Union Budget : Nirmala Sitharaman's ninth budget, the country's attention on 10 major announcements

The entire country is currently focused on Budget 2026. Union Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2026-27 in the Lok Sabha today, February 1. This is her ninth consecutive budget, and it is anticipated that there will be major announcements on important issues such as inflation, tax exemptions, farmers, the middle class, senior citizens, insurance, gold-silver, and the stock market. Expectations from this budget are linked to everyone from ordinary citizens to the industry, farmers, and investors in the country. Against this backdrop, the country is keenly watching which 10 major announcements Nirmala Sitharaman might make in the budget.

1. Will income tax relief increase?

In the last budget, tax exemption up to 12 lakh rupees was announced under the new tax regime. Also, a standard deduction of 75 thousand rupees was maintained for salaried individuals. However, some taxpayers are still in the old tax regime. Therefore, there is a demand to increase the tax exemption limit from 12 lakh to 14 lakh in the new tax regime.

2. Will the old tax regime become more beneficial?

Currently, there is a tax exemption up to 5 lakh rupees for taxpayers under the old tax regime. There is a strong demand to increase this limit to 8 lakh rupees. This could provide significant relief to the middle class.

3. Changes in TDS deduction?

The limit for TDS deduction for senior citizens has already been increased. However, it is expected that this limit should be increased from 1 lakh to 2 lakh rupees. There is also a demand to increase the TDS limit on rental income to 10 lakh rupees.

4. Major changes in GST?

Some reforms have already been made in GST rates. It is expected that more concessions should be given to the education, small industries, and real estate sectors. Additionally, the demand to bring petrol and diesel under the GST ambit may gain momentum again.

5. Relief for the insurance sector?

There is a demand to apply 0% GST on insurance and health insurance. Additionally, after 100% foreign investment, the government may announce special schemes to extend insurance facilities to rural areas.

6. Reduction in taxes on gold and silver?

The rise in gold and silver prices has put the jewelry business in trouble. Therefore, there is a demand to reduce import duty and GST rates, which can directly benefit consumers.

7. Big announcement for farmers?

It is speculated that the amount received by farmers under the PM Kisan Samman Nidhi may be increased from 6,000 to 12,000 rupees. This could boost the rural economy.

8. Relief for the stock market?

It is expected to boost investor confidence by reducing LTCG, STCG, and STT taxes. The government may make some announcements to encourage foreign investors to return to the Indian market.

9. Facilities for senior citizens?

Senior citizens are demanding the resumption of the railway ticket concession scheme that was halted during the Corona period. The government may make a positive decision on this.

10. Tax exemption on NPS retirement fund?

There is a demand to impose zero percent tax on 80 percent of the amount received at retirement under the National Pension System (NPS). Currently, tax exemptions on NPS are limited under the new tax regime.