New Delhi, Jan. 27 -- Mild cuts in personal Income Tax rates to boost consumption and concessional Corporate Tax scheme for manufacturing hubs and FDIs to push the 'Make in India' strategy are likely in Budget 2025-26 with the government aiming to push economic growth, according to a private sector report. "Watch for higher customs duty on gold and easier FDI norms. Some tweaks in the personal Income Tax slabs could be done to focus on increasing disposable income for the middle-income strata," the report by Emkay Global Financial Services states.

"We will watch for some sweeteners in personal tax rates, concessional corporate tax scheme for manufacturing hubs/FDIs, possibly higher import tariffs on China-sensitive products, while loweri...