evidence: Premise [edit]The 2018 budget was considered to be a crucial one,[9][10][11] as it would be the first since the rollout of the Goods and Service Tax (GST) regime in India.[12][13][14] It was widely expected that the budget would either increase the exemption limit, or introduce a standard deduction for salaried people to reduce the tax burden, in addition to a reduction of the tax rate for the ₹5 lakh (equivalent to ₹6.7 lakh or US$8,000 in 2023)–₹10 lakh (equivalent to ₹13 lakh or US$16,000 in 2023) slab from 20% to 10%, and an increase in the 30% band above ₹10 lakh (equivalent to ₹13 lakh or US$16,000 in 2023).[15][16][17] The budget also came on the heels of a cut in the corporate tax rate in the United States.[18][19][20] Printing of the budget began on 20 January 2018 with the traditional Halwa ceremony.[21][22][23]