Budget 2025: Experts pitch for tax sops, cut in customs tariff in meet with PM Modi

Budget 2025: Economists pitched for reduction in income tax rates and customs tariff, support measures to aid exports, targeted interventions for skilling and improving farm productivity while continuing a capex push in the upcoming budget.

At a pre-budget interaction with Prime Minister Narendra Modi, economists also laid emphasis on further deregulation in financial markets and easing of procedures, people familiar with the deliberations told ET.

Modi, they said, pointed out that employment generation remains a key focus area for the government. He also highlighted the efforts being undertaken to improve data quality and its use to improve policy outcomes. "He heard everyone very patiently," said one economist, who attended the meeting.


An official statement issued later in the day said the prime minister emphasised that 'Viksit Bharat' can be achieved through a fundamental change in mindset, which is focused towards making India developed by 2047.

The meeting was held on the theme 'Maintaining India's growth momentum at a time of global uncertainty'. It said economists shared their views on several significant issues including navigating challenges posed by global economic uncertainties and geopolitical tensions, strategies to enhance employment particularly among youth and create sustainable job opportunities across sectors, strategies to align education and training programmes with the evolving needs of the job market.

They also suggested steps to enhance agricultural productivity and create sustainable rural employment opportunities, attract private investment and mobilise public funds for infrastructure projects to boost economic growth, besides creating jobs, promoting financial inclusion and attracting foreign investment, the statement added.

The meeting was attended by Surjit S Bhalla, Ashok Gulati, Sudipto Mundle, Dharmakirti Joshi, Janmejaya Sinha, Madan Sabnavis, Amita Batra, Ridham Desai, Chetan Ghate, Bharat Ramaswami, Soumya Kanti Ghosh, Siddhartha Sanyal, Laveesh Bhandari, Rajani Sinha, Keshab Das, Pritam Banerjee, Rahul Bajoria, Nikhil Gupta and Shashwat Alok.