Union Budget 2019

Budget 2019 LIVE UPDATES: 'Interim Budget' With Potential 5-year Impact Beckons As Piyush Goyal Tables Modi Government's Election-year Vote-on-Account

Written By Ankit Prasad | Mumbai | Published:
Piyush Goyal will present the Narendra Modi-led government's sixth and final budget on Saturday, with all eyes set firmly on his announcements' potential impact on the upcoming Lok Sabha elections.
Update at 9:15 PM:
6 months ago

Union Minister Arun Jaitley speaks exclusively to Republic TV's editor-in-chief Arnab Goswami on #BudgetForBharat

The man who criticized and invented the Rs 17 figure didn't give even one paisa: Arun Jaitley, Union Minister

This is support in terms of income support. This is going to be Rs 75,000 crores to start with. Congress only gave Rs 70,000 crore of loan waiver: Arun Jaitley, Union Minister

 

Update at 3:35 PM:
6 months ago

"Government to identify nomadic and semi-nomadic tribes to include them in social welfare schemes by setting a welfare board as we want to provide benefit to people standing at last position in queue. It is essential to ensure the growth and development to reach all sections of society."

"The unorganised sector needed more safeguarding of their interests and the Budget has provided the benefits. The PM Shram Yogi Man Dhan Yojana will strengthen their lives. 
Ayushman Bharat Yojana and social security schemes are also going to help in bringing a change in people's lives. This Budget will empower the poor people, strengthen the farmers and will provide new direction to the economy": PM Modi

Update at 3:52 PM:
6 months ago

"I congratulate the middle class for the relief in taxes in the Budget. I salute the middle class for their stellar contribution towards the development of the nation. For years, many initiatives have been initiated for farmers but sadly, lot of farmers never came under the ambit of these schemes. The PM Kisan Nidhi will help those farmers who have under 5 acres of land. This scheme is a historic step for farmer welfare," says PM Modi

Update at 3:45 PM:
6 months ago

Prime Minister Narendra Modi delivers post Budget 2019 address:

"Over 9 crore people will benefit from Swachh Bharat scheme. From housing to healthcare, several aspects were touched by the Budget. The development initiatives of the NDA government have touched several lives."

"Over 12 crore farmers and their families, 3 crores salaried professionals and their families will get the benefits of the Budget. Dreams of the salaried middle-class will be fueled by the Budget. Our Neo-middle class is rising and so are their dreams."

Update at 1:59 PM:
6 months ago

"It’s a historic budget, and all the sections of the society will benefit from it," says Home Minister Rajnath Singh on Budget 2019

 

6 months ago

"With this budget we stand with the farmers, it will double their income. This will support the farmers for the long term": Amit Shah, BJP President addresses press briefing after Union Minister Piyush Goyal delivered Budget 2019 speech

"Farmer having farmer credit card will get 5 per cent rebate on paying amount on time."

"Our stand for the forces has been clear and the budget has reflected that with record allocation to the defence of our country. Making one lakh villages digital will provide employment and education to the villagers, it will make them self-sufficient."

Update at 12:45 PM:
6 months ago

The Lok Sabha has been adjourned after Union Minister Piyush Goyal concludes his Budget speech.

Update at 12:40 PM:
6 months ago

"Benefit of rollover of capital tax gains to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains up to 2 crore rupees which can be exercised once in a lifetime": Piyush Goyal.

"Benefits under Sec 80(i)BA being extended for one more year, for all housing projects approved till end of 2019-2020."

"This is not just an Interim Budget, this is a vehicle for the developmental transformation of the nation."

 

Update at 12:23 PM:
6 months ago

TAX BENEFITS

"Expenditure to rise by 13% from Revised Estimate(RE) 2018-19 to Budget Estimate(BE) 2019-20": Piyush Goyal

"56,619 crore made in BE 2018-19 for welfare of SCs and STs, increased to 62,474 crore in RE 2018-19 has been further increased to 76,800 crore in BE 2019-20."

"Along with completion of fiscal deficit consolidation programme, we will now focus on debt-to-GDP ratio consolidation."

"Amendments proposed to ensure the streamlined system for levy of stamp duties, to be imposed and collected at one place, seamlessly."

"On behalf of all the people of India and our Government, thank all our taxpayers for their valuable contribution to nation-building and for providing a better quality of life to poor and marginalized."

"I propose to further reduce the tax burden on middle-class salary earners, pensioners. Individuals earning up to Rs. 5 Lakhs will get full tax rebate": Union Minister Piyush Goyal in Budget speech

Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities

Around 3 crore middle-class taxpayers will get tax exemption due to this measure

"Standard tax deduction for salaried persons raised from 40,000 rupees to 50,000 rupees"

Update at 12:20 PM:
6 months ago

Union Minister Piyush Goyal underlines 10 most important dimensions that will guide the Government in Vision 2030:

  1. To build next-gen infrastructure - physical as well as social - for a 10 trillion dollar economy and to provide Ease of Living
  2. To build a Digital India that reaches every citizen, our youth will lead us in this, by creating innumerable startups and jobs
  3. Clean and Green India - an India that drives electric vehicles, with renewables becoming major source of energy, bringing down import dependence and increasing energy security for our people
  4. Expanding rural industrialization using modern industrial technologies, based on Make In India approach, using grassroot MSMEs and startups across the country
  5. Clean Rivers - with safe drinking water to all Indians, sustaining and nourishing life, using micro-irrigation techniques; long coastline can be pivotal for the economy, using strength of blue economy and Sagar Mala
  6. Oceans and coastlines is the sixth dimension of our vision for 2030
  7. India becoming launchpad of the world, placing an Indian astronaut in space by 2022
  8. Self-sufficiency in food and improving agricultural productivity with emphasis on organic food
  9. Healthy India, with distress-free and comprehensive wellness system for all is the ninth dimension of our vision for 2030
  10. Minimum Government Maximum Governance -  with proactive, responsible and friendly bureaucracy, electronic governance is the 10th dimension of our vision for India for 2030.

 

Update at 12:12 PM:
6 months ago

DEMONETISATION

"With the commitment to eliminate the ills of black money, several anti-black money measures have been taken by the government. We have brought an undisclosed income of about 1.30 lakh crore rupees to the surface under which 3.38 lakh shell companies have been deregistered": Piyush Goyal.

"18% increase in direct tax collections in 2017-18, 1.06 crore people included in tax base. Moreover, more than 1 crore citizens filed IT returns for the first time, after demonetization."

"We are poised to become a 5 trillion dollar economy in the next five years, we aspire to become a 10 trillion dollar economy in the next eight years: Union Minister Piyush Goyal addresses the Parliament."

 

6 months ago

GST REFORMS FOR BENEFIT TO CONSUMERS AND BUSINESS

"GST is undoubtedly the biggest taxation reform implemented since Independence. Through tax consolidation, India has become one common market. Inter-state movements have become faster through e-way bills, improving Ease of Doing Business": Union Minister Piyush Goyal.

"GST has been continuously reduced, resulting in relief of 80,000 crore rupees to consumer with most items of daily use for poor and middle class coming now in the 0%-5% tax bracket".

"Businesses with less than Rs. 5 crore annual turnover, comprising over 90% of GST payers, will be allowed to return quarterly returns."

GST collections in January 2019 has crossed 1 lakh crore rupees: Union Minister Piyush Goyal in his #Budget2019 address.

Update at 12:02 PM:
6 months ago

Taxation

"Simplification of direct tax system will benefit taxpayers; direct tax reduced and tax interface made simpler and faceless to make life easier; resulting in increase in tax collections and return filings."

"Direct tax collections from 6.38 lakh crore rupees in 2013-14 to almost 12 lakh crore rupees; tax base up from 3.79 crore to 6.85 crore."

"99.54% tax returns have been accepted without any scrutiny."

"Within almost two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by tax officials."

 

Update at 12:00 PM:
6 months ago

ENTERTAINMENT:

"Single window clearance for filmmaking to be made available to Indian filmmakers, anit-camcording provision to be introduced to Cinematography Act to combat film privacy."

"In the last 5 years under all categories of workers, minimum wages increased by 42% which is the highest ever.": Union Minister Piyush Goyal

Update at 11:56 AM:
6 months ago

DIGITAL INDIA:

"Cost of data and voice calls in India is now possibly the lowest in the world; mobile and mobile part manufacturing companies have increased from 2 to 268."

"Common Service Centers (CSC) are creating digital infra in villages, to convert them into digital villages."

"Aadhar is now universally implemented. We have eliminated middleman"

Update at 11:51 AM:
6 months ago

"India is the fastest highway developer in the whole world, 27 kms of highways built each day, projects stuck for decades completed; Sagar Mala will help faster handling of import and export cars."

"Vande Bharat Express will provide speed, service and safety to citizens and will give a boost to Make In India." 

"Our commitment to promote renewable energy is reflected in our initiative to set up International Solar Alliance; installed solar generation capacity has increased 10 times in last five years; lakhs of new jobs being created by the sector": Union Minister Piyush Goyal

Update at 11:44 AM:
6 months ago

"75% of woman beneficiaries under PM Mudra Yojana, 26 weeks of maternity leave and Pradhan Mantri Matritva Yojana, are all empowering women."

"India's youth have turned job creators from job seekers, India has become the second largest hub for startups," says Piyush Goyal in Budget Speech.

"9 nine priority areas identified; National Artificial Intelligence Portal to be developed soon."

"Rs. 1 crore loan can now be obtained under 59 minutes."

"Transactions of more than 17,500 crore rupees on GeM programme, resulting in savings of 25%-28%."

Defence budget enhanced beyond 3 lakh crore rupees: Union Minister Piyush Goyal

"Our soldiers are our pride and honour; One Rank, One Pension, pending for last 40 years, has been implemented by our government. Already disbursed 35,000 crore rupees for our soldiers under One Rank, One Pension, a substantial hike in military service pay has been announced."

Update at 11:42 AM:
6 months ago

Women led development  - "Government will deliver 8 crore free LPG connections to household": Union Minister Piyush Goyal says in his Budget 2019 speech in Parliament

Update at 11:40 AM:
6 months ago

"Mega Pension Yojana, namely Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of 3000 rupees per month, with contribution of 100 rupees per month, for workers in unorganized sector after 60 years of age. We will benefit 10 crore workers in unorganized sector, may become the world's biggest pension scheme for unorganized sector in five years": Union Minister Piyush Goyal

Update at 11:38 AM:
6 months ago

Union Minister Piyush Goyal talks about the 4R approach that has been implemented to ensure clean banking: 

  1. Recognition
  2. Resolution
  3. Recapitalisation
  4. Reforms

 

Update at 11:35 AM:
6 months ago

"Our government has decided to create separate department for fisheries. I propose to provide the benefit of 2 percent to Kisans to avail loans in Kisan credit card."

Big announcement on crop loans for farmers made by Piyush Goyal: "All farmers affected by severe natural calamities will be provided 2 percent interest subventions."

"Gratuity limit increased from 10 lakh to 30 lakh rupees": Union Minister Piyush Goyal 

Update at 11:30 AM:
6 months ago

Union Minister Piyush Goyal announces the Pradhan Mantri Kisan Samman Nidhi

"To provide assured income support for small and marginal farmers, Pradhan Mantri Kisan Samman Nidhi scheme has been approved. Under the Pradhan Mantri Kisan Samman Nidhi, 6000 rupees per year for each farmer,  in three instalments, to be transferred directly to farmers' bank accounts, for farmers with less than 2 hectares landholding."

Update at 11:28 AM:
6 months ago

"19000 crore has been set aside for Pradhan Mantri Gramin Yojna."

Aayushman Bharat

"Till the year 2014, 2.5 crores families were without electricity, we provided almost every house with electricity connection. We have launched the world's largest health care program, Aayushman Bharat."

AIIMS

"There are 21 AIIMS operating in the country. 14 of these 21 AIIMS have been announced since 2014. 22nd AIIMS is being set up in Haryana. And the way the BJP government won in the state yesterday, it is proof on how to run the government."

 

Update at 11: 18 AM:
6 months ago

We have introduced path-breaking reforms like Goods and Services Tax and other reforms. Fiscal deficit is likely to be 2.5% in fiscal year 2019-2020."

"The next-gen reforms in last five years have set the stage for decades of high growth."

"From 10.1% during the tenure 2009-14, we have brought down the back-breaking inflation."

"Swachchta as a tribute to Mahatma Gandhi, our government introduced the biggest behavioural change movement with Swachch Bharat Abhiyan. I thank the people of the country for the success of Swachch Bharat Abhiyan." 

"SC/ST/OBC reservation: 10% reservation for the upper middle class," Union Minister Piyush Goyal speaks about the recently introduced Reservation Bill.

"We ensured that everyone gets the benefit of food grains. We have worked to bridge the urban-rural divide in the country. In targeted expenditure to improve the quality of life, we have provided the urban facilities to the rural sectors."

Update at 11:05 AM:
6 months ago

"We are the fastest growing major economy in the world. We are today the sixth largest in the world. We contain double-digit inflation and restore fiscal palates."

"We brought down average to 4.6 per cent which is lower than any other government. If we had not controlled inflation then our common man would have spent more: Union Minister Piyush Goyal addresses the house of Parliament": Piyush Goyal addresses the house of Parliament.

Update at 11:00 AM:
6 months ago

Union Minister Piyush Goyal presents the Budget 2019 in the Lok Sabha.

Update at 10:54 AM:
6 months ago

"Since morning, Govt sources have been sending budget pointers to media houses, now if these pointers are there in FM's speech then it tantamount to a leak. It would be a serious issue of breach of secrecy": Congress leader Manish Tewari

 

Update at 10:52 AM:
6 months ago

Union Cabinet has approved the interim Budget 2019-20: ANI

 

Update at 10:33 AM:
6 months ago

"They'll try to introduce populist schemes in the Budget keeping an eye on Lok Sabha polls. Budgets they've presented so far haven’t really benefited the general public. Only ‘Jumlas’ will come out today. They've only 4 months when will they implement the schemes?": Senior Congress leader Mallikarjun Kharge targets Modi government ahead of  #Budget2019.

 

Update at 10:31 AM:
6 months ago

"The last five budgets have been dedicated to the farmers, the government's sixth budget will also be for the farmers, it will empower them," says Union Minister of Agriculture and Farmers' Welfare Minister Radha Mohan Singh ahead of #Budget2019.

#Budget2019 | WATCH: "New round of NSS survey will show substantial employment and job creation," says EAC Chairman Bibek Debroy on Jobs debate

Update at 10:30 AM:
6 months ago

Union Ministers Sushma Swaraj, Rajnath Singh, and Ravi Shankar Prasad arrive at the Parliament ahead of #Budget2019.

 

Update at 10:15 AM:
6 months ago

PM Modi arrives at the Parliament ahead of Budget 2019.

 

Update at 10:00 AM:
6 months ago

Union Minister Piyush Goyal arrives at the Parliament with the iconic Budget briefcase ahead of #Budget2019.

 

Update at 9:51 AM:
6 months ago

Union Minister Piyush Goyal on his way to the Parliament after briefing President Ram Nath Kovind

READ: Here Is What The Electronics And Mobile Industry Expect From The Union Budget 2019

Update at 9:50 AM:
6 months ago

Congress leader Manish Tewari makes a 'budget leak' claim

 

Update at 9:45 AM:
6 months ago

WATCH: What's the mood in the financial capital ahead of the Budget 2019? Republic TV's editor-in-chief Arnab Goswami and guests discuss

 

Update at 9:42 AM:
6 months ago

The printed copies of Budget 2019 have been security checked in Parliament premises

 

Update at 9:40 AM:
6 months ago

As per tradition, Union Minister Piyush Goyal calls on President Kovind at Rashtrapati Bhavan before presenting the Budget 2019:

 

Update at 9:25 AM:
6 months ago

Sensex opens at 36311.74; Nifty opens at 10851.35

Update at 9:10 AM:
6 months ago

Union Minister Piyush Goyal with the iconic budget briefcase ahead of #Budget2019 session in Parliament.

 

Update at 9:05 AM:
6 months ago

Copies of Budget 2019 brought to the Parliament complex; Union Minister Piyush Goyal to present interim Budget 2019-20.

Update at 9:00 AM:
6 months ago
Update at 8:53 AM:
6 months ago

Modi government is a popular government. It is natural that we will take care of everything. We will do whatever is possible for the people. We have always presented a good budget: Shiv Pratap Shukla, MoS (Finance)

 

Update at 8:50 AM:
6 months ago

Union Cabinet to meet ahead of the #Budget2019 presentation in the Parliament today.

READ: What the Entertainment Industry hopes for and expects from Budget 2019

Update at 8:46 AM:
6 months ago

Union Minister Piyush Goyal reaches Finance Ministry ahead of cabinet meeting.

 

Update at 8:45 AM:
6 months ago

Union Minister Piyush Goyal leaves his residence for the cabinet meeting ahead of the Budget 2019.

 

Update at 8:40 AM:
6 months ago

Republic TV's ground report on the aam aadmi's expectations from Budget 2019

 

Update at 7:58 AM: 
6 months ago

LIVE report on the expectations from Budget 2019 from Union Minister Piyush Goyal's residence

 

Update at 7:45 AM: 
6 months ago

Here's what to expect from Budget 2019

 

Update at 7:36 AM: 
6 months ago

Here's what Rajkot's jewellery industry is looking forward to ahead of #Budget2019

READ: Budget 2019: What Is Fiscal Deficit And Why Is It Important? Here's All You Need To Know

Update at 7:31 AM: 
6 months ago

Here's what the agriculture sector is looking forward to ahead of Budget 2019

READ: Budget 2019: What Is The Union Budget And Everything You Need To Know About It

Update at 7:30 AM:
6 months ago

Ahead of 2019, here's what the defence sector is expecting 

READ: Union Budget 2019: Here's What To Expect From Budget 2019

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