* Reduction in excise duty on electronic and IT goods from 10% to 8%.

Media

* Increase in foreign investment limits in direct-to-home (DTH), cable, FM radio and news broadcasting services.

* Raise the rate of service tax to 10%.

* Customs duty to be levied on newsprint.

* Tax holiday for the capital intensive business such as Gaming, Animation, VFX.

* Removal of custom duty on set-up boxes.

Pharmaceuticals

* The 150% weighted deduction enjoyed by in-house R&D expenses should be extended to expenses on outsourced studies such as clinical trials and specific laboratory studies. The weighted deduction should also be raised to 200%.

* State excise duty on certain formulations should be cut to 8% from 16%.

* Central excise duty on drugs to be restored to 8% from 4%.

* Allocation for the National Rural Health Mission should be increased significantly.

* Eliminating excise duties on all essential drugs.

* Extension of tax exemption for export oriented units and clarity on the new direct tax code on special economic zones.

Power

* Continuation of income tax exemption for mega power generation projects.

* Increasing the allocation towards the government-led electrical infrastructure augmentation schemes namely Rajeev Gandhi Grameen Viyuktikaran Yojana and Restructured Acclerated Power Development and Reforms Programme.

* Reduction of import duty on thermal coal.

Retail

* Allowing foreign investment in multi-brand retail.

* Industry status to retail.

Metals and mining

* Increase in excise duty cut to 10% from 8%

* No change in customs duty structure

* Increase in iron ore exports duty by 5%

* Removing the 5% import duty on stainless steel and alloy steel scraps

Chemicals & fertilisers

* Increase the price DAP between 8%-10%

* Tax holiday for a period of 10 years should be extended to all new fertiliser projects

* Excise duty on fuel oil used for fertiliser manufacturing should be abolished.

Oil & gas

* Infrastructure status for Oil and Gas to promote investments with tax sops.

* Tax benefits for city gas distribution and extension in tax holiday for new refineries

* Declared goods status to be given to natural gas.

* Abolishing service tax on exploration and production activities.

Telecom

* Unification of tax regime from current differential taxation methods

* Reduction in license fee to 6%

* Tax holiday for mergers and acquisition activities of telecom companies to be extended till April 2010

* Clarity on 3G Auction timeline

* Increase in service tax by 200 basis points

* Government to use Universal Service Obligation funds for rural and broadband penetration

* Increase in Minimum Alternate Tax from the present 16.5%.

How many of these predictions and expectations of the experts come true will be revealed on the 26th of Feb when the Union Budget 2010-2011 will be presented by the Finance minister in the parliament.