Union Budget 2025 Live Updates: Expectations, Taxation, Reshuffle in Finance Ministry, RBI’s Portfolio Rejig

January 16, 2025 04:50 PM
Union Budget 2025 Live Updates: Angel One’s Coverage Begins

Welcome to Angel One’s everyday developments on the economy, stock market, and taxation ahead of Union Budget 2025. Get insights on the latest events and expectations right here.

January 16, 2025 04:50 PM
Union Budget 2025 Live: When FM Nirmala Sitharaman Will Present This Year’s Budget?

Finance Minister Nirmala Sitharaman is all set to present her 8th consecutive Union Budget on Saturday, February 1, 2025, at 11:00 AM in Parliament. However, the central government has yet to officially confirm the date and time.

January 16, 2025 04:50 PM
Budget 2025 Live: Stock Market NSE, BSE Will Be Open on Saturday, February 1 for Union Budget 2025

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have confirmed that stock markets will remain open on Saturday, February 1, 2025, during the presentation of the Union Budget for the fiscal year 2025-26 by Finance Minister Nirmala Sitharaman.

Trading will be conducted as usual, from 9:15 AM to 3:30 PM. This follows the precedent set in previous years, including February 1, 2020, and February 28, 2015, when the Union Budget was presented on a Saturday.

January 16, 2025 04:50 PM
Union Budget 2025 Live Update: India Proposes PLI Scheme for Electronics Components

India is gearing up to strengthen its electronics manufacturing sector with a Production Linked Incentive (PLI) scheme worth ₹25,000 crore, aimed at boosting domestic production of key electronic components.

As per news reports, the Finance Ministry has already approved the proposal, and the Ministry of Electronics and Information Technology (MeitY) is set to seek Cabinet approval ahead of its announcement in the Union Budget 2025.

The PLI scheme, which targets the manufacturing of components such as printed circuit boards (PCBs), batteries, camera modules, and display units, is expected to significantly enhance India’s electronics ecosystem.

Read the full story here.

January 16, 2025 04:50 PM
Union Budget 2025 Live: AMFI’s 15-Point Tax Proposal to Drive Mutual Fund Investments

The Association of Mutual Funds in India (AMFI) has outlined a 15-point proposal ahead of Union Budget 2025-26 to encourage mutual fund investments and enhance investor confidence.

As part of the proposal, AMFI has called for tax reforms including restoring indexation benefits for debt funds, revising capital gains tax rates, and launching new pension-oriented schemes. The aim is to create a more attractive tax environment and provide long-term benefits to investors.

Key recommendations include recognising Fund of Funds as equity-oriented schemes, allowing pension schemes with NPS-like benefits, and introducing debt-linked savings plans to incentivise investments in high-rated bonds.

Read the full story here.

January 16, 2025 04:50 PM
Union Budget 2025 Live Update: Government Announces Major Reshuffle in Ministry of Finance

In a key development ahead of the Union Budget 2025-26, the government has made strategic changes within the Ministry of Finance, including new appointments to strengthen the leadership team. The reshuffle is aimed at enhancing the ministry’s capacity to handle complex fiscal policies and reforms for the upcoming budget.

This reshuffle comes at a critical juncture, with the Union Budget 2025-26 on the horizon. It signals the government’s commitment to having experienced leadership in place to navigate fiscal challenges and implement key reforms that will shape India’s economic future.

Tuhin Kanta Pandey has been appointed as Secretary of the Department of Revenue while continuing his role as Finance Secretary. Arunish Chawla has been appointed Secretary of the Department of Investment and Public Asset Management (DIPAM), and will also oversee the Department of Public Enterprises (DPE) and Ministry of Culture.

Read the full story here.

January 16, 2025 04:50 PM
Union Budget 2025 Live: Evolution of Income Tax in India Under FM Nirmala Sitharaman

In the past 4 years, Finance Minister Nirmala Sitharaman has rolled out transformative reforms to make India’s income tax system simpler and more efficient. The new tax regime, introduced with significant relief, offered tax exemptions for salaried individuals earning up to ₹7.75 lakh for salaried.

Beyond income tax, Sitharaman’s reforms have also boosted the National Pension System (NPS), with private-sector employees who were able to claim up to 14% of their basic salary as a deduction, making long-term savings more attractive. The Tax Collection at Source (TCS) mechanism was modernised, simplifying the tax calculation process for employees.

Read the full story here.

January 16, 2025 04:50 PM
Union Budget 2025 Live: RBI Reshuffles Deputy Governors’ Portfolios

The Reserve Bank of India (RBI) announced a reshuffle of portfolios among its deputy governors following the retirement of Dr. Michael Debabrata Patra, its senior-most deputy governor. The key Monetary Policy Department has been handed over to M Rajeshwar Rao, the senior-most deputy governor.

The reshuffle has impacted 33 departments, which have now been distributed among the three deputy governors—Rao, T Rabi Sankar, and Swaminathan Janakiraman. As part of the rejig, Rabi Sankar will manage 13 departments, including Currency Management, Information Technology, Financial Markets Operations, and Financial Markets Regulation.

Meanwhile, Swaminathan Janakiraman will take charge of nine departments, including Supervision and the Deposit Insurance and Credit Guarantee Corporation.

January 16, 2025 04:50 PM
Union Budget 2025 Live: NAREDCO Proposes Hike in Housing Loan Interest Deduction

The National Real Estate Development Council has proposed significant reforms ahead of the Union Budget 2025, focusing on the housing sector. NAREDCO has called for an increase in the housing loan interest deduction limit from ₹2 lakh to ₹5 lakh to boost affordable housing.

Additionally, NAREDCO is advocating for granting infrastructure status to the housing sector, which would help attract more funds and foster growth in affordable housing, urban development, and road infrastructure. NAREDCO’s Chairman, Niranjan Hiranandani, expressed concerns about the stagnation in the affordable housing sector, marking the first decline in growth during his 40-year career.

Read the full story here.