That is for the first time in Indian historical past that theUnion Budget will likely be offered on February 1 as a substitute of the regular date of February 28. Finance Minister of India Arun Jaitley will present the Union Budget on February 1.

It has been lower than three months after Prime Minister Narendra Modi announced demonetization, so it will be a little bit of problem for the finance minister to present a properly-balanced price range. Persons are making guesses on what the funds will deliver for them. Will they get shocked or will it’s a pleasing shock for them?

Listed here are few things that customers are expecting from Parliament Price range 2017. Read on to know extra!

People want the finance minister to rethink the tax slab and widen it. With the rising price of living, it can be crucial that the exemption limit should be elevated. Presently the exemption limit is 2.5 Lakhs.

Salaried worker staying in rented houses additionally has excessive hopes from the finance minister. Property costs are capturing up in every single place within the country. Considering the present situation, it would be a sensible move if the HRA exemption of 50% of fundamental wage can be prolonged to Tier-2 cities.

Within the 2016-2017 price range, the finance minister rolled out a scheme to equip the healthcare sector of India. The finances aimed toward placing more money within the hand of the citizens. However, in funds 2017-2018, the exemption on account of medical reimbursement ought to be doubled.

It will be a positive surprise for nearly all of the country individuals if excise rates for petroleum products are lowered. Beforehand excise duty on crude oil import was enhanced to compensate for the tax losses. Nonetheless now that the price has risen per barrel, the federal government can suppose about reducing down the excise obligation on oil.