The countdown to the Union Budget has already begun and on top of the wishlist remains expectations of people . Will the middle-class have reasons to smile after Finance Minister Jaitley finishes his speech in the afternoon on February 1? Rakesh Nangia, Managing Partner in a special pre- budget discussion conducted by Moneycontrol.com(Network 18) discussing things that Finance Minister Arun Jaitley can include in Budget 2018 .

Will Finance Minister, Arun Jaitley, provide relief to individual tax-payers in the coming Union Budget? With the Budget to be the last full one of present government of Prime Minister Narendra Modi, there are hopes that it might include major reliefs for taxpayers with an eye on the general elections in 2019. Rakesh Nangia, Managing Partner in an interaction with moneycontrol.com sharing his expectations From Budget 2018 . Mr. Nangia feels that among other things, there are expectations that the government might slightly alter the tax-slabs and increase the investment cap for tax relief under Section 80C of the Income Tax Act. Mr. Nangia listed out the following expectations from the Budget:

• Rejig in income tax slabs
• Increase in limit for investment in tax-saving schemes
• Increase in monetary limit for medical reimbursements, transport allowances

Over the past few years, the government’s Budget declarations and reform stratagems have focused on affordable housing, encouraging first-time home buyers and cleansing the sector of black money. In line with the government’s aim to provide ‘housing for all’ by the year 2022, the 2017 Budget proved to be an enthralling one for the Indian real estate sector, as it was centred around these issues and directed to mend sentiments and increase sales which were majorly impacted by the demonetisation drive.   Rakesh Nangia, Managing Partner contributed an article on Budget 2018: Real estate longing for stability, certainty and strength for Financial Express.