By Admin 
Budget 2026 Expectations: As the budget time is approaching, the expectations of common working people and middle class families have also started increasing. The budget presented every year on 1 February does not just provide information about the government’s expenditure and earnings. Rather, it affects people’s salary, taxes and savings. This is the reason why on this day the eyes of the entire country remain focused on the speech of the Finance Minister.
The Union Budget 2026-27, to be presented on 1 February 2026, is being considered special in many ways. This is the last budget to be presented under the current income tax law. The government is preparing to implement the new Income Tax Act 2025 from the next financial year. Due to which decades old tax rules will change. This is why taxpayers are expecting many big reliefs from this budget. Let us know what expectations the Indian middle class has from the government…
Expectation of relief on home and health expenses
Amid rising inflation, housing and medical expenses are becoming the heaviest burden for the common man. In such a situation, taxpayers are expecting that along with the change in tax slab, the government will provide them relief by giving exemption on daily essential expenses. At present, rebate of up to Rs 2 lakh is available on home loan interest. This is considered much lower than the rising property prices.
At the same time, the middle class also demands that if the government takes forward the new tax regime, then some important deductions should be included in it. The middle class is especially expecting tax exemption related to health insurance and home loan. So that people can save and invest without much pressure for needs like treatment and housing.
Hopes of taxpayers stuck in old tax system
In the last budget, the government had announced to provide relief to taxpayers from the new tax regime. It was announced that income up to Rs 12 lakh would be tax free. However, during this time, those taxpayers started feeling ignored, who are still stuck on the old tax system and consider it more reliable.
Taxpayers following the old tax regime depend on savings schemes like PF, insurance and home loan. He hopes that the government will decide to increase the basic exemption limit, which is still Rs 2.5 lakh. Besides, the limit of Rs 1.5 lakh fixed under Section 80C is also expected to be increased. Taxpayers hope that the government will make it Rs 2 lakh.
Big expectations regarding employment
There are many expectations related to middle class employment from Budget 2026. He hopes that the government will give priority to employment and skilling in Budget 2026. Due to which new employment will be created and the middle class will benefit from it. Increase in employment will increase household income, and if the government pays attention to the youth in MSME loans, then many new avenues of self-employment can open up.
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