I-T exemption maybe raised to Rs 3.5 lakh

February 01, 2017 10:51

The Modi government's first unified Union Budget, to be presented today, will be a please-all Budget with a deep focus on direct taxes and sops, knowledgeable sources said, reports Rajeev Sharma.

As part of this feel-good budget, the personal income tax exemption limit is likely to be raised from Rs 2.5 lakh to Rs 3.5 lakh.

Corporate tax is likely to be reduced from 25 per cent to 18 per cent to boost the corporate sector.

Besides, expect the Budget to have a sharp focus on sops for farmers, ways to boost agricultural income and big bang announcements in fields of health and infrastructure.

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