evidence: Currently, income up to Rs 2.5 lakh is exempt from personal income tax. Income between Rs 2.5-5 lakh attracts 5 percent tax, while that between Rs 5-10 lakh is levied with 20 percent tax. Income above Rs 10 lakh is taxed at 30 percent. Rs 5 lakh exemption is only applicable to individuals of over 80 years. If the Finance Ministry implements the decision to double the income tax exemptions from the current slab of Rs 2.5 lakh to Rs 5 lakh, it will help the common man to save more. Additionally, an increase in tax limit will kickstart savings which will ultimately lead to an increase in investment and liquidity in the system. [...] In the 2017 Budget, Jaitley had proposed to reduce the existing rate of taxation of those with income between Rs 2.5 lakh to Rs 5 lakh from 10 percent to 5 percent.