India, Feb. 1 -- The Narendra Modi-led government unveiled the most middle class-friendly budget it has ever presented on Saturday, announcing a rebate that will mean people who earn up to Rs.12 lakh a year ( Rs.12.75 lakh for those with only salary income) pay no tax under the New Tax Regime, responding to a demand from a very vocal and substantially electorally relevant middle class. The tax relief - at the upper end of the relevant income segment, it translates into around Rs.10,000 in incremental discretionary income every month - instantly led to a surge in sentiment (evident in the way members of the middle class responded to the budget), and may well help the Bharatiya Janata Party (BJP) in the coming Delhi elections since the Capi...