Individuals may see take-home rise while lower corporate tax rate could cheer cos The upcoming budget may bring cheer to both individuals and corporate taxpayers as the government looks to lift sentiment in the wake of demonetisation. The measures will be aimed at reviving demand and stimulating private investment to boost overall growth On the cards is a revamp of the income-tax framework for individuals to increase their takehome pay, thus persuading them to start buying more goods and services, and a reduction in the corporate tax rate to encourage companies to invest. “There are multiple proposals on the table,“ said a government official. “The government is keen on enhancing the purchasing power of people to boost demand.“ The Central Statistics Office (CSO) has estimated that the economy will grow 7.1% in the current financial year, slower than 7.6% last year, but this forecast didn't include the impact of demonetisation. Private estimates suggest the economy co