India's domestic demand is expected to remain resilient, supported by the personal income tax concessions announced in the 2025 Union budget and the repo rate cut initiated by the Reserve Bank of India, S&P Global Market Intelligence said in a note.
Pakistan's Ministry of Industries and Production had recommended the tax relief to boost EV adoption. However, the global lender opposed the decision and stressed that sales tax on raw materials for EVs should not be removed.
Thakur emphasised that the Modi government has fulfilled its commitments over the last decade, lifting 25 crore Indians out of multidimensional poverty.
The tax relief announced in the Union Budget will act as a catalyst for the quick service restaurant (QSR) businesses in India, which has seen the beginning of a cyclical upturn in the October-December quarter, multinational investment banking company Goldman Sachs said.
Keeping people earning up to Rs 12 lakh annually out of the income tax ambit has triggered a debate that the government has shifted focus to boosting consumption after the two consecutive quarter GDP figures showed tepid growth.
Income tax relief provided for in the Budget coupled with RBI repo rate cut put together will boost recovery in consumption in the economy, asserted Finance Minister Nirmala Sitharaman.
Delhi NCR [India], February 6: The Union Budget 2025 has set the stage for sustained economic momentum, with significant allocations for infrastructure, tax reforms, and urban transformation. For the real estate sector, it brings both opportunities and areas for further contemplation. While
Multinational investment banking company Goldman Sachs said that the mega tax relief provided for in Budget 2025 will help the urban consumers boost their net household financial savings, besides partly boosting their consumption.
New Delhi [India], February 3: Startup Policy Forum (SPF) members - leading startup founders and CEOs across sectors - have unanimously lauded the budget as a "game-changing catalyst" for the Indian economy and ecosystem, calling it a transformative moment that spurs innovation, fuels consum
"I welcome the budget presented by Finance Minister Nirmala Sitharaman. I welcome all the proposals, especially the income tax exemption for those earning up to Rs 12 lakh. This is a huge relief to the middle and lower-middle class, and I thank her for this," Sarma said.
Tax experts, industry observers, and banking leaders have lauded the Union Budget 2025-26 for its focus on economic growth, tax relief, and innovation across sectors.