Budget 2021 Expectations: Why Budget will be damp squib on personal income tax, corporate tax relief

“Before expecting any tax relief, the current economic situation should be factored. GDP is expected to contract by around 8-10 per cent and fiscal deficit is at record high. Further, large scale expenditure on vaccination is on the cards, and on the other hand, there is a need to increase government spending especially capital expenditure,” Divakar Vijayasarathy, Founder and Managing Partner, DVS Advisors LLP, told Financial Express Online.