India Budget 2025 Pre Budget-Analysis - All Segment Eninrac Point of View ( POV )

Before I come to the power sector, which is our domain, wherein we as Pen Eninrac Consulting Advisory and Marketing Research Company, focus more with our insights, our thought processes, I would also put forth few expectation of the industry or the public at large, like the middle class or middle income group people are relentlessly asking for a tax relief as the overall expenditure is increasing because of costly education and healthcare system. Also, if the tax relief is given to the middle class, this would translate into more cash available for disposable, disposal with them and also would contribute towards the higher spending and the consumption of either fast moving consumer goods or other kind of expenditures. It is also possible that finance minister can set some timeline for the, for doing away with the old tax regime as the 24-25 assessment year, it speaks that around 27% taxpayers are only with the old regime, whereas 73% are filing their returns in the new tax regime.

So, this also I could be a timeline can be given by the finance minister who has to fully do away with old tax regime. On GST front, it is expected that the ETF and gas could be brought in the purview of GST, though this may not be part of this budget, but I believe that would be giving strength to the finance minister in taking financial decisions. Similarly, the last budget wherein finance minister has reduced the gold import duty by around 9% or so, I think that has not worked because the gold import is increasing with every passing day, whereas it was expected that the reduction in the duty would somewhat reduce the price of the gold and the industry would be doing value addition in the gold and then exporting, which has not in fact happened.

The rush in the gold import actually has become the villain of the whole rising trade deficit because year 24-25 has seen almost 104% jump in the gold import, which was absolutely not estimated or expected by the finance minister. However, these are some issues that or challenges that finance minister has to be worried about or to be taken care of. Still what I feel that with the comfort of all other factors that I mentioned, finance minister would be giving good push to the net zero goal by virtue of giving or continuing the PLI and ALMM schemes for various power sector related companies, industries like solar industry, wind industry or hydrogen for that matter.