Common Man Expectations from Union Budget 2025

Summary: Ahead of Budget 2025, a common man’s expectations revolve around simplification and fairness in taxation, better fund utilization, and stricter regulations in the real estate sector. One key expectation is a single regime of taxation under the Income Tax Act to eliminate confusion, as many individuals have simple income sources and do not need the complexity of multiple regimes. A change in tax slabs under the new regime is also anticipated, with lower tax rates for incomes up to ₹10 lakh and incremental rates for higher incomes. Another expectation is improved monitoring of fund allocation for government schemes, ensuring that money reaches the grassroots level and is not misused, especially in infrastructure projects. Lastly, there is a call for stricter enforcement of the Real Estate (Regulation and Development) Act (RERA) to protect homebuyers from builders who do not follow the rules, as many still face challenges despite the existence of RERA. The common man hopes that the government will address these issues effectively in the upcoming budget.

Arjuna – Hey Krishna, Budget 2025 is around the corner. I am a little worried but at the same time excited too.

Krishna – Dear Arjuna, you are excited about the Budget 2025 is good but why are you feeling worried? Do you have any expectations from the coming Budget?

Arjuna – Yes of course Krishna. As a common man and having a strong Government with large support since the last ten years, I have few expectations from this coming Budget as a common man.

Krishna – What are they?

Arjuna – I have following expectations:-

• One Regime of Taxation:-

Form FY 2025-26, keep only one regime of taxation under the Income Tax Act, 1961 to avoid confusion and bring clarity. As a common man, we need to take the help of professionals; what is beneficial to us among the two. Many of us don’t have complex income sources and or investments. So, if we have only one regime of taxation it would help us to take the help of professionals only when we have complexity.

• Change in Slab Rate under New Regime for Individuals:-

As I am expecting one regime of taxation and if the government also brings a new regime of taxation as default option from last year; it is very clear that the current government also wants to bring many taxpayers under the new regime of taxation. If it is the case, what I expect is change in slab rate under new regime of taxation as follows:-

The Government can remove the standard deduction and instead of increasing or keeping few deductions what they would focus on is increasing the slab rate bracket.

• A system to check allotted funds utilization:-

Whenever the Government declares in its Budget about the allocation of funds under various schemes, it is the duty bound on them to check whether the benefits really reach to the end level i.e. to the common man.

As we can see that more funds are allocated towards building-up infrastructure but under the name of the development, the cost of the infra projects increase due to many reasons such as political interventions.

We are still facing the basic issues like no proper roads, no proper drinking water and therefore a proper system should be there to monitor these funds utilization and direct reporting to the Prime Minister’s Office (PMO).

• Stricter Rules & Regulations in the Real Estate sector to be followed by the Builders

­Even though after the coming of the RERA Act, 2016, there is no fear for many builders. Common men are still fighting for their rights even though they are not the defaulting party.

Krishna, these are my major expectations from this Budget 2025.

Krishna – Hey Arjuna, I understood your concern and what you are still facing. Just one suggestion, if you want to overcome your worry, keep expectations but detached from the results.

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