This is going to be the last full-fledged budget of the Modi government. The middle-class is a massive votebank for the BJP. Against this backdrop it might be highly possible that the government tweaks the Income Tax rates a little.
There is another possibility and that is hiking the 80C limit to Rs 2 lakhs. This may happen as last year the government did not tinker with the 80C limits. It would be a surprise if the government does not tweak either of the two in a country that is slated for elections in the next 15 months or so. Some giveaways are likely and one will have to wait and watch.