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Economy

Govt now favours boosting rural spending over major cut in income tax to revive economy

Updated : January 06, 2020 08:13 AM IST

Many analysts and some economists have been pressing the government to cut personal income tax rates to spur demand and lift economic growth.
The government has been struggling with the fiscal deficit as tax revenue collection has remained weak and some estimates suggest a shortfall of over 2 trillion rupees in collections in 2019-20.

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