Updated 20:54 IST, January 25th 2025
Porinju Veliyath’s Expectations for Union Budget 2025: Simplify Taxes, Focus on Growth
Porinju Veliyath discusses key priorities for Union Budget 2025, including tax reforms, growth strategies, and attracting global investment.

As the countdown to Union Budget 2025 begins, stock market guru Porinju Veliyath offers a candid take on what the government should prioritise to fuel growth, boost investor confidence, and strengthen India’s position on the global investment map.
Veliyath, known for his eye on market trends, believes that while the budget isn’t directly tied to the stock market, its focus must remain on one overarching goal: reform-driven growth. He stressed that India cannot afford to step away from this path, but his key concern lies in the country’s complex taxation system—a system that, according to Veliyath, is far too convoluted for its own good.
"We need corrective steps toward simplifying our tax regime," Veliyath said. He acknowledges the government's steps to simplify taxes under the Modi administration. Beyond simplifying tax structures, Veliyath also calls for further reduction in personal income tax rates. Currently at 39%, India’s tax rates remain some of the highest, making it tempting for high-net-worth individuals to explore tax havens like Dubai. Veliyath advocates for a more competitive approach that encourages retention of talent and investment within the country.
When it comes to market volatility in the run-up to the budget, Veliyath is calm. He advises investors not to panic or expect the budget to bring major sector-specific windfalls or dramatic shifts. Gone are the days when the budget announcement could send stock prices soaring or plummeting overnight, as was often the case in the 90s. Today, he says, markets have stabilized, and short-term reactions to budget news are typically brief. The focus, Veliyath insists, should be on steady long-term growth rather than speculative gains.
For investors holding cash, Veliyath suggests waiting to see the budget's impact before making moves, but encourages those already invested to remain steady.
Lastly, Veliyath remains optimistic that the government’s continued focus on making India a top investment destination will reflect in the budget, with positive steps aimed at attracting global capital.
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Published 20:54 IST, January 25th 2025