New Delhi, Jan. 29 -- 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.

The Budget on February 1 will come on the back of the government again overachieving its gross fiscal deficit target in FY25 at 4.7 per cent of the GDP vs 4.9 per cent in FY25 (RE) amid solid personal Income Tax revenue stream.

In line with the fiscal glide path, FY26 fiscal deficit to GDP ratio will be targeted at around 4.5 per cent. This trend of the government overachieving its fiscal target has been seen over the last few years, according to a report by Emkay Global ...