1 Feb 2026
Union Budget 2026: ₹12 lakh income-tax rebate ceiling
UPSC
Banking
SSC
Economy
Budget
Summary
The 2026 Union Budget introduced a full income-tax rebate for individuals earning up to ₹12.75 lakh annually. Capital expenditure was raised to ₹12.2 lakh crore with a 4.3% fiscal deficit target. Seven high-speed rail corridors and India Semiconductor Mission 2.0 were announced.
Why it matters
Single biggest direct tax shift for the salaried middle class in years. UPSC GS-3 (economy), Banking Awareness, and SSC current affairs all draw from budget announcements. Focus on the new tax slab, capex push, and the SME Growth Fund.