Union Budget 2026 Recommendations by FIEO
Recommendations by FIEO on Union Budget 2026
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Recommendations by FIEO on Union Budget 2026
Budget 2026 Income Tax Change Expectations : Like every Union Budget, this year too taxpayers are carrying a long wishlist for Budget 2026-27, and tax relief is right at the top.
India’s income-tax system is built around individual taxation, with separate exemption limits and deductions for each taxpayer. Marriage does not change this treatment, and spouses continue to file and pay taxes independently, even though most households function with shared incomes, expenses, and financial priorities.
Ahead of the Union Budget FY27, the Indian Staffing Federation has urged the Finance Ministry to reduce GST on staffing services to 5 per cent from 18 per cent, classify them as “merit services” and introduce a women-specific slab under Section 80JJAA of the Income tax Act.
Expectations are high for further rationalisation of income tax slabs, an increase in standard deduction, enhanced rebates, and new incentives to boost household spending and long-term investments.
The Finance Bill is likely to prescribe at least five changes in Goods and Services Tax laws to further facilitate ease of doing business. These amendments are based on GST Council’s recommendations.
Increasingly, global trade has been influenced by geopolitical and economic factors, with tariffs playing a significant role in enhancing economic security for countries.
India is preparing a fresh round of customs duty reforms in the FY27 Union Budget to speed up cargo movement at ports and further rationalise the tariff structure, people familiar with the matter told Mint. The measures are expected to make cross-border trade simpler, faster and more cost-effective.
The Department of Economic Affairs (DEA) on Friday announced that the pre-budget meetings will be commencing from October 9, 2025 and continue till mid-November.