- Tax reforms, lower GST rates, and capex allocation are top priorities for corporate India.
- Hospitality sector seeks infrastructure status, tax rate rationalization, and easier visa processes.
- Taxpayers, especially the middle class, hope for relief amidst economic challenges.
The Union Budget 2025, scheduled for February 1, holds high expectations across various sectors in India. Corporate India is particularly focused on tax reforms, reductions in GST rates, and regulatory updates to fuel economic growth.
In addition to corporate concerns, the hospitality sector is pushing for significant policy changes, including the grant of infrastructure status and the rationalization of tax rates.
Union Budget 2025: What to Expect from Finance Minister Sitharaman’s Eighth Speech
Finance Minister Nirmala Sitharaman’s upcoming Union Budget 2025, to be presented on February 1, is highly anticipated, especially as it will be her second full budget under the Modi 3.0 government. Corporate India is hopeful that this budget will address key issues like tax reform, reduced GST rates, and capex to bolster economic growth and improve the job market.
The middle class, amid current economic challenges, is particularly attentive to potential tax relief announcements. Sectors like tech, healthcare, insurance, and finance are expecting regulatory updates that could boost their respective industries and increase consumer sentiment.
The hospitality sector is also lobbying for infrastructure status, which could unlock tax incentives and promote further growth. Additionally, a rationalization of tax rates and better promotion of India as a tourism destination are viewed as essential to attracting investments in this sector.
Amid all these sectoral demands, there is a widespread hope that the budget will strike a balance between providing necessary fiscal relief to taxpayers while continuing to allocate funds to key areas such as infrastructure and technology. The Union Budget will be a crucial moment for the economy’s trajectory in 2025.
As Finance Minister Sitharaman prepares to deliver the Union Budget 2025, sectors ranging from corporate India to hospitality are watching closely for announcements that could reshape India’s economic landscape.
“The hospitality sector seeks infrastructure status and rationalization of tax rates to unlock its full potential.”
