Middle class likely to get tax relief in upcoming Budget Middle class can hope for a big relief in 2018-19 Budget, which will also be the last regular Budget of the NDA government, as the finance ministry is contemplating to hike personal tax exemption limit and tweak the tax slabs, according to sources The proposals before the ministry is to hike the tax exemption limit from the existing 2,50,000 per annum to at least Rs 3,00,000 if not Rs 5,00,000, they said. Besides, the tinkering of tax slab is also being actively considered by the ministry to give substantial relief to middle income group, especially the salaried class, to help them tide over the impact of retail inflation, which has started inching up. In the last Budget, Finance Minister Arun Jaitley left the slabs unchanged but gave marginal relief to small tax payer by reducing the rate from 10 per cent to 5 per cent for individuals having annual income between Rs 2,50,000 and Rs 5,00,000. In the next Budget to be