Budget 2017: How Jaitley became the darling of the middle classes

From slshing of income-tax rates to filing made simpler, Jaitley delivered plenty of good news

Giving details of proposals on personal income tax, the Finance Minister Arun Jaitley on Wednesday said that the existing rate of taxation for individual applicants whose income ranges between Rs 2.5 lakh and Rs 5 lakh will be reduced to 5% from the present rate of 10%. 

This would reduce the tax liability of all persons below Rs 5 lakh income either to zero (with rebate) or 50% of their existing liability.  In order not to have duplication of benefit, the existing benefit of rebate available to the same group of beneficiaries is being reduced to Rs 2,500 available only