Budget 2025 expectations highlights: What India wants from FM Nirmala Sitharaman on February 1

Budget 2025 expectations LIVE: Suresh Khadakbhavi, CEO, Digi Yatra Foundation, "The travel and tourism industry continues to be a critical driver of India’s economic growth, contributing approximately $178 billion to the GDP. With the travel market projected to reach $125 billion by FY 2027 and international tourist arrivals expected to grow significantly, this year’s budget presents an opportunity to create an environment that promotes innovation and ease of doing business with a strong focus on an end-to-end seamless Customer Experience.

Technology continues to be a key enabler of growth in this space, with advancements in cloud solutions, SaaS technologies, and digital platforms transforming the traveler experience. There are over 1500 startups in the tourism industry that offer technology solutions to travel service providers. Initiatives like Digi Yatra, which leverage technology to enhance seamless airport experience, align perfectly with the government’s vision of a tech-driven economy, such Privacy Preserving and Decentralized Ecosystems need to be strongly promoted. We are looking forward to policymakers introducing incentives and frameworks that support tech adoption in the tourism sector, ensuring a sustainable and competitive ecosystem for businesses while delivering unmatched experiences for travelers.

Furthermore, in the industry at large, granting infrastructure status to smaller projects, simplifying the licensing process, and rationalising GST structures are some of the critical reforms that can help reduce operational hurdles for travel and hospitality businesses. These measures would encourage more investments, support budding entrepreneurs, and strengthen India’s position as a global leader in tourism."

Budget 2025 expectations LIVE: Dhiresh Bansal, Chief Financial Officer at Meesho said, “The Union Budget 2024 introduced significant measures like reduced TDS rates, laying a strong foundation for SMEs and the e-commerce sector. As we look ahead to the Union Budget 2025, we hope for further reforms that simplify taxes and regulations, ease compliance, and strengthen digital infrastructure. Specifically, relaxing the requirement for a Physical Place of Business (PPOB) in every state by enabling a Virtual Place of Business will greatly enhance the ease of doing business for online sellers. Additionally, facilitating the paperless movement of goods for B2C shipments will streamline operations and support the growth of small businesses in India, fostering innovation and inclusive growth in India's digital economy.”

Budget 2025 expectations LIVE: Nishant Pitti, Chairman of EaseMyTrip said, “India's tourism industry looks forward to benefits and reforms from the Union Budget 2025. With the prevalence of technology increasing by the day, we expect the government to come up with initiatives to redefine travel experiences with modern technologies like AI, IoT, and VR adaptability. The three major sectors that need more attention are infrastructure development with a special focus on Tier II and Tier III cities and increasing the number of airports, policies that encourage niche tourism segments, and fund allocation for smart tourism for both domestic and international travellers.

Continuing the stride of spiritual and domestic tourism through schemes like PRASHAD, Dheko Apna Desh, Swadesh Darshan 2.0, and more, we expect the government to fund more states to develop tourism centres and encourage travellers to travel to India. Curating ergonomic and sustainable solutions with emphasis on improving the travel experience is a key to growth, and lowering tax rates on travel and stay bookings along with reductions to TCS are expected.

Talking about stays, abolishing the categorical implementation of 18% on a certain standard of rooms will help maintain good number of inbound tourists, as well as deduction of taxes at the manufacturing level of the travel industry will help improve an overall economy flow and make travel a better experience We also expect will Investing in skill development to address the industry’s skill gap and training for the people working in this domain can improve the quality of the service they provide, thereby acknowledging that the travel industry provides about 10% jobs to the country’s talents. As a country that is a key location for inbound and outbound travel, we expect visa policies to be relooked at, providing ease to travellers in terms of time and value. Lastly, the country is positively moving towards mental health care and sustainability; keeping that in mind, we look forward to a budget that introduces wellness policies for the citizens.

We are looking forward to Budget 2025, with high expectations for the travel industry’s economical and infrastructural growth that makes India a one-stop destination for both domestic and international travellers. Additionally, looking 5 years ahead, the industry is projected to reach $125 billion by FY 2027, with advanced technologies being used and increased awareness and adoption of sustainable practices, more luxury bookings attributed to disposable income, and an overall quality-oriented and tech-powered travel experience.”

Budget 2025 expectations LIVE: Niranjan Hiranandani, Chairman of NAREDCO, the national body representing the Indian real estate industry, said the following:

"Increase Funding for Affordable Housing:

The affordable housing segment is currently experiencing negative growth. We urge an escalated flow of funds to reinvigorate this crucial sector, thereby promoting inclusivity and sustainable urban development.

Enhance Home Loan Tax Deduction Limits:

To support homebuyers, we advocate increasing the tax deduction limit on home loan interest payments from Rs. 2 lakh to Rs. 5 lakh, making home purchases more affordable and stimulating market demand.

Grant Infrastructure Status to the Housing Sector:

Recognizing housing as infrastructure will unlock new avenues for investment and development, positioning the housing sector as a cornerstone of national infrastructure.

Improve Urban Infrastructure:

Alongside housing, enhancements in energy and transportation infrastructure are indispensable. We underscore the necessity of these areas for sustainable urban growth and improved quality of life.

Expand Rental Housing:

To improve rental affordability, it is imperative to expand rental housing beyond industrial workers. We recommend deleting notional income from house property held as stock-in-trade to facilitate the creation of a sufficient rental housing stock, in alignment with the 'Housing for All' objective.

Incentivize Investment in Rental Housing:

Current provisions that set off losses from income from house property disincentivize rental housing investment. Given the potential for real estate investment to provide a source of income during retirement years, we propose the deletion of this section.

Adjust Safe Harbour for Ready Reckoner Rates:

The current deemed tax on the difference between the Ready Reckoner/Circle rate and the market value of flats should have an increased safe harbour from 10% to 25% to reflect more realistic market conditions.

Rationalize Individual Tax Rates:

A rationalization of individual tax rate slabs from the current 37% to 25% is strongly recommended to benefit taxpayers, enhance disposable income, and incentivize market participation.

Equitable Dividend Taxation:

The rate of dividend taxation for resident investors should be maintained at 10% to ensure competitiveness and parity with NRI investors, promoting fair investment opportunities.

Reform Capital Gains Tax for Housing Purchases:

Reforms to the capital gains tax rules pertaining to the purchase of multiple houses should be implemented. This will encourage homeownership, leading to increased housing demand and greater economic stability.

We also put forward a recommendation to incentivize slum redevelopment in cities like Mumbai, which can be eliminated in the next 5 years. Promoting these initiatives will drive more individuals to buy homes, thereby boosting housing demand, providing substantial support to homebuyers, and improving the affordability index. We earnestly encourage the government to consider our recommendations for the forthcoming budget to ensure a robust and thriving real estate sector, ultimately contributing to the nation's economic progress and prosperity."

Budget 2025 expectations LIVE: Balasubramanian A, Senior VP and Business Head at TeamLease said, "The year 2024 was marked by resilience and adaptability for India’s FMCG sector. While the sector grew by around 7%, demand remained muted in urban areas owing to inflationary pressures, while rural expansion outpaced that of urban areas by nearly 20%, especially in the food and beverages segment. The sector is projected to expand by 9.5% in 2025. driven by continued rural expansion and demand for premium and sustainable products in urban areas. While some green shoots are already visible, the second half of 2025 is expected to drive more growth than the first half.

To sustain growth momentum in such a challenging environment, targeted interventions to boost workforce productivity will be essential - initiatives like digital upskilling programs, the development of robust and adaptive distribution networks, and improving rural market penetration through a multi purpose workforce. Additionally, fostering collaborations between industry players and government agencies will be crucial to address skill gaps and ensure the workforce is equipped to navigate the evolving demands of the sector.

The FMCG sector expects Budget 2025 to address inflation, boost rural consumption, simplify GST, and support R&D, e-commerce, and sustainability initiatives, alongside lower taxes on essentials and health-focused products to drive growth."

Budget 2025 expectations LIVE: Amit Sharma, MD & CEO of Tata Consulting Engineers said, "The FY 2026 Budget is a key opportunity to advance India's infrastructure, energy transition, and technological innovation. We expect continued capital investment in water supply, metro systems, and climate-resilient infrastructure, along with support for Smart Cities, Transit-Oriented Development, and affordable housing.

A stronger push for renewable energy, including offshore wind, green hydrogen, and small modular reactors (SMRs), coupled with grid expansion, viability gap funding, and single-window approvals, will accelerate the energy transition. Strengthening nuclear energy through Bharat Small Reactors (BSR) and a contingency reserve for disaster management will bolster long-term energy security.

Modernising ports, promoting shipbuilding, and developing industrial clusters for semiconductors, EV batteries, and clean technologies will boost self-reliance and export competitiveness. Coastal industrialisation and inland logistics hubs will further drive efficiency and reduce costs. Smart infrastructure, digital twins, AI-driven mining, and integrated water management will be crucial for sustainability.

Skill development, gender diversity in engineering, and incentives for public-private partnerships will help bridge workforce gaps. Enhanced climate finance, including green bonds, R&D funding for energy storage, and low-interest loans for critical projects, will support India's journey towards decarbonisation, innovation, and global leadership in engineering and consultancy"

Budget 2025 expectations LIVE: Rishabh Jain, Chief Financial Officer, Bikaji Foods International Ltd said, “I am anticipating the Union Budget 2025 to bring much-needed relief in the form of reduced taxes on oil, which have seen a substantial hike this financial year. This increase has significantly impacted both consumer spending and industrial operations. A rationalization of these taxes would not only ease the financial burden on households but also provide a critical boost to industries like ours, where oil is a key input.”

Budget 2025 expectations LIVE: Mahesh Iyer – Managing Director and Chief Executive Officer, Thomas Cook (India) Ltd said, "The Travel & Tourism sector continues to be a vital contributor to India’s economy, with a 9.1% contribution to GDP (2024) and its significant role in employment generation and foreign exchange receipts. As we look ahead to the Union Budget 2025, we expect key measures that will support sustainable growth and infrastructure development, which are crucial to India’s ambition of becoming a $1 trillion tourism economy by 2047:

1. Infrastructure Development:

- Investment in transport infrastructure must remain a priority, particularly in underdeveloped regions and unexplored destinations. Strengthening air, rail and road connectivity, as well as expanding cruise and river tourism, is essential to unlock India’s full potential as a travel destination. Focused development on religious circuits and underleveraged destinations like the Northeast and Lakshadweep will also drive increased tourism

- Incentives for eco-friendly tourism practices are crucial to align India’s tourism sector with global sustainability standards. Tax rebates for green initiatives and eco-conscious projects will ensure the industry is well-positioned for sustainable growth.

2. Tax Reforms:

- Rationalize GST rates for hospitality services, particularly merging the 18% GST for hotels with room rates above ₹7,500 into a lower category

- Bring all cross-border individual credit card spends under the ambit of TCS"

Budget 2025 expectations LIVE: Nalin Negi, CEO, BharatPe said, "As we gear up for the Union Budget, we are optimistic about the government’s continued focus on promoting digital payments and strengthening financial inclusion. We hope this Budget will aim to address key areas such as easing regulatory frameworks, incentivizing digital adoption, and boosting credit access for MSMEs. Such steps will ensure that fintech remains a catalyst for India’s growth story and pave the way for a truly inclusive economy."

Budget 2025 expectations LIVE: Dr. Suneeta Reddy, Managing Director, Apollo Hospitals said, "The Union Budget 2025 must build on last year’s momentum to address the growing incidence of NCDs. Budget 2024 emphasized on cancer treatment with reduced customs duties on essential medicines. This initiative should be extended to include targeted therapy drugs as well as advanced cancer treatment equipment like Radiotherapy machines and Robotics most of which have ~37% in customs duties and are primarily technologies offered by Global medtech companies. Rationalizing the duty structure on these will help lower cancer treatment costs in the country.

While input costs to hospitals suffer full GST, healthcare services delivered by hospitals are covered in the GST negative list, resulting in input cost escalation to the extent of almost 8-10%. The Government should consider lowering the input GST applicable for hospitals to 5% for some of the key input services like lease rentals and allied charges, housekeeping, security and maintenance, transportation and manpower services, similar to the prevailing benefits in the education sector.

Further given the huge supply constraints on the number of beds that India needs in order to supports its population needs, an Infrastructure Linked Incentive similar to PLI should be considered, wherein the government can consider an Incentive of 50% on the cost of Capex incurred for infrastructure creation of any new hospital over 100 beds as an additional Investment allowance to be set off against the company’s tax payable. This can significantly facilitate faster capacity creation in the industry which will bode well for the patients and the population at large.

GST on health insurance premiums needs to be again lowered across the board to 5% to foster greater insurance penetration. Mandatory health insurance coverage could be implemented for companies that employ over 20 employees .

The Budget must also prioritize initiatives to boost telehealth and digital medicine to expand healthcare access and dedicate resources to preventive care, which would reduce the strain on hospitals. These measures will help pave the way for a robust and equitable healthcare system, ensuring better health for all."

Budget 2025 expectations LIVE: Rajeev Kapur, MD, Steelbird Helmets said, "According to industry estimates, the Indian helmet market is poised to grow significantly, driven by increasing awareness of road safety and stringent government regulations. By 2030, the market is expected to exceed ₹10,000 crore, with the potential to create over 50 lakh jobs across manufacturing, retail, and allied sectors. While the industry has made remarkable strides, challenges such as affordability, lack of awareness in rural areas, and counterfeit products remain critical hurdles to achieving widespread adoption.

To enhance road safety and boost the adoption of helmets, the government should consider the following recommendations:

1. Compulsory Helmet Mandate for Pillion Riders Calls for the enforcement of a compulsory helmet mandate across all states of India, requiring both riders and pillion passengers to wear helmets.

2. Reduction in GST on Helmets Recommends reducing GST on helmets from 18% to at least 12% to make high-quality safety gear more affordable and accessible.

3. Mandatory Two Helmets with Two-Wheelers Suggest making it mandatory for two-wheeler purchases to include two helmets, ensuring rider and pillion safety.

4. Incentivizing Safety Measures Advocates for Budget 2025 to promote road safety by incentivizing compliance measures for two-wheeler riders.

5. Focus on Infrastructure and Regulations Urges prioritization of infrastructure development and stricter enforcement of safety regulations to foster a safer commuting culture in India."

Budget 2025 expectations LIVE: H S Bhatia, Managing Director, Daewoo India said, "in the consumer durable sector we have high hopes from Budget 2025, with expectations focused on boosting growth, increasing demand, and promoting sustainability. We urge the government to focus on below pointers to make the balance budget-

1. Tax Relief: Reduce the tax burden on salaried and middle-class taxpayers, this will boost consumption and household savings.

2*. Reduce Corporate Tax: The sector is hoping for reduced corporate tax rates and phased-out tax exemptions to boost economic growth.

3. Support for Make-in-India Initiative: We are hoping government to include policies and incentives to promote the Make-in-India initiative, encourage domestic manufacturing and reduce dependence on imports.

4. Clarification on GST Rates: The sector is seeking clarification on GST rates for consumer durables, hoping for a uniform rate to simplify taxation and reduce compliance costs."

Budget 2025 expectations LIVE: Yuvraj Shidhaye, Founder and Director of TreadBinary said, “The Union Budget 2025 presents a remarkable opportunity to accelerate startup growth and foster innovation across India. To achieve this, the government could focus on strengthening the ecosystem by expanding subsidies to include Tier 2 and Tier 3 towns, promoting balanced development across regions. Simplifying filing and auditing processes for startups could also be a valuable step, making compliance more accessible and practical for businesses. Enhancing user-friendliness in processes such as generating e-invoices and integrating systems with government portals could significantly improve ease of doing business. Additionally, addressing the pay gap between sectors like manufacturing and IT through targeted incentives could encourage a more equitable distribution of talent and opportunities across industries. These measures could pave the way for a more inclusive and sustainable growth trajectory for the startup ecosystem in India.”

Budget 2025 expectations LIVE: G Hari Babu, National President, NAREDCO said, "The Union Budget 2025 presents a critical opportunity to address key challenges and propel the real estate sector towards sustainable growth. Revising the affordable housing price cap from ₹45 lakhs to ₹60 lakhs, which has remained unchanged for a decade, is imperative to account for rising input costs and inflation. Similarly, increasing the income tax deduction limit on interest payments under Section 80C from ₹2 lakhs to ₹5 lakhs and reducing home loan interest rates will make homeownership more accessible.

Policy reforms such as reintroducing Section 80IBA incentives and removing MAT provisions are essential to reviving affordable housing development. Buyers will benefit from measures like restoring the interest subvention under PMAY for loans up to ₹6 lakhs and offering fixed interest rates of 5% for loans up to ₹25 lakhs.

To further encourage investment, the ₹10 crore cap on capital gains tax exemption should be lifted, and a uniform long-term capital gains tax across asset classes should be introduced. Additionally, discontinuing the deemed rental income tax on unsold inventory under Section 23(5) and increasing the safe harbor limit from 10% to 25% will align stamp duty rates with market realities, fostering higher transaction volumes.

Streamlining approval processes and adopting color-coded zoning for height and environmental clearances can significantly reduce project delays. These measures will not only stimulate housing demand, particularly in Tier 2 and 3 cities, but also strengthen the real estate sector's contribution to GDP growth."

Budget 2025 expectations LIVE: Ayush Lohia, CEO, Lohia Auto said, "According to Union Minister Nitin Gadkari, the Indian electric vehicle market is likely to be worth ₹20 lakh crore and has the potential to create around five crore jobs across the entire EV ecosystem by 2030. While the industry has made significant progress, it still faces critical challenges, particularly in battery manufacturing and charging infrastructure.

To boost the adoption of EVs, the government should consider the following recommendations:

1. First, India lags behind global leaders like China in battery production. The 2025 budget could incentivize local manufacturing through: favourable policies to attract investments in battery production facilities and provide tax incentives and subsidies to reduce dependency on imports.

2. Secondly, to reduce setup costs the government should classify charging stations as part of the “infrastructure industry”. Also, cheaper financing options should be available for the developers.

3. Third, additional tax credits for consumers and businesses would further incentivize EV adoption. While the lower 5% GST on EVs encourages adoption, the 18-28% GST on raw materials creates high working capital demands, increasing the costs unnecessarily. Addressing this taxation disparity and refining policies will create a stronger foundation for the sector's efficiency and competitiveness, providing a much-needed boost for sustainable growth."

Budget 2025 expectations LIVE: Madan Mohan, President, The International Federation of Indigenous Zebu Cattle Of India (IFIZCI) said, "As the Government prepares to present the upcoming budget, we at the International Federation of Indigenous Zebu Cattle (IFIZC) emphasize the need for a holistic approach to agricultural development. The agriculture sector, which employs nearly 50% of India's workforce, requires significant investment to enhance productivity, efficiency, and sustainability.

We expect the budget to allocate substantial funds for:

- Improving irrigation infrastructure to reduce dependence on monsoon rains

- Promoting organic and natural farming practices to enhance soil health and reduce chemical usage

- Supporting livestock development, particularly indigenous breeds, to augment rural incomes

- Enhancing farmers' access to markets, credit, and technology

- We wanted to bring to your attention the critical issue regarding the improvement of Indian cow breeds. One of the major hurdles we face is the lack of a DNA data bank. Establishing DNA testing labs that are accessible and affordable for our farmers is essential. This would not only strengthen the DNA data bank but also facilitate scientific advancements in cow breeding.

- We believe that Indian breeders have the potential to achieve significant financial success similar to that of Brazilian farmers. There is a growing demand for the semen and embryos of Indian cows and bulls across Latin America, and if the government resumes exports, our farmers could tap into the international market. This opportunity could enable them to command better prices for their products.

- We pleased to share that the The International Federation of Indigenous Zebu Cattle Of India (IFIZCI) has recently signed a Memorandum of Understanding (MoU) with Brazil's largest institution ABCZ, which has been dedicated to scientifically improving Zebu cattle for the past 90 years. This collaboration aims to significantly enhance the quality of Zebu breeds such as Gir, Kankrej, Red Sindhi, and Ongole across Brazil. We are excited about partnering with this esteemed organization to maintain a Zebu herdbook in India, which we believe is crucial for both small and large farmers. By tracking and improving the quality of indigenous cattle, this initiative can bring monumental changes to the farming community.

We encourage the Government of India to take necessary steps to support indigenous herdbook initiative, as it has the potential to revolutionize the cattle farming sector nationally.

By prioritizing these areas, the Government can help Indian agriculture become more resilient, productive, and profitable. We look forward to a budget that addresses the pressing needs of India's farmers and rural communities."

Budget 2025 expectations LIVE: Bharat Dhawan, Managing Partner, Forvis Mazars in India said, “India’s strength lies in its people and the country has opportunities for the youth. We expect that the government will continue to prioritize skill development and job creation to tap into India's demographic advantage, which will drive economic growth and increase consumption through higher incomes. While the challenge of inflation, particularly food inflation continues to remain a concern, there is a need to implement robust supply-side measures to reduce the pain. We expect to see a focus on long-term solutions to strengthen the agricultural value chain and incentivize production. In the short term, direct benefit transfers (DBTs) may help support rural consumption. Infrastructure development will also remain a key priority, with continued investment in roads, multi-modal logistics parks, and overall logistics. Additionally, the government will emphasize healthcare, education, and skills development, while also promoting innovative technologies for inclusivity, formalization, and transparent governance. As India aims to become a Viksit Bharat by 2047, sustained investment in social, physical, and digital infrastructure will be crucial for future growth.”

Budget 2025 expectations LIVE: Dr. R.G Agarwal, Chairman Emeritus, Dhanuka Agritech Limited said, "To empower Indian farmers and accelerate agricultural growth, we anticipate exempting essential agricultural inputs such as agrochemicals, drones, and modern implements from GST or reducing the rate to a maximum of 5%. The current 18% GST on these items discourages farmers from adopting advanced technologies vital for bridging the yield gap with developed nations. This high tax burden often forces farmers to rely on low-quality alternatives, leading to reduced productivity, lower incomes, and significant losses for the nation in terms of GDP and food security.

Additionally, lowering the import duty on pesticide technicals and formulations continues to 10% making advanced innovative crop solutions more affordable and accessible. Encouraging domestic R&D through reinstating a 200% tax deduction on research expenses and allocating a dedicated budget for agrochemical innovation will foster self-reliance and reduce dependency on imports. We appreciate the various initiatives by the Hon’ble Agriculture Minister, Shri Shivraj Singh Chouhan, giving focus to the agriculture sector under the dynamic leadership of Hon’ble Prime Minister, Shri Narendra Modi.

India’s agricultural research needs urgent attention. Only 0.06% of GDP is allocated to R&D, compared to 4.5-5% in developed nations, limiting our capacity to innovate. Reinstating the 200% tax incentive for R&D would encourage domestic innovation, reduce dependence on foreign technology, and ensure farmers benefit from cutting-edge solutions.

The agrochemical industry, contributing USD 5.5 billion annually to India’s agricultural exports, is pivotal to strengthening agriculture. Strategic measures like tax incentives, a Production Linked Incentive (PLI) scheme and a review of the Insecticides Act to streamline faster new product approvals will empower farmers, enhance productivity, and position India as a global leader in agriculture."

Budget 2025 expectations LIVE: Anand Dubey, CEO, Indkal Technologies said, "We're optimistic and excited about the potential boost Union Budget 2025 will bring to the electronics sector. Prime Minister's vision of making this a 500 billion USD sector by 2030 from the current 150 billion USD will require bigger initiatives, and this budget is expected to make a move in that direction. Also, advocating on the immediate needs of the consumer electronics ecosystem in the form of simpler tariff regimes, PLI schemes on new product categories, better implementation of One Window Clearance and affordable lending from banks, must be looked into. With the Make in India initiative gaining momentum, further fiscal incentives and tax reliefs for domestic manufacturers can help reduce the cost burden and encourage investments in technology upgrades and research & development.

This budget could become a catalyst for explosive growth of the industry for the next 5 years, similar to the boom in IT sector in early 2000's. The government's budget proposal must consider these aspects, driving growth in the consumer durables sector and ensure sustainable growth in the industry".

Budget 2025 expectations LIVE: Vinesh Gupta, General Manager of Den Hotel said, "As we approach the 2025 Union Budget, the hospitality industry remains optimistic about reforms that can drive sustainable growth. Rationalizing GST slabs, particularly to further streamline the sector, would not only enhance competitiveness but also encourage greater domestic and international tourism. Additionally, reducing the complexity of the taxation structure can ease operational challenges and improve affordability, making India an even more attractive destination for travelers. Furthermore, initiatives like investing in infrastructure are vital to unlocking the potential of offbeat and emerging destinations.

We believe that the government will continue prioritizing skill development initiatives aimed at empowering local communities. A well-trained workforce is crucial for delivering world-class hospitality experiences, and such initiatives can create meaningful employment opportunities while fostering inclusive growth. With the hospitality industry projected to grow significantly in the coming years, these measures can position India as a global leader in tourism, ensuring long-term benefits for businesses, travelers, and communities alike."

Budget 2025 expectations LIVE: Abhishek Sinha - Founder, GoodDot said, "As someone deeply connected to the food processing and plant-based protein sectors, I believe the recent wildfires in LA and other extreme climate events are stark reminders of the urgent need to prioritize sustainability in every industry. The Union Budget presents a vital opportunity to promote environmentally sustainable sectors like plant-based foods, which significantly reduce the environmental footprint compared to traditional animal agriculture.

One crucial step would be to rationalize GST on plant-based foods, aligning it with the lower rates on traditional meat products. This would make sustainable, health-conscious options more accessible and encourage consumer adoption. Promoting exports of plant-based products by incentivizing value-added processing of agricultural produce is another important move. This could position India as a global leader in sustainable food exports while boosting rural livelihoods.

A dedicated Production-Linked Incentive (PLI) scheme for plant-based proteins would be a transformative policy, attracting investments, fostering R&D, and creating jobs in this fast-growing sector. Additionally, the food processing industry requires enhanced infrastructure, especially in rural areas, to reduce food wastage and add value to our vast agricultural output.

Startups and MSMEs in these sectors also need simplified compliance processes and better access to affordable credit to thrive and innovate. With bold measures, this Budget can pave the way for a more sustainable, resilient future, addressing urgent climate challenges while positioning India as a leader in plant-based innovation and food tech."

Budget 2025 expectations LIVE: Tushar Parihar - Founder, Kaner Bagh said, "The Union Budget 2025 offers an opportunity to strengthen the hospitality sector and support sustainable tourism. We request the government to prioritize tax incentives for heritage property restoration, enabling us to preserve cultural treasures. Improved infrastructure and last-mile connectivity to tier-2 cities like Udaipur would boost tourist arrivals. Additionally, a reduction in GST for boutique hotels would make India a competitive global destination.

Sustainability initiatives deserve attention, with grants for eco-friendly practices like solar power and water conservation. Lastly, investments in skilling programs for hospitality professionals will enhance service standards and create local employment."

Budget 2025 expectations LIVE: Suraj Singh Jhala - Founder, Karma PR and Content said, "As we approach the Union Budget, all eyes are on how the government plans to strike a balance between fostering economic growth and ensuring fiscal prudence. There is an urgent need for continued focus on simplifying the tax structure, particularly by reducing compliance burdens on businesses and individuals. A potential revision in the GST framework could help in improving ease of doing business, especially for small and medium enterprises that continue to navigate the complexities of the current system. Furthermore, we hope for strategic incentives that stimulate innovation, entrepreneurship, and job creation, all while making sure that the common taxpayer benefits from a more transparent, streamlined tax environment. The forthcoming Budget must remain a catalyst for economic recovery, boosting both domestic consumption and investor confidence."

Budget 2025 expectations LIVE: Anil Pillai, Director of Terragni Consulting said the following:

"1. Digital Infrastructure

Prioritize funding for 5G rollouts in rural areas to enable high-speed connectivity for underserved regions.

Launch subsidies or incentives for businesses to develop low-cost digital devices for rural adoption.

Introduce a "Digital Bharat Mission" to integrate e-services like telemedicine, e-education, and digital payments into the rural economy.

2. Incentives for Green Energy

Extend tax benefits under Section 80-IA to green energy startups and renewable energy projects.

Introduce urban-focused green credits for commercial buildings implementing energy-efficient practices.

Set up a "Green Cities Fund" for smart grids, solar rooftops, and EV charging networks in metropolitan areas.

3. Urban Governance and Decay

Launch a "Smart Urban Transformation Program" to incentivize local bodies to adopt technology for governance, such as AI for traffic management and IoT for waste disposal.

Allocate funds to revamp urban housing policies with a focus on affordable housing and slum redevelopment.

Provide grants to cities for implementing efficient public transport systems like metro expansions, BRT (Bus Rapid Transit), and last-mile connectivity solutions.

4. MSME Growth

Increase the collateral-free loan limit under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

Introduce sector-specific production-linked incentives (PLIs) for MSMEs in manufacturing and technology.

Launch a "Digital MSME Toolkit" with subsidized ERP, CRM, and digital marketing solutions to help small businesses scale.

5. Personal Taxes

Introduce higher deductions for health insurance premiums, especially for senior citizens, under Section 80D.

Increase the housing loan interest deduction cap from ₹2 lakh to ₹3 lakh under Section 24(b).

Offer tax benefits for individuals installing rooftop solar systems or adopting electric vehicles.

6. Skilling and Education

Introduce an "India Skilling Fund" to train workers in cutting-edge technologies like AI, blockchain, and green energy solutions.

Set up incubation centres at universities, integrating them with industries for research, training, and innovation.

Allocate resources for teacher training programs to enhance the quality of STEM education at the school level.

7. Healthcare

Expand Ayushman Bharat to cover outpatient services, medicines, and diagnostics, especially in rural areas.

Launch a "Digital Health Hub" program to bring AI-based diagnostics and teleconsultations to underserved regions.

Provide incentives for setting up healthcare infrastructure in Tier 2 and Tier 3 cities to reduce urban healthcare load.

8. Ease of Doing Business

Create a "One-Stop Compliance Platform" to consolidate filings for GST, labour laws, and other statutory requirements.

Fast-track clearances for new business setups in manufacturing and green energy sectors through single-window systems.

Offer rebates or incentives to businesses adopting ESG (Environmental, Social, and Governance) practices.

9. Adding Precision to Urban Governance

Establish "City Scorecards" for tracking urban performance on waste management, water supply, and traffic congestion.

Encourage public-private partnerships for retrofitting ageing urban infrastructure, including roads, bridges, and drainage systems.

Implement a "Liveable Cities Framework" with clear benchmarks for air quality, noise levels, and green cover."

Budget 2025 expectations LIVE: Ashish Suman, Partner, JSA Advocates & Solicitors said, “PPP investments in urban infrastructure peaked at INR 8,353 crore in 2012 but plummeted to just INR 467 crore by 2018. It is expected that the government announces more innovative PPP models for boosting private sector participation in this sector. This budget may consider better utilisation of the Urban Infrastructure Development Fund (UDIF) which was established for Priority Sector Lending to Public Agencies to create urban infrastructure in Tier 2 and Tier 3 cities. Urban infrastructure projects by ULBs in India often face funding challenges, impacting the financial viability. The upcoming budget may consider strengthening the municipal bonds market or empowering SEBI to incentivize pension and insurance funds and considering higher interest rates to attract retail investors. It is expected that the Budget may also provide for dedicated financial outlay for projects specifically for tier 2 cities with focus on urban housing, water and sanitation. To align with India’s sustainable development goals, it is expected that the Budget will provide tax incentives for developers adopting green building technologies as well as providing skilling incentives for workers employed in green building construction.”