New Delhi: Finance Minister Arun Jaitley will present his maiden Budget Thursday in a bid to turn around the economy that is growing at a decade low.

Arun Jaitley is expected to take bold steps amidst high hopes that the new government will raise tax slabs and also significantly hike the annual tax exemption limit to provide a much-needed relief to salaried class, which is reeling under the stubbornly high inflation.

For boosting investment, Jaitley is expected to announce tax incentives for industry.

As a prelude to the Budget, the government has already extended the excise duty concessions for automobile and consumer durable sectors till December.

The Finance Minister is also expected to take a call on reducing duties on gold import, which were increased last year to check ballooning current account deficit.

He could also provide relief to farmers to help them tide over the impact of deficient monsoon which could lead to fall in agricultural output.

The government may set up a price stabilisation fund, as promised in the BJP's manifesto.

On the other hand, Jaitley, though not a hard-core economist, is expected to pursue the path of fiscal prudence and not sacrifice it at the altar of populism.

He has already indicated that the government will have to refrain from mindless populism.--- PTI