GST overhaul needed, say Congress MPs before Budget 2025

Congress MP Jairam Ramesh said that ahead of the Union Budget presentation, the focus should be on fundamental reforms to the Goods and Services Tax (GST). Speaking to agency, he said a key area to watch for in the budget would be whether investors receive relief from what he called "tax terrorism."

Ramesh noted that the budget has two elements: intent and content. Together, they decide the impact. Given the economic situation and the need to attract private investment, he does not expect much of a bang but is hopeful that the middle class might get some tax relief.He also expressed interest in whether investors would get some breathing space from the government's tax policies.

He said that GST reforms were urgently needed and that it was the most important issue.

Congress MP Hibi Eden from Kerala shared his hopes for the budget, saying that the common people and small traders are facing a lot of challenges, especially with regard to GST. Eden also anticipated increased funding for programs like MNREGA and hoped education and healthcare would receive more attention. He reiterated the long-standing demand of the party to revise the honorarium for Anganwadi workers and teachers, demanding better recognition for their contributions.He also hoped that the state, which he believes was neglected in the past, would also get more favorable allocation this year.

Finance Minister Nirmala Sitharaman presents the eighth consecutive budget today in Lok Sabha. She will talk about fiscal policies, revenue, and expenditure proposals by the government, tax reforms, and other important announcements to be made. As the budget is set to be presented, Sitharaman, along with Union Minister of State for Finance Pankaj Chaudhary, met with President Droupadi Murmu at Rashtrapati Bhavan before this exercise. As a gesture of good luck, the President offered the Finance Minister 'dahi-chini.' In the meeting, Sitharaman presented the contours of the Budget to the President.