Budget 2025 Expectations: With the Union Budget presentation date just a week away, industry stakeholders and experts and even economists have their eyes on the key reform policies and announcements from Finance Minister Nirmala Sitharaman. With the Budget coming against the backdrop of subdued economic momentum, a weakening rupee and geopolitical uncertainties, the finance minister is expected to announce a slew of measures to boost infrastructure, agriculture, MSMEs and other critical sectors, while also strengthening the economy with capex growth and consumption boost.
Elara Securities said, “The upcoming Union Budget is set to be framed in the backdrop of sluggish domestic demand and elevated global uncertainty under the cloud of Trumponomics. We expect Budget FY26E to strike a healthy balance between consumption and capital expenditure while retaining the fiscal deficit target of 4.5 per cent. While we expect modest measures for consumption, the key ideological thinking with respect to sustaining capital formation is unlikely to change materially. We expect 14 per cent growth in capital expenditure in FY26E vs 4.9 per cent in FY25E.”
Market expectations from the Budget 2025 are also high, amid hopes for bold and strategic measures.
Earlier on Friday, the finance minister held the traditional halwa ceremony at North Block in Delhi, marking the commencement of the printing process of the Central government’s Budget for the 2025-26 financial year. However, breaking the earlier tradition of an official release of the halwa ceremony, the Finance Ministry did not issue any photo, video or statement for the halwa ceremony.
Budget 2025 Expectations Live Updates: India bets on continued infrastructure investment momentum
Akshat Seth, MD & CEO, HIL Limited, said, “The Government of India’s allocation of Rs 11,11,111 crore (approximately $133 billion) for capital expenditure in the Union Budget 2024-25, representing 3.4% of the GDP, reflected a clear commitment to an investment-led growth strategy focused on creating quality infrastructure. Over the last decade, infrastructure development has been a catalyst for economic growth and employment generation.
As a key stakeholder with more than 77 years of participation in the buildings solutions industry, we at HIL hope this year’s Union Budget will continue the infrastructure investment momentum.
Government support for initiatives encouraging sustainable building solutions and powering up popular schemes such as Jal Jeevan Mission & PM Avaas Yojana can help create employment, improve health & sanitation conditions while providing affordable housing and essential infrastructure to the masses.”
Budget 2025 Expectations Live Updates: ‘Reducing GST on apparel from 12% to 5% can enhance affordability’
Sidhant Keshwani, Co-founder & CEO, Libas, said, “The 2025 Union Budget presents a crucial opportunity to strengthen India’s position in the global fashion industry. Reducing GST on apparel from 12% to 5% can enhance affordability, boost consumer demand, and drive overall industry growth. With the textile sector contributing 2.3% to GDP and employing over 45 million people, simplifying e-commerce regulations will enable businesses, particularly MSMEs and start-ups, to expand and compete more effectively. By implementing policies that support domestic manufacturing and streamline operations, India can take a significant step toward becoming a global hub for premium fashion.”
Kapil Garg, MD of Mufin Green Finance (NBFC/EV Financing), said, “ As we look toward the Union Budget 2025, it is crucial to recognise the role NBFCs play in driving electric vehicle adoption in India. One of the significant challenges in the EV sector is the high upfront cost, which often acts as a barrier for consumers. NBFCs can address this by offering innovative financing solutions, but supportive policy measures from the government are essential to scale these efforts effectively.”
“We urge the government to prioritize the inclusion of EV financing under the Reserve Bank of India’s Priority Sector Lending guidelines, which would incentivize financial institutions and lower borrowing costs for consumers. Tax exemptions on TDS for NBFCs, similar to banks could also help improve cash flow and enable competitive lending rates,” Gard added.
Budget 2025 Expectations Live Updates: Expectations from education sector
Rahul Attuluri, Co-founder and CEO of NxtWave, said, “The government has consistently fostered a supportive environment for EdTech startups to empower our youth, with initiatives like the National Skill Development Corporation leading the way. We hope the upcoming budget includes provisions for infrastructure support to establish new-age institutions dedicated to skill development, preparing India’s youth to meet industry demands effectively.”
Budget 2025 Expectations Live Updates: Expectations from ed-tech sector
Ujjwal Singh, Founding CEO, Infinity Learn by Sri Chaitanya, said, “The Union Budget 2025 should place a strong emphasis on the growth and sustainability of the K-12 ed-tech sector, particularly in driving measurable learning outcomes. As we see a shift towards AI implementation in education, it is crucial that the budget supports the integration of intelligent systems to enhance personalised learning experiences to ensure ‘Baccha Seekha Ki Nahi’.
The rapid growth of the test preparation sector also demands attention, with a need for investments that ensure accessible, quality education across all regions. Hybrid learning models, which combine the best of both online and offline education, have proven their effectiveness and require further support in the budget to enhance accessibility and engagement. We look forward to the government's initiatives to promote these advancements, ensuring a more equitable and innovative educational landscape for all learners, while addressing gaps in infrastructure and technology access.”
Budget 2025 Expectations Live Updates: Expectations from education sector
Jaskiran Arora, Dean Education Quality, BML Munjal University, said "As we look ahead to Budget 2025, the higher education sector has clear expectations aimed at global competitiveness and innovation. There is a strong call to allocate 6% of GDP to education, enabling significant growth. To foster development, enhancing foreign investments and enabling foreign currency loans for educational institutions is crucial, particularly to upgrade infrastructure and adopt cutting-edge technology solutions.”
Additionally, the focus on Public-Private Partnerships (PPP) and the implementation of Education 4.0, leveraging Fourth Industrial Revolution technologies, will be key to transforming learning and improving access. Measures such as expediting patent application processes for educational institutions and removing land ownership restrictions will further ease innovation and infrastructure development.
Budget 2025 Expectations Live Updates: Expectations from education sector
Nirvaan Birla, Founder and Managing Director - Birla Open Minds Education Pvt Ltd, said "The upcoming Budget would be the 8th Budget Speech to be presented by our Honourable Finance Minister Nirmala Sitharaman and all industries in general are expecting significant announcements ranging from income tax breaks, GST rationalization to industry specific policies to boost job market and revive the economy. Nirvaan Birla, Founder and Managing Director - Birla Open Minds Education Pvt Ltd, said "The upcoming Budget would be the 8th Budget Speech to be presented by our Honourable Finance Minister Nirmala Sitharaman and all industries in general are expecting significant announcements ranging from income tax breaks, GST rationalization to industry specific policies to boost job market and revive the economy. "
"However the anticipation is palpable particularly in the Education sector, as Education being the bedrock of societal progress, the Union Budget 2025 is expected to act as a pivotal tool to address the implementation challenges of the various initiatives taken in prior budgets," he added.
Budget 2025 Expectations Live Updates: Expectations from logistics sector
Subhasish Chakraborty, Founder, Chairman, and Managing Director of DTDC Express Ltd, said, “In alignment with India's ambitious goal of achieving a $7 trillion economy by 2030, the upcoming Budget 2025 presents a valuable opportunity to address key challenges related to efficiency, sustainability, and global competitiveness. The logistics sector stands at a transformative crossroads, and the Union Budget 2025-26 holds the potential to shape its growth trajectory significantly.
We encourage the government to prioritise investments in infrastructure modernisation, particularly in the creation of smart logistics parks and multimodal transport networks that embrace sustainable practices. A strong emphasis on green logistics is essential, with incentives to promote the use of electric vehicles, biofuels, and IoT-enabled transport systems. These measures will help lower logistics costs while reducing carbon emissions, paving the way for a sustainable future in the sector.
We also look forward to the implementation of policies that create an equitable environment for all stakeholders, from large corporations to MSMEs. Such a strategy can promote inclusive growth across the industry.”
Budget 2025 Expectations Live Updates: Expectations from e-commerce sector
Chirag Taneja, Co Founder & CEO, GoKwik, said, “As we gear up for the Union Budget 2025-26, the e-commerce sector will continue to play a defining role in India’s economic growth story. With nominal GDP growth projected, this budget should offer a chance to align policy with innovation, unlocking the next wave of growth for ecommerce businesses. Investments in AI-driven technologies and a robust digital infrastructure can help brands scale seamlessly while contributing to India’s ambition of becoming a $5 trillion economy. We also need to simplify compliance for MSMEs—steps that can reduce inefficiencies and enhance global competitiveness for Indian e-commerce.
As global shifts happen with trade policies and potential tarrif ban, e-commerce can also thrive on enhanced cross border commerce, and policies should be made to boost this further.”
Budget 2025 Expectations Live Updates: What is electronics and smartphone manufacturing industries expecting from Budget?
Arijeet Talapatra, CEO, itel India, said, “The upcoming Union Budget holds immense potential to accelerate growth in the electronics and smartphone manufacturing industries. The growing aspirations of India’s youth, driven by their pursuit of innovation, entrepreneurship, and a digital-first future, underscore the urgent need for robust cybersecurity measures and cutting-edge 5G infrastructure. Prioritizing investments in 5G infrastructure and cybersecurity will further support Digital India’s growth by enabling innovation, safeguarding critical systems, and unlocking opportunities across sectors like healthcare and smart cities. Expanding the PLI program further to increase the allocation for semiconductors, high-capacity batteries, and display technologies will strengthen India’s value chain, reduce imports, and enhance our global competitiveness. Focused R&D grants for emerging technologies such as AI and IoT will be a much-needed boost – a significant step towards making India a Vishwaguru in the electronics ecosystem.”
Budget 2025 Expectations Live Updates: Expectations from renewable energy sector
Capt. Ishver Dholakiya, Managing Director and Founder, Goldi Solar, said, “Goldi Solar urges the government to continue devising policies that enhance global competitiveness, foster self-sufficient local manufacturing, and support the expansion of infrastructure needed for manufacturing excellence. Key measures such as reducing GST on renewable equipment, expanding initiatives like the ‘Green Credit Program,’ and increasing R&D funding for solar technologies are crucial to making clean energy more accessible and affordable. Further, investments in transmission infrastructure and strengthening public-private partnerships will further ensure grid stability and efficiency. Goldi Solar remains committed to driving this vision through innovation and manufacturing excellence, contributing to India’s clean energy future.”
Budget 2025 Expectations Live Updates: ‘We recommend inclusion of fertility treatments under Ayushman Bharat scheme’
Abhishek Aggrawal, Chief Executive Officer, Birla Fertility and IVF, said, “Over the last few years, there has been an increased commitment from the Indian government towards healthcare through initiatives like Ayushman Bharat, Pradhan Mantri Suraksha Bima Yojana, Mission Parivar Vikas, and Pradhan Mantri Surakshit Matritva Abhiyan. While these initiatives have significantly advanced many areas of healthcare, the fertility space requires a higher impetus. Fertility treatments such as IVF are still not covered under Ayushman Bharat or other key health schemes, limiting accessibility for many who need it. As we await Budget 2025, it is crucial for the government to focus on further enhancing the inclusivity of the healthcare system, particularly for fertility-related treatments. We recommend the inclusion of fertility treatments under the Ayushman Bharat scheme to improve access for economically disadvantaged groups. Additionally, the government should consider tax incentives for fertility treatments and extend their coverage in health insurance policies. We also propose the establishment of a nation.”
Budget 2025 Expectations Live Updates: Expectations from manufacturing sector
Satish Shukla, Co-founder, Addverb, said, “Given that India is becoming a major hub for manufacturing worldwide, we expect robust policy initiatives that will fuel innovation and strengthen India's place in the global supply chain. Initiatives like "Make in India" have also greatly increased manufacturing across industries, investments, and exports. We anticipate further programs and initiatives to support the development of a highly trained workforce required to accelerate the adoption of industrial automation. Furthermore, maintaining competitiveness in the global market will also require sustained support for R&D, innovation, and skill development, particularly for industries like robots and artificial intelligence.
Increased investment and PLI schemes can further bolster the overall growth of the manufacturing industry, driven by automation and technology solutions. A right policy environment can help accelerate adoption of newer technologies like robotics and automation, which can not only create more job opportunities, but also ensure India’s leadership on the global industrial revolution.”
Budget 2025 Expectations Live Updates: Govt should boost consumption in the economy
Rajiv Sabharwal, MD & CEO, Tata Capital, said, “As we approach the Union Budget 2025, there is a significant opportunity for the government to boost consumption in the economy by increasing disposable income in the hands of people. Moreover, offering tax rebates on retail savings accounts and bank deposits will aid in improving the ability of banks to mobilise deposits and thereby boost the entire credit ecosystem. An increase in the tax deduction limit for housing loan interest will stimulate loan uptake and encourage the housing sector. Also, housing loan limits under priority sector lending should be increased considerably from the present levels to reflect the current market realities. Furthermore, prioritizing the creation of a robust digital ecosystem for MSMEs will be crucial in ensuring seamless credit access, promoting growth, and strengthening the backbone of our economy. Additionally lowering SARFAESI threshold from Rs 20 lakh to Rs 1 lakh will help NBFCs for faster resolution of stressed accounts and bring them at par with HFCs, Banks and other financial institutions.”
Budget 2025 Expectations Live Updates: Budget should address dual challenges of rising air pollution and sustainable energy transition
Varun Puri, Managing Director, Green Power International Pvt Ltd, said, “We are hopeful that the upcoming Union Budget will include impactful measures to address the dual challenges of rising air pollution and sustainable energy transition. Bioenergy, as a clean and renewable source, holds immense potential in tackling these issues while supporting India’s energy security goals. We look forward to policy initiatives that incentivize the setup of bioenergy plants, offer subsidies for advanced energy equipment, and provide financial support for importing cutting-edge clean energy technologies. Simplifying regulatory processes and offering tax benefits for the adoption of sustainable energy solutions will further encourage industries to transition to greener alternatives. Such measures will not only combat pollution but also foster innovation, create jobs, and contribute to a healthier and more sustainable future for India.”
Budget 2025 Expectations Live Updates: ‘Budget will continue to prioritize inclusive growth and sustainable development’
Samir Krishan Modi, Managing Director, Modi Enterprises, said, “As we approach the Union Budget 2025-26, the key to revitalizing economic growth lies in empowering consumers and fostering consumption-led demand. Measures like tax relief, GST rationalisation, and targeted rural initiatives will not only enhance purchasing power but also drive private consumption, benefiting industries and fostering equitable growth. Additionally, protecting small retailers, promoting fair trade practices, and investing in rural skilling and entrepreneurship are crucial for unlocking India’s economic potential. The government has shown commendable foresight in its efforts to address economic challenges, and we are confident that this Budget will continue to prioritize inclusive growth and sustainable development.”
Budget 2025 Expectations Live Updates: Budget presentation date
Earlier on January 17, Parliamentary Affairs Minister Kiren Rijiju, in a post on X (formerly Twitter), announced that Finance Minister Nirmala Sitharaman will table her eighth Budget on February 1. He also said that President Droupadi Murmu, on the recommendation of the Government of India, has approved summoning both Houses of Parliament for the Budget Session 2025 from 31st January, 2025 to 4th April 2025.
Budget 2025 Expectations Live Updates: FM holds Halwa ceremony
Finance Minister Nirmala Sitharaman held the customary Halwa ceremony on Friday evening at the Central Secretariat’s North Block, marking the final stage of the Union Budget preparation process.
Budget 2025 Expectations Live Updates: Welcome to this live blog!
Greetings! We, at FinancialExpress.com, are bringing to you all the updates around the expectations from across industries with Finance Minister Nirmala Sitharaman all set to present the Union Budget 2025 on February 1. With this live blog, we will bring to you all the updates on key expectations, Parliament’s Budget Session dates, to statements by the government and key stakeholders. Stay tuned.