(HT)
It is unclear if finance minister Nirmala Sitharaman will tinker with income tax rates but there is an expectation that the exemption limit of ₹2.5 lakh will be raised. The buoyancy in tax revenues, relatively contained spending and higher nominal gross domestic product (GDP) growth is expected to have contained the fiscal deficit in the current fiscal to 6.3 per cent, below the projection of 6.8 per cent.
