Daily O

Union Budget 2019: Why expectations on income tax, farmers and corporates are running high

Finance Minister Nirmala Sitharaman will present the Union Budget on 5 July. Here are three key sectors of prime concern. Will their expectations be met?

It is budget-eve and like everyone in the country, we are biting our nails, hoping for our pockets to be jingling more and our bank balances to look better starting tomorrow.

Here are some expectations from three key sectors that form the core of the Indian economy — individual taxpayers, agrarians and the corporates.

Taxpayers

On the tax front, taxpayers would be looking forward to a higher tax exemption limit for individuals — from the current Rs 2.5 lakh to Rs 3 lakh of their annual suggesting its probability, soon after Arun Jaitley took charge as the Finance Minister in 2014, he had raised personal income tax exemption limit from Rs 2 lakh to Rs 2.5 lakh in his first Union Budget.

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