Personally, I think Budget 2018 would be a lot more about politics than the economy itself, given the approaching 2019 General Election. Remember, how government slashed GST rates right before Gujarat Assembly elections in December last year?!
So expect a lot of appeasement announcements. But beside these theories, a lot is expected in the tax department. Hopefully, we will see some cut in the corporate tax. Finance Minister Arun Jaitley has himself promised this. Also, we can see some changes in direct taxes, including Income tax. There might be some revision in the tax slabs.
Then the focus will also be in the infrastructure development—the rural parts of the country in particular. There will be highways, more access to water, better housing and also better sanitation. Plus, now that the railway budget is mixed with the Union general budget, we would also hear about new trains that would connect the urban and rural areas. There will be cut in fares, and a lot of talk on food and cleanliness on and of trains.
Aside from these, we can hear Mr. Jaitley announce subsidies, forgive bad loans, and announce more budgets to the likes of temples, river and roads.
Sadly, even this year, like most, while the talk about of agriculture sector will be a lot, there would be really less impactful announcements for the farmers. Let’s see how it all turns out.