The Finance Minister faces the challenge of solving the problem of rising prices of food, clothing and housing. These three things are the biggest and essential needs of every home. The biggest question is whether food, clothing and housing will become cheaper in the budget? What is Finance Minister Nirmala Sitharaman’s plan? Let us know about these plans
The time for presentation of the country’s general budget is gradually approaching. People have a lot of expectations from this budget. It is believed that this time there will be a lot for the common man in the budget. The Finance Minister faces the challenge of solving the problem of rising prices of food, clothing and housing. These three things are the most essential needs of every home.
Rapid rise in prices
The prices of food items are increasing rapidly. According to the National Sample Survey Office (NSSO), about 40 percent of the income of Indian households is spent on food alone. Food inflation increased significantly in 2024. The price of tomato has increased by 161 percent. Whereas the price of potatoes has increased by 65 percent.
The government can take some steps in this direction in the next budget. Together with the Reserve Bank of India (RBI), it can balance interest rates. The exchange rate of the rupee can be stabilised. At the same time, import of items like edible oil can also reduce inflation. Apart from this, the food subsidy scheme can also be increased.
Will housing ever get cheaper?
Millions of people in India dream of owning their own home. Due to expensive houses he is unable to fulfill his dream. In the year 2024, property prices in cities like Mumbai and Delhi increased by 13 percent to 30 percent. The budget of Pradhan Mantri Awas Yojana (PMAY) was increased in the budget for the financial year 2024-25.
Till now only 91 lakh houses have been constructed. In Budget 2025, the government may bring some schemes to build affordable houses in urban and rural areas. These could include increasing tax exemptions on home loans, promoting construction of affordable homes and incentivizing developers to reduce production costs.
had a deep impact on the textile sector
India’s textile sector provides employment to millions of people. The sector is also facing many problems. The sector is being affected by declining domestic demand, rising costs of production and global competition. It remains to be seen whether some decisions can be taken to promote the textile sector in the next budget or not.
These include reducing GST on basic textiles, promoting local production and promoting the use of modern technology. Only time will tell how much relief this budget will provide to the public, although the country’s economy is also expected to get strengthened.
