No. The Lok Sabha Speaker has confirmed that, in keeping with parliamentary tradition, the Budget will be presented on 1 February, even though it falls on a Sunday.

Standard deduction: There is strong speculation that the standard deduction for salaried employees could be increased from Rs 75000 to Rs 100000. New Tax Regime: The government is keen to further promote the New Tax Regime. Annual income up to Rs 13 lakh could effectively be made tax-free through rebates and exemptions. Joint taxation: Discussions are underway on allowing spouses to file a joint income tax return, which could help reduce the overall tax burden on families.

Experts believe the Old Tax Regime will not be abolished immediately. However, the government appears to be gradually making it less attractive to encourage taxpayers to shift to the New Tax Regime. There have also been suggestions to increase the Section 80C limit from Rs 1.5 lakh to Rs 3.5 lakh, though no final decision has been taken.

The railways may receive over Rs 2.8 lakh crore, representing an increase of around 8%. Key priorities are expected to include the Kavach safety system and Vande Bharat sleeper trains. Allocations may also be raised for new expressways and the completion of stalled infrastructure projects. To position India as a global AI hub, the technology sector could receive significant incentives.

The smartphone industry has urged the government to reduce import duties. If customs duties on components are lowered, prices of mobile phones and other electronic gadgets could fall after February 1.

The Budget Session is likely to begin on January 28, 2026, starting with the President’s address. The Economic Survey will be tabled on January 31, 2026.