01 February,2025 07:18 AM IST | Mumbai | Team mid-day
Union Finance Minister Nirmala Sitharaman during the joint sitting of both Houses of Parliament addressed by President Droupadi Murmu marking the start of the Budget session. Pic/PTI
The national Budget will be tabled on Saturday, and mid-day caught up with various stakeholders, market leaders, and citizens to learn about their expectations from the budget, which will be presented by Finance Minister Nirmala Sitharaman. This will be Sitharaman's eighth budget presentation in parliament. She has presented six annual budgets and one interim budget under the NDA government's consecutive terms in power. The budget is expected to include major changes in income tax slabs under the new tax regime.
As Finance Minister Nirmala Sitharaman gears up to present the budget, stakeholders from various sectors share their wishlists for economic growth and policy changes. Representation pic/istock
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Shailesh Goyal, former member of the National Railway Users Consultative Committee
"We are expecting proper and continued funding for the Mumbai Urban Transport Projects to sustain ongoing endeavours. Last year's funding was adequate and took the projects to a crucial stage. This year, it is essential that these projects continue unhindered to maintain momentum."
Ashok Datar, transport expert
"Taxes on private cars should be increased and redistributed to buses to encourage a fairer tax structure - higher for private vehicles and lower for public transport. This long-overdue correction is crucial. We talk about promoting public transport, yet we end up taxing buses more than cars. While vehicle taxation falls under state jurisdiction, a central policy intervention is necessary to address this disparity."
Ministry of Civil Aviation analyst
The analyst said, "The Bharatiya Vayuyan Vidheyak, 2024 (BVV), which replaces the Aircraft Act, 1934 has been approved by Parliament. The BVV now includes crucial aspects of aircraft regulation, such as design, manufacturing and maintenance while eliminating inconsistencies in the previous law. A uniform 5 per cent IGST, reduced from 18 per cent, has also been applied to imports of aircraft parts, components, and tooling, providing a major boost to the MRO sector."
The analyst added: "Indian airlines have placed a record order for over 1600 aircraft, and India is projected to become the world's third-largest aviation market by 2026. The large order book for widebody aircraft by Air India and IndiGo will also significantly increase the country's cargo capacity in the coming years."
Another analyst said, "Airport infrastructure is struggling to keep up with rising passenger volumes, leading to congestion. The government aims to have 200 operational airports by 2025, with an investment of over Rs 92,000 crore in greenfield and brownfield projects. This is a welcome move, but swift execution is critical. Policies that ensure smooth land transitions for developers while addressing environmental concerns will be key. Relief in aviation fuel taxes may also be expected."
Mahesh Padaya, self-employed
"The Union government should consider every income tax payer. There is a need to increase tax slabs and reduce GST on various products. The government must also recognise the struggles of first-generation middle-class entrepreneurs like me. Many businesses are suffering due to GST, and their concerns should be addressed."
Sailesh Mishra, founder and president of Silver Inning, a senior citizen association
"We have paid taxes all our lives, and now the government sho-uld think ab-out us. The 18 per cent Goods and Services Tax (GST) on senior citizens' health insurance and elderly care services like nursing and accommodation should be removed. Additionally, mental illness should be covered under the Ayushman Bharat scheme, which currently lacks secure provisions for such illnesses. In 2020, the Union government discontinued railway concessions for senior citizens, and it is high time they were restored. Last year, we received nothing as per our expectations."
Rushikesh Chavan, head of The Habitats Trust
"India's economic growth must align with sustainability. Budgetary allocations for climate resilience, technological research, and regenerative development models are critical. Funds should also be allocated for mitigating the environmental impact of infrastructure projects."
Kedar Gore, wildlife conservationist, The Corbett Foundation
"The budget for wildlife and environmental protection should be increased by at least 100 per cent. The Ministry of Environment, Forest and Climate Change (MoEFCC) plays a vital role in safeguarding India's natural capital and must receive funding on par with infrastructure ministries. Additional financial support is needed for wildlife conservation, habitat restoration, and upgrading forest department resources, including better salaries and benefits for frontline forest personnel. Timely fund disbursement to state governments is also crucial."
Vikram Sankaranarayanan, executive director, Policy Advocacy Research Centre
"A special budgetary provision should be made for wildlife sanctuaries to procure third-party research services, integrating this into the operational framework of each state's wildlife department."
Manoj Bansal, Partner, Grant Thornton Bharat
"The budget will likely emphasise clean energy and green technology. Support for domestic carbon markets and incentives for private investments in climate solutions are anticipated. Green jobs - focused on sustainability and clean energy - should also be a priority."
Anuj Puri, Chairman, Anarock Group
"Nationally, rising property prices have led to a slowdown in luxury housing. This could be a turning point for the affordable housing segment. Any major budget announcement supporting affordable housing could provide the necessary boost to this sector. Even if such measures don't trigger a full-blown revival, they can improve its overall prospects. A healthy housing market should cater to a broad range of buyers instead of favouring just one segment."
Dr Prof Anand Achari, principal, VES College of Architecture
"The education sector hopes for continued focus on higher education, digital infrastructure, and rural connectivity. Over 60 per cent of India's rural population still lacks reliable internet access, limiting online education. Addressing this gap is crucial to prevent exclusion. Additionally, strengthening skill-based training and fostering industry-academia collaboration will better align curricula with job market demands. Faster implementation of the National Education Policy, 2020, and streamlining patent applications within educational institutions will also encourage research and innovation."
Dr Maithili Tambe, CEO, The Academy School Pune
"The government must bridge accessibility gaps in education. Increased scholarship funds for marginalised communities and sustainable allowances covering tuition, transportation, and digital resources are needed. Merit-based scholarships in STEM and the arts should be expanded to ensure financial constraints don't hinder students' ambitions."
Dr Ramakrishnan Raman, vice-chancellor, Symbiosis International University
"A visionary budget must prioritise increased financing for higher education through innovative financial mechanisms and investment avenues, ensuring long-term sustainability and accessibility."
Prajodh Rajan, co-founder and CEO of Lighthouse Learning
"Allocating 6 per cent of GDP to education is essential. Strengthening digital infrastructure in schools, expanding access to quality preschools, and investing in teacher training will prepare students for future challenges. A well-funded education sector will drive economic growth and societal progress."
Varun Satia, founder & CEO, Kraftshala
"The Union Budget 2025 must move beyond incremental measures and introduce transformative steps to bridge the gap between education, skilling, and employability. While last year's focus on employment-linked skilling schemes and financial support for education loans was promising, systemic change is needed. Strengthening the Model Skilling Loan Scheme and including targeted funding for industry-aligned, short-term certifications will help enhance employability in dynamic fields such as marketing, technology, and digital innovation."
