Budget 2025: Finance Minister Nirmala Sitharaman will present the budget for the eighth time on February 1. The session will begin on January 31, with President Draupadi Murmu’s address at the joint meeting of Lok Sabha and Rajya Sabha. Union Minister Rijiju informed through a post on X that President Draupadi Murmu will address the joint sitting of both Houses in the Lok Sabha on January 31 at 11 a.m.
While posting, he wrote, “The Hon’ble President of India, Smt Droupadi Murmu ji, on the recommendation of the Government of India, has approved summoning both Houses of Parliament for the Budget Session 2025 from January 31, 2025, to April 4, 2025 (subject to exigencies of parliamentary business). The Hon’ble President will address the joint sitting of both Houses on January 31, 2025, at 1100 Hrs in the Lok Sabha Chamber.
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The general public’s eyes are fixed on the government’s changes during this budget. According to reports, the central government will introduce a new bill for direct tax law this time. The government is trying to simplify the subject through this new bill and improve its complex language so that the commoner does not have many difficulties reading and understanding it.
Will the government also take the opinion of the general public?
If the news is believed, public comments will be taken after the officials’ work is completed. The government is currently facing criticism due to its problematic tax law. The new law will be prepared based on the opinions of taxpayers and experts.
The government is trying to present this new bill in the budget. Officials of the Prime Minister’s Office and officials associated with the Finance Ministry have worked continuously for the last 6 to 8 weeks. So that this bill can be presented during the budget, it is said that Union Finance Minister Nirmala Sitharaman can decide to mention it in her budget speech. However, it has not yet been decided whether the bill will be presented in the first or second half.
What significant changes will be made?
The general budget for 2025 is very special for the middle classes now. There is a possibility of a change in the tax regime. Discussion has started on steps to provide tax relief to the middle class in the budget. Individuals can also get exemptions under the new tax regime.
Along with this, consideration is also given to making corporate tax easier. TDS can also be made easier. A 30 per cent tax is levied on annual income of more than Rs 15 lakh. There is a possibility that the government may change the tax slab to give relief to the people.