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An analysis by Economic Laws Practice, Taxand India
The Indian Government has recently released its Union Budget for 2025-2026, aiming to boost consumption and the economy by providing relief to 90 million individuals, exempting those earning less than INR 1.2 million from income tax.
With inputs from their tax, regulatory, international trade, corporate, banking & finance, infrastructure, capital markets and real estate teams, our Indian member firm Economic Laws Practice has covered some of the key tax and regulatory aspects announced in the budget.
The budget focuses on four key areas: agriculture, MSMEs, investments, and exports, with initiatives like enhanced credit for farmers, a new fund for start-ups, infrastructure investments, and support for MSME exports. It also introduces reforms in taxation, power, urban development, mining, financial sectors, and regulations. Notably, GST laws have been amended retrospectively to deny certain credits, while an overhaul of income tax laws is expected soon. The government also aims to realise the vision of ‘Viksit Bharat’ (Advanced India) by 2047.
You can read the full detailed analysis here.
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