Page 31 - Union Budget

Budget 2025: NRAI seeks industry status, subsidies for food services sector

National Restaurant Association of India (NRAI) on Wednesday asked the government to grant industry status to the food services sector while seeking an equitable and fair e-commerce policy to provide a level-playing field to protect restaurants, delivery partners and consumers from potentially exploitative practices of platforms. In its pre-Budget recommendations, National Restaurant Association of India (NRAI) said restaurants should be allowed to operate for longer hours, and also sought targeted subsidy schemes and access to debt financing for SMEs. NRAI said the industry is expected to reach Rs 7,76,511 crore and grow at an 8.1 per cent CAGR by 2028, making it the third-largest food services market globally. "Given the size (and) immense contribution of the food services industry to the country's economy, it should be accorded an industry status," NRAI said in a statement. Industry status helps in getting lower utility tariffs, reduced property taxes, easier access to finance,

Budget 2025 expectations: Insurers seek GST cut, Section 80D hike, more

Budget 2025: Key demands include reducing GST on premiums, revising tax exemptions under Section 80D, and introducing a health regulator to counter rising medical inflation

Union Budget should reduce personal I-T for lower-income groups: EY India

The Budget is expected to focus on boosting private capex, tax simplification and reduction in personal income tax, particularly for the lower-income groups, to stimulate demand, EY India said. The Union Budget for 2025-26 is scheduled to be presented in Parliament on February 1. EY India, in its Budget expectation note, said with over Rs 31 lakh crore stuck in income tax disputes as of 2023-24, there is an urgent need to clear Commissioner of Income Tax (Appeals) backlog and bolster alternate dispute resolution mechanisms like advance pricing agreements and safe harbours. "While a full comprehensive review of the direct tax code may take time, we might see some initial steps towards its implementation in this Budget. I also hope for a reduction in personal income tax, particularly for the lower-income groups, to provide relief and stimulate demand," said Sameer Gupta, National Tax Leader, EY India. EY said the expectations from Budget are focused on a set of strategic reforms that

Govt's fiscal deficit target in reach despite lower GDP estimate

The Budget had assumed nominal GDP to grow 10.5 per cent for FY25

10th oil and gas bidding round only after passage of oilfield Bill

Upcoming legislation meant to streamline exploration and production

Budget needs to prioritise strategies for sustainable economic growth

The government is unlikely to be pleased with the FAE, which could increase challenges both for the current year and the medium term

Can tax cuts be introduced in Union Budget 2025?

With Union Budget 2025 just around the corner, the buzz is growing. The big question: Will middle-income taxpayers finally get the relief they’ve been waiting for? Watch the video to know more.

Industry leaders seek affordable housing, duty relief at pre-Budget meet

The housing and infrastructure sectors were represented by leaders such as Hiranandani Group, Afcons, L&T, and GMR Group

Jobs, growth, demand in focus as FinMin concludes pre-Budget talks

The Union Budget for FY 2025-26 assumes significance as it comes on the back of lower than expected growth numbers in the second quarter and geopolitical uncertainty

Budget 2025: Plastics manufacturers seek PLI to scale up global presence

All-India Plastics Manufacturers' Association on Monday urged the government for a production-linked incentive scheme for the sector in the upcoming Budget 2025, to increase India's share in the global plastics market. In a pre-budget consultation meeting with the Union Finance Minister Nirmala Sitharaman, All-India Plastics Manufacturers' Association (AIPMA) said it has asked the government to reduce GST to 'nil' for plastic waste as well as recycling machinery, to encourage recycling. Besides, it has also sought lowering of GST to 5 per cent, from 18 per cent, on the conversion cost of recycled plastic granules, and providing a 20 per cent subsidy to purchase capital equipment for recycling, the association said in a statement. AIPMA Chairman Arvind M Mehta said India has immense potential to scale up its operations and increase its share in the global plastic market. "China's export of plastic finished goods is currently 25 times higher than India's, underscoring the vast ...

India's FY25 GDP growth likely to remain in 6.4-6.8% range: Experts

Rural demand, services sector may lift H2 showing

Centre pushes transfer to states to meet capital expenditure goals

Experts feel despite government efforts there has been a lag in capex pick up but there is a good case for continued push towards such expenditure

Budget wishlist: Pharma firms seek simplified taxes, stronger PLI scheme

Among other demands is the removal of Section 194R, related to marketing samples, which would ease business operations

NBFCs seek reforms in pre-budget talks to boost liquidity, ease challenges

One of the primary requests made by the FIDC was for a reduction in the loan amount threshold for enforcing security interest under the SARFAESI Act, from Rs 20 lakh to just Rs 1 lakh

Next steps in fiscal management: Road map needed for debt, deficit targets

The Central government debt is projected to decline from 58.1 per cent of GDP in 2023-24 to 56.8 per cent in 2024-25

Budget 2025-26 must prioritise defence and security over welfare schemes

India's growing external and internal threats demand urgent shifts in fiscal focus to strengthen defence, policing, and cyber capabilities

RBI rate cut, Trump, Budget: What factors will drive stock markets in 2025

Stock Market Outlook 2025: Analysts believe India stock markets may continue to witness market consolidation, at least in the first half of 2025

Budget 2025-26: India Post may get funds for tech-driven transformation

In FY25, the Union government had made a budgetary allocation of Rs 250 crore for India Post

Budget: Experts push for higher health, edu fund, duty cuts on cancer care

A key demand discussed in the meeting was the reduction of customs duty and other levies on the import of radiation machines used to treat cancer

Industry seeks tax relief, capex boost, reforms at FinMin's pre-budget meet

Industry representatives stressed that, given the uncertainty caused by persisting global headwinds, government's focus on public capex in physical, social, and digital infrastructure will be crucial