There may be concessions for the middle class, which is pinning hope on a reduction in income tax rates, along with a hike in standard deduction. Under the old tax regime, the basic income exemption limit is set at Rs 2.50 lakh, while in the new tax regime, the limit is Rs 3 lakh.
With the Economic Survey seeking financial inclusion for rural households and small businesses as a priority area, Nirmala Sitharaman may announce easier access to credit through microfinance institutions, self-help groups and other intermediaries.
Revisiting tariff structures to support domestic manufacturing and reduce dependency on imports while helping manage exchange rate pressures are likely.
There is a…