evidence: Home / Economy / News / Namonomics vs Manmohanomics: Modi or Singh, who has done better on economy? [...] Former PM Manmohan Singh (left) and PM Narendra Modi (File Pic) [...] While listing the many achievements of the Narendra Modi government over the past 10 years, Finance Minister Nirmala Sitharaman last week claimed well-deserved credit for the way income-tax rates have been reduced and rationalised during this period. "Under the new tax scheme, there is no tax liability for taxpayers with income up to Rs 7 lakh, up from Rs 2.2 lakh in the financial year 2013-14," she said in her Interim Budget speech on February 1. The old tax scheme, which has not yet been discontinued, restricts the benefit of zero liability to those with annual