I think an income of upto Rs. 5 lakhs should be tax free for male because this would leave the people free to choose what they want to do with their money. Like in most cases, there is only single bread earning member in the family with 2 /3 minimum dependants. Hence, this will automatically give money to people to choose whether they would like to spend on consumer goods, on travelling, to buy medical as well as other isurance, ULIPs etc. And according to me the deduction under 80C should be doubled to 2,00,000 per annum of investment that would encouarge people to save with a proportional increase in 80D, etc.
