Budget 2025: Pathway to India's Economic Revival

Ernst & Young India highlights the need for fiscal consolidation, simplified tax reforms, and heightened investment to drive India’s sustained economic growth as the nation prepares for the Union Budget 2025-26.

In anticipation of the Union Budget 2025-26, global consulting firm Ernst & Young India underscores the critical need for fiscal consolidation and tax simplification as foundational elements for India's economic advancement.

EY India's National Tax Leader, Sameer Gupta, emphasized the importance of accelerating existing reforms while introducing strategic measures aimed at amplifying public expenditure, diminishing the fiscal deficit, and incentivizing private investments.

Simplifying tax compliance for small and medium enterprises is crucial, EY noted, as is reducing the fiscal deficit to 4.5% of GDP alongside boosting government and state capital expenditures to achieve a medium-term GDP growth target of 6.5% or more.

(With inputs from agencies.)