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Accepting the challenge of maintaining the fiscal deficit at 4.1% for the financial year 2014-15, a budgetary framework has been cast - amendments made on the personal tax front reflect the overall objective of fiscal prudence.
The government has increased the limit from 26 per cent to 49 per cent under the government approval with continuity of control in Indian hands.
Business Today spoke to Vidyut Gulati, Partner, Amarchand Mangaldas, on steps she expects Finance Minister Arun Jaitley to take in the Budget.
The most pressing issue before the Finance Minister is the revival of investments and the economy.
The clear majority enjoyed by the new government has made the common man look up to the upcoming Budget in July with greater expectation.
The recent amendments to the indirect-tax laws have further added to the already unresolved challenges faced by the IT industry.
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