Photograph of various diabetic tools and medicine.
Credit: iStock
Finance Minister Nirmala Sitharaman will present the 8th consecutive Union Budget on February 1, 2025. Reports suggest that the government is mulling over cutting income tax for those who are earning up to Rs 15 lakh a year in February's budget, in turn providing relief to the middle class.
Taxpayers have pinned high hopes on the Union Budget FY 2025-26 documents and are keeping their fingers crossed regarding their expectations from the government's most important financial document of the year.
Here's what Saumyajit Roy, fo-Founder & CEO, Emoha has to say--
"As we anticipate the forthcoming budget, we are hopeful for continued and expanded support for our elderly population. Government initiatives such as the Pradhan Mantri Vaya Vandana Yojana have been pivotal in providing financial security to senior citizens, with the scheme offering an assured return of 8% per annum.
However, there is a pressing need for greater investment in healthcare, particularly geriatric care and mental health support, to meet the growing demands of our aging population. As highlighted by NITI Aayog’s recent position paper, the elderly population in India is set to grow significantly, with projections indicating that by 2050, seniors will comprise nearly 20% of the population.
This shift necessitates a more comprehensive, integrated policy for senior care, especially for those living in rural areas where healthcare access remains limited.
Additionally, with nearly 75 per cent of elderly individuals suffering from chronic diseases and 20 per cent facing mental health issues, the budget should focus on strengthening healthcare infrastructure and expanding tele-consultation services. We positively look forward to policies that not only address the financial and healthcare needs of seniors but also foster their social inclusion, recreation, and active participation in society, aligning with the global movement towards healthy aging."
Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.