Leading financial analysts and economic analysis firms such as Moody’s, SBI, and Fitch have projected lower growth for India, even the Economic Survey released on Friday estimates India’s growth between 6.3% and 6.8%. Amidst this what is it that Finance Minister Nirmala Sitharaman says and which path she embraces for the budget is what everyone is waiting for.
Currently, unemployment, low FDI, taxation, ease of doing business are the major issues that industry is talking about. In fact The Economic Survey has recommended the government to focus on deregulation.
In a final episode of ETBFSI and ETCFO Budget series which will be live on the budget day, we will bringing to you a panel of seasoned experts, shortly after the budget is announced by the finance minister in the parliament. The session will analyse and discuss key announcements and will take place after the budget, from 3 to 4 PM on February 1.
The session
The panel discussion will feature prominent speakers including Tapan Singhel, MD & CEO of Bajaj Allianz general insurance; Sneha Oberoi, CFO of Suzuki motor private India; Indranil Pan, chief economist of YES BANK; Umesh Revankar, Executive Vice Chairman of Shriram Finance, Krishnan Sitaraman, senior director and chief ratings officer of CRISIL ratings.
Insurers expect proposed amendments to the Insurance Act, 1938, including increase in foreign direct investment (FDI) in insurance to 100% and changes to NPS (National Pension Scheme).
Insurance CEOs’ Wishlist from Budget 2025: Life insurers seek separate tax deductions and annuity tax relief, while health insurers urge higher Section 80D limits and lower GST to improve affordability. General insurers call for tax incentives on home and motor insurance, digital infrastructure investments, and GST rationalisation. Pension reforms and retirement security also remain key priorities.
Lenders are looking forward to schemes for deposit growth, MSME lending, and higher capital spending to boost growth. With the capital expenditure outlay for FY 2024-25 rising by 11.1% to ₹11.1 lakh crore, they anticipate a positive impact on economic expansion. CFOs expectations are particularly centred around potential tax reforms, with changes that support ease of doing business (EODB) and simplification in GST procedures. Businesses cannot obtain input tax credits, create invoices, or sell goods without GST registration. For small businesses, delays mean lost revenue and missed tax benefits, making it a critical challenge.
From James Wilson presenting the first budget of India in 1860 to Nirmala Sitharaman who presented a digital budget in 2021, with Union Budget 2025 being her eighth. Here is a breakdown of India’s Union Budget shapes government spending, borrowing, and revenue generation. This guide explains key concepts, including fiscal deficit, FRBM Act, revenue vs capital expenditure, tax and non-tax revenue, the Finance Bill, and the Economic Survey.
Whether these expectations materialise relies on the announcements today. Join our discussion for an in-depth insight and analysis on what key players from the industry anticipate from Union Budget 2025.
ETBFSI & ETCFO will be live from 3 PM to 4 PM, bringing you expert insights and real-time analysis. Click here to watch the live stream on LinkedIn, Facebook, ETBFSI’s YouTube and ETCFO’s YouTube channel.
