Soothsaying is a difficult business. If it comes out right, you get no credit – for you were supposed to get it right in the first place. If you get it wrong, God save you from the ignominy. You were supposed to know but you have turned out to be such an incompetent guy. So, heads you lose, tails you lose even more.
So, let me start with a disclaimer. It is not that I am predicting the outcome of the budget. But what the budget should contain. I will dwell a bit on the probability of that happening, by sticking my neck out a bit.
The most important aspect of the budget from the mango man’s point of view is the tax structure. I don’t want to be a purveyor of bad news, but don’t expect too much here.
The best one may be able to get is a small tweak in the exemption limit for normal citizens and probably a similar amount for senior citizens as well. The tax slabs are not expected to change as the government may use the headroom in giving a growth impetus to the economy by spending on infrastructure or spending on social projects. Fortunately, the lower price of crude has given that wiggle room.
