Slowing economic growth, tepid tax collections and a contraction in consumption demand have left the Finance Minister with little elbow room to make sweeping changes in Budget 2020. Additionally, the host of measures announced by the Finance Minister over the last six months in an attempt to boost economic activity have put pressure on the government’s fiscal math. However, it is important to recognise that most of the measures announced have focused on giving an impetus to supply side activity. Unfortunately, the government’s efforts to transmit the benefits of lower rates to the end consumer have met with limited success. In such a scenario, the government may announce tax benefits for individual taxpayers, especially the middle-class taxpayers. The Finance Ministry has said that they are considering suggestions for the upcoming budget, and relaxing personal income tax rates have been one of them. While there might be some tweaks to the income tax slabs/rates and/or changes to the limit on deductions allowed under section 80C of the Income Tax Act, it is unlikely that the government will make any large tax cuts.