Updated On: 27 January, 2025 07:09 PM IST | Mumbai | mid-day online correspondent
On the suggestions front a user urged reforms such as tax exemption for incomes up to Rs 10 lakh, GST exemption on insurance, increased home loan deductions, and reduced GST small cars from 28 per cent to 18 per cent

The "bahi-khata” held by Finanace Minister Nirmala Sitharaman. (Pic/PTI)
As the Union Budget 2025-26 nears, citizens have taken to social media to voice their expectations and predictions ahead of its presentation by Finance Minister Nirmala Sitharaman on February 1, 2025, at 11 am in the Lok Sabha.
This budget marks the second under the BJP-led NDA government’s third term. Among the predictions, a user on X (formerly Twitter) with the handle @lord42012 made seven notable points. These include capital gains tax rates set at 25 per cent for long-term and 15 per cent for short-term, a special package for Bihar and Andhra Pradesh, and the potential elimination of the old tax regime.