February 27, 2015 6:56 PM

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Tax sops likely in NDA government's first full year budget tomorrow

Finance Minister Arun Jaitley will present tomorrow the first full year Budget of the NDA government. Widely expected to unveil pro-common man measures and push forward Make In India campaign, the Budget, is likely to either raise tax slabs or hike investment limit in saving instruments.The Finance Minister is also likely to pursue the path of fiscal consolidation and keep the fiscal deficit target at 3.6per cent of GDP, down from 4.1 per cent expected this year. Besides doling out sops to the individual tax payers, he is also expected to unveil initiatives to boost investments by corporates and promote manufacturing . The Economic Survey released today said that it should aim at creating a competitive,predictable, clean and exemption-light tax policy regime that will lower the cost of capital. The Finance Minister who in his maiden Budget in July 2014 had outlined his approach to providing relief to individual taxpayers, is expected to continue this.

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