Now Loading

Union Budget 2025 LIVE Updates: FM Nirmala Sitharaman set to present her 8th consecutive Budget

With urban consumption demand weakening, many experts anticipate that FM Nirmala Sitharaman will announce several income tax relief measures to boost overall spending. The Union Budget is set to be presented on Saturday, February 1, 2025, while the Economic Survey will be tabled in Parliament today, January 31, 2025. Taxpayers are eagerly awaiting potential reliefs in the upcoming budget.

01-Feb-2025 12:25PM IST

Union Budget 2025: Simplified Income Tax Bill Aims to Remove Ambiguity

The new income tax bill is designed with clarity in mind, using straightforward and concise language to make it easily understandable for both taxpayers and tax officials. This approach seeks to eliminate any ambiguity, enhancing the document’s accessibility and user-friendliness.

“My tax proposals are driven by the goal of enhancing ease of doing business, encouraging voluntary compliance, and reducing the compliance burden. These proposals focus on personal income tax reforms, particularly benefiting the middle class, streamlining TDS and TCS processes to minimize challenges, and promoting job creation and investment,” stated the Finance Minister.

Post Budget Quote by Sudhir Kunder, Chief  Business Officer, DE-CIX India:

“The Union Budget 2025 showcases a visionary approach to technological advancement, propelling India’s digital and sustainable growth trajectory forward. I’m particularly enthusiastic about the emphasis on AI initiatives, which will cultivate a future-ready workforce, ensure employment stability, and drive innovation across sectors. The integration of AI-driven learning tools and industry-academia collaboration will empower students with cutting-edge skills, while the proposed AGR relief for telecom companies will fortify the backbone of India’s digital infrastructure. These strategic initiatives will collectively pave the way for a more connected, resilient, and innovation-driven India, poised for long-term success.”

01-Feb-2025 12:12PM IST

No income tax will be levied on earnings up to ₹12 lakh.


01-Feb-2025 11:50AM IST

FM Nirmala Sitharaman announced the creation of a Deep Tech fund, which will support startups from both technical and non-technical backgrounds in turning their ideas into reality.

01-Feb-2025 11:45AM IST

Finance Minister Nirmala Sitharaman announced that 36 lifesaving drugs and medicines will be fully exempt from basic customs duty.


01-Feb-2025 11:40AM IST

FM Nirmala Sitharaman revealed an additional contribution of ₹10,000 crore for startups, bringing the total government contribution to ₹20,000 crore.

01-Feb-2025 11:38AM IST

“‘Heal in India’ and medical tourism will be promoted in collaboration with the private sector.”

01-Feb-2025 11:25AM IST

Finance Minister Nirmala Sitharaman announced key initiatives in the education sector:

  • Five national skill centers will be established with international expertise.
  • IITs will expand their capacity to enroll more students.
  • A Centre of Excellence in AI for education will be set up with an allocation of ₹500 crore.
  • An additional 10,000 seats will be added in medical colleges and hospitals.

01-Feb-2025 11:13 AM IST

  • A National Mission focused on high-yielding seeds will be introduced.
  • A dedicated mission to boost cotton productivity will be launched, offering farmers advanced scientific and technological support.
  • The credit limit for the Kisan Credit Card will be raised from ₹3 lakh to ₹5 lakh, benefiting 7.7 crore farmers.

01-Feb-2025 11: 10AM IST

Finance Minister Nirmala Sitharaman outlines 10 key focus areas:

  • Boosting Agricultural Growth and Productivity
  • Fostering Rural Prosperity and Resilience
  • Advancing Inclusive Growth for All
  • Empowering MSMEs
  • Driving Employment-centric Development
  • Investing in Human Capital, the Economy, and Innovation
  • Ensuring Energy Security
  • Enhancing Export Competitiveness
  • Cultivating a Culture of Innovation

01-Feb-2025 11:05AM IST

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025, stated, “Our structural reforms have captured global attention.”

01-Feb-2025 11:00AM IST

Finance Minister Nirmala Sitharaman began presenting the first full budget of the Modi 3.0 government, following the interim budget delivered in July last year.

01-Feb-2025 10:45 AM IST

Clad in a white saree, Finance Minister Nirmala Sitharaman was seen outside the ministry this morning holding a tablet encased in a ‘bahi khata’ sleeve, ahead of delivering her eighth consecutive Budget speech. She later met with President Droupadi Murmu at Rashtrapati Bhavan, where the Budget presentation received formal approval.
In 2019, Ms. Sitharaman broke away from the long-standing tradition of Finance Ministers carrying briefcases on Budget day by introducing the ‘bahi khata,’ symbolizing a shift from colonial practices to an Indian ethos. By 2021, she embraced a paperless approach, presenting the Budget with a tablet wrapped in the traditional cover.

Source: PTI

01-Feb-2025 9:30AM IST

Finance Minister Nirmala Sitharaman is set to present her record 8th consecutive Union Budget on Saturday, February 1, 2025, at 11 a.m. The budget is anticipated to include measures aimed at boosting sluggish economic growth, providing relief to the middle class grappling with high prices and stagnant wages, all while maintaining fiscal discipline.

With this budget, Ms. Sitharaman moves closer to the record held by former Prime Minister Morarji Desai, who presented 10 budgets during his tenure.

31-Jan-2025 12:45PM IST

PM Modi Begins 2025 Budget Session with Vision for a Developed India by 2047

Prime Minister Shri Narendra Modi addressed the media before the start of the 2025 Budget Session, paying homage to Goddess Lakshmi and seeking blessings for the country’s prosperity. He celebrated India’s 75 years as a Republic and emphasized the goal of transforming India into a developed nation by 2047. The Prime Minister outlined priorities of innovation, inclusion, and investment, discussed historic bills, and stressed the importance of empowering women and engaging the youth in India’s development. He also noted the absence of foreign disturbances, marking a peaceful start to the session.

31-Jan-2025 12:30PM IST

Budget Session Begins: President Murmu Highlights ‘Lakhpati Didi’ and India’s Growth

The Budget Session of Parliament kicked off today with President Droupadi Murmu addressing a joint sitting of both Houses. In her speech, she emphasized the government’s commitment to empowering women through the ‘Lakhpati Didi’ initiative, aiming to create three crore financially independent women.

She also highlighted significant infrastructure developments, including the completion of the Udhampur-Srinagar-Baramulla rail link and India’s growing aviation sector. The President praised women’s increasing roles in aviation, law enforcement, and corporate leadership.

Further, she discussed India’s advancements in AI with the launch of the ‘India AI Mission’ and expressed confidence in the upcoming Gaganyaan human spaceflight.

Union Finance Minister Nirmala Sitharaman tabled the Economic Survey, providing insights into the current economic performance. The government has also listed 16 Bills, including the Waqf (Amendment) Bill, for the session.

The first phase of the Budget Session will conclude on February 13 and reconvene on March 10, running until April 4.

Dr. Devesh Kumar Singh, Chairman of Noida International University

As the union budget 2025 approaches, the government should allocate a significant budget for improving infrastructure and learning practices to close the current gaps in the educational sector. The government’s measures need to encourage students to enroll in higher education by lowering loan interest rates and allowing them longer due dates to relieve financial stress from students and families.

Also, there is a need to add AI as a necessary learning model or subject in every college since industry has shifted dramatically in the last few years making AI a necessity in mostly all sectors. This will help India to become a global knowledge hub in a few years. 

At last, the budget allocation must be more aligned towards student loans and funding the fee for students for their skill development. The grants for National Education Policy (NEP) must focus on the implementation of multidisciplinary institutions with flexibility. Also, the government must allocate some more funds to research and development (R&D), encouraging partnerships between businesses and universities.

To provide creative solutions to the education sector, public-private partnerships (PPPs) ought to be promoted. Working together with commercial organizations can make it easier to share technology, resources, and knowledge, improving the nation's overall educational quality.

Appalla Saikiran, Founder & CEO, SCOPE:

“India’s startup ecosystem, the third largest globally, boasts over 90,000 startups and 100+ unicorns with a combined valuation exceeding $400 billion. In 2023 alone, this vibrant ecosystem attracted $24 billion in funding and generated more than 900,000 jobs, highlighting its critical role in driving economic growth and innovation. As we approach the Union Budget 2025-26, it is vital to introduce policies that address pressing challenges, such as access to funding and regulatory bottlenecks. Simplifying the angel tax provisions, offering incentives for domestic VC funds, and establishing a clear framework for foreign investments will boost investor confidence and fuel the growth of new-age companies. The budget should also prioritize emerging sectors like artificial intelligence, climate tech, and deep tech, which hold immense potential for innovation and long-term economic resilience. With the right policy interventions, India’s startup ecosystem can not only expand its global footprint but also create an additional 1.5 million jobs by 2030, cementing the nation’s position as a global innovation leader.”

Manish Aggarwal, Founder & CEO, FINQY

As we approach the Union Budget, three key areas in personal finance deserve attention: easing MSME compliance, enhancing financial intermediary education, and rationalizing the tax burden.

 MSMEs, the backbone of India’s economy, face overwhelming regulatory complexities. Simplifying compliance through streamlined tax structures and automated digital processes will empower these businesses to focus on growth and innovation, fostering economic resilience.

 India’s growing middle class increasingly relies on financial products, yet many lack the knowledge to make informed decisions. Financial intermediaries, such as DSAs, work to bridge this gap. The Budget should introduce training programs and growth incentives to improve the quality of financial advice, enhancing consumer trust and transparency.

 Finally, rationalizing the tax burden is critical for boosting household savings and investments. Raising income tax thresholds, increasing Section 80C deduction limits, and expanding incentives for financial instruments can provide much-needed relief. These measures will enhance disposable income, encourage long-term wealth creation, and stimulate consumption.

 At FINQY, we believe these reforms will foster financial inclusion, empower individuals, and promote economic stability. We look forward to a Budget that simplifies personal finance and prioritizes the financial well-being of all Indians.

Samyak Jain, Co-founder and CEO, Zeko AI

“With India becoming the digital-first economy and a powerhouse of technological advancements and adoption, the upcoming budget holds great importance for startups in the technology and AI sectors. As a tech startup, we hope to see investment initiatives that nourish innovation and give a boost to AI infrastructure, startups working towards developing new technologies, and research and development. Support in streamlining data compliance will empower software startups.  

AI adoption policies across sectors, along with investments in robust AI/data skills training, are vital for a globally competitive tech-driven workforce.  

Finally, easy access to private funding and reduced compliance burdens for startups will accelerate growth and global scaling. This budget must empower India’s tech future.”

Lalit Ahuja, CEO, ANSR

“As India strengthens its position as a global hub for Global Capability Centers (GCCs), targeted fiscal and policy measures could further accelerate the sector’s growth. Simplifying the company registration process specifically for GCCs would reduce setup timelines, enabling faster investments and operations. Extending tax incentives, such as a 15% concessional tax rate, would foster innovation and attract global organizations to establish and scale their operations in India. Additionally, raising the threshold for Safe Harbour Rules would level the playing field for mid-sized GCCs, which are critical to driving the next wave of growth.

A uniform, centralized GCC policy could further enhance India’s appeal by streamlining compliance and creating a predictable environment for investors. With over 1,700 GCCs already employing 1.9 million professionals and projected revenues exceeding $100 billion by 2030, these reforms could solidify GCCs as a cornerstone of India’s economic future and global leadership.”

Ricky Vasandani, Co-founder and CEO, Solitario

“As India increasingly embraces sustainable luxury, this year’s Union Budget presents a valuable opportunity to encourage eco-conscious consumption. By fostering an environment that supports sustainable businesses and innovation, particularly in sectors like lab-grown diamonds, we can create a thriving ecosystem for luxury brands. Simplified regulations and forward-thinking policies will enable brands to flourish in an evolving market, helping India strengthen its position as a leader in environmentally responsible luxury while promoting a new era of conscious consumerism.”

Mr. Ashwani Singh, Managing Director of 35 North Ventures (SEBI Accredited Firm)

Over the past decade, India’s startup ecosystem has evolved into a global powerhouse, driving innovation. As Union Budget 2025 approaches, stakeholders eagerly anticipate policies that will further amplify this momentum.

I see immense opportunity to address critical pain points such as access to funding, tax inefficiencies and compliance burdens which can be addressed through targeted policy interventions to build a robust startup ecosystem.

  1. Ease of Funding:

Propelling forward with programs like the Startup India Seed Fund Scheme (SISFS) and Fund of Funds for Startups (FFS) to address funding gaps, I believe that the introduction of co-investment models, offering private venture capitalists a prospect for alliance with government-backed initiatives, would unlock new funding sources and lessen the barriers to entry for startups in underserved regions.

Globally, similar approaches have demonstrated success such as the “Yozma” program, a government-backed initiative to encourage private investments in startups, which transformed Israel into a “Startup Nation.”

  1. Tax Inefficiencies:

The current taxation structure, taxing Employee Stock Option Plans (ESOPs) at time of vesting and the high tax burdens on capital gains for Angel Investors, hinder progress in the employee retention and funding landscape. In the upcoming budget, I anticipate tax reforms to tackle these hurdles – simplifying ESOP taxation, streamlining capital gains tax structure across asset classes or introducing tax exemptions for angel investors and aligning them with global standards to encourage greater inflows of private capital into the startup ecosystem.

  1. Infrastructure for Innovation:

To foster the economy of ideas, state-backed incubation hubs, innovation clusters, and advanced R&D labs are crucial. Providing affordable workspaces, access to advanced equipment, and mentorship programs can significantly accelerate startup growth. Initiatives like T-Hub in Telangana and Kerala Startup Mission (KSUM) serve as excellent examples that need to be scaled nationwide.

  1. Sectoral Incentives:

Sectors such as AgriTech, ClimateTech and DeepTech are set to drive India’s long-term economic and environmental goals in the coming decade. Requiring heavy investment in R&D, targeted grants, subsidies, and tax benefits could spur innovation in these areas.

  1. Streamlined Compliance and Regulatory Framework

Introduction of a unified clearance system and tackling redundancy in administrative filings to ease operational and bureaucratic burdens on startups will bolster growth of SMEs. Estonia’s e-Residency program which simplifies administrative processes for entrepreneurs, allowing them to establish and manage businesses entirely online, is a successful model which India could implement.

As I look ahead, I remain optimistic that Budget 2025 will not only address immediate challenges but also lay the foundation for a sustainable and thriving startup ecosystem that resonates with the aspirations of a new India.

Ms. Somdutta Singh, First-Generation Serial Entrepreneur, Founder & CEO Assiduus and Investor with Karma Holdings

The Indian startup ecosystem today stands at a pivotal juncture, marked by both remarkable achievements and significant expectations. With over 1.59 lakh recognized startups as of January 15, 2025, India has solidified its position as the third-largest startup ecosystem globally, driven by innovative ideas, government initiatives, and increasing tech penetration. This transformation is not merely quantitative; it has also fostered qualitative growth, with startups creating approximately 16.6 lakh direct jobs between 2016 and October 2024, underscoring their critical role in India’s economic landscape.

In recent years, startups have raised an impressive $150 billion since 2014, with a record $48 billion achieved during the peak funding year of 2021-22. Despite global economic challenges, the resilience of this ecosystem is evident as it secured $11.2 billion in funding in 2024, an increase from $9.4 billion in 2023. I am sure this growth trajectory will continue into 2025, with early indicators showing that startups have already raised $330 million by mid-January. The anticipation surrounding the first unicorn of the year reflects a booming optimism among investors and entrepreneurs alike.

Moreover, the Indian startup landscape is witnessing a significant shift towards intellectual property-driven and deep-tech innovations. This evolution marks a departure from the “me too” startups of the past decade towards original ideas that leverage advanced technologies such as AI and robotic process automation. This trend is further supported by key policy changes, including the abolition of the angel tax on startup investments in July 2024, which has created a more conducive environment for innovation and growth.

Looking ahead to 2025, I am definitely expecting a historic surge in IPOs, with at least 23 new-age tech startups poised to enter public markets – almost double the number from 2023 when 13 startups went public. This trend not only reflects investor confidence but also indicates a maturation within the ecosystem where early-stage companies are now transitioning into growth and pre-IPO phases.

The government’s ongoing support through initiatives managed by SIDBI has further bolstered this ecosystem. The Fund of Funds Scheme has disbursed over Rs 10,805 crore to alternate investment funds, which in turn invested Rs 18,000 crore into more than 1,030 startups. Such financial backing is crucial as it empowers startups to innovate and expand their operations beyond metropolitan areas into Tier II and III cities. The Indian startup sector’s journey thus far has been characterized by rapid growth and resilience amidst adversity. As we look forward to the  Budget, stakeholders are hopeful for measures that will simplify tax structures, enhance access to credit, and promote infrastructure development – all vital components for sustaining this momentum. I am confident, this collective aspirations of entrepreneurs and investors reflect a vision for not only immediate relief but also long-term sustainability that aligns with India’s economic goals of becoming a developed nation by 2047.

Girish Rowjee (Co-founder & CEO) & Sayeed Anjum (Co-founder & CTO), greytHR

As Union Budget 2025 approaches, we anticipate focused measures that address the critical needs of SMEs, employees, and the workforce at large.

Micro, Small, and Medium Enterprises (MSMEs), which contribute nearly 30% to India’s GDP, are the backbone of job creation and economic growth. Simplified compliance processes and easier access to financing are essential for their success. The eagerly awaited implementation of the Code on Wages could transform labor regulations by unifying and simplifying wage laws. This reform promises greater transparency, improved labor conditions, and fairer compensation, reducing burdens for both businesses and workers. Combined with rationalized taxation and incentives for workforce expansion, such measures can create a thriving, competitive ecosystem.

Easing financial pressures on employees is just as important. As the heart of India’s workforce, employees are seeking relief through income tax reforms. By enhancing disposable incomes, the government can provide much-needed financial respite, boost consumer confidence, and fuel domestic demand, driving broader economic progress.

Further, to sustain growth, investing in human capital is vital. Upskilling and reskilling initiatives can prepare the workforce for emerging technologies, ensuring India’s global competitiveness in a rapidly changing world. Supportive policies that encourage such investments will enhance productivity and innovation across industries.

At greytHR, we are committed to empowering businesses with innovative tools and technology to simplify compliance, enhance employee engagement, and build future-ready workforces. By addressing these shared aspirations, we can unlock India’s immense economic potential and create a brighter, more inclusive future for all.”

Mr. Shashank Noronha, Founder, TABBSZ

“As an entrepreneur committed to sustainability and innovation, I hope the upcoming budget  prioritizes policies that empower MSMEs and startups driving meaningful change. By introducing tax incentives for eco-friendly products, simplifying regulatory processes, and investing in waste management, skill development, and infrastructure, the government can create a strong foundation for sustainable businesses to grow and succeed. These measures will not only accelerate India’s transition to a greener economy but also generate green jobs and advance the ‘Make in India’ and ‘Swachh Bharat’ missions. Additionally, steps to boost disposable income will encourage conscious consumer spending, fostering a marketplace that is both resilient and responsible. We are fully committed to contributing to this shared vision and playing an active role in building a cleaner, more sustainable future for India. “

Ganesh Sonawane, Founder and CEO of Frido

“India’s startup ecosystem is a thriving hub of innovation, and we hope that the Union Budget 2025 reflect its potential. Startups, particularly those focusing on health-focused innovations, stand to benefit greatly from policies that streamline GST processes, introduce R&D tax incentives, and provide easier access to funding could ignite a wave of innovation, empowering manufacturers and startups to meet the increasing demand for wellness products. Encouraging startups to scale manufacturing for global markets will also be crucial in reinforcing the Make in India for the world initiative. With the right support, entrepreneurs can position India as a global hub for wellness and ergonomic solutions, showcasing the country’s ingenuity and innovation on the world stage.”

Vinay Singh, Executive Director and CEO of Q&I and Thomson Digital

“As we approach Union Budget 2025-2026, the EdTech industry looks forward to visionary policy support that catalyzes innovation and growth. The transformative potential of technology in education has become undeniable, especially in enhancing accessibility, personalized learning, and upskilling.

We urge the government to consider enhanced allocations for digital infrastructure in underserved regions, enabling widespread access to high-quality education. Tax incentives for research and development in EdTech solutions and subsidies for institutions adopting digital tools would also significantly encourage sector-wide innovation.

Additionally, partnerships between the private sector and government could expedite the integration of cutting-edge technologies like AI, AR/VR, and adaptive learning platforms into mainstream education. A focus on teacher training and content localization would further ensure that digital tools are both impactful and inclusive.

At Q&I, we remain committed to fostering learner-centric solutions that empower educators and students alike. With the right policy framework, 2025 could be a landmark year for making quality education accessible to every corner of the nation.”

  1. Promoting STEM Education & Paving the way for an inclusive and innovation-driven education system.

 India is projected to play a significant role in global workforce expansion, contributing about 20% of worldwide workforce growth from 2023 to 2050. STEM education is at the core of this transition, and the Rashtriya Avishkar Abhiyan (RAA) can serve as a foundational platform for preparing students for this emerging landscape and must prioritize reforms under the RAA to align with the demands of Industry 4.0 – Dr. Shashiranjan Jha, Associate Vice President, Education and Skill Development, IPE Global (international development consulting firm)

 Umesh Revankar, Executive Vice Chairman, Shriram Finance

“We anticipate that the upcoming Union Budget will prioritize infrastructure spending, which will significantly benefit our lending segments, particularly small businesses, contractors, and transporters. This focus on infrastructure is expected to lead to a surge in demand for steel, cement, and other materials, further driving demand in vehicle finance and other sectors reliant on bulk materials. This will not only boost economic activity but also create substantial employment opportunities, especially in semi-urban and rural areas. We foresee new vehicle sales growth in Q4 to be in double digits year-on-year, as we expect government spending on infrastructure to be much higher than previous quarters.”

Upcoming Conferences