Like every year, this time too the expectations of the middle class were sky high before the general budget. Amid rising inflation, home loan EMIs, children’s education and health expenses, lakhs of people hoping for tax relief had their eyes fixed on the Parliament on 1 February. While presenting Budget 2026, Finance Minister Nirmala Sitharaman described it as focused on the common man, women, farmers and youth, but when the middle class started looking for their share of relief, they were disappointed. Neither the tax slabs changed, nor any extra rebate on investment nor any major relief to the stock market investors. Let us know those 5 big expectations which were dashed in Budget 2026.
1. No change in income tax slab
The biggest hope of the middle class was increase in income tax exemption. In the last budget, under the new tax regime, income up to Rs 12 lakh was made tax free. This time there was speculation about increasing it to Rs 14 lakh and increasing the standard deduction from Rs 75 thousand to Rs 1 lakh, but the government did not make any change in the tax slab.
2. Hope of exemption on investment dashed in the new tax regime
To make the new tax system more attractive, there was a demand to give tax exemption on schemes like PPF, NPS and ELSS. However, no concession was given on these in Budget 2026. This exemption is still limited to the old tax regime only.
3. Farmers do not want increase in PM Kisan
The rural and farming community expected that the PM Kisan Samman Nidhi would be increased from Rs 6,000 to Rs 12,000. Apart from this, there was hope of some big announcement regarding MSP, but there was no relief on both these fronts in the budget.
4. Senior citizens also disappointed
Senior citizens had expectations like relaxation in railway fares, relief in insurance schemes and increase in TDS limit. Although only a new rail corridor was announced in the budget, no separate major benefit was given for senior citizens.
5. Shock to stock market investors
Transaction charges on F&O trading were increased in Budget 2026, due to which traders are disappointed. There was no reduction in LTCG and STCG tax, even though investors were expecting relief.
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