The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
Here are the key decisions announced by the Reserve Bank of India on Thursday.
The opposition has attacked the Modi government over the National Democratic Alliance's last full-fledged budget before the 2019 Lok Sabha elections.
Here comes the moment of truth. Modi prides himself on offering an "incorruptible" government. Will he dilute the Prevention of Corruption (Amendment) Bill to coax the administration's fealty and compromise his self-image?
BJP's total silence on Delhi statehood is intriguing.
Demonetisation hit informal sector hard and caused job losses which was not addressed by the budget, Moily said.