<h1>Union Budget 2008-09 to Focus on Tax Reforms, Personal Income Tax Relief, and Infrastructure Amid Strong Economic Growth.</h1> The upcoming Union Budget 2008-09 is anticipated to focus on tax reforms amidst a strong economic backdrop, with a GDP growth rate of over 9% and inflation between 4-5%. The Finance Minister faces challenges with indirect taxes, particularly customs and excise, while direct tax collections remain robust. Economists suggest broadening the tax base and maintaining moderate tax rates to encourage compliance. Key areas of focus include personal income tax relief, infrastructure spending, and addressing agricultural sector issues. The IT and telecom sectors seek tax relief, while potential new taxes, like the Capital Transaction Tax, aim to tackle black money transactions.