VMPL
Mumbai (Maharashtra) [India], January 22: Abolition of Securities Transaction Tax (STT) and the revision of the income tax exemption slab to Rs 25 lakh are two major expectations from the upcoming Union Budget – 2025, said Akshat Khetan, corporate and legal advisor and Founder of AU Corporate Advisory and Legal Services (AUCL).
As India aspires to achieve developed nation status by 2047, the need for innovative strategies to ensure sustainable growth, inclusivity, and resilience has become more pressing than ever. The dynamics of many sectors have been reshaped by technological advancements such as Artificial Intelligence, posing both challenges and opportunities for policymakers.
According to Akshat Khetan, this Union Budget is expected to unveil pivotal reforms and initiatives that will address immediate concerns, and also lay the foundation for long-term economic transformation.
First of all, the banking and financial sector has long awaited relief in the form of the abolition of the Securities Transaction Tax (STT). “Viewed as a burden on market participants, particularly retail investors, its removal would lower transaction costs, encourage broader market participation, and boost liquidity,” he said.
“Another much-anticipated reform is the revision of the income tax exemption slab to Rs 25 lakh. This bold step would not only provide tax relief to a larger section of the middle and upper-middle class but also directly boost disposable incomes. Increased consumer spending from this move would serve as a catalyst for economic growth,” he added.
In an increasingly digital world, cyber security is paramount. Khetan, a cyber-legal expert, believes that adequate funding to tackle cyber fraud and cyberbullying is essential. Specialized cybercrime units with trained personnel and investments in advanced technology can fortify defences against cyber threats. Such measures are vital for protecting sensitive government and private data from malicious attacks.
Khetan firmly believes that India can never see real progress unless its women are empowered. For women, the budget must prioritize access to entrepreneurial funding, dedicated social security measures, and skill development initiatives. Programs that encourage women’s participation in high-growth sectors like technology, finance, and healthcare can nurture gender parity and significantly boost the country’s GDP.
Likewise, India’s youth remain its most significant asset. Khetan said, “To address unemployment and skill gaps, the government must allocate resources toward skill enhancement in fields such as artificial intelligence, renewable energy, and robotics. Tax subsidies for companies offering internships and apprenticeships could bridge the gap between education and employment.”
Judicial infrastructure remains a foundation of effective governance. Khetan said that the budget must allocate substantial funds to modernize courtrooms, build new judicial complexes, and digitize records to enhance efficiency and accessibility. “Initiatives such as e-courts, video conferencing facilities, and AI-driven case management systems are crucial to reducing delays and improving the delivery of justice. Additionally, setting up alternative dispute resolution (ADR) centers within court premises could significantly ease the burden on traditional courts,” he further said.
According to Khetan, the modernization of armed forces must remain a priority. “Allocations for indigenous production of advanced weaponry and the development of technologies like drones, cyber defence systems, and artificial intelligence will bolster India’s strategic capabilities. Strengthening the nation’s defence infrastructure is essential to maintaining sovereignty and preparedness in an evolving geopolitical landscape,” he said.
This Union Budget carries the weight of aspirations, challenges, and opportunities. Strategic investments across these key areas could lay the foundation for a resilient and progressive India, steering the nation closer to its goal of becoming a developed economy by 2047.
About AUCL:
AUCL is a one stop solution for companies looking for assistance with Corporate Strategies, Mergers and Acquisitions, Financial Advisory, Debt Syndication, Litigation Services, Cyber Security, Cyber threat and much more. Over the years, they have emerged as the country’s preferred name for legal and corporate advisory services. They stand apart with their ability to work seamlessly with our in-house experts in various segments such as General Corporate, Litigation, Regulatory, Taxation and Corporate Finance. Their team work closely with investment banks, accounting firms, law firms and financial institutions for implementation of transactions.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
