Steel makers persitent demand for increasing import duty on the alloy is likely to be partially met in the Budget 2009. "Increase in import duty on steel from five per cent now to 10 per cent might happen this time," JSW Group's vice-chairman and managing director Sajjan Jindal said.

The Budget 2009 is not likely to raise the much-talked-about cess on diesel and petrol, used for building roads and highway infrastructure, from the present Rs two a litre. The cess is not likely to be increased even as the Ministry of Road Transport and Highways is pressing for a hike, sources said. Under the formula for sharing the cess, half of it on diesel goes for rural development.

The pension industry is hoping that the next Budget would give more tax benefits to subscribers under the new pension system. "We are hopeful that the government would give more tax benefits to subscribers under the new pension system," LIC Pension Fund CEO, H Sadhak, said. The new pension system (NPS) was extended to all citizens from May 1, but attracted a lukewarm response.

The government may extend the tax holiday for software exporters beyond March 2010, in the Budget, Analysts said extension of tax benefits will be a great relief to the IT sector, which is reeling under the impact of global financial crisis, which has resulted into fewer number of orders and sharp reduction in earnings.

Auto companies are looking forward to the continuation of incentives, including excise duty cuts, given in the two stimulus packages in the Budget 2009-10. Major auto players are expecting that the government will continue with 4 per cent CENVAT cut and reduce excise duty further to 8 per cent from 10 per cent, as announced in the two stimulus packages in December and January.

Reeling under the credit crunch and slump in demand, realty firms and consultants expect the Budget to provide more incentives for affordable housing sector and encourage buyers by doubling exemption limit on interest paid on housing loans to Rs 3 lakh.

Cashing in on the current lower value of different stocks, the Life Insurance Corporation has increased its stake in as many as 11 firms, including SBI and ICICI Bank, so far this year through open market transactions worth a little more than Rs 6,400 crore.

Ailing insurer AIG will be required to pay back hugely controversial bonuses it awarded after taking public bail-out money, the US treasury secretary says. In a letter to congressmen, Timothy Geithner also said $165m (£116m) would be taken from $30bn the firm is due to get as part of its government bail-out.

Concerned over the plight of exporters due to a shrinking market, the government on Thursday offered succour to the industry to pull through this phase by speeding up refunds and easing curbs on raw material imports. It also threw in a Rs 325 crore package for the leather and textile sector that has seen the maximum erosion in business and loss of jobs.

India is likely to sign a trade pact with the 10-nation economic bloc ASEAN (Association of Southeast Asian Nations) in April, Commerce and Industry Minister Kamal Nath has said.

"Maybe at the ASEAN summit at the end of April," Nath said on being asked when the Comprehensive Economic Cooperation Agreement with the regional body is expected.