Union Budget 2025 | Retail sector expects simplification of existing tax provisions: Ayush Jhawar, Founder and CEO, Genefied

Union Finance Minister Nirmala Sitharaman is set to present the Union Budget on February 1 in the Lok Sabha. The Economic Survey by the Finance Ministry will be released on January 31.

In this context, several industry leaders have opened up about their expectations from the Budget.

"The Union Budget 2025 is approaching and retailers hope to receive a positive push for the sector. These hopes stem from the anticipated move of the Finance Minister to boost customer confidence by putting more discretionary income in their hands. Further, simplifying the existing tax provisions and enhancing the ease of doing business are also among the key expectations of the sector. As the government is expected to renew its push on Capex, the retail industry is banking on the growth of infrastructure development to improve its cost efficiencies. Better connectivity will also aid the supply chains and help retailers boost their sales by covering unchartered territories. Summarily, the sector is looking forward to the upcoming budget and expects the government to boost the sector's growth by creating a favourable policy environment".

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.