Finance Minister Arun Jaitley faces a tough task of balancing the needs of farm sector as well as the industry when he will present his third and challenging Budget on Monday as he seeks to garner resources to boost public spending for higher growth amid global headwinds. On the income tax front, the Budget may continue with the status quo on the tax slabs while it may tinker with the exemptions. Rising rural distress because of back-to-back droughts have put considerable pressure on the Finance Minister to spend more on social schemes, while at the same time he has to win back foreign investors craving for faster reforms.
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