Union Budget 2025: Will standard deduction limit be increased under the old, new tax regime?

As Budget 2025 nears, experts anticipate a possible hike in the standard deduction for salaried individuals and pensioners, potentially increasing it to Rs 1 lakh or more. This would provide significant tax relief and boost disposable income. Experts believe increasing the deduction will positively impact consumer spending and the economy, amidst the government's fiscal priorities.