Shalya Gupta, CEO, Credifin Limited, said, "It is imperative that the government puts in place an enabling ecosystem for EV adoption. This includes incentivising EV purchase and green finance initiatives."

Gupta added, "The EV market in India is poised for exponential growth, but the initial cost of EVs remains a barrier for many consumers. To address this, we expect enhanced subsidies, tax benefits, reduction in GST rates for batteries used in electric vehicles, and affordable charging facilities."

Dhiresh Bansal, Chief Financial Officer at Meesho, said, “The Union Budget 2024 introduced significant measures like reduced TDS rates, laying a strong foundation for SMEs and the e-commerce sector. As we look ahead to the Union Budget 2025, we hope for further reforms that simplify taxes and regulations, ease compliance, and strengthen digital infrastructure."

Bansal added, "Specifically, relaxing the requirement for a Physical Place of Business (PPOB) in every state by enabling a Virtual Place of Business will greatly enhance the ease of doing business for online sellers." 

With the Modi government returning to power and Finance Minister Nirmala Sitharaman at the helm, the long-anticipated Direct Tax Code (DTC) is set to be introduced. The DTC aims to simplify India's intricate tax system, making it more accessible, clear, and easier for taxpayers to comply with.

Sandeep Bagla, CEO of Trust Mutual Funds, said, ''It is going to be a tight rope budget. Domestic economy is slowing down. Rupee is under pressure. Inflation is yet to come to RBI’s comfort levels.  We expect some reduction in the fiscal deficit closer to 4.5 per cent. The government is likely to increase the outlay on public capital expenditure, but only slightly."

Bagla further said, "I expect a marginal increase in capital gains tax to shore up revenues. Personal tax rates could be reduced or adjustments in the buckets could be made to put more money in consumer’s hands."