“Our pre-budget survey indicates that rate cuts for individuals is the most wanted item for everyone. This is in line with expectations that lower tax rates for individuals, along with the corporate tax rate cuts enacted last year, will boost spending and investment in the economy. Corporates are also hopeful of extension of tax holidays for exports to encourage more foreign inward remittances and continuing the weighted deduction for R&D spends to encourage Make in India,” said Hitesh D. Gajaria, Partner and Co -Head, Tax, KPMG in India.