The last Union budget of Narendra Modi-led NDA government will be announced by Union Finance Minister Piyush Goyal in the Parliament on Friday at 11 AM. Ahead of the coming Lok Sabha election, the government is likely to announce several welfare measures for various sections of society.

Industries bodies expect that the credit flow to industries will increase and corporate tax will reduce. There is likely to be good news for the middle class in terms of income tax exemption and income tax deduction.

Finance Minister Piyush Goyal is also expected to announce assistance for the farmers. Reuters reports that In its interim budget today, the government is set to earmark about Rs 1.3 lakh crore for the Ministry of Rural Development, up from Rs 1.12 lakh crore in the current fiscal year.