More Jobs, Cheaper Goods, and Tax Relief: Key Expectations from Budget 2025
Anticipation Builds as India Awaits Budget 2025:Â With the Union Budget 2025-26 set to be presented on Saturday, expectations are running high across different sectors of society. From households seeking relief from inflation to youth looking for job creation measures, the budget is expected to introduce policies that address both economic expansion and fiscal discipline.
A major focus remains on tax relief, with taxpayers and businesses hoping for adjustments in tax slabs, increased exemptions, and greater deductions. Additionally, the government is likely to prioritize growth-oriented reforms while maintaining fiscal prudence.
What Taxpayers Are Expecting
One of the most awaited announcements in this year’s budget is income tax relief. Many salaried individuals and small business owners are calling for an increase in the tax exemption limit, hoping that the current threshold of ₹5 lakh under the old tax regime will be raised to ₹7.5 lakh or even ₹10 lakh.
A Mumbai-based banker emphasized the need for long-overdue tax slab revisions, while another salaried individual in Prayagraj echoed similar sentiments, stating that an increase in exemption limits would provide much-needed financial relief.
Current Tax Relief Expectations Include:
- Raising the standard deduction, currently at ₹50,000 under the old regime and ₹75,000 under the new tax regime
- Expanding tax-free income slabs to ₹10 lakh
- Providing additional benefits for women and senior citizens
Inflation and Cost of Living Concerns
As prices of essential commodities, transportation, and services continue to rise, many citizens have voiced their concerns about inflation and affordability.
Sangeeta Singh, a school teacher in Delhi, emphasized the need to control inflation, particularly in household expenses and travel costs. Similarly, a Mumbai resident highlighted the impact of rising daily expenses on common citizens, urging the government to take bold steps in curbing inflation.
Budget 2025 is expected to introduce measures to stabilize food prices, reduce supply chain inefficiencies, and bring down logistics costs through GST reforms and targeted subsidies.
Job Creation and Employment Opportunities
For India’s young workforce, the creation of new job opportunities remains a top concern. Many students and recent graduates hope for policies that encourage employment generation in both public and private sectors.
A student in Prayagraj specifically called for initiatives to simplify education loan processes and provide more job opportunities for the youth. Infrastructure projects, startup support, and incentives for businesses are expected to play a role in enhancing job creation in the coming years.
Balancing Growth with Fiscal Prudence
The government aims to strike a balance between economic expansion and fiscal discipline. As part of its fiscal consolidation plan, the budget is expected to bring down the fiscal deficit from 4.9% in FY25 to 4.8%, with a target of 4.5% in FY26.
Additionally, there is speculation that the government may introduce targeted tax breaks for key industries, further boosting manufacturing, exports, and digital infrastructure.
What Lies Ahead?
With the presentation of Budget 2025 just around the corner, all eyes will be on Finance Minister Nirmala Sitharaman as she outlines the government’s financial roadmap. Whether the budget meets the expectations of taxpayers, businesses, and working professionals remains to be seen, but one thing is certain—it will shape India’s economic trajectory for the years to come.
Also see:
Auspicious Amrit Snan at Maha Kumbh 2025
Blue Origin New Glenn Rocket Launch Delayed
China Considers TikTok US Sale to Elon Musk
Maha Kumbh Mela 2025: A Historic Convergence of Devotion and Tradition
—————————————————————
It would mean the world to us if you follow us on Twitter, Instagram and Facebook.
