Can we bank on the Budget?

With the structural change in the ruling National Democratic Alliance, will the government be able to move on the bank privatisation front in this Budget?

State Bank of India Chairman Dinesh Kumar Khara is batting for tax relief on interest income in the forthcoming Union Budget – something all bankers, hand on heart, would love to see when growth in banks’ credit is outpacing the growth in deposits, for many. 

Currently, banks need to deduct tax – popularly known as tax deducted at source, or TDS – when one’s interest income on deposits held exceeds Rs 40,000 a year. For savings accounts, up to Rs 10,000 interest earned is exempted from tax.

“If at all some relief could be given