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Most experts feel the government could focus more on infrastructure and rural spending, which are key areas to bring growth back on track. They also expect the government to take measures to create job opportunities. We expect this budget to focus on job creation through infrastructure growth and boosting the rural economy. In the Interim Budget, a significant amount of resources has been allocated for announced social welfare schemes. Given the state of the economy and the issues facing the farm sector, this Budget is unlikely to be any different.
Reforms in infrastructure, agriculture, banking, NBFCs, and healthcare would be the key areas in the upcoming Budget, it added. With respect to income tax, the brokerage believes that the rebate announcements made in the Interim Budget would continue and no further change in slab would be announced.
Currently, inflation, fiscal deficit, and current account are less of an issue. However, the slowing GDP growth, agrarian distress, unemployment levels, and financial sector woes are the key challenges that the BJP government has to tackle in its second consecutive term.
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