Budget 2025 Sends Zomato and Swiggy Stocks Soaring: A New Era for Gig Workers and Consumer Spending

Shares of Zomato and Swiggy soared by up to 10% following Finance Minister Nirmala Sitharaman's announcement in Budget 2025, which included significant tax relief and social security measures for gig workers. The budget raised the income tax exemption limit to ₹12 lakh, enhancing disposable income and consumer spending potential. Additionally, the government plans to provide identity cards and health coverage for gig workers, benefiting around one crore individuals. This move is expected to invigorate the new-age services economy.

 

Source: Money Control, CNBC TV18, Economic Times