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Budget 2025: PLI schemes, duty overhaul and business reforms take centre stage

Boosting manufacturing, rationalising duties and enabling ease of business mark are likely to be the focus of Budget 2025
The article from Firstpost discusses the anticipated focus areas for India's Union Budget 2025, which is set to be presented in July. Key highlights include the potential expansion of Production-Linked Incentive (PLI) schemes to boost manufacturing in sectors like textiles, pharmaceuticals, and automobiles, aiming to enhance India's global competitiveness. There's also an expectation of a significant overhaul in customs and excise duties to simplify the tax structure, reduce compliance burdens, and promote ease of doing business. Additionally, the budget might introduce reforms to streamline business operations, including labor law reforms, easier land acquisition processes, and improvements in the insolvency and bankruptcy framework. These measures are intended to foster a more conducive environment for both domestic and foreign investments, supporting India's ambition to become a manufacturing powerhouse and a $5 trillion economy.

Read the Full Firstpost Article at:
[ https://www.firstpost.com/business/budget-2025-pli-schemes-duty-overhaul-and-business-reforms-take-centre-stage-13855234.html ]