Economy Budget 2020: 7 policy measures that are likely to be announced by the finance minister Updated : January 27, 2020 06:32 PM IST The cut in personal income tax is quite likely as the government may want to increase the purchasing power of and consumption by individuals, to boost demand in the economy. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.