Budget 2025: What will be the impact of Union Budget on common people?

Union Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1. A lot of expectations have already been created regarding the budget. The Union Budget also impacts the income and expenditure of the common man. People are expecting many changes including income tax. There is also scope for making policies to promote consumption in the budget. The budget is also likely to include schemes to reduce the cost of living for the common man.

Budget can affect the income of common people, price level of goods and services. There will be significant changes in prices with different tariffs and subsidies. It affects spending patterns and standard of living. People expect that he will present an attractive budget. Let us see how the Union Budget affects the income of the common man.

taxes

The taxes passed in the budget, especially Income Tax or Goods Tax (GST), have a direct impact on the common man. If taxes are reduced then money in hand will increase. Cost of living will reduce. This will increase people’s income. If taxes are increased, the income of the common man will decrease and expenses will increase.

plans

Various schemes like social security schemes, employment guarantee, agricultural assistance in the budget will increase the income of the common man if they become profitable. Some types of financial assistance, people can get direct financial assistance through various Aadhaar linked payments.

investment policies

The common man will benefit from the government’s health protection schemes and improvements in hospital services. Students can get high income opportunities through scholarships, grants etc. If many investments and policies are promoted through the budget, the income of common people will increase and people will benefit. The budget will improve the income situation of agricultural laborers and small industries through investment, financing and price inflation control measures in the agricultural sector.

employment opportunities

The changes in the budget will help small businesses by increasing tax exemptions for startups. Industrial development, investment, construction projects and public sector works in the budget have a direct impact on people’s income by creating employment opportunities. Government investment and incentives to industry are useful in creating more employment opportunities.