Budget 2025: Key Expectations from FM Nirmala SitharamanUnion Budget 2025: Key Expectations Across Sectors<\/p>\n
The Union Budget 2025, which Finance Minister Nirmala Sitharaman will present on February 1, marks her eighth consecutive budget, making history. This budget is expected to drive economic growth and tackle prevailing challenges across multiple sectors.<\/p>\n
Agriculture & Taxation
\nThe budget will likely emphasize agricultural development by enhancing productivity and providing greater support for farmers. Proposed tax reforms may include discontinuing the old tax structure and introducing zero income tax for individuals earning under \u20b910 lakh annually, though official confirmation is awaited. Balanced fiscal consolidation while maintaining economic momentum remains a key concern, particularly with inflationary pressures.<\/p>\n
Real Estate Sector
\nIndustry stakeholders are pushing for the real estate sector to receive ‘industry’ status, enabling easier financing and regulatory benefits. Niranjan Hiranandani, Chairman of NAREDCO, has outlined key priorities:<\/p>\n
Affordable Housing: Increased funding to rejuvenate this sector and ensure sustainable urban expansion.
\nHome Loan Tax Benefits: Raising the deduction limit on home loan interest from\u20b92 lakh to\u20b95 lakh to encourage homeownership.
\nInfrastructure Status: Granting infrastructure recognition to housing to unlock investment opportunities.
\nUrban Development: strengthening energy and transport infrastructure for long-term growth.
\nRental Housing: Expanding rental markets and eliminating the tax on unsold properties.
\nTax Adjustments: Modifying capital gains tax and rationalizing income tax slabs to benefit taxpayers.
\nSlum Redevelopment: encouraging redevelopment projects, particularly in Mumbai, to increase housing supply.
\nTechnology & Innovation
\nCalls for increased funding for artificial intelligence (AI) and technological advancement highlight the role of innovation in economic transformation. Suresh Khadakbhavi, CEO of Digi Yatra Foundation, stresses the need for a business-friendly environment with digital solutions such as cloud services, SaaS technologies, and integrated travel platforms to enhance the customer experience.<\/p>\n
Travel & Tourism
\nThe tourism industry, which contributes approximately $178 billion to GDP, is projected to reach $125 billion by FY 2027. Experts are advocating for tech-driven initiatives to enhance seamless travel experiences and align with India’s digital growth vision. Incentives for tech adoption in tourism could create a more sustainable and competitive industry while improving traveler experiences.<\/p>\n