Budget 2025 is expected to bring major changes, including lower taxes for those earning up to Rs 10 lakh annually, a push for affordable electric vehicles, and a fivefold increase in the minimum EPFO pension to Rs 5,000. With trade unions demanding an 8th Pay Commission and higher taxes on the super-rich, the budget aims to address economic slowdown and boost household savings.
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NEW DELHI: As the Union Budget 2025 approaches, people from various sectors are sharing their expectations about what changes and benefits it might bring. Policymakers are considering making changes to the new tax system to reduce income tax for individuals earning up to Rs 10 lakh per year.
Many believe that these changes could help increase people’s take-home income and allow households to save more money.
The Budget comes at a time when the economy is slowing down, so people are hoping for steps that will boost their financial situation. In discussions with the Finance Minister Nirmala Sitharaman, representatives from trade unions suggested some big changes.
They asked for the minimum EPFO (Employees’ Provident Fund Organization) pension to be raised five times to Rs 5,000 per month. They also demanded the immediate creation of the 8th Pay Commission and suggested higher taxes for the super-rich.
On another front, the commerce ministry has pointed out the need to make electric vehicles (EVs) more affordable and efficient.
They are hoping that Budget 2025 will include policies to address these issues and encourage the use of EVs across the country.
These are just some of the expectations and demands from different groups.
As Budget Day approaches, people across the country are watching closely to see how these suggestions will be considered and implemented.
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