India, Jan. 23 -- As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2026 on February 1, 2026, individual taxpayers are watching with cautious optimism. As the last significant fiscal statement before the new Income-tax Act takes effect on April 1, 2026, this budget is in a unique position to lay the ground for a significant change in India's direct tax system.

Presented against a backdrop of global economic uncertainty and volatile markets, the budget is expected to prioritize stability. However, the cost-of-living pressure and ongoing inflation have sparked particular demands from India's middle-class salaried population, who want policies that will boost their net discretionary income.

Although sweeping struc...