standard deduction: 14 things India wants from Nirmala Sitharaman’s Budget

Here are the 14 expectations economists, companies, tax experts and India’s salaried class have from Sitharaman’s February Budget.

1. Economists are rooting for a gradual fiscal consolidation path, capital expenditure to pursue growth and steps to rein in inflation. The year-on-year projection of fiscal deficit should not be significantly large, they feel. They want the FM to take capex route, and preferably spend on capital assets and infrastructure projects, rather than raising allocation to rural-centric cash or employment schemes.

2. Economists also want the re-introduction of wealth and inheritance tax to address rising inequality in Covid. A joint study by Ashoka University and think tank CBGA pitches for re-introduction of these taxes, while providing incentives for charitable donations. India’s richest…