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Its Budget time folks and our hopes are building up. So what will the FM unveil this time. Will the coming Budget have pleasant surprises or will it mean more financial outgo. Industry experts say that this time the focus will be on the common man. And with such a view the present tax slabs may be reworked to benefit individual tax payers, at the same time reducing the exemptions available to industry. Which means tax concessions on housing loans and specified savings are here to stay.
The government may also usher in a few positive changes to provide sops to employment generating industries such as food processing and chemical industries and bring down cost of hardware components making computers much more cheaper among others.
The insurance industry is looking forward to a green signal for hike in the foreign direct investment to 49 percent that was announced in last years Budget. While the Left stalled it then, this time though, chances are it may get the nod. Besides health insurance badly needs a push. The budget may provide rebates on certain health insurance products that presently do not enjoy concessions with a view to increase penetration.
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