Budget 2019 demands: Commenting upon his idea on budget 201, Rajiv Singh, CEO - Stock Broking at Karvy told Zee Business online in a written statement, "The government may make announcements in order to please rural voters and the urban middle class. It is important to remember that government’s commitment to fiscal prudence does not give it a significant room for pursuing an expansionary fiscal policy, the target for fiscal deficit for FY2018-19 is 3.3 per cent of Gross Domestic Product (GDP), Goods and Services Tax (GST) collections do indicate that meeting the fiscal deficit target will be tough. The government has divested Rs 35,134 crore against target of Rs 80,000 crore during the current financial year and there could be shortfall on this account as well."

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Giving cue about the budget being an election budget Raji Singh of Karvy said, "The comprehensive review of direct taxes is pending and may take time; the government may however, tinker with the current slabs to please the urban middle class. The most possible scenario is raising the minimum tax slab from Rs 2.5 Lakh to Rs 5 Lakh. Also there could be an increase in exemptions for senior citizens.  A hike in deductions under Section 80-C from Rs 1,50,000 to Rs 2,50,000 cannot be ruled out."

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Dharmesh Kant, Head - Retail Research at IndiaNivesh Securities told, “Given the water-tight scenario on macro front, be it fiscal deficit, volatile crude oil prices, depreciating rupee (INR) or the stagnating indirect tax collections, leaves no scope for playing to the galleries. We believe continuity of existing policy framework will be the take away. However, some relief to farmers in the form DBT based on land holdings, direct transfer of fertiliser subsidy on purchases made and raising of MSP for essential food grains may be on the cards. For BPL (below poverty line) section, relief in the form of higher MNREGA cannot be ruled out. For corporates and individuals, a ‘status quo’ is likely to be maintained on the taxation front." He said that the government will ensure the arithmetic of fiscal prudence.

"Any aforesaid relief, if it comes, will be well calculated and within the framework of revenue earned. To conclude, it will be more a statement of facts than directional. Actions if any, will happen outside the budget,” said Dharmesh Kant of IndiaNivesh Securities.