With the Union government focusing on widening the tax net, the management fraternity is keenly looking forward to amendments to the tax structure, says Vivek Krishna Govind, chartered accountant and president of Kerala Management Association.

This will be the last full Budget of the present government and the first after the implementation of Goods and Services Tax (GST).

The corporate sector is expecting substantial reduction in tax rates including minimum alternate tax rate. They also expect scrapping of Dividend Distribution Tax (DDT). Another key focus of the Budget could be infrastructure growth.

New policies are expected to give further impetus to infrastructure development, Mr. Krishna Govind said. Job creation is also likely to be a thrust area for the government, and a comprehensive National Employment Policy could be introduced in the Budget, he felt.

Recapitalisation of PSU banks is a major challenge for the government owing to the increase in NPA levels. Certain proposals in this regard are likely to find a place in the Budget.

The sale of government stake in Air India and disinvestment proposals for other PSUs are expected to be announced.

The Finance Minister is expected to introduce certain new initiatives, which will give thrust to agriculture and manufacturing sectors.

The management fraternity expects a positive Budget, which will help businesses overcome the hardships they have faced in the past few quarters, he added.