New Delhi is buzzing with anticipation as the Union Budget 2026-27 approaches, just under two weeks away. Tax experts are urging the government to prioritize easing business operations, making it simpler for traders to conduct their affairs compared to previous years.
In an exclusive conversation, tax specialist Manmohan Srivastava emphasized that the previous budget raised the income tax exemption limit to Rs 12 lakh, providing significant relief to the common public. Additionally, GST 2.0 simplified the structure by reducing slabs to just two.
For the upcoming budget, Srivastava recommends a strong focus on enhancing ease of doing business. Traders currently face hurdles on the GST portal, including frequent notices that many fail to check regularly, leading to excess tax payments. He suggests reviving physical correspondence for closed cases to address this.
Echoing calls for inclusivity, expert Zenab advocates for increased opportunities for women, particularly in medicine and other sectors. She stresses the need for safety measures and schemes to encourage higher education among women.
Finance Minister Nirmala Sitharaman will present this budget on February 1 in Parliament, marking her ninth consecutive presentation. She has already surpassed C.D. Deshmukh’s record of seven budgets. Presenting the 2028 budget would equal late Morarji Desai’s 10 budgets across two terms.