New Delhi : Finance Minister Pranab Mukherjee announced further relief to individual taxpayers by increasing the exemption limit to two lakh rupees giving tax relief upto 2,000 rupees to every taxpayers. Amidst thumping of desks by members he also proposed to increase the 20 percent tax slab to 10 lakh rupees.

To boost savings, he announced 10,000 rupees of deduction of interests earned from savings bank account. Mukherjee also proposed 5,000 rupees more deduction for preventive health check-up. Senior citizens need not pay advance tax if they do not have any income from business.