Come Budget-time, and the media is rife with rumours about which taxes will be raised or lowered, and the direction in which the government might make fresh public investment.

This year is no different – although the corporate sector seems to be a little more relaxed than it has usually been in the past on Budget eve.

It's not only the various industry lobbies that push their demands on the government through the media. The government too does some kite flying, to see how the public (or sections of industry) might react to plans on the anvil.

Sometimes very few of the rumours turn out to be true. They end up as nothing but wishful thinking, or statements of a utopian dream.

But which of the rumours will turn out to be true and which will be falsified this time?

We'll never know, will we, until Budget day?

We thought it might be an interesting exercise to list the various rumours and speculations on government plans, along with industry demands floating around, and then see how they actually fare on budget day. Catch the score on 29 February 2008!

Watch this space for the expectations with regard to Information Technology, and we'll keep adding to it as and when new ideas are floated. Those doing the rounds till now, are listed below:

• The government is likely to extend the 10-year tax exemption under the Software Technology Parks of India (STPI) scheme. The scheme is scheduled to end in March 2009.
• The Information Technology ministry has sought duty cuts on electronics and IT goods used by the hardware and software industry. A reduction of excise duty from 16 per cent to 12 per cent is expected.