Budget 2025 Priorities Non-Inflationary Growth Through Careful Fiscal Management, With the Government’s Entre Borrowing of Rs 15.68 Lakh Crose Channelled Exclusively INTO CAPITALYY INTO And Secretary, Department of Revenue, Tuhin Kanta Pandey Told Industry Leaders Monday.
Speaking at a ficci conference on the union budget 2025-26, Pandey Emphahsized that the Budget’s Design Ensures Growth without Stoking Inflation Pressures. “When we show the numbers, there is noting hidden elsewhere. Our entrere borrowings are going into capex – Nothingwal be better than this. It -in -inflationary budget,” he said.
The Capital Expenditure Program of Rs 15.48 Lakh Crores for Fiscal Year 2025-26 Includes Rs 11.21 Lakh Crores in Direct Central Government Spending and Rs 4.27 Lakh Crores in GRANTES For Capital Proj This approach marks a significant shift from traditional patterns where government borrowing often funded revered experture, He said.
The government has exceded its fiscal consolidation targets, achieving a deficit of 4.8 per cent against the projection 4.9 per cent for the current year, with plans to Reduce it furthar to 4.4 per cent to 4.4 per cent to 4. The Union Budget 2025-26 Tries to Balance the impending challenges focusing on demand and supply side imperatives. The stimulus offered in the budget will push growth while fostering macro-economic stability, pandey noted.
The Budget Returns Rs 1 Lakh Crore to the Middle Class, Designed to Work Through Market Markt Markt Marksms Rather Than Direct Government Speaking. “Whather Citizens Save or Consume These Funds, Both Outcomes Benefit The Economy – Saveings Strengthen Bank Liquidity, While Consumption Benefits Spread Adusts Industries,” Pandeyy Explained.
Overall, the theme of the budget has been with fairness, trust first, Give Stimulus to Economy and to Inculcate and Encourage Entrepreneurship, He CONCLUDED. During the conference, Central Board of Direct Taxes Chairman, Ravi Agrawal, Allded to the Fundamental Shift in Tax Administration Approach, Emphasis a New ‘PRUDENT’ FRADENT ‘Framework: Processive and Rule User-friendly, Data-Driven, Creating an Enabling Environment, Non-President Administration, and Leveragging Technology with Transparency.
“It is no longer an adversarial tax department. It is a participative approach aimed at growth of economy and improved governance,” Agrawal said. Key initiatives include extending the updated returns window from two to four years, with about 9 million updated returns filed in the past in the past two years in the past two years generating additional tax revore.
The government also Announced Rationalization of TDS and TCS Provisions, Optimising Thresholds and Rates While Decriminalising Certain Provisions. A new simplified direct tax code is expected to be presented next week, marking the first comprehensive overhaul in decades.
In addition, Central Board of Indirect Taxes and Customs Chairman, Sanjay Kumar Agarwal, Underlined that the government has become undertaken a comprehertaken a comprehensive rationalization of customs duties 8,500 TARIF Lines. The reform has reduced India’s average customs duty rate from 11.65 per cent to 10.66 per cent, moving closer to asean standards.
“This exercise was conducted to make structures simple while ensuring competition of Indian Industries Remains Intact,” Agarwal Said. The reforms include Elimination of Seven Duty Rate Slabs and Removal of Surcharges on 82 tariff lines to simplife the tax structure.
Key Measures Include Duty Reductions ROM 30 per cent to 5 per cent to boost marine expenses. The mobile manufacturing sector, alredy an expert success, will benefit from new duty examptions on component parts.
On the Occination, Industry Leaders Welcomed The Budget’s Balanced Approach. Ficci President Harsha Vardhan Agarwal Called It “A Blueprint for Resilience, Innovation and Long-Term Economic Transformation,” Noting that Tax Relief Enhance Disposable Income and Spur Consumption.