Budget is a document that sums up the nation’s finances and provides an inkling of expectations in the next 12 months. Amidst strong headwinds in global financial markets, local inflationary pressures and runaway prices, what can be a set of reasonable expectations for Budget 2012.

Indian Budget has always been the biggest show for the government to gain the public support , It’s the report card that need to be presented before the reality has to be delivered.

Below are the certain expectations from different set of group – a nation of over a billion

For salaried people tax sops on housing loans and higher tax exemption limits from the current 180K for man and 190K for woman may be raised to 2.5Lkh.

The corporate sector looking to read the fine print on excise duty harmonisation, any changes in depreciation rates, dividend distribution tax changes and service tax items. Continue reading