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The Finance Minister has done justice to salaried class by increasing the income limit for tax attraction from Rs.1.1 lakh-1.5 lakh. The proposal to alter the slabs is a welcome move. At present, up to Rs 1.5 lakh, the tax rate is 10 per cent whereas the new slab is from Rs 1.5 lakh-3 lakh. Likewise the income slab for 20 per cent tax is changed as Rs 3 lakh-5 lakh. The fact that an individual with an annual income of Rs 5 lakh will be benefited by minimum amount of Rs 44 ,000 towards tax saving is not a small thing. Because of the changes in the income slabs, more employees will be benefited. The increase in the tax exemption limit for health insurance premium (Section 80 D) is also laudable. Rs 60,000-crore debt waiver for farmers is a bold step.

P.P. Mohanan, Kerala State General Secretary, General Insurance Officers All India Association, Kochi.

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