As we inch towards the Union Budget 2025, there is palpable excitement over what announcements the government is going to make this time. The most important question concerning the common man is whether the middle class will welcome stimulus in this budget. Should we expect a fall in the prices of petrol and diesel? Will the inflation in food and other essential commodities be curbed? These are the important puzzles that we need to dissect.

Union Budget 2025 : New Tax Regime and Income Tax Slabs

There are a lot of conjectures to be made on the new tax regime in the 2025 budget. There have been expectations that there may be noteworthy upgrades in income tax slabs, which could directly aid the middle class.

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Expected Income Tax Slabs (New Tax Regime 2025):

• ₹0 – ₹5 lakh: No tax (exempt)
• ₹5 lakh – ₹10 lakh: 5%
• ₹10 lakh – ₹15 lakh: 10%
• ₹15 lakh – ₹20 lakh: 20%
• Above ₹20 lakh: 30%

With this slab, the government hopes to increase enrollment in the new tax regime by making the process of filing and paying taxes easier.

Will the Middle Class Get Relief?

Also, the middle class is eagerly looking to the government for some word on relieving income tax rates. Speculations make us believe that there are new announcements in the pipeline, like an increase in the standard deduction and new exemptions for income from small businesses. Other possibilities include auctioning public sector banks that could lower home loan interest rates and increase tax benefits on health insurance.

Effect of Budget 2025 on the Share Market

Much weight will be placed on the Union Budget 2025 by the stock market. Investors are observing closely any an any changes on corporate tax, capital gains tax, and spending on infrastructure. A capital market that responds well to expenses that promote economic activity, provide industry incentives, and are open to investments is likely to show a bullish trend. Conversely, increased upper boundaries on capital gains or heightened concern over the fiscal deficit may trigger market instability.

Stock Market Open on Saturday for Budget Impact

Effect on Prices of Petrol and Diesel

In addition, inflation remains a perennial issue for the government. The price increase in petrol and diesel affects every person. This time around, the fuel excise duty may have been lowered in anticipation of more fuel consumption from the common man. Also, as a means of boosting the use of alternative energy, the government will probably think about giving tax breaks for electric cars as well as hybrids.

Inflation on Daily Used Items

The greatest fear for the average Joe is the increased cost of food, vegetables, and other basic items. The government may reduce GST rates or increase subsidies for important everyday goods to balance the economy.

2025 Budget Date and Live Updates

On February 1, 2025, Union Finance Minister Nirmala Sitharaman will announce the budget in Parliament. For further information and noteworthy updates, refer to our blog.

Presidential Speech Controversies in Parliament

At the very beginning of the budget session, President Droupadi Murmu gave the speech, which was contentious as the opposition attacked it. And Congress MP Sonia Gandhi remarked, “By the end, the President was extremely tired; she could hardly talk out loud.” This has raised political questions in Parliament. Now this statement is going viral on social media for this controversy. #Budget2025 #Nirmlasitaraman #

Summary

How beneficial the 2025 budget will be for the middle class remains to be seen. But there is a chance for the government to make important choices about inflation management, gasoline price reductions, and tax exemptions.

How do you feel? Will this year’s budget help the middle class? Post your opinions in the comments section! #Budget2025

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Finance Minister Nirmala Sitharaman on tax relief has underlined the government’s commitment to guaranteeing an equitable and effective tax system in an effort to promote greater financial inclusion and tax reforms. The government continues to implement policies that provide both short-term and long-term financial assistance to people and businesses, all with the goal of lessening the burden on taxpayers.

Income Tax Relief: CBDT Extends Vivad Se Vishwas Scheme 2024 Deadline, Allowing Taxpayers More Time to Pay Lower Amount of Tax to Settle Dispute

For taxpayers wishing to settle long-standing income tax issues, the Central Board of Direct Taxes (CBDT) has extended the deadline for the Vivad Se Vishwas scheme. With this extension, taxpayers can pay a much smaller portion of the contested tax and have more time to resolve their claims. Taxpayers now have the chance to pay off any outstanding tax obligations with less financial strain thanks to a streamlined procedure and longer deadlines, guaranteeing completion without incurring increasing fines. Finance Minister Nirmala Sitharaman on tax relief.

Budget Wishlist: Mutual Fund Industry Seeks Tax Relief on Debt Schemes

As the budget season approaches, the mutual fund sector has a major concern: tax relief for debt schemes. Currently, long-term capital gains on debt fund investments are heavily taxed, prompting requests for relief. Tax relief, according to industry stakeholders, would increase the attractiveness of debt funds, resulting in increased participation in the financial market and allowing investors to keep more of their gains.

India Inc Urges Higher Capex, Tax Relief in FY26 Budget

In preparation for the FY26 Budget, India Inc. has urged for increased capital investment (Capex) and additional tax relief. With an emphasis on infrastructure and industrial expansion, India Inc anticipates that the government would prioritise tax relief measures to encourage corporate investment. Industry leaders are requesting a more favourable tax regime to improve their ability to invest in new projects, create jobs, and promote economic development.

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