New Delhi [India], Feb 1: Prime Minister Modi has himself expressed concern over negligible job creation and hence Jaitley may focus on industrial investment, infrastructure, banking and disinvestment of public sector enterprises starting with Air India that together can throw up jobs as a by-product. The budget may also see many attractive schemes for the retail sector that has been the traditional vote bank of the BJP. Jaitley is expected to unfold reduction in GST rates for consumer goods and services to make a retailer’s life easier. Following Union Budget 2018 the rupee weakened by 9 paise to 63.67 against the US dollar and Sensex jumps nearly 135 points and ahead of the budget.This will be the last full-year Budget of the Bharatiya Janata Party-led National Democratic Alliance government before the Lok Sabha elections, which are currently scheduled for the summer of 2019.

A foreign player has already expressed interest in acquiring 49% of soon-to-be-privatized Air India. Aviation secretary R N Choubey told that “This company has given an unsolicited expression of interest for AI's airline arm." The government had realised Rs 46,247 crore in 2016-17 from 16 transactions of disinvestment. The Budget target for current fiscal was set at Rs 72,500 crore, which included Rs 46,500 crore to be raised through minority stake sale in PSUs, Rs 15,000 crore from strategic stake sale and Rs 11,000 crore from listing of general insurance companies. For personal taxes, the expectations are that he would raise the basic exemption from Rs 2.5 lakh to Rs 3.5 lakh, as otherwise even one drawing a little more than the minimum wage of Rs 19,000 per month becomes a taxpayer. During his pre-budget consultations, he was also urged to increase the exempt limit on the medical expenses.