Union Budget 2025 | Expect rationalisation of GST rates for natural wellness products to 12%, says Amocare co-founder Prabhat Maheshwari

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.

The healthcare sector 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.

"The Indian wellness industry currently holds a projected value of over $72 billion for 2025. It has witnessed remarkable growth in India, with CAGR of 28 per cent by 2025. Our organizational focus aligns with the government's emphasis on women's health and preventive healthcare, as demonstrated by previous initiatives like the National Health Mission which allocated Rs 36,000 crore for women-centric healthcare programmes.

Key expectations include rationalization of GST rates for natural wellness products from the current 18 per cent to a proposed 12 per cent which would enhance accessibility for middle-class consumers.

Additionally, increased allocation for R&D in natural sciences and preventive healthcare could accelerate innovation in plant-based wellness solutions. 

With one third of Indian women reportedly experiencing lifestyle-related health concerns, we anticipate policy support for natural healthcare products, particularly those focused on women's wellness, will help expand the market reach while maintaining quality and affordability." said Prabhat Maheshwari, Co-Founder and Director, Amocare.

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.