Finance minister Arun Jaitley will present the Union Budget 2018 in Parliament on Thursday, with investors expecting increased spending and a reduction in tax slabs.
In his budget speech, Jaitley is expected to address agriculture distress, unemployment and ways to boost growth in the Indian economy while sticking to fiscal prudence.
The Union Budget 2018-19 will be the last full Budget of the BJP-led NDA as the general elections are due in 2019.
Stay tuned for more LIVE updates on Union Budget 2018.
Here are some of the important points you need to watch out for during the speech:
1. Will there be any new framework suggesting a fiscal deficit range from 2018-19?
2. Will a common man get income tax relief with an increase in the exemption limit.
3. Will Jaitley bring back the long-term capital gains tax (LTCG) in stock markets?
4. Will Jaitley cut the headline corporate income tax rate from 30 percent?
5. Will the budget contain measures to address concerns of rural distress and lift farm income?
6. Will excise duties be cut to lower prices on petrol and diesel?
7. Will standard deduction for salaried individuals make a comeback?
The first phase of the Parliament Budget session began from January 29 and will continue till February 9 and the second phase from March 5 to April 6.
The upcoming session will provide a total of 31 sittings of Parliament (eight sittings in the first phase and 23 sittings in the second phase) spread over a period of 68 days.
2018 Budget session is crucial as it comes after the Modi government's two very big financial decisions in the last couple of years- Demonetisation and implementation of GST. And also, this could be the last budget of present NDA government.