Thiruvananthapuram: Union Finance Minister Nirmala Sitharaman is set to present the Union Budget today (Feb 01) at 11 AM. This marks the second budget of the Modi government's third term and the eighth budget presented by Sitharaman. Taxpayers across the country are hopeful for increased income tax exemptions this time. Additionally, Kerala has high expectations regarding this year's central budget.No change in domestic LPG prices, but commercial cylinder costs reduced by Rs 6.50Kerala has high expectations from this Union Budget, with several key demands put forth to the central government. These include Rs 5,000 crore for the continued development of the Vizhinjam Port, a Rs 2,000 crore special rehabilitation package for Wayanad, and a Rs 24,000 crore special economic package.Additionally, Kerala has requested the continuation of GST compensation. The state is also seeking an Rs 800 crore special package for government vehicles as an alternative to the central scrap policy and Rs 4,500 crore to address challenges arising from climate change and Rs 2,329 crore to combat coastal erosion.As usual, Kerala has put forth several demands, but there is no certainty about which, if any, will be approved. Meanwhile, the tech community in Kerala is eagerly anticipating the Union Budget, hoping for increased focus on AI and startups. Employees at Technopark, Thiruvananthapuram, have expressed optimism that this year’s budget will prioritize these sectors.