14:54
Finance Minister Nirmala Sitharaman addressed the media on Friday afternoon, after unveiling Modi 2.0's first Budget earlier in the day. Among the key takeaways from what she said were:Emphasis in Budget 2019 is on overall development of the economy, of both rural and urban areas. Emphasis...
13:51
The middle class will progress with this Budget, development work will expedite even more. The tax structure will simply and infrastructure will modernise, says Prime Minister Narendra Modi in his reaction to Finance Minister Nirmala Sitharaman's maiden Budget presented in the Lok Sabha today.
13:32
Surcharge on individuals having taxable income from Rs 2 crore to Rs 5 crore and Rs 5 crore and above to be enhanced, so that the effective tax rate will increase by around 3% and 7% respectively, says Sitharaman.
13:29
To provide further impetus to affordable housing, an additional deduction of Rs 1.5 lakh on interest paid on loans borrowed up to March 31, 2020, for purchase of house up to Rs 45 lakhs has been provided, says Sitharaman.
13:26
Cess on petrol, diesel raised by Re 1 per litre; customs duty on gold raised to 12.5 pc from 10 pc.The FM also levied 5% customs duty on imported books.
13:08
To resolve the so-called Angel Tax issue, the startups and their investors who file requisite declarations&provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums, says Sitharaman.
12:59
To discourage making business payments in cash, 2% TDS on payments exceeding Rs 1 crore in a year, says Sitharaman.
12:56
Government has decided to modify present policy of retaining 51 pc govt stake in PSUs including that of government institutions: Government is considering whether its holding can go below 51 per cent in certain CPSEs on case to case basis, says Sitharaman.
12:54
Nirmala Sitharaman says PAN and Aadhaar card will be inter-changeable to file Income-Tax returns.
12:51
Additional income tax deduction of Rs 1.5 lakh on interest paid on loans taken to buy electric vehicles. This leads to a benefit of Rs 2.5 lakh crore over the tax period of the loan for the loan payer, says Sitharaman.
12:47
Government to bring exchanged traded funds in line with equity linked savings schemes of mutual funds to encourage retail investors, says Sitharaman.
12:44
Corporate tax rate of 25% extended to all companies having annual turnover up to Rs 400 crore, announces Sitharaman.
12:38
I propose to consider issuing Aadhaar cards for Non Resident Indians with Indian passports after their arrival in India without waiting for the mandatory 180 days, says Sitharaman.
12:34
'Gandhipedia' is being developed to sensitize the youth about positive Gandhian values, says Sitharaman.
12:32
Mission for integrating traditional artisans and their creative products with global markets to be launched; patents and Geographical Indications to be obtained for them where necessary, says Sitharaman.
12:28
To further encourage women entrepreneurship, women SHG interest subvention programme to be expanded to all districts in India, says Sitharaman.
12:24
Exclusive TV programme exclusively for startups to be started, channel will be designed and executed by startups themselves, says Sitharaman.
12:22
To popularise sports at all levels, a National Sports Education Board for development of sportspersons to be set up under Khelo India, says Sitharaman.
12:22
To give further impetus to India's growing influence and leadership in the international community, the government has decided to open Indian embassies and high commissions in countries where India doesn't have a resident diplomatic mission as yet, says Sitharaman.
12:20
Major economies to face labour shortage. India to focus on training new age skills like AI, robotics, 3D printing, says Sitharaman.
12:18
'I draw attention to the women of India, 'Naari tu Naraayani'. This government believes that we can progress, with greater women participation,' says Sitharaman.
12:17
Under PMAY (Urban), over 81 lakh houses with investment of about Rs 4.83 lakh cr have been sanctioned of which construction has started in about 47 Lakh houses. Over 26 Lakh houses have been completed of which nearly 24 Lakh houses have been delivered, to beneficiaries, says Sitharaman.
12:15
New National Educational Policy to be brought in to transform Indian educational system; major changes in higher as well as school system to be brought in.A National Research Foundation to be set up to strengthen overall research ecosystem in the country; funds available under all ministries to...
12:12
Government to streamline multiple labour laws into a set of four labour codes, says Sitharaman.
12:09
With the changing economic scenario it's important to upgrade roads connecting villages to rural markets. For this Pradhan Mantri Gram Sadak Yojana phase 3 is envisaged to upgrade 1,25,000 km of road length over the next 5 years, says Sitharaman.
12:07
Under Pradhan Mantri Grameen Digital Saksharata Abhiyan, BharatNet is targeting internet connectivity in local bodies in every panchayat in the country; this will be speeded up under the Universal Service Obligation Fund, says Sitharaman.
12:05
Sitharaman praises farmers for making India self-sufficient in pulses, hopes for success in oilseeds as well.
12:04
80 livelihood business incubators and 20 technology business incubators to be set up in 2019-20 under ASPIRE to develop 75,000 skilled entrepreneurs in agro-rural industries, says Sitharaman.
12:01
The Jal Shakti ministry will work with states to ensure Har Ghar Jal for all rural houses by 2024, under the Jal Jeevan Mission, says Sitharaman.
12:00
We will invest widely in agricultural infrastructure. We will support private entrepreneurship in driving value addition to farmers produce and those from allied activities too, like bamboo, timber and also for generating renewable energy. Annadaata ko kyun oorja daata bana nahi sakte?, says...
11:57
9.6 crore toilets have been constructed since Oct 2, 2014. More than 5.6 lakh villages have become open defecation free.We have to build on this success. I propose to expand the Swachh Bharat mission to undertake sustainable solid waste management in every village, says Sitharaman.
11:55
India has emerged as a major space power. It is time to harness our ability commercially. To harness India's space ability commercially, a public sector enterprise, New Space India Limited has been incorporated to tap benefits of the Indian Space Research Organisation, says Sitharaman.
11:54
Time for completion of houses under PMAY reduced from 314 days in 2015-16 to 114 days in 2017-18, enabling the scale of achievement in PMAY. In second phase of PMAY-Gramin, 1.95 crore houses to be provided to eligible beneficiaries, during 2019-20 to 2021-22; they will have amenities such as LPG,...
11:45
Interoperability of RBI depositories and SEBI depositories necessary for seamlesss transfer of treasury bills; govt. will take necessary measures in this regard in consultation with RBI and SEBI, announces Sitharaman.
11:44
Electronic Fundraising Platform, a social stock exchange, to be set up to list social enterprises and voluntary organizations working for social welfare objectives, announces Sitharaman.
11:43
Local sourcing norms for FDI to be eased for single-brand retailing sector, says Sitharaman.
11:41
To deepen corporate tri-party repo market in corporate debt securities, government will work with regulators RBI & SEBI to enable stock exchanges to allow AA rated bonds as collaterals, says Sitharaman.
11:40
Govt will invite suggestions for further opening up of FDI in aviation sector, media, animation AVGC and insurance sectors in consultation with all stakeholders. 100% FDI will be permitted for insurance intermediaries, says Sitharaman.
11:37
Existing Know Your Customer norms for Foreign Portfolio Investors to be rationalised and simplified, to make it more investor-friendly, says Sitharaman.
11:36
A Credit Guarantee Enhancement Corporation will be set up in 2019-20, with an action plan to deepen markets for long-term bonds with specific focus on infra sector to be put in place, announces Sitharaman.
11:33
Pension benefit to be extended to around 3 crore retail traders and shopkeepers with an annual turnover less than Rs 1.5 crores under the Pradhan Mantri Karam Yogi Man Dhan Scheme, says Sitharaman.
11:31
Rs 350 crore allocated for 2% interest subvention for all GST-registered MSMEs on fresh or incremental loans, announces Sitharaman.
11:28
Several reforms would be undertaken to promote rental housing, current rental laws are archaic as they do not address lessor-lessee relationships fairly, says Sitharaman.
11:27
In her housing for all pitch in the Lok Sabha, Nirmala Sitharaman said the government will focus on affordable housing.She added that for Pradhan Mantri Karam Yogi Maang Dal scheme, one will require only Aadhaar and bank account.
11:26
Railway infra would need an investment of Rs 50 lakh crores between 2018 and 2030; PPP to be used to unleash faster development and delivery of passenger freight services, says Sitharaman.
11:20
'Gone are the days of policy paralysis. India's job creators are our wealth creator. India Inc, our job creators, are the nation's wealth creators; together, we can prosper. I wish to propose a number of reforms to kickstart virtuous cycle of growth,' says Sitharaman.
11:13
'The Indian economy will grow to become a $3 trillion economy in the current year itself. It is now the sixth largest in the world. Five years ago it was at the 11th position. From 1.85 trillion dollars in 2014, the economy has reached 2.7 trillion US dollars; we can very well reach 5 trillion...
11:11
Finance Minister Nirmala Sitharaman recites an Urdu couplet in the course of her Budget speech: 'Yakeen ho to koi raasta nikalta hai, hawa ki ot (protection) bhi le kar charagh jalta hai'.
11:09
Last mile delivery stood out, citizens in every nook and corner of the country felt the difference; our objective was and continues to be Mazbooth Desh Ke Liye Mazbooth Nagarik, says Sitharaman.
11:08
Average amount spent on food security per year approx. doubled during 2014-19 compared to preceding five years, says Sitharaman.
11:07
We have shown by our deeds that the principles 'perform, reform, transform' can indeed succeed. Have set the ball rolling for a 'New India', says Nirmala Sitharaman.
11:06
Finance Minister Nirmala Sitharaman rises to present her maiden Union Budget, and the first Budget of the second term of the Narendra Modi government.File photograph.
10:57
The Union Cabinet, which met ahead of the Parliament session, has put its seal of approval on Union Budget 2019.It will be presented by Finance Minister Nirmala Sitharaman in the Lok Sabha shortly.
10:45
The parents of Finance Minister Nirmala Sitharaman -- Savitri and Narayanan Sitharaman -- arrive at Parliament to watch her present her maiden Union Budget. Sitharaman will present the Budget at 11 am in the Lok Sabha.
10:31
Copies of Budget 2019 have been brought to Parliament under tight security. Finance Minister Nirmala Sitharaman will present the Budget in the Lok Sabha at 11 am today.
10:18
Finance Minister Nirmala Sitharaman and Minister of State for Finance Anurag Thakur arrive in Parliament for presentation of the Union Budget 2019. The session begins at 11 am.
09:47
As per tradition, Finance Minister Nirmala Sitharaman called on President Ram Nath Kovind at Rashtrapati Bhavan this morning ahead of the Budget's presentation in Parliament.
09:41
That's Minister of State for Finance Anurag Thakur offering prayers ahead of Budget 2019 that his boss Finance Minister Nirmala Sitharaman will present at 11 am in the Lok Sabha today.
09:38
Finance Minister Nirmala Sitharaman today carried the Budget documents not in the usual briefcase favoured by past FMs but in a cloth cover. Explaining this, Chief Economic Advisor Krishnamurthy Subramanian said the four-fold red cloth instead of a briefcase was in Indian tradition. It...
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