Will Budget 2020 bring tax relief? Common man has hopes pinned on Modi govt

The common man has his eyes set on Finance Minister Nirmala Sitharaman's second Budget next month for relief in income tax, but an economic slowdown and a sharp reduction in corporate tax rates hint that she has very little flexibility to dole out a big largesse. Facing flak for not doing enough to revive a slowing economy in her maiden Budget presented on July 5, 2019, Sitharaman in September sprang a surprise by cutting tax paid by companies on profits they earn to their lowest. This dented the Centre's tax kitty by as much as Rs 1.45 lakh crore.

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