Finance Minister Arun Jaitley will today present the current NDA government’s fifth and arguably his toughest Budget yet as he seeks to address agriculture distress, create jobs and boost growth while at the same time stick to fiscal prudence.
The Budget ,in view of upcoming assembly polls in eight states – including three major states ruled by the BJP – and general elections next year, may see new rural schemes and step up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
With the recent elections in Gujarat indicating erosion of BJP’s rural vote base, Jaitley may also unveil incentives for the farm sector.
Small businesses, which have traditionally formed the core support base of the BJP, too may get some sops to ease pain caused to them due to a chaotic rollout of the Goods and Services Tax (GST) and demonetisation.
There is also an expectation that common man may get some relief in income tax by way of a rise in the exemption limit.
