The upcoming Union Budget, scheduled for presentation on February 1, 2026, builds significant anticipation among the public for announcements that could enhance everyday financial relief. Key areas of focus include potential adjustments to income tax structures, infrastructure improvements, agricultural support, and healthcare expansions.
Income Tax Reforms on the Horizon
Officials indicate that the government plans to enhance the new tax regime by raising the standard deduction from Rs 75,000 to Rs 1 lakh. This adjustment would exempt annual incomes up to Rs 13 lakh for salaried workers from taxation. Currently, incomes up to Rs 12.75 lakh qualify for exemption, offering broader relief to middle-income earners.
Boost for Railways Infrastructure
The railways sector anticipates substantial support, with plans to introduce over 300 new trains aimed at shortening waiting lists for reserved seats. Budget allocations for railways are likely to see an increase, continuing trends from recent fiscal plans to improve connectivity and passenger convenience.
Enhanced Support for Farmers
Agricultural stakeholders expect an uplift in the PM Kisan Samman Nidhi scheme, potentially increasing annual assistance from Rs 6,000 to around Rs 9,000 per beneficiary. The program, unchanged since its 2019 inception, has faced repeated calls for revision in prior budgets to better address farmers’ needs amid rising costs.
Healthcare Coverage Expansion
In healthcare, the Ayushman Bharat scheme may extend benefits to all individuals aged 60 and above, broadening access beyond the current limit of those over 70. This move would strengthen protective measures for seniors, promoting wider health security.
Finance Minister Nirmala Sitharaman is set to unveil the budget on February 1, outlining these and other measures to drive economic growth and public welfare.
