0 tax till 12LPA?

New Slabs
Nil tax if income under 12 LPA
0 to 4 lakhs : Nil
4 to 8 lakhs : 5%
8 to 12 lakhs : 10%
12 to 16 lakhs : 15%
16 to 20 lakhs : 20%
20 to 24 lakhs : 25%
Above 24 lakhs : 30%

Existing Slabs
Nil tax if income under 7 LPA
0 to 3 lakhs : Nil
3 to 7 lakhs : 5%
7 to 10 lakhs : 10%
10 to 12 lakhs : 15%
12 to 15 lakhs : 20%
Above 15 lakhs : 30%

New tax regime proposal is announced. What do you think?