ALSO READ: Budget 2017: What does the automobile industry expect from FM Arun Jaitley? "There are bound to be teething troubles, though in the long run, lot more benefits would accrue to the economy," Assocham said. According to Assocham, "the corporates are seeking reduction in the corporate tax rate to 25 per cent". "The individual tax payers are expecting a big rise in the exemption limit and not a token amount of Rs 10,000-20,000," it said. ALSO READ:What India expects from Arun Jaitley on February 1 in first budget after demonetisation7th Pay Commission: With an eye on elections, will the Union Budget woo government employees15 words to help you decode Arun Jaitley's forthcoming BudgetALSO WATCH

Source: India Today January 29, 2017 12:36 UTC