Budget 2025 - Latest News Update, Information, Photos & Videos on Budget 2025 at Lokmat Times

Labour organisations made a big announcement regarding the Union Budget 2025-26 Budget on Monday, December 6. The Congress demanded five times the minimum pension under the EPFO, immediate formation of the Eighth Pay Commission and higher taxes on the super-rich. In his traditional meeting with Finance Minister Nirmala Sitharaman, the Congress demanded that the government should increase the minimum pension under the EPFO, immediately constitute the Eighth Pay Commission and impose higher taxes on the super rich Budget. In the pre-meeting, the leaders of the labor organisations also demanded to increase the income tax exemption limit to Rs 10 lakh per annum, bring a social security scheme for temporary workers and restore the old pension scheme (OPS) for government employees. Sitharaman will present the budget for the financial year 2025-26 on February 1. In this sequence, she is holding discussions with representatives of various sectors.Speaking to reporters after the meeting, Trade Union Co-ordination Centre (TUCC) national general secretary SP Tiwari said the government should halt the push to privatise public sector undertakings and impose an additional two per cent tax on the super-rich to raise social security funds for unorganised sector workers.Also Read | Union Budget 2025-26 should continue to prioritise job creation: CII.He demanded social security for the workers employed in agriculture sector and also fixed their minimum wages. Bharatiya Mazdoor Sangh's Organizing Secretary (Northern Region) Pawan Kumar said that the minimum pension payable under the Employees' Pension Scheme, 1995 (EPS-95) should first be increased from Rs 1,000 per month to Rs 5,000 per month and then VDA (variable dearness allowance) should also be added to it. He also suggested that the income tax exemption limit should be increased to Rs 10 lakh.Along with this, he also demanded that the government to exempt the income from a pension from tax. Kumar also said that the Eighth Pay Commission should be constituted immediately to revise the salary structure of government employees. Swadesh Dev Roy, National Secretary of the Trade Organisation Centre of Indian Trade Unions (CITU), supported this demand and said that more than 10 years have passed since the formation of the Seventh Pay Commission in February 2014. Dev Roy expressed concern over the huge decline in the number of permanent employees in the Central Public Sector Undertakings.Also Read | FM Sitharaman holds pre-budget consultation with representatives of trade unions.He said that in the 1980s, there were 21 lakh permanent employees in these undertakings but this number would come down to a little over eight lakh in 2023-24. Deepak Jaiswal, national president of the National Front of Indian Trade Union (NFITU), demanded separate budget allocation for the Employees Provident Fund (EPF) and Employees State Insurance Corporation (ESIC) to provide social security benefits to workers in the unorganised sector. Industries Expectations From Budget 2025-26Mapsko Group Director Rahul Singla:"We expect the Union Budget 2025 to address key challenges in the real estate sector, a crucial driver of economic growth and employment. Granting industry status to real estate would streamline access to funding and attract investments, bolstering the sector's growth. Measures like reducing GST on construction materials such as steel and cement can help curb rising costs for developers and buyers. A single-window clearance system is essential to eliminate project delays and cost escalations. To enhance liquidity, relaxed financing norms and credit support for stalled projects are critical to restoring buyer confidence. Incentives for green building initiatives can encourage sustainable practices, while investments in infrastructure across tier-2 and tier-3 cities can promote regional growth and improve housing access. These steps can transform the sector and fulfil aspirations for homeownership."Smartworld Developers CEO Vivek Singhal:“As the Union Budget 2025-26 approaches, the real estate sector remains hopeful for forward-looking reforms that can amplify growth and reinforce its role in India’s economic progression. Increasing the tax deduction limit for housing loan interest under Section 24(b) to ₹5 lakh would align with the rising aspirations of homebuyers while addressing evolving market conditions. Similarly, introducing a single-window clearance mechanism could streamline processes, expediting project approvals and enhancing operational efficiency.Granting 'industry status' to real estate is another vital step that would unlock greater access to institutional capital, stimulating growth across the entire value chain, including over 200 interdependent industries. The rationalization of GST rates and an optimized input tax credit framework for construction materials are equally crucial to mitigate costs and maintain the competitiveness of premium projects.We also encourage strategic incentives to boost investments in advanced infrastructure, laying the foundation for India’s transformation into a global hub for luxury living and modern urban development. These progressive measures, supported by the positive momentum from last year’s budget, would establish real estate as a cornerstone in achieving India’s vision of becoming a developed economy by 2047.”Kirthi Chilukuri, Founder & MD of Stonecraft Group:"From Budget 2025, we seek a balanced approach that benefits both developers and buyers. Recognizing real estate as an industry would unlock access to affordable funding, streamline approvals, and attract investments, driving economic growth. Easing the GST burden on developers and reviving the Credit Linked Subsidy Scheme (CLSS) for first-time homebuyers could stabilize property prices and boost the housing market. Revising the home loan interest deduction under Section 24(b) to ₹5 lakh and revisiting capital gains taxation would enhance liquidity across segments, benefiting all stakeholders. Prioritizing urban infrastructure investment and offering incentives for green building adoption can create sustainable, livable cities while aligning with national climate goals."

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Trump Tarrifs

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Budget 2025FOLLOW

Budget 2025, Latest News

National :Budget 2025: ‘No Foreign Spark Ahead of This Session’- PM Modi Takes Dig at Opposition (Watch Video)

New Delhi, Jan 31: Prime Minister Narendra Modi said on Friday that for the first time in 10 years, ... ...

Business :Budget 2025: Will the Indian Stock Market Be Open on February 1st?

With the Union Budget 2025 set to be presented in Parliament tomorrow, some investors on Dalal Street may be ... ...

National :Goddess Lakshmi Shower Poor, Middle Class With Blessings, Says PM Narendra Modi Ahead of Budget Session

Prime Minister Narendra Modi called to pray to Goddess Lakshmi on Friday to shower the poor and middle class ... ...

National :Budget 2025: What the Middle Class Can Expect in Terms of Essential Costs

With five days left until the presentation of the Budget for the 2025-26 financial year on February 1, all ... ...

National :Union Budget 2025-26 Expectations: Labour Demand Higher Minimum Pension, Eighth Pay Commission and Social Security in Pre-Budget Meet

Labour organisations made a big announcement regarding the Union Budget 2025-26 Budget on Monday, December 6. The Congress demanded five ... ...