Budget 2026 Expectations Highlights: FM Sitharaman’s Budget in focus amidst Trump’s tariff threats; more income tax relief coming?

Budget 2026 Expectations Highlights: Union Budget 2026 will be presented by Finance Minister Nirmala Sitharaman on February 1, 2026. This is the first time in recent history that the Budget will be presented on a Sunday. The Narendra Modi 3.0 government’s second full year Budget comes at a time when the world is reeling from pressures piled on by the global trade war unleashed by US President Donald Trump. The uncertain trade policies and geopolitical uncertainties have made it necessary to step up domestic economic push and shield the economy from external headwinds. Like every year, taxpayers are also looking at FM Sitharaman to provide additional income tax relief and reduce complexities related to tax compliance. Last year FM Sitharaman announced major changes in the new income tax regime, and hence most tax experts do not expect any significant moves on that front. What will Budget 2026 focus on? Track TOI’s live coverage on major Budget 2026 expectations: