Union Budget 2025 Expectations highlights: Halwa ceremony to be held today in North Block

Union Budget 2025 Latest Updates: Catch all the latest developments related to Union Budget 2025 here

Union Finance Minister Nirmala Sitharaman will deliver the 2025-26 Budget on February 1. In the lead-up to the presentation, multiple sectors have voiced their concerns and expectations.

 

The finance minister is scheduled to present the Budget speech in Parliament at 11 am on February 1, 2025.  The traditional Halwa ceremony, which signifies the completion of the Budget preparation for the 2025-26 financial year, will take place in North Block today (February 24) evening.

4:41 PM

Can Budget 2025 address sugar sector’s call for MSP hike to Rs 39.14/kg?

Tarun Sawhney, vice-chairman and managing director, Triveni Engineering and Industries Ltd (TEIL), "The sugar industry is optimistic that Budget 2025 will address key challenges and pave the way for sustainable growth. A critical area of focus is the long-overdue revision of the minimum selling price (MSP) for sugar, which has remained stagnant at Rs 31 per kg since 2019. Rising production costs and the increasing Fair and Remunerative Price (FRP) for sugarcane necessitate a revision to Rs 39.14 per kg. Such a move will not only stabilise the financial health of sugar mills but also ensure fair and consistent returns for farmers, creating a balanced and resilient ecosystem."

4:13 PM

Will Budget 2025 boost renewable energy targets and accelerate deployment?

Disha Agarwal, Senior Programme Lead, CEEW, said, “Past efforts have made India the fourth-largest renewable energy installer globally. Around 12 per cent of the electricity generated in the country today comes from solar and wind, up from 7 per cent in FY19. The upcoming Budget must send a strong signal to the market by raising the ambition to go beyond 500 GW by 2030. It must institute urgent measures to accelerate deployment and offtake of renewables." 

2:40 PM

Agriculture sector eyes PLI, R&D, and rural tech infrastructure boost: Insecticides (India) Ltd MD

Rajesh Aggarwal, managing director, Insecticides (India) Ltd, "The agriculture sector in India faced several challenges in 2024, from unpredictable weather patterns and supply chain disruptions to growing sustainability pressures. However, there has also been significant progress, particularly in agri-tech innovations and the government’s commitment to farmer welfare. Looking ahead to Budget 2025, there’s a valuable opportunity to build on this momentum.

 

"For the agrochemical sector, the focus should be on incentivising research into eco-friendly and latest new age solutions and PLI. Supporting small-scale farmers with better access to technologies and crop protection solutions will be crucial to increasing yields and reducing losses. I am hopeful that the Budget will prioritise improving infrastructure to support rural communities. Expanding access to digital tools and technologies will empower farmers to make data-driven decisions, enhancing productivity and food security. Additionally, increased budget allocation for R&D will drive the development of novel products and solutions, enabling organizations to better meet the evolving needs of the sector.”

1:56 PM

AI, digital skilling, and subsidies top career sector wishlist: Workruit CEO

Manikanth Challa, Founder & CEO, Workruit, said, "The Union Budget 2025 holds immense potential to shape the future of career development and job readiness in India... We expect a stronger focus on integrating AI-driven tools and platforms into career-building programmes. From Workruit’s perspective, we hope to see a dedicated Budget for developing AI-based career guidance platforms and resume-building tools that empower job seekers to align their profiles with market demands and employer expectations. Subsidies or grants for startups working on ATS-compliant resume builders and personalised job search tools would be a step in the right direction."

 

"Moreover, further enhancements to digital skilling programmes and targeted upskilling initiatives for women, rural youth, and gig workers can make career-building efforts more inclusive. An increase in allocations for AI research and innovation, particularly in recruitment technology, will accelerate the development of tools that streamline hiring processes. Additionally, creating tax incentives for companies investing in AI for career-building and launching a central portal for skill certification and job matching could bridge critical gaps between education and employment. These steps would solidify India's position as a global leader in talent development."

1:13 PM

EV sector expects simplified tax structure, GST cut on batteries: NHEV Project Director

Abhijeet Sinha, Project Director, NHEV (National Highways for Electric Vehicles), said, "As India navigates the evolving landscape of mobility, Budget 2025 is expected to address potential challenges in the electric mobility sector this year. The industry envisions a Budget that simplifies tax structures across vehicles and components, reduces the GST on EV batteries, and streamlines refund processes for EV manufacturers. 

 

"Support for sustainable energy storage and fast charging solutions will not only benefit EVs but also facilitate renewable energy integration. Advanced Battery Storage Systems (BSS) will enhance the energy independence of mobility. Long-term support for the development and adoption of high-quality, long-lasting battery technologies is crucial to ensure self-reliance and reduce dependency on imports," Sinha added.

12:25 PM

Residential real estate seeks tax relief, finance access from Budget 2025: Conscient

Mohit Agarwal, Business Head, Conscient, said, "We hope the upcoming Budget will introduce initiatives aimed at boosting demand within the residential real estate market, a vital pillar of India's economic growth. The real estate sector, contributing nearly 8 per cent to the nation's GDP, plays a key role in job creation and driving growth across multiple industries. To sustain this positive momentum, it is crucial that the government implements measures to ease the financial challenges faced by homebuyers and developers alike."

 

"This could include tax relief, improved access to finance, and incentives to boost liquidity in the market. By prioritising these areas, the 2025-26 Budget can further strengthen the real estate sector's contribution to India’s overall economic development and ensure continued growth and stability," Agarwal said.

11:48 AM

Crypto industry calls for balanced taxes, clear compliance framework, innovation-friendly policies: Zuvomo MD

Nikhil Sethi, founder and MD, Zuvomo, said, "The Budget 2025 is a critical moment for India to reclaim its leadership in the global tech ecosystem. India ranks first in the number of crypto holders and third in tech unicorns globally. Yet, we seem to have missed the Web3 tsunami, which doubled its market cap in 2024 and saw DeFi TVL surge by 2000 per cent year-on-year. Ambiguity in crypto compliance and a regressive tax regime have hindered innovation, pushing startups and talent overseas."

 

"In a country with thousands of tech startups, a thriving ecosystem, and globally leading talent, the crypto industry expects balanced taxation, clear compliance frameworks, and innovation-friendly policies. These are crucial to ensuring India remains in the forefront. The finance ministry and the RBI must mitigate risks without stifling growth. A progressive approach will unlock massive economic potential, create jobs, and solidify India’s position as a global leader in Web3 innovation," Sethi said.

11:07 AM

Drone firms call for PLI, DLI support for cybersecurity, local components: Zuppa Geo Navigations MD

Sai Pattabiram, founder and MD, Zuppa Geo Navigations Pvt. Ltd, said, "The demand for secure non-Chinese drones is growing the world over and more so in India. India has the opportunity to leverage its own domestic consumption and global reputation as a trustworthy technology partner built by the IT sector to evolve into a global drone hub. This can only be achieved by India moving deeper into the component level supply chain from the current assembly of imported components level that it is in today."

 

"Drone cybersecurity is turning out to be an absolute must-have for India... The government should recognise this huge national as well as global opportunity and support companies involved in component manufacturing, cyber, data security, and analysis for drones, A Design linked Incentive ( DLI ) coupled with a PLI that supports use of only Domestically produced components by OEMs will boost the sector in a big way. "

10:23 AM

Industry calls for better connectivity, electric mobility growth: Chartered Speed

Sanyam Gandhi, whole-time director at Chartered Speed, said, "We are confident that the government’s continued investment in developing the road network, especially through initiatives like the Pradhan Mantri e-Bus Sewa Scheme and the Pradhan Mantri Gram Sadak Yojana (PMGSY), will significantly increase intra-city and inter-city connectivity, ensuring better access to both urban and rural areas while playing a crucial role in strengthening public transportation and infrastructure."

 

"We also anticipate that the government will accelerate the adoption of electric mobility through policies aimed at promoting electric vehicles, such as the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme and the PM E-DRIVE initiative, which focus on incentivising electric buses, two-wheelers, and three-wheelers, as well as expanding charging infrastructure. Focusing on public infrastructure for electric buses could be an important step in supporting the growth of electric fleet operators and facilitating the expansion of long-range services."