Finance Minister Nirmala Sitharaman is set to present her fourth union budget on February 1, 2022. Some analysts feel that the finance minister may announce major relief to taxpayers. The expected relief include an increase in the basic exemption limit from Rs 2.5 lakh to Rs 3 lakh and for senior citizens, it is likely to be increased to Rs 3.5 lakh from the present Rs 3 lakh. According to a pre-budget survey conducted among different stakeholders by KPMG recently, the majority (64 per cent) of respondents expect an enhancement in the basic income tax exemption limit of Rs 2.5 lakh. Sitharaman…