"We hope that Budget will benefit poor and farmers": Shiv Sena (UBT) leader Anand Dubey
Feb 01, 2025
Mumbai (Maharashtra) [India], February 1 : Shiv Sena (UBT) spokesperson Anand Dubey has expressed hope that the budget 2025 will benefit the poor and farmers.
Speaking ANI, Dubey said, "The prices of basic amenities have been increasing for the last ten years. Even today 80 crore people are standing in queues for free food. Taxes should be reduced and farmers should get benefits. No one is talking about employment. The government has been playing with the emotions of the people for the last 10 years. We hope that the budget will benefit the poor and farmers."
The Union Budget 2025-26 is set to be presented on Saturday, anticipating to strike a balance between economic growth and fiscal prudence while addressing the expectations of taxpayers, businesses, and key industries.
Industry leaders and experts are hoping for measures that drive consumption, incentivize capital expenditure, and support critical sectors such as real estate, MSMEs, healthcare, artificial intelligence (AI), electric vehicles (EVs), and renewable energy. Furthermore, continued fiscal consolidation remains a key expectation.
One of the most awaited aspects of the budget is tax relief for individuals and businesses. Taxpayers are expecting changes in tax slabs under the new tax regime, with hopes of an increase in exemption limits and standard deductions. There is a demand for making annual income up to Rs 10 lakh tax-free.
Taxpayers are also expecting an increase in the standard deduction limit, currently set at Rs 50,000 under the old tax regime and Rs 75,000 under the new tax regime.
Businesses expect a growth-oriented budget while maintaining fiscal discipline. A survey by FICCI found that 68 per cent of businesses favor at least a 15 per cent increase in capital expenditure allocation to fuel economic growth.
The government is expected to continue its fiscal consolidation roadmap, bringing down the fiscal deficit from 4.9 per cent in FY25 to 4.8 per cent, with a target of 4.5 per cent in FY26.
