Union Budget 2025: India Boosts Business, Growth, and Public Finances
The Union Budget has been unveiled, focusing on enhancing India's business environment, boosting growth, and improving public finances. Key measures include reducing tax harassment, simplifying processes, and promoting technology and innovation.
The Budget aims to ease the burden on businesses by decriminalizing minor offenses, enhancing contract enforcement, and streamlining tax payment processes. It also removes the dividend distribution tax, eliminating double taxation of dividends and boosting returns on equity.
To maintain competitiveness, the Budget emphasizes the importance of technology and innovation. It proposes a National Logistics Policy to boost manufacturing efficiency and create jobs. Additionally, it aims to accelerate infrastructure building, including highways, railways, airports, and ports, to revive investment.
To alleviate financial stress in the power distribution sector and encourage investment in power generation, the Budget proposes measures to improve the sector's financial health. It also focuses on increasing rural spending and lowering personal income tax rates to boost consumption.
The Budget proposes to raise funds through alternate sources of revenue, including asset monetisation and the listing of LIC. It aims to realise an ambitious disinvestment target of ₹2.1 lakh crore. The fiscal deficit has been reined in at 3.8% of GDP, with a proposed reduction to 3.5% for the coming year, reflecting the government's commitment to fiscal prudence.
Read also:
- U.S. CBP's Operation Plaza Spike Boosts Fentanyl Seizures Along Arizona-Mexico Border
- Regensburg Court Sentences Pizza Delivery Owner for Illegal Employment, Tax Evasion
- Tesla's EV Market Share Plummets in Europe, US Competition Intensifies
- Catastrophe at a U.S. Steel facility in Pennsylvania results in the loss of two lives. crucial details unveiled
