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Budget Expectations 2018-19 -
Budget Expectations 2018-19
Prabhudas Lilladher | Published: 30 Jan, 2018  | Source :

Fiscal deficit likely to be higher than the estimated 3.2% of GDP in FY18 on lower growth and reducing the same will be a challenge in FY19, unless we see a an increase in GDP growth.

• Expect  to  see  a  roadmap  for  reduction  in  corporate  tax  rates  and  personal  income  tax  for  lower income brackets benefitting the middle class.

• Farm  loan  waiver/subvention  a  possibility  as  a  boost  to  affected  areas  in  rural  India  and  sops  for agriculture, be it in terms of supporting increased mechanisation or sops to improve farm income.

• With  the  private  capex  still  remaining  low,  government  may  resort  to  increased  market  borrowings going  forward  to  fund  government  capex,  the  budget  will  continue  to  focus  more  on  public sector/government  capex.

• Hence,  we  expect  to  see  slightly  loose  fiscal  policy  and  the  government  may  not  adhere  to  the  earlier targeted  tight fiscal levels to aid growth in an election year .

• With  elections  in  mind,  the  key  theme  of  this  budget  could  remain  as  a  balancing  act  between improving  growth  managing  the  set  fiscal  targets  and  lower  tax  rates  especially  for  the  lower segments and rural benefits with sops to the masses

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