NEW DELHI (Reuters) - Indian Finance Minister Arun Jaitley wants to hit his fiscal deficit targets in this month's budget and may scale back some corporate tax breaks to do so, according to people directly involved in the process.
Here's a look at India's fiscal deficit targets and major corporate giveaways:
FEDERAL BUDGET DEFICIT (percent/GDP):
Deficit Reuters Poll
2014/15 4.0
2015/16* 3.9
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2016/17* 3.5 3.7
2017/18* 3.0 3.5
NOTES: * Budget estimates. Sources: Finance Ministry, Reuters poll CORPORATE TAX BREAKS (figures in bln rupees unless stated):
Corporate income tax incentives 624
Of which:
- Accelerated depreciation 370
- Exports from special economic zones 184
- Power sector 106
- Scientific research 81
- Others 243
Clawed back under Minimum Alternate Tax (360)
Excise duty incentives 1,847
Customs duty incentives 3,017
Total net corporate incentives 5,488
In billion U.S. dollars 81
Source: Finance Ministry
(Compiled by Douglas Busvine; Editing by Ian Geoghegan)