The Mint article, published on January 14, 2026, accurately reports on expert recommendations for improving India's New Tax Regime ahead of the Union Budget 2026. Finance Minister Nirmala Sitharaman is scheduled to present the Budget on February 1, 2026, a Sunday, marking a historic first in India's parliamentary history. The Budget Session for 2026 is slated to run from January 28 to April 2, 2026. Experts are advocating for several changes to make the New Tax Regime more attractive and competitive compared to the Old Tax Regime. Key suggestions include increasing the standard deduction limit, particularly for salaried individuals, and introducing deductions for employee contributions to the National Pension System (NPS), especially for non-salaried taxpayers. Many also propose reintroducing deductions for home loan interest under Section 24(b) to incentivize homeownership. Additionally, adjusting tax slab rates to account for inflation is a recurring recommendation to benefit a wider segment of taxpayers. Some experts also highlight the need for limited deductions for medical insurance premiums to enhance the regime's appeal. It's noted that the New Tax Regime already underwent significant liberalization in Budget 2025 (for FY 2025-26), where tax rebates were increased, making income up to ₹12 lakh effectively tax-free, and up to ₹12.75 lakh for salaried individuals with a standard deduction. This led to a substantial increase in its adoption, with approximately 72% of taxpayers opting for it for AY 2024–25. While there's a governmental long-term intent to simplify the tax system, most experts believe a sudden discontinuation of the Old Tax Regime is unlikely, with a gradual phase-out being a more probable scenario. The article accurately reflects the ongoing discourse and expectations from various stakeholders in the financial sector regarding the upcoming budget's tax reforms.