Budget 2026 today: Will gold and silver get cheaper? Big relief hoped for taxpayers as India awaits Nirmala Sitharaman’s speech at 11 am

What happened: India will present the Union Budget 2026 today, with Finance Minister Nirmala Sitharaman set to deliver her ninth Budget speech at 11 am.

Why it matters now: Expectations are high for major tax relief, possible duty cuts on gold and silver, and support measures for the middle class.

What changes for people: Salaried taxpayers may get income tax exemption up to 13 lakh, and essential items could become cheaper depending on duty revisions.

Who is affected: Middle-class families, farmers, small businesses, and consumers of gold and silver are watching closely.

All eyes on Budget 2026 as India anticipates key middle-class relief

India is set for key economic announcements today as Finance Minister Nirmala Sitharaman presents the 2026 Union Budget in Parliament. The announcement, which begins at 11 am, is expected to outline reforms aimed at easing financial pressure on salaried households, reviving consumption, and stabilizing market sentiment amid global uncertainty.

Speculation is strong that the government may unveil up to five major relief measures, with a spotlight on tax cuts, rationalized duties, and expanded welfare payouts.

Income tax overhaul likely the biggest headline

One of the biggest expectations this year is a substantial revision in the new tax regime. Officials and policy observers suggest that the standard deduction may be increased from ₹75,000 to ₹1 lakh, creating space for a tax-free income slab up to ₹13 lakh for salaried individuals.

If implemented, this would be the largest income-tax relief announced in recent years and could significantly boost disposable income for crores of taxpayers.

Gold and silver may become cheaper

Another major area of interest is the government’s stance on import duties for precious metals. With strong domestic demand and rising global prices, the Budget may consider lowering import duty on gold and silver, making them more affordable for consumers.

Jewellery traders and bullion markets are closely tracking the announcement, as even a small reduction in duty can impact prices nationwide.

Today’s expected schedule

8–9 am: Finance Minister leaves her residence for North Block

9–10 am: Meets the President with Budget documents

10–11 am: Arrives at Parliament

11 am: Budget speech begins

1–2 pm: Finance Minister addresses post-Budget press conference

(Schedule is indicative)

Five major measures likely for the middle class

Income tax relief

The new tax regime may see a higher standard deduction and a 13 lakh tax-free slab for salaried workers.

PM-Kisan payout increase

The government may raise the PM-Kisan annual support from ₹6,000 to ₹9,000, a revision under discussion for nearly three years.

More announcements are expected during the speech.