Union Budget: Farmers, jobs top on FM Arun Jaitley's agenda, says Swaminathan Aiyar
“It an election Budget. It is the last Budget before the general elections and so by that definition it is an election Budget,” eminent columnist and consulting editor of the Economics Times Swaminathan S. Anklesaria Aiyar reports. He went on to add that it might take various spending programmes for the various different places and there is certainly something will be done for farmers. Aiyar said some kinds of schemes will be announced for employment as this is a serious area where Prime Minister Modi has to worry that he has not kept up poll promises. “On direct taxes we should see a continuation of reduction of corporate taxes. I would expect very much change in income tax direct rates with a view to elections and income tax threshold may be raised,” he said.
Budget proposals are a closely guarded secret, but a finance ministry official with direct knowledge of the discussions told Reuters: “The government’s top priority is to create jobs and boost growth. The Budget is likely to offer incentives to the farm sector and small businesses.”
