Budget 2025: Paving the Path for India's Economic Surge

The Union Budget 2025-26 is poised to focus on fiscal consolidation, tax simplification, and investment growth to ensure India's economic development. Ernst & Young India emphasizes enhancing public expenditure and private sector investment to foster innovation, while simplifying tax compliance for SMEs to achieve sustainable growth targets.

In anticipation of the Union Budget 2025-26, Ernst & Young India has underscored the significance of fiscal consolidation, tax system simplification, and investment-driven growth. These elements are deemed crucial for laying a robust foundation for India's sustained economic development.

Ernst & Young India advises that key priorities should include enhancing public expenditure, curtailing the fiscal deficit, and incentivizing private sector investment through targeted tax reforms to stimulate business innovation. National Tax Leader Sameer Gupta emphasized the need to accelerate and execute announced policies.

As the government gears up for Finance Minister Nirmala Sitharaman's eighth budget, all eyes remain on potential announcements set to guide economic policy for Modi 3.0's remaining tenure. Pre-budget consultations with experts have already commenced, signaling readiness for the annual financial exercise.

(With inputs from agencies.)