Budget 2026: Big Relief for Middle Class? Tax Cuts, EMI Ease, Job Boost Expected

• Income tax 30% slab limit may increase from ₹24 lakh to ₹40-50 lakh, potentially saving 5-10% for salaried individuals.
• Standard deduction in New Tax Regime could rise to ₹1 lakh, and Section 80D limit for health insurance to ₹50,000.
• Government might reintroduce home loan interest exemption in New Tax Regime, potentially increasing the limit to ₹3-5 lakh.
• New scheme for subsidies/interest relief on home loans up to ₹2 crore for middle and lower-income groups is anticipated.
• Focus on job creation with PLI schemes for labor-intensive sectors, aiming for 20-25 lakh new jobs, plus skill development.

Why It Matters: Budget 2026 likely to bring significant financial relief to middle class through tax cuts, housing, and jobs.