Budget 2025 Expectations: Focus on Innovation and Sectoral Reforms
Key Ideas
- Tata Tech CEO emphasizes the need for innovation-driven policies and investment in emerging technologies in the upcoming Budget.
- Automakers advocate for green tech support and allocations for the EV ecosystem to boost sustainable mobility.
- SBI Research proposes a universal income transfer scheme and separate tax deductions for social security in Budget 2025 proposals.
- Various sectors like railways, elderly welfare, and crop protection outline their expectations and demands for the upcoming Union Budget.
As India prepares for the Union Budget 2025, various stakeholders are expressing their expectations and demands. Warren Harris, the MD and CEO of Tata Technologies, stressed the importance of innovation-driven policies and investments in emerging technologies to achieve ambitious economic goals. Automakers are urging for merit-based policies to support green technology and allocations to enhance the electric vehicle ecosystem. SBI Research has proposed a universal income transfer scheme and separate tax deductions for social security to be included in the budget. Additionally, the railway sector anticipates a funding boost, while the Agewell Foundation appeals to address elderly welfare challenges in the budget.
The India Hydrogen Alliance has recommended a significant budget increase of $2.5 billion for the National Green Hydrogen Mission in Budget 2025. Furthermore, CropLife India and Puri Oil Mills have put forth requests for tax cuts and sector-specific support. Experts foresee a moderate hike in defence allocations, and SBI Research anticipates higher tax exemption limits on savings accounts. As the budget date approaches, stakeholders across various sectors are eager for policy reforms and sectoral allocations that will drive growth and innovation in the Indian economy.