Listening to the reactions of people to the FY26 Union Budget, it seemed as if Diwali had come early this year. The reason for the smiles and the palpable relief was the huge leap of faith the finance minister took to leave over ₹1 lakh crore in the pockets of the income-tax-paying Indian citizen by making incomes up to ₹12.75 lakh tax-free and taking the base of the highest tax slab of 30% to ₹24 lakh, up from the current ₹15 lakh.
