How Union Budget 2025 will impact the common man
The Union Budget has a significant impact on the daily life of the common man, influencing everything from income to expenses. Much like a household budget, the government’s Budget focuses on the allocation of resources to sectors that can stimulate economic growth and create employment opportunities.
One of the most direct impacts on the common man comes from changes in taxes, both direct and indirect. For instance, a reduction in income tax rates would increase disposable income, giving people the freedom to either save or spend more. On the other hand, an increase in Goods and Services Tax (GST) rates on certain products could lead to higher costs for essential goods, directly affecting household expenses.
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Additionally, the Budget often includes new or revised welfare schemes aimed at supporting vulnerable sections of society, whether through healthcare, education, or subsidies. These welfare measures help address economic inequality and create a more inclusive growth model.
Before the formal presentation, Finance Minister Sitharaman is expected to hold consultations with industry stakeholders and state finance ministers. These discussions help shape the Budget’s priorities and ensure that it reflects the concerns and aspirations of both businesses and the general public.
With Union Budget 2025, the government is expected to outline strategic initiatives to boost the economy, improve public welfare, and promote long-term stability and growth. The budget will be a critical document for all citizens, as it will determine the economic direction for the year ahead.
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