Union Budget 2025 Expectations: The Government of India is going to present the budget of 2025 on February 1, in which many steps are expected to be taken to boost the country's economy. Many ways are being considered in the budget, including tax exemption to provide relief to the middle class, changes in tariffs to protect the industry from external pressure and to increase employment.

The government plans to present this budget as a sign of improving the economy, business and lifestyle of the people. According to ET, boosted by the recent election victories in Maharashtra and Haryana, the Modi government aims to send a strong message that it is continuously working for development.

Middle class may get relief

Steps to provide tax relief for the middle class are being discussed in the budget. Under the new tax regime, exemptions can be given to individuals and the idea of ​​simplifying corporate tax is also being considered. Apart from this, there is also a plan to simplify Tax Deducted at Source (TDS).

As of now, 30 percent tax is levied on annual income of more than Rs 15 lakh. By giving relaxation in this, it is expected to boost demand in urban areas. The government can make changes in the tax slab to provide relief to the people, so that more people can benefit.

Job growth and investment promotion

Emphasis will also be laid on employment generation in the budget. Especially on the basis of three employment-linked incentive schemes announced in the July budget, the government can take some big steps. Apart from this, special attention will also be given to the government's capital expenditure (Capex), so that private investment can be encouraged and the industry can be encouraged to move forward.

Tariff changes and foreign investment

In view of the threat of cheap imports from China, the government is considering changes in tariffs, so that the country's industry can be protected from foreign influence. Along with this, many methods are also being discussed to attract foreign investment, which can be included in the budget.

How much will GDP increase?

India's GDP growth is expected to be 6.4 percent in the financial year 2024-25. This is much less than the 8.2 percent growth of the last financial year 2023-24. In such a situation, the government's focus will be on increasing the pace of the economy, promoting demand and attracting investment.

It is expected from this budget that it will not only boost the country's economy but will also provide relief to the common man and the industry.