Budget 2025 to Focus on Tax Relief, Growth Measures

The upcoming budget for 2025, set to be presented on February 1, is expected to include several measures aimed at supporting demand and propelling growth in light of the slowing economy, The Economic Times reports.

These measures include tax relief for the middle class, tariff adjustments to shield domestic industry from external pressures, and initiatives to foster job creation and private investment.

Discussions within the government have intensified with a focus on delivering a strong message on reforms and ease of doing business.

Economic growth for FY25 is forecasted to slow to a four-year low of 6.4%, heightening the demand for effective measures.

Tax relief under the new tax regime, simplification of corporate taxes, and adjustments to the tax deducted at source (TDS) are also being considered.