Finance Minister Nirmala Sitharaman said the government will forgo ₹7,000 crore revenue with the changes in personal tax slabs. She announced no tax under the new regime for those earning up to ₹3 lakh, 5% tax for those earning between ₹3-₹7 lakh yearly and those earning ₹7-₹10 lakh to be taxed 10%.15% tax announced for those earning ₹10-₹12 lakh.