s resolve to address stalled housing projects. The launch of SWAMIH Fund 2, with an allocation of INR15,000 crore, will further expedite the completion of another 1 lakh units, ensuring relief for homebuyers and strengthening confidence in the sector.
By securing energy supplies, fostering employment-led development, and nurturing innovation, this Budget lays the foundation for sustainable and inclusive real estate growth. With a clear roadmap for urban transformation, it positions the sector as a key driver of India’s economic resilience.
15:23 IST, February 1st 2025
Panckaj N Umrania, Executive Director, KND Steel On union Budget
The enhanced classification limits for MSMEs and the introduction of a dedicated Manufacturing Mission under ‘Make in India’ mark a transformative step for India's industrial growth. MSMEs, being the backbone of our economy and contributing 45% of the country's exports, will benefit immensely from this policy support, enabling them to scale operations and drive innovation. The emphasis on PPP in infrastructure, backed by a ₹1.5 lakh crore interest-free loan scheme, will unlock new opportunities across railways, defence, agriculture, and core infrastructure sectors. This Budget sets the stage for India's emergence as a global manufacturing hub, fostering sustainable growth and self-reliance in an environment of ease of doing business.
15:21 IST, February 1st 2025
Kunal Mundra, CEO and Founder, Electrifi Mobility On Union Budget
The Union Budget has taken significant steps towards accelerating India's transition to sustainable transportation. In particular the focus on domestic EV battery manufacturing as well as the duty exemptions on related capital goods will ensure that as a country we not only grow EVs in the immediate term but also create the foundation for the growth over the longer term by creating a robust local manufacturing foundation with limited cross-border dependence. The specific focus on SMEs and start ups across multiple initiatives will also further accelerate the innovation and deep-tech development in the nation which will be the bedrock for our economy and our journey to net-zero in the years to come.
14:35 IST, February 1st 2025
Vivek Banka, Founder - GoalTeller On Union Budget
Vivek Banka, Founder - GoalTeller and Financial services veteran
Great budget that will spur demand and consumption that was lagging post the 2 year post pandemic surge. Don't ignore global cues, but despite any short term worries, if at all, this keeps the India Growth story shining. Lets hope the FM is able to maintain the aggressive fiscal deficit target and hence we need to also see what lies in store in the fine print as they have been known to add devils in the detail
Important to note here that capital gains and other incomes are not part of the exemption and hence the benefit is quite directed to the salaried class.
Taxes upto 12.75 lacs will be nil but the minute you cross that threshold the tax will move up from 0 - 63750 ( in the case of 13 lacs of income)
Focus has been more on direct taxes, however no clear path has still been given on indirect taxes especially gst which is a critical element that hopefully shall be addressed soon.
14:32 IST, February 1st 2025
Gaurav Shah, Co-founder and Director, Indian School of Development Management (ISDM) On Union Budget
Finance Minister Nirmala Sitharaman’s eighth consecutive budget presents a bold vision for India’s education and skilling ecosystem, with a sharp focus on creating a future-ready workforce. Thrilled to see an increased focus on strengthening the research muscle in the country to position India as a thought leader in a variety of different areas. To make this happen it is important to visualize universities and higher educational institutions differently from the past and create more enabling frameworks for newer kinds of diverse universities to take shape which contribute to strengthening the 3 main sectors of change- government, markets and civil society.
The establishment of National Centres of Excellence for Skilling in collaboration with global partners is a promising step towards equipping young Indians with the industry-relevant skills needed for the manufacturing and technology sectors. However, for India to truly capitalize on its demographic dividend, the social sector must play a pivotal role in ensuring these opportunities are accessible and affordable for all. Strengthening the social sector and enhancing Development Management capabilities will be crucial in scaling these initiatives to reach millions. By empowering the social sector to design and manage these transformative outcomes effectively, we can unlock the full potential of India’s youth and make a Viksit Bharat a reality.
14:14 IST, February 1st 2025
Gaurav Makhijani (Head of Tax for North India and Gujarat) at Roedl & Partner India
'The Finance Minister, in her Budget speech today, announced major relief to middle class taxpayers, under thenew tax regime. As per the Budget documents, Individuals, Hindu Undivided Families (HUFs), Associations of Persons, and Bodies of Individuals, earning up to INR 12 lakh annually will now be exempt from income tax. This limit is up from the previous limit of INR 7 lakh which was last set in 2023. This is a significant relief provided under the new tax regime. This is implemented through changes in the slab rates and an enhanced rebate under Section 87A of the Income Tax Act, 1961. One needs to be aware that this rebate does not extend to income subject to special tax rates, such as certain capital gains. Also, tax return will have to be filed to claim such rebate. The revised slab structure also benefits taxpayers earning above INR 12 lakh by lowering their overall tax liability, thereby increasing disposable income.
While there was speculation about the old tax regime to be removed for simplicity. This is still in place however with no changes to slab rates and even rebate, making it increasingly less attractive. This, in turn, could lead to its gradual transition out of the system as the government moves towards a new tax framework.
The overall scheme aligns with the government’s focus on boosting middle-class earnings, potentially driving higher consumption and investment. The steady rise in GST collections over past periods may have paved the way for this mega tax relief. The additional consumption power in the hands of middle class and taxpayers, is likely to in-turn contribute to GST collection. The GST collection is now largest contributor as far as tax revenue of government is concerned which provides this comfort to provide significant income tax relief. Overall, the increase in the tax-free income limit to INR 12 lakh under the new regime is seen as a substantial step towards enhancing economic activity,' Gaurav Makhijani (Head of Tax for North India and Gujarat) at Roedl & Partner India
14:11 IST, February 1st 2025
Yezdi Nagporewalla, CEO, KPMG in India
'The Union Budget 2025 is a visionary and inclusive blueprint for India's economic ascent, setting the stage for Viksit Bharat, ready to lead in the global arena. The government's commitment to reducing the fiscal deficit to 4.4% while laying down robust economic foundations for growth of the economy is truly commendable. The emphasis on skilling initiatives, particularly through the establishment of 50,000 Atal Tinkering Labs and the Centre of Excellence in Artificial Intelligence, will empower our youth with the skills needed to excel in a digital economy.
Moreover, the inclusive measures aimed at supporting the start-up ecosystem, women entrepreneurship and rural prosperity, underscore a balanced and equitable approach to development. Strategic initiatives to boost trade and exports, such as the Export Promotion Mission, and BharatTradeNet, the digital public infrastructure for seamless trade documentation and financing, complemented by the Unified Logistics Platform, will significantly enhance the competitiveness of Indian businesses on the international stage.
The proposed introduction of the new Income Tax Bill, which will considerably simplify the existing Income-tax Act, is a much awaited and a landmark move towards simplified tax regime, further fostering a conducive environment for growth and innovation. Also, personal income tax reforms like significantly enhancing the income-tax exemption limit will provide a much needed boost to the middle class and an impetus to economy through additional disposable income available to consumers, additionally, rationalization of TDS/TCS regime will ease the compliance burden of taxpayers,' Yezdi Nagporewalla, CEO, KPMG in India
14:03 IST, February 1st 2025
Himanshu Parekh, Partner, Tax, KPMG in India
'Union Budget, 2025 is a comprehensive and growth oriented Budget of the Modi Government 3.0. There is a strong focus on agricultural growth with initiatives like the Prime Minister Dhan-Dhaanya Krishi Yojana, which aims to develop 100 Agri Districts, and enhanced credit through the Kisan Credit Card, benefiting millions of farmers. The support for MSMEs is also noteworthy, with the introduction of customized credit cards and substantial loans for first-time entrepreneurs, which will undoubtedly invigorate the MSME sector. The emphasis on education and healthcare is also commendable, as plans to expand IIT capacities and establish Atal Tinkering Labs in government schools, will foster innovation and skill development. Infrastructure development is another highlight, with interest-free loans to states and the extension of the Jal Jeevan Mission, ensuring sustainable growth. The financial sector reforms, including raising the FDI limit for the insurance sector and IFSC liberalization, are strategic moves to enhance economic stability and attract investments. Notably, personal income tax reforms like significantly enhancing the income-tax exemption limit will provide a boost to the middle class, while rationalization of TDS/TCS regime will ease the compliance burden of taxpayers. These initiatives collectively aim to accelerate growth, secure inclusive development, and boost the consumption power of India's rising middle class. It's a forward-thinking Budget that sets the tone for India to become a developed economy by 2047,' Himanshu Parekh, Partner, Tax, KPMG in India
14:02 IST, February 1st 2025
Union Budget 2025: What Got Cheaper and Costlier? List
Items That Got Cheaper
Mobile Phones & Accessories – Duty exemptions on 28 new items related to mobile battery production to boost local manufacturing.
Lifesaving Drugs & Medicines – 36 essential medicines fully exempted from Basic Customs Duty to lower healthcare costs.
3Electric Vehicle (EV) Batteries – Reduced customs duties to make EVs more affordable and accelerate green energy adoption. Frozen Fish Paste (Surimi) – Customs duty cut from 30% to 5% to support seafood manufacturers and exporters.
Wet Blue Leather – Duty reduction to benefit the leather industry and improve export competitiveness.
Critical Minerals – Duty cuts on 12 essential minerals used in electronics and battery production.
LEDs & Marine Products – Duty relief to promote energy-efficient technologies and boost marine exports.
Raw Materials for Ship Manufacturing – Duty exemption extended for 10 years to support the maritime sector.
Items That Got Costlier
Flat Panel Displays – Customs duty increased from 10% to 20% to promote local production.
Plastic Products – Higher duties to encourage domestic manufacturing and reduce imports.
Telecom Equipment – Increased customs duty to boost local production and reduce foreign dependency.
13:32 IST, February 1st 2025
Vishal Yeole, Senior Director, Business Advisory On Union Budget
With over 30+ sections governing resident payments, TDS rates ranged from 0.1% to 30%. Simplifying this complex structure has been a key demand, and the government has now initiated steps to rationalize TDS provisions. In terms of dividends, providing administrative relief, no tax will be deducted on dividends paid to individual shareholders if the total amount does not exceed INR10,000.”
A new Fund of Funds (FoF) for start ups with an expanded scope and ₹10,000 crore allocation is set to be established. This is expected to boost the growing AIF industry, attract greater domestic institutional investments, and enhance support for startup-focused Funds of Funds
13:31 IST, February 1st 2025
Harshit Aggarwal, Founder & CEO, Novamax Appliances On Union Budget
The 2025 budget looks very promising for the manufacturing sector with MSME and start-ups garnering the economic growth of the country. The government focuses on enhancing innovation and growth of the sector. We look forward to this investment in infrastructure and technology, with MSMEs generating 37% of manufacturing, making india “the global manufacturing hub” The budget paves the way for putting Indian manufacturing companies on the global forefront. The new schemes like The increased credit guarantee cover and additional customised credit cards for micro-enterprises over the mudiyum portal will help bring more employment opportunities to the youth of the country.
With increasing start-ups, the contribution of a new fund of Rs. 10,000 to 20,000 crore, along with the already existing fund will surely help drive more entrepreneurship in the country and in turn will open the door for new opportunities and ideas. The focus on generating skill development will help improve industries' evolving needs. All these initiatives will facilitate the “Make in India” move, which will help us encourage growth and help Indian businesses to compete on a global scale.
13:31 IST, February 1st 2025
Appalla Saikiran, Founder & CEO, SCOPE On Union Budget
This new ₹10,000 crore Fund of Funds is a much-needed boost for India’s startup ecosystem. For many founders, securing funding—especially in the early stages—is one of the toughest battles. This initiative will give startups the financial push they need to build, innovate, and scale their ideas into impactful businesses.
At the same time, it’s a big win for India’s venture capital ecosystem. Encouraging more homegrown investors to back Indian startups means we’re not just fostering innovation but also building a more self-reliant and resilient funding environment. This move strengthens the foundation of India’s startup story, ensuring that both founders and investors have the support they need to take bold risks and create the next wave of transformative businesses
13:30 IST, February 1st 2025
Ravi Gupta, Creative Director of Gargee Designer’s On Union Budget
The Union Budget 2025 brings a wave of optimism for the apparel and textile industry, particularly with the enhanced credit support and technology adoption incentives for MSMEs. The introduction of the credit guarantee scheme will provide easier access to financing, enabling us to invest in advanced machinery and sustainable materials that align with our commitment to quality and innovation. Additionally, the focus on promoting digital infrastructure and e-commerce presents significant growth opportunities for apparel and textile brands like us.
By integrating digital platforms seamlessly, we can heighten our online presence and streamline operations while reaching out to a much larger and diverse audience. We also welcome the focus of the government on ease of doing business, which would eliminate regulatory barriers and make the environment significantly more robust and inclusive for MSMEs in the fashion industry.
13:29 IST, February 1st 2025
Sunil Damania, Chief Investment Officer, Mojopms On Union Budget
he key highlight of the Budget is income tax relief for the middle class. Additionally, the government has maintained its fiscal glide path, targeting a fiscal deficit of 4.4% of GDP, while emphasizing ease of doing business. Unlike previous Budgets that focused on increasing capital expenditure, this time the priority appears to be efficient deployment of allocated funds rather than just raising allocations.
In our view, these measures will stimulate the consumption cycle, supporting stronger economic growth. With no major negatives and the Direct Tax Code set to be presented next week, this Budget has largely met our expectations.
13:28 IST, February 1st 2025
Saumyajit Roy, CEO and Co Founder, Emoha On Union Budget
The 2025 Budget's commitment to expand medical education with 10,000 additional seats and the goal of adding 75,000 seats in the next 5 years is a critical step toward addressing India's healthcare workforce needs. With our rapidly aging population, this expansion isn't just about numbers – it's about building a healthcare ecosystem that understands and responds to the unique needs of our seniors. The announcement of a ₹10,000 crore Fund of Funds scheme for startups is particularly significant for healthtech innovation. This fresh capital injection will catalyze the development of specialized solutions for elderly care, especially as we see increasing intersection between healthcare delivery and technology. For those of us building in the senior care space, this represents both validation and opportunity to scale our impact.
I'm particularly encouraged by the initiative to establish Day Care Cancer Centers in all District Hospitals, which will significantly improve accessibility to specialized care for our elderly population. As someone deeply involved in senior care innovation, I see this as a game-changing move that aligns perfectly with the evolving healthcare needs of our aging demographic.However, while expanding medical education and infrastructure is crucial, the quality of care ultimately depends on the quality of carers. More needs to be done to promote and support organizations that supply trained carers, ensuring that our seniors receive the compassionate, skilled assistance they deserve.
13:27 IST, February 1st 2025
Nirvaan Birla, Managing Director of Birla Open Minds Education Pvt Ltd and Birla Brainiacs On Union Budget
The Union Budget 2025 presents a forward-looking vision for the education sector, aligning with India’s goal of becoming a knowledge-driven economy. The emphasis on skilling through National Centres of Excellence, the PM Research Fellowship Scheme, and AI-driven education hubs is a commendable step towards strengthening India's human capital and fostering technological innovation. The expansion of IITs, medical institutions, and Atal Tinkering Labs further reinforces the government’s commitment to building a future-ready workforce. The Bharat Net project’s broadband expansion in schools is a welcome move to bridge the digital divide, but its success will depend on effective accessibility and implementation.
However, the real challenge lies in execution. Streamlining PPP models for upskilling, simplifying regulatory frameworks for edtech, and ensuring efficient subsidy distribution will be crucial for achieving meaningful impact. Additionally, greater emphasis on facilitating ease of doing business for private players, including support for trade fairs and global collaborations, would have further strengthened the sector.
As we align with the vision of Viksit Bharat, ensuring that these ambitious initiatives translate into tangible outcomes will be key to empowering students, educators, and institutions. This budget sets a strong foundation, and with strategic execution, it can drive meaningful transformation in India’s education landscape.
13:26 IST, February 1st 2025
Shantanu Bhargava, Managing Director, Head of Listed Investment, Waterfield Advisors On Union Budget
The budget has increasingly turned into an exercise in accounting and finance. It is becoming increasingly irrelevant as a signal of ground breaking economic reforms. Investment management professionals and clients equally are advised to stop anticipating episodic interventions from the budget, as India's more critical economic reforms sit within other ministries, such as company affairs and labour.
Therefore, the budget presents no major unexpected elements. On the plus side, the government is sticking to its fiscal path, which is great for macroeconomic stability and our sovereign rating, and it is also continuing to prioritize public capital expenditure, which is positive for economic growth.
13:24 IST, February 1st 2025
Harshit Aggarwal, Founder & CEO, Novamax Appliances On Union Budget
The 2025 budget looks very promising for the manufacturing sector with MSME and start-ups garnering the economic growth of the country. The government focuses on enhancing innovation and growth of the sector. We look forward to this investment in infrastructure and technology, with MSMEs generating 37% of manufacturing, making india “the global manufacturing hub” The budget paves the way for putting Indian manufacturing companies on the global forefront.
The new schemes like The increased credit guarantee cover and additional customised credit cards for micro-enterprises over the mudiyum portal will help bring more employment opportunities to the youth of the country. With increasing start-ups, the contribution of a new fund of Rs. 10,000 to 20,000 crore, along with the already existing fund will surely help drive more entrepreneurship in the country and in turn will open the door for new opportunities and ideas. The focus on generating skill development will help improve industries' evolving needs. All these initiatives will facilitate the “Make in India” move, which will help us encourage growth and help Indian businesses to compete on a global scale.
13:22 IST, February 1st 2025
Ronik Patel, Founder & CEO of Weam.ai On Union Budget
The enhancement of the Fund of Funds with a ₹10,000 crore contribution represents a significant boost to India's startup ecosystem. While this isn't exclusively focused on AI, the expanded scope opens doors for various sectors, including AI startups that are building innovative solutions. The substantial corpus and broadened investment mandate could create a more robust funding environment across the startup landscape. It will be interesting to observe how different sectors, including the AI industry, leverage this opportunity in the months ahead.
The Rs 500 crore Centre of Excellence in AI for education is a strategic move that recognizes how crucial AI literacy is becoming for India's future workforce. While the investment shows promising intent, the key will be translating this into practical tools and skills that can reach classrooms across India.
13:16 IST, February 1st 2025
Post Budget Reaction: Anuj Sawhney, Managing Director at Swiss Military Consumer Goods Limited
Swiss Military proudly aligns with the Make in India vision, strengthening our commitment to manufacturing and product development within the country. As India moves forward with the National Manufacturing Mission—offering policy support, execution, and a strong governance framework—we are focused on expanding production, localizing supply chains, and bringing more key product development processes to India this year.
By leveraging India’s growing manufacturing capabilities, we aim to deliver world-class, innovative, and affordable lifestyle products while supporting the national goal of Make in India. Investing in local talent and sustainable infrastructure, we ensure that the Swiss Military continues to uphold the highest standards of quality and reliability—now made in India, for India, and the world.
13:14 IST, February 1st 2025
Post Budget Reaction: Agriculture And Edible Oil Sector From BN Group.
ANUBHAV AGARWAL, MD & CEO BN GROUP
The government’s commitment to boosting oilseed production through the National Mission for Edible Oilseeds is a crucial step toward reducing import dependency and strengthening India’s edible oil ecosystem. Increasing the Kisan Credit Card loan limit from ₹3 lakh to ₹5 lakh will empower farmers to invest in better-quality seeds, modern irrigation techniques, and advanced farming practices, ultimately improving yield and profitability. A financially stronger farming community directly translates into a more resilient and self-sufficient edible oil sector, creating long-term value for both producers and consumers.
For the edible oil sector, this push underscores the need for innovation, investment, and strategic expansion to reduce import dependence and enhance domestic production. BN Group's planned investment of $1 billion to expand its edible oil operations into Africa aligns with this vision, and we see this as an opportunity to further our mission of driving sustainable growth in the industry while contributing to India's economic resilience on the global stage.
We also applaud the launch of a six-year mission targeting self-reliance in pulses, with a special focus on tur and masoor, which exemplifies this dedication. By empowering central agencies like NAFED and NCCF to procure these pulses directly from registered farmers, the government is providing a safety net that guarantees income stability for our cultivators. Additionally, the continuation and enhancement of the Kisan Credit Card scheme, with increased loan limits, further demonstrate the government's resolve to provide financial support to farmers, fishermen, and dairy farmers.
12:58 IST, February 1st 2025
Suresh Mansharamani, Business Coach, Co-founder, Tajurba On Budget
Suresh Mansharamani, Business Coach, Motivational Speaker & Co-founder, Tajurba
The Union Budget 2025 will be a defining moment for India's economic trajectory, especially for the stock market. With a projected fiscal deficit target of around 4.4% for FY26, the government's focus on fiscal consolidation alongside increased capital expenditure will be critical for sustained growth. Investors are closely watching potential changes in capital gains tax, following last year’s hike to 20% for short-term and 12.5% for long-term gains. There is also a strong push to abolish the Securities Transaction Tax (STT) to encourage broader market participation. Sector-specific incentives, including tax relief for real estate, PLI expansion in manufacturing, and GST reductions for hybrid vehicles, could significantly boost investor sentiment. A well-balanced budget that prioritizes growth while maintaining fiscal discipline will be key to strengthening market confidence and driving long-term wealth creation.
Additionally, we expect the government to keep supporting entrepreneurship by investing more in areas like AI and IoT and making regulations simpler. This will help startups and MSMEs grow, encourage innovation, and create more jobs. "
12:46 IST, February 1st 2025
Chintan Patel, Partner - Deal Advisory and Head of Building, Construction, and Real Estate at KPMG in India.
‘SWAMIH Fund 2 is a much welcome step from the Hon Finance Minister and will definitely help complete a number of the stranded projects. SWAMIH Fund 1 was a big success and helped a large number of affordable and mid-income home buyers whose projects were stalled due to lack of funds,’ Chintan Patel, Partner - Deal Advisory and Head of Building, Construction, and Real Estate at KPMG in India.
12:45 IST, February 1st 2025
Post Budget Reaction
"The Union Budget’s emphasis on expanding digital access and fostering scientific curiosity through Atal Tinkering Labs and AI Centres of Excellence is a commendable step toward modernizing education. These initiatives will help nurture innovation, critical thinking, and problem-solving skills, ensuring that students are better prepared for a rapidly evolving digital-first world. The expansion of broadband connectivity in government schools is another crucial move that will bridge the digital divide and make quality learning resources more accessible.
Strengthening medical education and AI-skill development through National Centres of Excellence is also a welcome step in building a more capable and future-ready workforce. However, while these advancements lay a strong foundation, we had hoped for a more structured approach to teacher training, ensuring that educators are equipped to effectively implement these programs. Additionally, fostering grassroots transformation through targeted support for educational startups could further enhance accessibility and inclusivity. A well-rounded approach that bridges technology, teacher empowerment, and strong infrastructure will be key to shaping the next generation of innovators and problem solvers," Nischal Narayanam, Founder & Mentor at Nischals
12:29 IST, February 1st 2025
Tax-Free Income Thresholds Over the Years
2005: ₹1 lakh
2012: ₹2 lakhs
2014: ₹2.5 lakhs
2019: ₹5 lakhs
2023: ₹7 lakhs
2025: ₹12 lakhs
12:18 IST, February 1st 2025
New Tax Slab
0- 4 lakh: NIL
4-8 lakh: 5%
8-12 lakh: 10%
12-16 lakh: 15%
16-20 lakh: 20%
20-24 lakh: 25%
over 25 lakh: 30%
12:13 IST, February 1st 2025
Major Update: No Income Tax up to 12 lakh
No income tax up to 12 lakh income
12:10 IST, February 1st 2025
FM on Tax Returns
The FM has announced the deadline to file the tax returns from 2 to 4 years,
12:09 IST, February 1st 2025
Budget 2025 : Key TDS Reforms Unveiled
Simplified TDS Rates: Streamlining deductions with fewer rates and clear thresholds.
Enhanced Senior Citizen Benefits: Doubling interest deduction limit to Rs 1,00,000.
Rent Relief for Small Taxpayers: Raised TDS limit on rent from Rs 2.40 lakh to Rs 6 lakh.
Updated TCS Threshold: Increased threshold on TCS for LRS remittances from Rs 7 lakh to Rs 10 lakh.
12:07 IST, February 1st 2025
New Income Tax Bill: A Step Toward Simplicity
The new income tax bill is crafted with clarity and simplicity in mind, making it easy for both taxpayers and tax administrators to understand. Its direct language aims to reduce confusion, ensuring a more accessible and user-friendly experience for all involved.
12:05 IST, February 1st 2025
Simplifying Taxation: PIT Reforms and Streamlining TDS/TCS Compliance
Reforms in Personal Income Tax (PIT), rationalization of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source), and reducing the compliance burden aim to simplify tax procedures.
12:03 IST, February 1st 2025
FM on Income Tax Bill
New Income Tax Bill To Carry Out Spirit Of Nyaya
12:00 IST, February 1st 2025
FM Announces Adjustments to Basic Customs Duty on Various Goods
The Finance Minister has announced exemptions from Basic Customs Duty (BCD) on 36 life-saving drugs, 35 additional capital goods for electric vehicle (EV) manufacturing, and wet blue leather. Additionally, the BCD on flat panel displays will rise from 10% to 20%, while the duty on fish paste will be reduced from 30% to 5%.
12:00 IST, February 1st 2025
FM Extends BCD Exemption for Shipbuilding
The Finance Minister has proposed to continue the exemption on Basic Customs Duty (BCD) for the manufacture of ships and their parts for the next 10 years.
11:57 IST, February 1st 2025
Govt’s Phenomenal Fiscal Consolidation
The fiscal deficit for FY25 (April 2024-March 2025) was estimated at 4.9% of GDP but the revised estimate as announced By FM came in lower at 4.8 per cent. However, the estimate for Fiscal deficit for FY26 is set lower at 4.4 per cent in comparison to 4.5 per cent target set earlier to be achieved.
11:56 IST, February 1st 2025
Government Focuses on Fiscal Deficit Control
The government's strategy includes managing the fiscal deficit with a commitment to reducing debt steadily over the coming years. For FY25, the fiscal deficit target is 4.8%, with a projected decrease to 4.4% for FY26.
11:51 IST, February 1st 2025
Government to Develop Model Bilateral Investment Treaty to Boost Foreign Investment
The government aims to establish a model Bilateral Investment Treaty to enhance investment conditions and promote continued foreign investment influx
11:49 IST, February 1st 2025
New Income tax bill to be introduced
New Income Tax Bill to Introduce "Trust First, Scrutinize Later" Approach
11:45 IST, February 1st 2025
Budget 2025: Fourth Engine - Exports
The forth engine is ‘Exports’
FM said an Export Promotion Mission will be conducted in collaboration with the Ministery of Comm, MSMEs and Minister of Finance.
Another thing is a new platform will be launched to ease trade called ‘ Bharat Trade and Net’.
11:42 IST, February 1st 2025
Budget 2025: Revamped UDAAN Scheme to Boost Regional Connectivity
The government is set to launch a modified UDAAN scheme, expanding air travel access for aspirational Indians. The upgraded initiative will include 120 new destinations and aims to serve an additional 4 crore passengers, enhancing regional connectivity across the country.
11:38 IST, February 1st 2025
FM On PPP in infrastructure
3-year pipeline of projects by states to be given that can be implemented in private-public partnership (PPP) mode. Each infrastructure-related ministry is to come up with a 3-year plan to be implemented in PPP mode. The outlay of ₹1.5 lakh crore is proposed for 50-year interest-free loans, said FM
11:37 IST, February 1st 2025
FM: Power Sector Reforms
Additional Borrowing of 0.5 per cent of GSDP will be allowed for States for Power Reforms
11:37 IST, February 1st 2025
FM Announces Rs 1.5 Lakh Crore State Capex Linked Loans and Rs 1 Lakh Crore Urban Challenge Fund for FY26
The Finance Minister has allocated Rs 1.5 lakh crore for State capital expenditure (capex) linked loans for FY26. Additionally, a new Urban Challenge Fund of Rs 1 lakh crore will be established to support the redevelopment of cities.
11:40 IST, February 1st 2025
India Launches Nuclear Energy Mission: Targeting 100 GW by 2047
In a landmark move, India's Finance Minister has unveiled a Nuclear Energy Mission aimed at accelerating the country's shift to clean energy. The mission sets a bold objective of achieving 100 GW of nuclear power capacity by 2047. Key amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will promote private sector involvement. A dedicated ₹20,000 crore initiative for Small Modular Reactors (SMRs) research and development is also announced, targeting the operation of at least five indigenous SMRs by 2033.
11:31 IST, February 1st 2025
FM: On AI
She also said the govt will focus on AI as well will lay 3 centres of excellence on AI for education.
11:27 IST, February 1st 2025
FM on IIT
FM speaks about the expansion of IIT. For those built after 2014, additionally infrastructure will be added for the students and sepcially she mentioned about the expansion plan of IIT Patna
11:25 IST, February 1st 2025
FM: Third Engine is investment
After giving the first two engine the FM announced the third engine which is ‘Investment’ which also goes into 3 parts
Investment In people
Investment in Economy
Invstemnt in Innovation
11:23 IST, February 1st 2025
Union Budget 2025: 5-Year Mission to Boost Cotton Productivity
The Finance Minister announced a five-year Mission for Cotton Productivity to enhance the production of Extra Long Staple (ELS) cotton varieties, ensuring high-quality cotton output. This initiative is expected to strengthen India's traditional textile sector and boost its global competitiveness.
11:23 IST, February 1st 2025
Union Budget 2025: Government Boosts Nutrition-Focused Initiatives
The Finance Minister unveiled a comprehensive program to enhance the production and availability of vegetables and fruits, recognizing the rising awareness of nutritional needs among citizens. With increasing incomes driving higher consumption of nutritious foods, the government aims to support this shift through targeted initiatives, ensuring improved access to essential food items for a healthier India.
11:22 IST, February 1st 2025
Union Budget 2025 Live Update: Kisan Credit Card Loan Limit Expanded
In a major update, the Finance Minister has declared that the Kisan Credit Card (KCC) will continue to aid 7.7 crore farmers, fishermen, and dairy farmers with short-term loans. Moreover, the loan limit under the revised interest subvention scheme has been raised from ₹3,000 to ₹5,000 for KCC loans, offering enhanced financial assistance for agricultural activities.
11:19 IST, February 1st 2025
FM On Startups
Startup Credit Increased From 10 Crore To Rs 20 Crore.
11:17 IST, February 1st 2025
FM: Second Engine - MSMEs
In the 2025 budget, the Finance Minister announced that the MSMEs is the second engine.
11:16 IST, February 1st 2025
FM On Crop diversification
She also spoke about the crop diversification, irrigation facilities and availability of credit helping the 1.7 Crore Farmers
11:13 IST, February 1st 2025
FM Calls Agriculture the First Engine of Growth in Budget 2025
While presenting Budget 2025, the Finance Minister announced the launch of the Developing Agri Districts Programme, modeled on the Aspirational Districts Programme.
The initiative aims to support 1.7 crore farmers through crop diversification, improved irrigation facilities, and enhanced credit access. Additionally, the scheme will focus on post-harvest storage augmentation to strengthen the agricultural sector.
11:11 IST, February 1st 2025
FM: 'Transformative' reforms in 6 areas
While presenting the budget 2025, Finance Minister said that the Budget aims at 'transformative' reforms in 6 areas including Taxation, financial sector, power sector, urban development, mining, regulatory reform
11:09 IST, February 1st 2025
FM: Four Mesures
A griculture, MSMEs, Investment and exports
11:05 IST, February 1st 2025
FM presents the Union Budget 2025
Finance Minister Nirmala Sitharaman presents the Union Budget 2025 -26.
10:54 IST, February 1st 2025
Union Cabinet approves the Union Budget 2025-26
Union Cabinet approves the Union Budget 2025-26
10:35 IST, February 1st 2025
Union Home Minister Amit Shah arrives at parliament
Union Home Minister Amit Shah arrives at parliament as Union Budget 2025 will be tabled in Lok Sabha, today, by Union Finance Minister Nirmala Sitharaman
10:33 IST, February 1st 2025
Stock Market Update: Sensex Up By 180 Pts and Nifty Above 23,500
As the budget day is here, the Indian stock market is performing decent only with Sensex Up by 180 Pts and Nifty Above 23,500.
Top Gainers - IndusInd Bank, ITC Hotels, Sun Pharma, Infosys and Tata Motors
Top Losers - Titan, Dr Reddy, Nestle India, TCS and HUL
10:26 IST, February 1st 2025
Cabinet Meeting Begins
Cabinet Meeting Begins. FM will present the Union Budget shortly.
10:24 IST, February 1st 2025
Suhel Seth On Budget Expectations
In a conversation with Republic world, Suhel Seth, Founder And MD Counselage India, said that “There is an employment issue and it is almost crisis-like. The jobless growth is something they need to act with firmness…”. The statement comes ahead of Finance Minister Nirmala Sitharaman 's presentation of the budget today, Februrary 1, 2025.
10:20 IST, February 1st 2025
Budget 2025 LIVE Updates: President Murmu feeds FM Sitharaman The customary 'dahi-cheeni'
Budget 2025 LIVE Updates: President Droupadi Murmu feeds Union Finance Minister Nirmala Sitharaman the customary 'dahi-cheeni' (curd and sugar) ahead of her Budget presentation.
Union Finance Minister Nirmala Sitharaman will present her 8th consecutive Union Budget, today in Parliament.
10:11 IST, February 1st 2025
Budget Live: Defence Minister Rajnath Singh arrives at the Parliament
Budget Live: Defence Minister Rajnath Singh arrives at the Parliament. Union Finance Minister Nirmala Sitharaman will present the #UnionBudget2025 at the Parliament today.
10:01 IST, February 1st 2025
Union Budget 2025 LIVE updates: Finance Minister Nirmala Sitharaman arrives at the Parliament
Union Budget 2025 LIVE updates: Union Finance Minister Nirmala Sitharaman arrives at the Parliament, after meeting President Droupadi Murmu at Rashtrapati Bhavan. She will present Union Budget at the House, shortly.
09:57 IST, February 1st 2025
FM leaves for Rashtrapati Bhavan
Union Budget 2025 LIVE updates: Union Finance Minister Nirmala Sitharaman leaves from Rashtrapati Bhavan after meeting President Droupadi Murmu.
09:55 IST, February 1st 2025
Union Budget 2025-26 Live: Ajay Bagga On Budget 2025
Union Budget 2025-26 Live: Speaking to Arnab Goswami, Editor-in-Chief of Republic TV, in a pre-budget discussion, market expert Ajay Bagga made one thing clear: there will definitely be headlines. Here are the key factors that could make or break the budget, according to Bagga.
Hope for trade deals
The global economy will be shaping India’s budget priorities. Bagga stressed the ongoing trade tensions between the US and its partners, particularly China, which continue to unsettle the global supply chain. With US tariffs impacting countries like Canada, Mexico, and China, India finds itself in a precarious position, particularly when it comes to exports.
Job creation & fiscal discipline
Bagga identified job creation as one of the top priorities for the government. With income generation at the forefront, the key to reviving the economy lies in boosting employment opportunities. The government’s focus on creating self-reliance through small and medium enterprises could be crucial in achieving this goal.
Reform stimulus to counter economic pressures
Given the constrained fiscal space, Bagga highlighted the limited scope for large-scale fiscal stimulus. With the government already borrowing a massive Rs 16 lakh crore annually, direct financial relief seems out of reach. However, Bagga advocates for “reform stimulus” – a set of policy measures that ease regulations and make it simpler for businesses to thrive in India’s complex ecosystem.
A key issue for Bagga is the Reserve Bank of India’s ( RBI ) overly cautious stance in the past few months. "The RBI missed a trick by not cutting rates sooner," he said, stressing that an accommodative stance from the central bank could have helped cushion the economy against the current slowdown.
09:42 IST, February 1st 2025
Budget 2025 LIVE Updates: FM Saree is a tribute to Madhubani Art
Budget 2025 LIVE Updates: Union Finance Minister Nirmala Sitharaman is wearing a saree as a tribute to Madhubani Art and the skill of Padma awardee Dulari Devi.
09:39 IST, February 1st 2025
Union Budget 2025 LIVE updates: FM Meets President Droupadi Murmu
Union Budget 2025 LIVE updates: Union Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary meet President Droupadi Murmu at the Rashtrapati Bhavan
09:34 IST, February 1st 2025
Opening Bell
The Indian stock market opened in green today with sensex up by 150 pts and nifty above 23,500
09:29 IST, February 1st 2025
FM Nirmala Sitharaman to Present Budget Digitally via Tab
Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 in Parliament today. Breaking away from tradition, she will read out the Budget using a digital tablet instead of the customary 'bahi khata.'
09:22 IST, February 1st 2025
Budget documents being taken inside the Parliament.
09:19 IST, February 1st 2025
Copies of Union Budget 2025 In Parliament
Copies of Union Budget 2025 are brought to parliament as Union Finance minister Nirmala Sitharaman will today table her 8th Union Budget, for the fiscal year 2025-26, in Lok Sabha.
09:19 IST, February 1st 2025
Union Budget 2025
Ratun Lahiri, Senior Advisor at Unicorn Ventures India, shares her perspective on what has changed in this year’s budget compared to last year’s. He said, "The government has made significant efforts to support startups, including the removal of angel tax, which has provided a boost to the startup ecosystem. India remains optimistic about economic growth, but challenges persist, including slow expansion and financial strain on the middle class. To drive sustained progress, there is a need to increase disposable income for the middle class, which has been most affected."
09:27 IST, February 1st 2025
FM Nirmala Sitharaman leaves from the Ministry of Finance.
09:07 IST, February 1st 2025
CEA Dr V. Anantha Nageswaran Reaches Finance Ministry
Chief Economic Advisor Dr. V. Anantha Nageswaran Arrives at Ministry of Finance
08:59 IST, February 1st 2025
FM Nirmala Sitharaman arrives
Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance. She will present Union Budget 2025 at the Parliament today.
08:58 IST, February 1st 2025
Budget Expectations: D. S. Negi
D. S. Negi, CEO, Rajiv Gandhi Cancer Institute & Research Centre (RGCIRC) comments on healthcare expectations of the healthcare sector, "The budget must prioritize digital health solutions such as telesurgery, electronic health records (EHRs), and AI-driven diagnostic tools to improve healthcare delivery. There should also be a strong focus on enhancing nationwide cancer screening programs and providing access to cutting-edge treatments like immunotherapy and personalized medicine."
08:56 IST, February 1st 2025
The Economic Survey presents a compelling argument for Ease Of doing Business
A second wave of Ease of Doing Business changes, known as Ease of Doing Business 2.0, has been advocated by the survey. The report has also recommended corporate India to use artificial intelligence (AI) with caution, given worries about how it can affect labour markets.
08:53 IST, February 1st 2025
Budget Expectation: Saurabh Dhanorkar On Urban Development
Saurabh Dhanorkar, Managing Director, Finolex Industries Limited said, “The Union Budget 2025-26 presents an opportunity to drive sustainable growth by focusing on urban development and modernization. Enhanced allocations for affordable housing under the Pradhan Mantri Awas Yojana will significantly boost urban housing projects, increasing the demand for reliable plumbing infrastructure and durable PVC pipes and fittings."
08:45 IST, February 1st 2025
Budget Expectations - Suhel Seth On Employment
Suhel Seth, an Indian businessman and columnist who is the founder and managing partner of the consultancy firm Counselage India, said, “There is a crisis like employment growth, they need to address jobless growth." Mineral rich states are impoverished, which is ironic, he said. "Not optimistic about the budget I am realistic about it." he added. “Freebie culture needs to stop. More and more people don't want to work anymore.” he added.
08:43 IST, February 1st 2025
Budget Expecations - Ajay Bagga
“Fiscal space is constrained, you are borrowing Rs 16 lakh crore. To give relief you have to tax or get money, Monetary stimulus from RBI , they should have cut rates earlier. This is part of the reason of slowdown.” He also said that the government have to create ease of living and cut down regulation," Market Expert Ajay Bagga
08:41 IST, February 1st 2025
Budget Expectations - Tax reforms and supports for MSMEs
‘Mostly the MSME retailers are waiting for the tax adjustment and other schemes in the upcoming budget. Simplified GST structures and lower compliance costs can alleviate operational burdens and foster ease of doing business. Tax rebates or subsidies for small and medium-sized retailers on the use of electronic payment and ecommerce systems will boost their development. In addition, setting up a fund targeted for low-interest rate loans to retailers can help ease the working capital situation such that they can grow the businesses and invest in newer products. Such measures will allow the continued growth of the sector and its contribution towards the economy,’ Ridhima Kansal, Director, Rosemoore
08:40 IST, February 1st 2025
Budget Expectations - Boosting retail infrastructure and adoption of technology
‘The retail space is hoping that the Union Budget 2025 will be able to enhance the infrastructures as well as promote technology use. Spending on modern logistics and supply chain infrastructure especially in Tier 2 and Tier 3 towns will be critical in making operations more efficient and cost effective for the retailers. Allowances for the incorporation of technology such as Artificial Intelligence, Internet of Things and data analytics through grants or tax exemption will enable retailers to effectively manage their stock levels, improve the experience of the buyers and increase productivity. In addition, expanding smart warehousing capabilities and enhancing last mile distribution systems will support the increasing utilization of multichannel retailing that supports physical and digital channel convergence,’ Raghunandan Saraf, Founder and CEO, Saraf Furniture
08:24 IST, February 1st 2025
Economic Survey 2025 Projects India’s Growth Between 6.3-6.8% In FY26
India's real GDP growth is seen between 6.3-6.8 per cent in FY24, according to the Economic Survey presented in Parliament by Finance Minister Nirmala Sitharaman on January 31.
08:18 IST, February 1st 2025
Indian Stock Market Closed Higher On Friday
Post the economic survey on Friday, the Indian stock market closed higher today, with Sensex up by 700 pts and nifty above 23,500
08:14 IST, February 1st 2025
Reaction on Economic Survey
'The Economic Survey 2025 highlights India’s commitment to sustainable and inclusive growth, evident in its large-scale infrastructure investments, social sector reforms, and digital transformation. Public sector spending on healthcare and education has seen significant expansion, with social services expenditure growing at a CAGR of 15% from FY21 to FY25, ensuring broader access to essential services.
In rural India, transformative initiatives like the Swachh Bharat Mission-Grameen Phase II have propelled 1.92 lakh villages to ODF Plus status between April and November 2024, reinforcing public health and sanitation standards. Simultaneously, strategic industrial growth is being fostered through initiatives like the National Industrial Corridor Development Programme, with 3,788 acres allotted for industrial use in key sectors. The rapid expansion of India’s transportation network—featuring new railway corridors, Vande Bharat train launches, and improved port efficiencies—continues to boost economic productivity.
Going forward, there is a need for increased private sector participation, which is complemented by government-led digital and infrastructure initiatives to boost productivity, employment and bring on track the GDP target such that India is poised to sustain its economic trajectory, creating a more competitive and resilient economy for the future.
This collaboration between the government and industry will be crucial as the world faces uncertainties with the change in leadership in the US, advancements in AI, and ongoing geopolitical issues,' Yezdi Nagporewalla, CEO, KPMG in India
08:07 IST, February 1st 2025
Budget Expectations: Energy Sector
Baroruchi Mishra, Group CEO, Nauvata Energy Transition (NET) Enterprise Pvt. Ltd.
1. Export
Trump 2.0 (read enhanced tariffs) and the ongoing geopolitical flares will continue to keep global trade volatile. Nothing that the Indian government does will guarantee that our exports are sat safe in querencia. India will have to sweat it out to get to its $2 trillion export target by 2030, and reduce the over $200 billion trade deficit in the near term. We expect the government to announce steps on the following:
Increase export competitiveness not just through the rupee devaluation, which might have already reached an inflection point beyond which it start hurting growth, if not already.
Higher focus on manufacture of equipment and machinery – both for exports and for enabling increased multifactor productivity, especially in farm/agricultural sector. India’s Digital stack is doing its job in increasing productivity but now it is the hardware that will be needed to make the difference.
Thrust on exports from manufacturing (while keeping the momentum on the services sector), especially through decluttering and simplifying the delivery mechanisms of the government schemes like PLI or schemes to support to MSMEs which are currently in a quagmire of red tapes of the bureaucracy and the banking systems.
2. Increased spending power
More disposal income in the hands of the consumers will give a fillip to growth. We expect the following from the government:
Steps to tame inflation, especially food inflation, to spur rural demand.
Rationalization of the tax structure – bringing larger population within a tax net while reducing burden on the low, middle-income groups.
Mechanisms to cut the current interest rate structures, which are a big deterrent to borrowing to increase consumption.
3. Infrastructure spending
This is key component for increasing the multiple factor productivity of the economy and yet the areas which need most attention – poor infrastructure in the cities like Bangalore which could be burning over $1 billion dollar in traffic jams , is not suitably addressed. This is in the State-List but clearly, the local delivery vehicles have failed. It is expected that the Budget will figure out a way to address this issue.
4. Climate Financing:
India is one of the most affected countries by climate change; billions are spent in dealing with the aftermath of climate change. Some form of carbon pricing or carbon tax, however small, to change behaviors of the players in the hard to abate sectors – Steel, Cement, and Power will be needed.
This will be key to ensuring projects in carbon capture and storage are implemented and enough is available for innovation and R&D in technologies that help reduce the costs in this sector. The pusillanimous attitudes towards dealing with the need for carbon capture and storage to combat climate change (beyond wind and solar) need to be changed ASAP. This Budget can make a start.
07:28 IST, February 1st 2025
Budget will be present in two parts
The budget session will take place in two parts. The first part will take place from January 31st to February 13 2025. The second part will begin on march 10 and will be concluded by April 4 2025.
07:21 IST, February 1st 2025
FM Nirmala Sitharaman To present her 8th Budget
Finance Minister Nirmala Sitharaman is all set to present her 8th budget today. However, this is her eight consecutive budget under the third term of Prime Minister Modi.
07:00 IST, February 1st 2025
Budget Expectations
'The upcoming Union Budget presents a critical juncture for the renewable energy sector, particularly wind and solar, which currently contribute approximately 10% of India's total energy capacity. We anticipate the government will allocate increased funding for crucial initiatives to achieve the ambitious target of 500 GW of renewable energy by 2030.
Extension of Section 115BAB Sunset: Section 115BAB of the Income-tax Act, 1961 ("IT Act") provides for an optional lower tax rate of 15% (effective rate of 17.16% including surcharge and cess) for new domestic manufacturing companies that do not avail of any specified incentives or deductions and meet prescribed conditions. One such condition is that these new manufacturing companies commence manufacturing or production by March 31, 2024. As the industry is still recovering from the aftereffects of COVID-19 and is now finally on a growth trajectory, extending the sunset for the next 3 years for renewable energy companies is crucial to attract investment, stimulate overall economic growth, and encourage environmental conservation.
Subsidies for Energy Storage and Smart Grid Technologies: Subsidies for energy storage and smart grid technologies are paramount to ensure grid stability as we scale up our renewable energy capacity.
The government's commitment to achieving these targets will drive growth for our sector and align with India's broader sustainability goals,' Parag Agarwal, CFO, Juniper Green Energy
06:39 IST, February 1st 2025
Will the Stock Market Open on Budget Day?
Yes, the Stock Market will remain open on February 1 to allow investors to respond swiftly to budget announcements. Regular trading hours will be followed, enabling stakeholders to assess the fiscal policies and their impact on the markets.
This decision aligns with the government’s strategy of presenting budgets on Fridays or Saturdays, ensuring markets and stakeholders have adequate time to analyze changes.
06:38 IST, February 1st 2025
Budget 2025: Primary Focus
Union Budget 2025 will highlight themes like ‘Amrit Kaal’ and ‘Viksit Bharat,’ aligning with India’s long-term vision of becoming a developed country by 2047. Key expectations include:
As India eagerly awaits Budget 2025, all eyes are on how it will shape the nation's economic path for the upcoming financial year.
06:38 IST, February 1st 2025
Budget 2025 Date And Time: When will FM Nirmala Sitharaman present the Budget?
Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2025 on February 1, 2025. The budget speech is expected to begin at 11 am. Further updates from the Ministry of Finance are awaited.
Get the latest live news on Republic Business, along with breaking news and top headlines from Budget 2025, business, economy, markets, and around the world.
Published 06:44 IST, February 1st 2025