Budget Highlights: What FM Nirmala Sitharaman’s Bahi Khata holds for aam aadmi

Finance Minister Nirmala Sitharaman will present the first full Budget of Modi 3.0 today. The Union Budget 2025-26 is expected to focus on economic growth while maintaining fiscal discipline. Taxpayers, businesses, and key industries anticipate measures that boost consumption, incentivise capital expenditure, and support critical sectors such as real estate, MSMEs, healthcare, artificial intelligence (AI), electric vehicles (EVs), and renewable energy.

Budget Highlights: Focus on tax relief

A major expectation from the budget is tax relief for both individuals and businesses. Taxpayers are looking for revisions in tax slabs under the new tax regime, with a growing demand to make annual income up to Rs 10 lakh tax-free.

There is also a call for an increase in the standard deduction limit, which currently stands at Rs 50,000 under the old tax regime and Rs 75,000 under the new one. Industry experts believe such revisions could boost disposable income and overall consumption.

Union Budget Highlights 2025: Industry demands and fiscal consolidation

Businesses expect policies that encourage capital expenditure and facilitate growth across sectors. Key industries, including real estate, MSMEs, and technology-driven segments, are seeking incentives and tax benefits to strengthen their operations.

At the same time, fiscal consolidation remains a priority for the government. Experts suggest that while economic expansion is necessary, maintaining a stable fiscal deficit is equally important. The budget is likely to aim for a balance between growth-driven incentives and fiscal responsibility.