Union Budget 2025 expected to take some reforms in tax, such as the old tax regime getting phased out and introduction of zero income tax for those earning less than ₹10 lakh per annum. If you are wondering, “What is the date of Budget 2025?” you’ve come to the right place.

When Will the Budget 2025 Be Announced?

As per Article 112 of the Indian Constitution which is refer to Annual Financial Statement, commonly known as the Union Budget. It allows the government finance minister to present a detailed statement of estimated receipts and expenditures for the financial year to Parliament.

Budget 2025 date and time

For this year FM Nirmala Sitharaman will present the Union Budget 2025 in Parliament on February 1, 2025. Her speech will start at 11 am in the Lok Sabha.

The Parliament’s Budget session will be start on January 31, 2025, with the tabling of the Economic Survey, and will end on February 13, 2025.

Key Highlights Expected in Budget 2025

Pay Attention to the Housing Finance Sector

Aadhar Housing Finance’s MD and CEO, Rishi Anand, expected the following adjustments that the housing finance industry needs to make:

The GST limit for affordable housing should be raised from ₹45 lakh to ₹60–65 lakh.

Priority Sector Loan Definition: To conform to the updated limitations, update the RBI’s priority sector definition for home loans.

Economically Weaker Sections (EWS) and Lower Income Groups (LIG): To increase demand, raise the income thresholds for EWS and LIG from ₹3 lakh to ₹5 lakh and ₹6 lakh to ₹9 lakh, respectively.

Income Tax Remorms: The home loan interest deduction has been increased from ₹2 lakh to ₹4 lakh, which includes benefits for properties that are still under construction for a maximum of two years.

Notional Rent Tax Exemption: If a second home at a parent’s house is unoccupied and does not generate money, it is exempt from notional rent tax.

Affordable Housing Fund: Increase the fund’s size to enable Housing Finance Companies (HFCs) to refinance at a reduced rate.