Budget 2026: What Can Middle Class Expect From Finance Minister? Will The Budget Be Populist?

New Delhi: People want relief for the middle class in the budget, tax breaks, and special schemes for women, farmers, and entrepreneurs. They also want the budget to have a direct impact on the lives of ordinary citizens. This information emerged from a Mint survey. Finance Minister Nirmala Sitharaman will present the Union Budget 2026-27 on February 1st.

The survey sought opinions on issues such as changes in tax slabs, expectations from the budget, populist measures, and the need for schemes for women and farmers. When asked about their biggest priority, the option of lower tax rates for the middle class was the most popular, receiving 23% of the votes.

This comes after significant relief in income tax slabs and a reduction in GST rates last year. Approximately 22% of people said that job creation for youth should be a priority in the budget. Participants were allowed to choose only one option from the seven provided. Health and education (19%), infrastructure development (13%), and controlling the fiscal deficit (11%) were priorities for relatively fewer people.

Will tax cuts receive public approval?

Last year, the government announced significant relief in personal income tax under the new tax regime. The increase in the rebate under Section 87A raised the tax-free income limit to ₹12 lakh, while for salaried taxpayers, this limit reached ₹12.75 lakh after the standard deduction. Approximately 60% of people expressed satisfaction with these changes, with 18% being completely satisfied and 42% largely satisfied. Furthermore, 57% said that these tax cuts had a clear impact on their daily lives.

Demand for a populist budget persists: The demand for a populist budget in the upcoming budget remains strong. About 35% are completely in favor of a populist budget, while 28% want a somewhat populist budget. Priority Groups

Around 67% of women are in favor of schemes for them. This support is over 75% for farmers. For entrepreneurs and startups, this demand is even higher, exceeding 80%. This demand comes at a time when several government schemes are already in place for these groups.

Will short-term plans be preferred?

People prefer short-term plans in the budget. When asked about the time horizon the government should consider while formulating budget policies, 58% said the government should not look beyond five years. 26% suggested a 10-year timeframe. Only 16% believed the government should plan for 20 years or more.

Why does Budget 2026 matter?

Six out of ten people said that previous budgets had a direct impact on their lives. When asked if the budget is overhyped, 45% said it is not. 30% felt the budget is overhyped.

Around 74% want some relief in the new tax regime. Meanwhile, approximately 70% demanded an increase in the Rs 1.5 lakh exemption limit under Section 80C of the Income Tax Act under the old tax regime. People do not want the budget to focus solely on pleasing large industries; it should maintain its focus on the salaried middle class.

How was the survey conducted?

This online survey was conducted between December 4, 2025, and January 26, 2026. A total of 1,674 people participated. Approximately 72% were from 15 major Tier-1 and Tier-2 cities across the country, including Delhi, Mumbai, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Ahmedabad, Lucknow, Jaipur, Surat, Chandigarh, Kanpur, and Indore. Over 85% of the respondents were male.

Approximately 49% were from the salaried class, 12% were business owners, and 21% were students. Over 28% of respondents reported an annual income of more than ₹15 lakh, while nearly 60% had an annual income of ₹10 lakh or less. Approximately 54% were between the ages of 25 and 50.