The RBI is expected to cut the repo rate by 25bps in February, easing borrowing costs for the middle class. Analysts predict a total reduction of 100bps in the current cycle, fostering economic growth amid favorable inflation projections.

Finance Minister Nirmala Sitharaman said that the the tax proposal will allow people to have more money in their hands.

Finance Minister Nirmala Sitharaman announced no income tax payable up to Rs 12 lakh under the new regime, offering significant relief to the middle class. The new tax slabs include 5% on Rs 4-8 lakh,

Highlights: FM Nirmala Sitharaman's announcement on February 1 brings a gift for the Indian middle class with no tax payable up to ₹12 lakh income.

As Nirmala Sitharaman presents her eighth consecutive budget, the salaried class will be expecting some relief in income tax rates.