Union Budget 2025: How Upcoming Budget Will Impact Your Pockets, Know What Will Become Expensive and Expectations

Union Budget 2025: Finance Minister Nirmala Sitharaman will release the Union Budget for fiscal year 2025-26 on February 1. The public, particularly the middle class, hopes for policies that would lower costs and make critical commodities more affordable. The government is anticipated to focus on more areas this year after prioritizing public infrastructure and sustainability in last year's budget. Changes in taxation, excise duties, and subsidies are key areas of interest, as they will have a direct impact on the prices of various goods and services. The petroleum and gas industry, which received a budget allocation of Rs 1.19 trillion last year for energy infrastructure development despite a drop in subsidies, anticipates a possible fall in excise duty, as recommended by the Confederation of Indian Industry. 

What to Expect From Budget 2025?

The government prioritizes the electronic industry, providing Rs 15,500 crore in the last budget to support semiconductor and mobile manufacturing. Any budgetary announcements in this sector may result in lower costs for cell phones and technological goods. The textile industry may also experience decreases in financial aid and tariff revisions, which will increase competitiveness in the home market and lower apparel prices. It is also said that the government will raise the 80C tax exemption limit from Rs 1.5 lakh to Rs 3 lakh, offering relief to taxpayers. Furthermore, railway renovation is expected to be a primary priority, with efforts focusing on passenger safety and infrastructure upgrades. Reports indicate a shift in emphasis toward railway growth rather than road maintenance, which could benefit the logistics and manufacturing industries.