Budget 2025 Expectations Highlights: Income tax changes on the cards? All eyes on FM Nirmala Sitharaman's Union Budget

Budget 2025 expectations live: Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1, 2025. The Parliament's Budget session will commence on January 31, 2025. Like every year, all eyes are on the Narendra Modi government to provide some income tax relief to the salaried middle class and the common man, especially given the rising cost of living and the economic slowdown. Economists and analysts are of the view that FM Sitharaman should look to provide a consumption stimulus to the economy, at a time when GDP growth has slowed down to a several quarter low. Given the need to stick to the fiscal deficit target and the fiscal glide path, any major expansion in the capital expenditure of the government on roads, highways and railways is unlikely. A relief on the income tax front, especially under the new income tax regime for salary brackets up to Rs 15-20 lakh is being advocated by experts to give the necessary purchasing power in the hands of the salaried taxpayers to boost consumption.Track TOI’s Budget 2025 expectations live coverage for the latest on what FM Nirmala Sitharaman may announce in her Budget 2025 speech: