As Union Budget 2025-26 approaches, Dr. Malini Saba, Founder of the Saba Group and the Anannke Foundation, has highlighted the need for targeted personal finance reforms to support economic growth, long-term savings, and financial empowerment across communities.
“The Union Budget 2025-26 provides a critical chance to boost economic growth while supporting personal financial measures. With GDP growth forecast at 6.5% (IMF, 2024), targeted changes to personal taxation rules can improve financial stability for individuals, families, and communities,” Saba stated.
Building on reforms like the increased standard deduction to ₹75,000 for salaried individuals under the new tax regime (FY2024–25), Saba suggested simplifying tax compliance further and introducing incentives for long-term savings and investments. She emphasized enhancing tax benefits for schemes such as PPF, EPF, and NPS to strengthen the savings culture and contribute to economic stability.
Saba also underscored the importance of empowering women through financial literacy. “Equipping women with tools to manage resources effectively and make informed financial decisions—whether for personal independence or business investment—can foster prosperity for families, communities, and rural enterprises,” she said.
She urged the government to prioritize reducing short-term tax burdens, promoting long-term wealth creation, and financially uplifting marginalized communities to build a more equitable and prosperous future for all.
As Union Budget 2025-26 nears, expectations are high for reforms that will drive personal financial growth, foster inclusive economic development, and empower women and marginalized groups in India’s evolving financial landscape.
