New Delhi: The countdown has begun. With the Parliament’s Budget Session officially underway, Finance Minister Nirmala Sitharaman is set to present the Economic Survey 2025-26 today, January 29. This document will set the stage for her ninth consecutive Union Budget on Sunday, February 1, a rare Sunday presentation for the House.
While the salaried class waits with bated breath for tax relief, rising geopolitical tensions are expected to heavily influence a massive hike in defence allocations.
The “Tax Relief” Hope: What Salaried Employees Want
For the common man, the Budget is synonymous with Income Tax tweaks. With inflation biting, the demand for higher disposable income is louder than ever.
- Standard Deduction Hike: Sources suggest the government may raise the Standard Deduction from ₹75,000 to ₹1,00,000 under the New Tax Regime to make it the undisputed choice for taxpayers.
- 80D Limit: A revision in the health insurance premium deduction limit (Section 80D) is likely, given rising medical inflation.
- Old vs New: While the push is towards the New Tax Regime, clarity is expected on whether the Old Regime will see its final sunset or remain as an option for one more fiscal year.
Defence: The ‘Atmanirbhar’ Factor
This year’s defence budget is not just about numbers; it is about a new doctrine of self-reliance.
- Modernization Strategy: Following recent global conflicts and border volatility, the allocation is expected to pivot towards “offensive defence” capabilities.
- Made in India: Expect announcements for new indigenous drone fleets and missile systems, validating the “Victory Through Jointness” theme showcased at the recent Republic Day parade.
Railways: Safety Over Speed?
After a year of mixed headlines for the Indian Railways, the focus is shifting.
- Kavach 4.0: A significant portion of the projected ₹2.8 lakh crore railway capex will likely go towards the rapid rollout of the upgraded Kavach anti-collision system.
- Vande Bharat Expansion: While new routes are a given, the budget may introduce a “Vande Metro” specifically for short-distance inter-city commuters.
Economic Survey Today: The Growth Report Card
Later today, Chief Economic Advisor V. Anantha Nageswaran will release the Economic Survey.
- The Magic Number: Markets are pricing in a real GDP growth projection of 6.8% to 7.4% for FY27.
- Focus Area: Look for chapters dedicated to “AI in Governance” and “Green Energy Transition” as key pillars of the survey.
Key Highlights
- Critical Date: Feb 1, 11:00 AM (Budget Speech).
- Who is Affected: Every taxpayer, commuter, and investor in India.
- Immediate Action: Watch for the Economic Survey tabling today at 2:00 PM for the first official signals.
FAQ Section
A1: Yes. February 1, 2026, falls on a Sunday. The Budget presentation will proceed as scheduled at 11:00 AM, which is a rare occurrence in Parliamentary history.
A2: Expectations are high for increased funding toward indigenous technology (drones, AI) and border infrastructure, driven by the government’s ‘Atmanirbhar Bharat’ initiative.
A3: There is no official confirmation yet. However, the government’s policy thrust has been to make the New Tax Regime the default and more attractive option.
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