India's Budget 2025: Major Reforms in Tax, Pensions, and Infrastructure to Drive Economic Growth

The upcoming budget is expected to be one filled with both challenges and high expectations. Key areas that may see significant changes include income tax, where sources suggest potential adjustments to tax slabs, particularly in the 20% and 30% brackets. There is also anticipation that the standard deduction could increase from ₹75,000 to ₹1 lakh, providing relief to taxpayers. However, direct relief in corporate tax is unlikely. Other potential announcements include an increase in the minimum pension under EPS (Employees' Pension Scheme), potentially reaching ₹5,000. The budget may also focus on infrastructure development, with increased spending on railways, airports, and ports. To stimulate economic growth, the government might introduce measures to boost consumption by putting more money into the hands of the common people, which could drive demand and help revive the economy. Additionally, the government may announce plans for 100 Amrit Bharat trains and more Vande Bharat trains, which would significantly impact the transportation sector. Overall, this budget is seen as a crucial step toward achieving a developed India by 2047.