Finance Minister Nirmala Sitharaman on Saturday made history as she presented a record eighth consecutive budget, which comes in the backdrop of a slowdown in the economy. All eyes were on potential income tax cuts or tweaks to ease the burden on the middle class, struggling with high prices and stagnant wages. Responding to growing calls to ease the middle class tax burden, Finance Minister Nirmala Sitharaman announced no personal income tax on incomes up to Rs 12 lakh Our expert Prof Anil Sood explains how.