With Budget 2025 around the corner, anticipation is high among taxpayers and financial experts regarding reforms that could ease financial pressures and bolster the economy. In an exclusive interview with Neeraj Tiwari, Senior Journalist at Marksmen Daily, prominent finance influencer Neha Nagar outlined her expectations, shedding light on measures that could reshape India’s economic landscape.
Neha emphasised the need for tax relief for middle-class households, suggesting an increase in the income tax exemption limit to ₹5 lakh and a full rebate for incomes up to ₹10 lakh. “This move would empower middle-class families, allowing them to save more and better manage their finances,” she said. Such measures, she noted, could significantly boost consumer spending, and align with the government’s vision of enhancing disposable income.
She also called for revisions in tax-saving avenues, particularly under Section 80C of the Income Tax Act. “The current limit of ₹1.5 lakh should be increased to ₹2.5 lakh to encourage investments in instruments like PPF, LIC policies, and other savings schemes. Additionally, raising home loan interest deductions to ₹3 lakh would provide much-needed relief to homeowners while stimulating the real estate sector,” Neha explained.
Discussing long-term investment taxes, she recommended raising the Long-Term Capital Gains (LTCG) exemption limit to ₹2.5 lakh, making investments more rewarding. Neha also highlighted the importance of simplifying tax compliance for Non-Resident Indians (NRIs), particularly easing Tax Deducted at Source (TDS) rules, to encourage global participation in India’s growth story.
For salaried individuals, Neha suggested reducing the tax burden by lowering rates and simplifying the structure. “These changes could relieve financial pressure on millions and invigorate economic activity,” she remarked.
Neha further advocated for measures to promote manufacturing and job creation, suggesting the extension of the 15% concessional tax rate for new manufacturing units. “This step would catalyse industrial growth and create employment opportunities, which are vital for India’s economic momentum,” she stated.
Recognizing the critical role of start-ups in economic development, Neha stressed the importance of continued government support. “Start-ups are the backbone of innovation and job creation. Extending tax benefits and financial incentives for start-ups would encourage new ideas, strengthen businesses, and enhance India’s global competitiveness,” she added.
In closing, Neha expressed optimism about Budget 2025, hoping it would strike a balance between individual needs and national priorities. “Let’s hope this budget makes life easier for everyone while driving sustainable economic growth,” she concluded.
As the nation awaits the Union Budget, Neha Nagar’s insights reflect the aspirations of millions of Indians looking for reforms that prioritize growth, innovation, and financial stability.
