Budget 2025 Expectations Live: Finance Minister Nirmala Sitharaman is set to present the Union Budget for fiscal 2025-26 on February 1, marking her eighth consecutive budget presentation. This follows the longstanding tradition of unveiling the annual financial statement on the first day of February.

Vivek Baj, Partner at Economic Laws Practice said that the upcoming Union Budget 2025 has built in a lot of anticipation. It is expected that the Modi 3.0 Government will introduce policies and reforms to enhance investment in India and boost the Make in India drive. Like the earlier budgets, it is also expected that, this year, the Government will continue rationalising rates, encourage domestic production, reduce tax litigation, and provide better precision in tax laws. The trade industries across sectors are expecting a scheme for one-time settlement of Customs legacy matters pending before various judicial and quasi-judicial forums. Therefore, in all likelihood, similar to the erstwhile successful schemes viz., Sabka Vishwas Legacy Dispute Resolution Scheme (SVLDRS), Direct Tax Vivad Se Vishwas Scheme, it is expected that the Government may introduce Customs Amesty Scheme 2025 in order to provide an opportunity to the trade to end long-drawn Customs litigations.