Union Finance Minister Nirmala Sitharaman is going to present the budget today, on 1 February 2025. The general public is expecting many relief decisions from this budget. Especially big announcements can be made regarding smartphones and other electronic items. The government can cut the import duty, which will bring down the prices of mobile phones and other electronics products.
Budget 2025: Will electronic devices like smartphones be cheaper?
Phone manufacturing companies had already demanded the government to reduce the import duty. If this demand is accepted, then the prices of electronics products like smartphones, laptops and smart TVs can come down. The Indian Cellular and Electronics Association had also appealed to consider this. The telecom sector has also demanded a cut in import duty and license fees from the government, which can make internet and mobile services cheaper.
Will affordable houses be announced?
The government can also make a big announcement regarding affordable housing. There may be a proposal to increase the limit of buying a house in metro cities from Rs 45 lakh to Rs 70 lakh, while for smaller cities this limit can be Rs 50 lakh. Apart from this, there is a possibility of increasing the tax exemption on home loan from Rs 2 lakh to Rs 5 lakh, which will make buying a house cheaper and easier.
Budget 2025: Ayushman Bharat Yojana, Atal Pension Yojana can be expanded
Some important decisions can also be taken in the health sector. Ayushman Bharat Yojana can be expanded, so that more people can get its benefits. Also, there may be a proposal to increase the pension amount of Atal Pension Yojana, which will provide financial security to senior citizens. The government is also considering setting up an International Mobility Authority, which will give more opportunities to people to get jobs abroad.
Budget 2025: New startups may get tax exemption
There may also be some special announcements to promote startups and employment. New startups may get tax exemptions and skill development programs may be started for the youth, which can provide them better employment opportunities. Overall, this budget can prove to be important for the general public, the technology sector and employment opportunities.