Income Tax Budget 2025 Expectations Live: FM Nirmala Sitharaman to introduce changes in new tax regime, income tax relief for the middle class? Changes in income tax slabs on wishlist for Union Budget 2025-26

India Budget 2025 Income Tax live Updates: Prime Minister Modi invoked blessings from goddess Lakshmi for both poor and middle-class citizens during the Budget session inauguration. Are substantial tax benefits approaching for the Indian middle class? For years Indian middle-class taxpayers anticipated substantial income-tax-related reliefs but received only limited benefits. The announcement from PM Modi suggests the 2025-26 budget will bring substantial tax relief measures for the middle-class group.

The Indian President Draupadi Murmu revealed during union budget 2025 speech that six crore senior citizens aged 70 years or older will receive health insurance coverage under the Ayushman Bharat Scheme.

India Budget 2025 Income Tax live Updates: The Economic Survey which is shown before the budget functions as an essential pre-budget report that presents India's present economic condition together with its future prospects. The Lok Sabha will receive both Hindi and English versions of the Economic Survey at 12 pm followed by its presentation in the Rajya Sabha at 2 pm.

According to Prashant Tripathy who serves as Managing Director and CEO of Axis Max Life we expect future-oriented policy decisions in the upcoming income tax expectations union budget which should strengthen India's financial system while helping achieve Viksit Bharat by 2047.

Establishing a distinct standard deduction for life insurance coverage under Section 80C and making this benefit applicable in the New Tax Regime will strengthen financial protection while extending social security to a larger population group.

India union budget 2025 expectations: Certain studied individuals and taxpayers are of the opinion that FM Nirmala Sitharaman will lift disposable income in the upcoming budget.