SOURCE : CNBC TV18 | PUBLISHED : 27 JANUARY 2025
Budget 2025 Expectations Live Updates: Congress general secretary Jairam Ramesh also emphasised the need for a Standing Committee to review wage rates and opposed the mandatory implementation of the Aadhar Based Payment Bridge System.
Budget 2025 Expectations Live Updates: Ahead of the Union Budget, Tata Technologies emphasised the need for increased allocation toward upskilling initiatives aligned with Industry 4.0 to build a future-ready workforce.
To support India’s goal of becoming a $5 trillion economy, the budget should focus on innovation-driven policies, investments in emerging technologies, and the development of products catering to both domestic and global markets.
Key growth areas like smart manufacturing, AI, digital transformation, and software-defined vehicles require government support through incentives for R&D, skill development, and infrastructure development, according to Tata Technologies CEO & MD Warren Harris.
Industry stakeholders eagerly await Finance Minister Nirmala Sitharaman’s upcoming Union Budget, with one key question on everyone’s mind: Will the Budget stimulate consumption, boost gross domestic production (GDP) growth, and provide tax relief to the common man and salaried individuals?
Sitharaman will present the Union Budget for 2025 when GDP growth has slowed significantly. It is anticipated that the government will focus heavily on economic recovery.
The first part of Parliament’s Budget session is set to begin on January 31 and will run until February 13, 2025, with the second part starting on March 10 and concluding on April 4, 2025.
In her eighth Union Budget speech, Finance Minister Sitharaman is expected to address a range of issues—from individual taxpayers to sectors like tech, healthcare, insurance, and finance. There are high hopes for announcements to help revive the economy, create jobs, and boost consumer sentiment.
Challenges expected to be addressed in Budget 2025 for the electric mobility sector. The industry is looking for simplified tax structures for vehicles and components, a reduction in GST on EV batteries, and a streamlined refund process for EV manufacturers.
Mr. Abhijeet Sinha, Project Director of NHEV (National Highways for Electric Vehicles)
Addressing delays in PLI disbursements and easing value-addition norms could encourage domestic manufacturing, reducing dependency on imports. The sector is also advocating for a uniform 5% GST across all EV components and charging infrastructure to reduce costs and support growth.
SOURCE : CNBC TV18 | PUBLISHED : 27 JANUARY 2025
