To add to @Hima's answer, if you want to modify a current x or y limit you could use the following.
import numpy as np # you probably alredy do this so no extra overhead
fig, axes = plt.subplot()
axes.plot(data[:,0], data[:,1])
xlim = axes.get_xlim()
# example of how to zoomout by a factor of 0.1
factor = 0.1
new_xlim = (xlim[0] + xlim[1])/2 + np.array((-0.5, 0.5)) * (xlim[1] - xlim[0]) * (1 + factor)
axes.set_xlim(new_xlim)
I find this particularly useful when I want to zoom out or zoom in just a little from the default plot settings.