Union Budget 2025 Expectations Highlights: Anticipation high for FM Nirmala Sitharaman’s speech

Anticipation is running high among industry stakeholders and citizens as we get nearer to Finance Minister Nirmala Sitharaman’s Budget announcement. From ordinary taxpayers, to tech, healthcare, insurance, and finance sectors, hopes are high for income tax cuts, GST sops and other initiatives.

The finance minister completed her Pre-Budget Consultation with stakeholders, unions and other representatives on January 6, ahead of beginning work on Budget 2025-26. Meanwhile, the first part of the Parliament’s Budget session is confirmed to begin from January 31 till February 13, 2025. And the second part of the session will commence on March 10 and conclude on April 4, 2025.

Nirmala Sitharaman’s 8th Budget Speech

In Sitharaman’s eighth Budget speech, the industry is expecting significant announcements ranging from income tax breaks, GST rationalisation, industry-specific policies and more, aimed at reviving the economy, the job market, and boosting consumer sentiments.

This will be Sitharaman’s second full-fledged Budget in Modi 3.0, and her eighth budget presentation overall in Parliament. She has presented six annual and two interim budgets under the NDA government’s consecutive terms in power.

As per convention over the past years, the finance minister is expected to give her Budget speech in Parliament at 11 am on February 1, 2025. However, there has been no official statement or confirmation of the date from the Finance Ministry as yet.

Further, as per official circulars, the BSE and NSE will remain open on February 1, 2025, despite it being a Saturday due to the Union Budget 2025-26.

Source: Livemint