15:17
Central Hall of Parliament on Budget day was teeming with members of Parliament from almost all political parties. Most of them were waiting to greet Finance Minister Arun Jaitley on his fifth Budget, as well exchange a few words with Prime Minister Narendra Modi. Samajwadi Party...
14:38
Defence outlay raised to Rs 2.82 lakh crore in 2018-19 from Rs 2.67 lakh crore in current year. Defence ministry issues new figure for defence budget; Pegs it at Rs 2.95 lakh crore for 2018-19.
14:35
A large number of imported items including mobile handsets, cars and motorcycles, fruit juices, perfumes and footwear will become costlier as the Finance Minister Arun Jaitley today hiked customs duties on these products in the Union Budget 2018-19. However, select items such as imported raw...
14:17
Duties on petrol, diesel rejigged; basic excise duty lowered by Rs 2 per litre, Rs 6 additional excise duty abolished, but Rs 8 a litre road cess introduced.
14:05
Government makes PAN mandatory for any entity entering into a financial transaction of Rs 2.5 lakh or more. PAN to be used as Unique Entity Number for non-individuals from April 1.
13:46
Prime Minister Narendra Modi speaks on the Union budget 2018.- This budget has a solution for removing poverty- This budget has devoted attention to all sectors, ranging from agriculture to infrastructure- From food processing to fiber optics, roads to shipping, youth to senior citizen, rural...
13:11
FM has failed fiscal consolidation test, this failure will have serious consequences: Congress leader P Chidambaram reacts to Budget 2018.
13:08
Customs duty on mobile phones to be hiked to 20 per cent from 15 per cent.Customs duty on raw cashew cut from 5 pc to 2.5 pc.
13:07
The Central Board of Excise and Customs has been renamed as Central Board of Indirect Taxes and Customs.
13:00
Long term capital gains exceeding Rs 1 lakh from sale of equities to be taxed at 10% without allowing benefit of indexation if the share is sold after January 31, 2018, says Jaitley.Soon after he made the announcement the BSE Sensex crashed by over 400 points, to recover a little subsequently....
12:56
Some of the other measures unveiled by Finance Minister Arun Jaitley in his Budget were: Distributed income of equity oriented mutual funds to be taxed at the rate of 10 per cent.Education cess increased to 4 pc from 3 pc to collect additional Rs 11,000 cr.Cash payments exceeding Rs 10,000...
12:51
Speech done, Finance Minister Arun Jaitley commends the Budget to the House, and moves the Finance Bill 2018.
12:50
The BSE Sensex has crashed by over 400 points, following news of the government imposing a tax of 10% on long term capital gains from sale of equities.
12:43
No changes in personal income-tax rates, says Jaitley. However, he grants salaried tax-payers a standard deduction of Rs 40,000 towards transport and medical allowance.
12:40
Senior citizens can claim tax deduction of Rs 50,000 towards medical expenses.
12:39
Goverment earmarks Rs 150 cr to commemorate 150 years of birth of Mahatma Gandhi, says Jaitley.
12:32
National Insurance Co, Oriental Insurance Co and United Assurance Co to be merged into one entity and subsequently listed, says Jaitley.
12:28
Government does not consider crypto-currency as legal; will take all measures against its illegal use, says Jaitley.
12:28
Government to formulate a comprehensive gold policy to develop gold as an asset class; gold monetisation scheme to be revamped.
12:25
The government has revised its fiscal deficit for 2017-18 to 3.5% of the GDP, against the targeted 3.2% For 2018-19, against the expected 3.2%, the government revises the target to 3.3% of GDP.
12:22
The emoluments for President, vice president and governors which were last revised in 2006, is being revised, says Jaitley. Accordingly, the President will now by paid Rs 5 lakh a month, vice president will get Rs 4 lakh and governors will get Rs 3.5 lakh a month. Turning his...
12:17
We have exceeded our divestment target for the current fiscal and raised Rs 1 lakh crores this year, says Jaitley, and sets a target of Rs 80,000 crores for 2018-19.
12:09
The government will boost the passenger handling capacity across India's airports by 5 times, says Jaitley.
12:06
10 prominent tourist sites to be developed as iconic tourist spots, says Jaitley.
12:05
Government allocates Rs 17,000 crores for Mumbai's suburban rail network.
12:04
Government to take additional measures to strengthen the environment for venture capitalists and angel investors, says Jaitley.
12:03
Employees PF Act to be amended to reduce the contribution of women to 8 pc from 12 pc with no change in employer's contribution, says Jaitley.
12:00
Rs 4.6 lakh cr sanctioned under MUDRA scheme, says Jaitley, and the target for loan disbursement under this scheme has been set at Rs 3 lakh crore for next fiscal. The mass formalisation of MSME sector is happening after demonetisation and GST, he says.
11:48
Two new schools of planning and architecture to be set up; 18 more in IITs and NIITs, says Jaitley.
11:47
Government to launch Prime Minister's Research Fellow Scheme this year which will identify 1000 BTech students to do PhD at IITs etc, announces Jaitley.
11:45
Rs 16,000 cr to be spent on providing electricity connection to 4 cr poor households, says Jaitley.
11:45
1 cr houses to be built under Pradhan Mantri Awas Yojana in rural areas, says Jaitley.
11:43
We are launching a flagship national health scheme to cover 10 crore poor families, or approximately 50 crore beneficiaries, providing up to Rs 5 lakh per family per year for secondary and tertiary hospitalisation. Adequate funds will be provided for this, says Jaitley.
11:35
Committed to providing the best education to tribal students in their own environment, says Jaitley, and announces the setting up of Eklavya schools on par with Navodaya schools.
11:33
Institutional credit to agriculture to be raised to Rs 11 lakh cr in 2018-19, says Jaitley.
11:32
Government to allocate Rs 500 cr for 'operation green' to promote farmer produce organisations, agri logistics and processing, says Jaitley.
11:30
My government will set up a dedicated affordable housing fund in National Housing Bank, says Jaitley.
11:26
I propose to extend kisan credit cards to fisheries and animal husbandry sectors, says Jaitley. Will work on governments purchasing surplus solar electricity, he says. Setting up fishery and aquaculture development fund and animal husbandry fund, with a total corpus of Rs 10,000 crores.
11:21
Food processing sector is growing at 8% per annum. Allocation of Rs 715 cr is being doubled to Rs 1400 crores, says Jaitley. Rs 2000 crores has also been allotted for building infra at agricultural mandis and farmer markets.
11:16
His government is committed to minimum support price of 150% of input price per farm, says Jaitley.
11:13
Our emphasis is on generating higher income for farmers, and want to help farmers produce more from the same parcel of land and realise higher prices for their produce, says Jaitley.
11:12
Jaitley is now talking of the measures his government has taken to improve the quality of life of the citizen. The Direct Benefit Transfer is the biggest such example, he says.
11:08
On purchasing power parity basis we are already the 3rd largest economy. We hope to grow at 7.2 to 7.5% in the 2nd half. Manufacturing sector is back on growth path, services sector too has resumed its high growth rate at 8%. We are firmly on track to achieve high growth of 8%,...
11:06
All the structural reforms will help the Indian economy grow in the medium and long term, says Jaitley.
11:05
Finance Minister Arun Jaitley rises to present the Union Budget 2018-19, the last full Budget of the BJP-led NDA government before the 2019 general elections. The Budget comes ahead of the upcoming assembly polls in eight states this year. While P Chidambaram had presented the...
10:57
Just In: Union Cabinet approves the Union budget, Finance Minister Arun Jaitley's speech to begin shortly.
10:57
Man of the hour, Finance Minister Arun Jaitley arrives in Parliament to present his government's fifth and final Budget, to an explosion of flashbulbs and television boom mikes.
10:35
The Union Budget papers are being given the final once-over by sniffer dogs at Parliament House. Soon they will be taken into the august House to be presented by the finance minister. Photograph: ANI.
10:18
The benchmark BSE Sensex regained the 36,000-mark by rebounding over 171 points in opening trade as investors built up positions ahead of the Union budget to be unveiled by the finance minister today. The 30-share BSE index, which had lost 318.23 points in the previous two sessions,...
10:12
Obviously today is a hectic day for Finance Minister Arun Jaitley, who has reached Parliament House. If you thought it ended with the presentation of the Union Budget in Parliament, you are mistaken. According to Press Information Bureau, this is what his day looks...
10:01
What do you think Finance Minister Arun Jaitley will do today? What do you think he SHOULD do today? Join the bustling Union Budget discussion on Rediff ZaraBol, here!
09:53
And... the Union Budget papers have arrived in Parliament! Photograph, courtesy ANI.
09:47
In a break from tradition, Finance Minister Arun Jaitley is likely to deliver significant portions of his Budget speech on Thursday, particularly those related to the farm sector, in Hindi, report Indivjal Dhasmana and Archis Mohan in Business Standard. In his previous four Budgets,...
09:40
Kaushik Basu, who served as chief economic advisor to the UPA government from December 2009 to July 2012, tweets: 'Reading India's Economic Survey 2017-18 it is clear that the Survey is in very good shape. I wish I could say the same for what it surveys.'
09:37
Ahead of presenting his government's last full Budget, Finance Minister Arun Jaitley called on President Ram Nath Kovind this morning. Rashtrapati Bhavan has tweeted: 'As per tradition, Finance Minister Arun Jaitley calls on #PresidentKovind at Rashtrapati Bhavan before presenting...
09:21
Claiming that the budgetary process in India was not transparent enough, an NGO has urged the government to place more information related to the budget in the public domain. As Finance Minister Arun Jaitley gears up to present the Union Budget 2018-19 today, the NGO, Transparency...
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