Budget highlights: Super rich to be taxed more, fuel tax increases

Finance Minister Nirmala Sitharaman with MoS Anurag Thakur and others outside the North Block ahead of the presentation of Union Budget 2019-20 at Parliament | Photo: PTI
Finance Minister Nirmala Sitharaman on Friday hiked the income tax on individuals earning more than Rs 2 crore annually to help the government o help pay for recapitalising banks and supporting small business in a bid to revive sagging growth. However, it's not that only the rich have been asked to shoulder the burden of the country's finances. Petrol and diesel prices will increase by Rs 2 a litre from Saturday after the Union Budget proposed a hike in cess and duties.

In her maiden budget speech, Finance Minister Nirmala Sitharaman also announced plans to sell India’s first global sovereign bonds and ease rules for overseas investors to help revive economic growth -- amid much table-thumping by her party members and allies as the opposition silently looked on.
Union Budget 2019: Here are the key takeaways from Finance Minister Budget speech

 
— Economy will grow to become a $3 trillion economy in the current year itself

— You can use your Aadhaar number to file your I-T Returns soon

— Additional deduction of Rs 1.5 lakh on loans up to March 31 2020 for buying affordable houses

— Excise duty on petrol, diesel to be hiked by Rs 1

 
— Angel tax: Startups not be subject to any scrutiny in respect to valuation

 
— TDS of 2 per cent on cash withdrawals exceeding Rs 1 crore in a year

 
— TV channel for promoting startups


9:48 PM IST Finance Minister Nirmala Sitharaman resisted calls for a fiscal boost to spur a weakening economy, sticking instead to a plan to narrow the budget deficit over time by keeping spending in check.   The fiscal deficit target for the year that began on April 1 was lowered to 3.3 per cent of gross domestic product from 3.4 per cent set in February’s interim plan. Read more

9:46 PM IST While the changes in the Budget in the rates of duty of customs have been for good reasons, except for duties on newsprint and books, general reform of the tariff has not been done. Read more

9:44 PM IST Cheering the government's proposal to set up mega manufacturing plants for solar cells, batteries and solar charging infrastructure, industry experts said the move will give a boost to the sunrise industry and Make in India programme.   The industry experts, however, noted that such initiatives would require larger support structure in the form of soft loans, export credits in order to compete globally.  

9:18 PM IST Punjab Chief Minister Amarinder Singh Friday said the Union Budget "lacked vision" and had nothing to offer to any section of society.   He said it ignored a critical sector like defence and no allocation was made for the 550th birth anniversary celebrations of Sikhism founder Guru Nanak Dev.

9:09 PM IST The Modi government has hiked the spending on health by around 18 per cent with allocation for the flagship 'Ayushman Bharat' scheme, said to be one of the major reasons for people re-electing the NDA, jumping from Rs 2,400 crore to Rs 6,400 crore.

9:07 PM IST The Department of Space has seen a marginal hike in the budgetary allocation from Rs 11,200 crore in 2018-19 to Rs 12,473 crore in 2019-20.   However, the head under space technology has seen a hike of nearly Rs 1,400 crore. In 2018-19, Rs 6,992 crore was allocated under this head. It rose to Rs 8,407 crore in 2019-20.  

9:03 PM IST #Budget2019 is just a rehash of the grandiose announcements made in the interim budget with the puzzling exclusion of jobs, Kisaan and Ayushman Bharat. — Anand Sharma (@AnandSharmaINC) July 5, 2019

9:00 PM IST The central government expects to get a massive fund influx from the Reserve Bank of India as dividends in 2019-20.   Accordingly, senior government official have said that around Rs 90,000 crore is expected to come from the apex bank in this fiscal.

8:58 PM IST The Aviation Ministry has been allocated Rs 4,500 crore in the Budget for the current financial year, which is 115 per cent less than Rs 9,700 crore that was given to it during 2018-19 fiscal.   Centre has allocated Rs 480 crore for regional connectivity scheme UDAN. In 2018-19, the UDAN scheme was given Rs 441 crore.  

8:56 PM IST The ruling Congress in Chhattisgarh termed the Union Budget as "disappointing".   Chief Minister Bhupesh Baghel said, "This budget is very disappointing. It has failed to provide any relief to the middle class, farmers, youth, women and minorities."   

8:36 PM IST Congratulations to the Hon'ble PM @narendramodi and FM @nsitharaman for the budget 2019-20. The budget besides being a policy document for boosting growth, serves the larger interest of all sectors of the Economy. — Arun Jaitley (@arunjaitley) July 5, 2019

LIVE UPDATES


Sitharaman picks fiscal discipline over calls for stimulus to economy

Finance Minister Nirmala Sitharaman resisted calls for a fiscal boost to spur a weakening economy, sticking instead to a plan to narrow the budget deficit over time by keeping spending in check.
 
The fiscal deficit target for the year that began on April 1 was lowered to 3.3 per cent of gross domestic product from 3.4 per cent set in February’s interim plan. Read more

Budget 2019 opinion: An incomplete agenda

While the changes in the Budget in the rates of duty of customs have been for good reasons, except for duties on newsprint and books, general reform of the tariff has not been done.

Read more

Budget to boost investment in renewable energy sector

Cheering the government's proposal to set up mega manufacturing plants for solar cells, batteries and solar charging infrastructure, industry experts said the move will give a boost to the sunrise industry and Make in India programme.
 
The industry experts, however, noted that such initiatives would require larger support structure in the form of soft loans, export credits in order to compete globally.
 

Union Budget lacked vision, vital issues ignored: Amarinder Singh

Punjab Chief Minister Amarinder Singh Friday said the Union Budget "lacked vision" and had nothing to offer to any section of society.
 
He said it ignored a critical sector like defence and no allocation was made for the 550th birth anniversary celebrations of Sikhism founder Guru Nanak Dev.

'Ayushman Bharat' gets big boost in Budget

The Modi government has hiked the spending on health by around 18 per cent with allocation for the flagship 'Ayushman Bharat' scheme, said to be one of the major reasons for people re-electing the NDA, jumping from Rs 2,400 crore to Rs 6,400 crore.

Marginal hike in budgetary allocation for Department of Space

The Department of Space has seen a marginal hike in the budgetary allocation from Rs 11,200 crore in 2018-19 to Rs 12,473 crore in 2019-20.
 
However, the head under space technology has seen a hike of nearly Rs 1,400 crore. In 2018-19, Rs 6,992 crore was allocated under this head. It rose to Rs 8,407 crore in 2019-20.
 

Congress leader Anand Sharma slams Budget 2019

Govt expects windfall from RBI as dividends

The central government expects to get a massive fund influx from the Reserve Bank of India as dividends in 2019-20.
 
Accordingly, senior government official have said that around Rs 90,000 crore is expected to come from the apex bank in this fiscal.

Budget earmarks Rs 4,500 cr for Aviation Ministry in 2019-20

The Aviation Ministry has been allocated Rs 4,500 crore in the Budget for the current financial year, which is 115 per cent less than Rs 9,700 crore that was given to it during 2018-19 fiscal.
 
Centre has allocated Rs 480 crore for regional connectivity scheme UDAN. In 2018-19, the UDAN scheme was given Rs 441 crore.
 

Baghel dubs Budget 2019 disappointing

The ruling Congress in Chhattisgarh termed the Union Budget as "disappointing".
 
Chief Minister Bhupesh Baghel said, "This budget is very disappointing. It has failed to provide any relief to the middle class, farmers, youth, women and minorities." 
 

Budget 2019 serves the larger interest of all sectors of the economy: Former finance minister Arun Jaitley

Budget 2019: Rs 400 cr allocated for boosting higher education

An amount of Rs 400 crore for building world class institutions in the country was sanctioned in the Union budget.
 
The amount, provided under the head "World Class Institutions", is more than three times the revised estimates for the previous year.

PAN-Aadhaar interchangeability: What experts say

Nitin Baijal, Director, Deloitte India said that the Budget was an effort at laying down a clear roadmap for tax administration over the next five years with introduction of a slew of measures specifically aimed at simplifying the tax filing process, e-assessment process and interchangeability of PAN with Aadhaar.
 
Neel Ratan, Partner and Leader- Government and Public Sector, PwC India said that the move was perhaps the first step to abolish PAN altogether for individuals.
 
"This also paves the way for better tax compliance with a single identifier and data driven governance," Ratan noted.

FY20 GST collection estimate down 13% to Rs 6.63 trillion

FM Sitharaman has substantially lowered her projections for GST collections in the Budget for 2019-20 (FY20), against the interim Budget Piyush Goyal presented in February.
 
In a span of five months, the GST mop-up for FY20 has been reduced by around 13 per cent to Rs 6.63 trillion in Sitharaman’s Budget, against Rs 7.6 trillion estimated by Goyal.

Budget 2019: Massive jump in aid allocation for Maldives, Mauritius and African nations

Over Rs 17,800 crore has been earmarked for the Ministry of External Affairs in the 2019-20 Budget, an increase of more than Rs 2,800 crore over the previous fiscal, with a massive jump in aid allocation for Maldives, Mauritius and African nations.
 
The total aid to countries has increased by about Rs 2037.79 crore, from Rs 5,545 crore in 2018-19 to Rs 7,582.79 crore in 2019-20.

Read more

Modi says budget will empower downtrodden, Cong slams it as insipid

Hailing the Union Budget, PM Modi said it is "one of hope" that will boost India's development in the 21st century and empower the downtrodden, but the Congress slammed it as "insipid" and accused the government of not paying any heed to common citizens or economists before preparing it.

Read more

Budget 2019 fails to uplift market sentiments

Reversing the gains made during the early trade on Friday prior to the Budget speech, the Sensex and Nifty declined around 1 per cent as the Union Budget failed to cheer the investors.
 
Realty stocks also were among the worst hit as the Nifty Realty Index fell by 3.57 per cent.

How Tamil Nadu parties reacted to Union Budget 2019

Ruling AIADMK in Tamil Nadu Friday welcomed the budget, saying it spelt out policies for India's future growth.
 
I welcome the Central budget presented by Mrs Nirmala Sitharaman, which has new policies for India's future growth, Chief Minister K Palaniswami said in a statement.
 
DMK President M K Stalin said the budget was "sweet" for corporates and "bitter" for the poor people.

Highlights of Budget 2019 (5/5):

* PSU banks to get Rs 70,000 cr capital 
 
* Housing finance cos to be regulated by RBI, as against National Housing Bank at present 
 
* Proposed more power to RBI over NBFCs in Finance Bill 
 
* One-time, six-month guarantee to PSU banks to buy some NBFC loans 
 
* Strategic divestment of CPSEs to remain a priority 
 
* Mulling below 51% stake in PSUs on case-to-case basis 
 
* Govt to re-initiate process of Air India sale 
 
* Plans to increase minimum public shareholding in listed cos to 35% from 25% 

Highlights of Budget 2019 (4/n):

* RBI, banks to absorb merchant discount rate at small shops 
 
* To impose basic excise duty on tobacco products 
 
* Excise duty of Rs 5/1,000 sticks imposed on filter cigarettes 
 
* India now 6th largest economy vs 11th five years ago 
 
* India to become $3 trn economy in FY20 
 
* Well within capacity to reach $5-trillion economy in few years 
 
* To soon announce policy package for power tariffs 

Highlights of Budget 2019 (3/n):

* Dividend income from state-owned companies seen at Rs 57,486 cr 
 
* Dividend/surplus from RBI, financial institutions at Rs 1.06 trillion
 
* Customs duty on gold, precious metals hiked to 12.5%, from 10% 
 
* Customs duty on stainless steel hiked to 7.5% from 5% 
 
* Special Additional excise, road cess on petrol, diesel hiked by Re1/litre 
 
* Tax deduction of Rs 1.50 lakh on e-vehicle loan interest 
 
* Extra Rs 1.50 lakh tax deduction on affordable housing loans

Highlights of Budget 2019 (2/n):

* To launch automated, faceless assessment of tax 
 
* To make pre-filled tax return forms available 
 
* Legacy dispute resolution plan to settle litigation in excise, service tax cases 
 
* Fiscal deficit for 2019-20 at 3.3% of GDP 
 
* Gross market borrowing pegged at Rs 7.1 trillion 
 
* GST collections pegged at Rs 6.63 trillion
 
* Disinvestment target pegged at Rs 1.05 trillion

Highlights of the Union Budget for 2019-20 (1/n)

*Tax deducted at source of 2% for cash withdrawals of over Rs 1 cr a year 
 
* Surcharge hiked on individuals with taxable income above Rs 2 cr 
 
* Effective tax rate on Rs 2-5 crore taxable income hiked by 3% 
 
* Effective tax rate on over Rs 5 crore taxable income hiked by 7% 
 
* Companies with turnover up to Rs 400 cr to pay 25% tax 
 
* Aadhaar, PAN interchangeable for filing income tax returns 

Kerala CM flays Union Budget 2019

Kerala Chief Minister Pinarayi Vijayan said the budget had failed to keep its various promises, including setting up of an All India Institute of Medical Sciences, made to the state.
 
It was unfortunate that the budget did not show any "sympathetic attitude" towards the southern state, which had been devastated during the August floods last year.
 

Budget 2019: Rs 50-trn investments in Railways by 2030; public-private partnership model allowed

The Indian Railways will depend heavily on public-private partnership (PPP) projects for growth despite its past record of slow pace in attracting investors.
 
Union Finance Minister Nirmala Sitharaman pointed out sectors for PPP projects that were not open earlier. Private investments are being pushed thanks to the Rs 50-trillion investment required between 2018 and 2030, which the government would find difficult to generate by itself.

Read more

Budget 2019: Five key income-tax related announcements FM made today

While the income tax slab rates were kept unchanged, Finance Minister Nirmala Sitharaman on Friday announced a number of new income tax proposals while presenting Budget 2019.
 
Click here for five key changes related to income tax in Budget 2019:

Missed FM Sitharaman's Budget speech? Here's all you need to know in two minutes

From concessions on purchase of affordable housing to higher surcharge on those earning over Rs 2 crore, click here for highlights of Budget 2019
 

Budget 2019 a mixed bag for farm industry: Experts

The allocation made in the Union Budget is an increase of 6.87 per cent over revised estimates of Rs 2.98  trillion given in 2018-19.Farm experts and industry bodies gave mixed response to the first budget of the Modi 2.0 government saying it failed to address key areas like oilseeds while giving thrust to fishery and other allied agricultural activities.

Defence budget unchanged at Rs 3.18 trillion

The defence budget remained unchanged at Rs 3.18 trillion, the amount set aside in the interim budget in February, notwithstanding expectations of steep hike in resources to modernise the armed forces and procure critical military platforms.
 
The allocation made in the Union Budget is an increase of 6.87 per cent over revised estimates of Rs 2.98  trillion given in 2018-19.

Govt to tap foreign market to raise funds for meeting fiscal deficit

Finance Minister Nirmala Sitharaman Friday said the government will soon tap foreign market to raise funds to meet fiscal deficit which is pegged lower at 3.3 per cent of the GDP for the current financial year.
 
The government will borrow Rs 4.48 trillion from the market in 2019-20, higher than the Rs 4.22 trillion in the previous year to meet the fiscal deficit.
 

Key highlights in the railway infrastructure sector:

  • Rs 50 trillion investment needed in Railway Infrastructure during 2018-2030
  • Public-Private-Partnership proposed for development and completion of tracks, rolling stock manufacturing and delivery of passenger freight services.
  • 657 kilometres of Metro Rail network has become operational across the country

Budget 2019 allocates Rs 28,261 cr to Jal Shakti Ministry

The Jal Shakti Ministry, which is executing the government's mission to provide clean and piped drinking water to every household in the country, has been earmarked Rs 28,261.59 crore in the budget 2019-20. Read more

Delhi Metro given grant of over Rs 400 crore in Budget 2019

The Delhi Metro has been given a grant of Rs 414.70 crore in the Union Budget 2019-20 as against Rs 50 crore in the last fiscal.

Budget 2019: Delhi Police gets Rs 7,496.91 crore

The Union Budget has allocated Rs 7,496.91 crore to the Delhi Police, an increase of Rs 290 crore over last year's revised estimate

Congress calls Budget 2019 'insipid', says it didn't disclose allocations to important programmes

Budget proposes simple KYC norms for FPIs, higher public holding limit

Budget 2019 proposed various measures such as easing of KYC norms for foreign portfolio investors and allowing the listing of social enterprises. Read more
 

Govt's subsidy bill up 13.32% for 2019-20

The government's subsidy bill on food, fertiliser and fuel is estimated to go up by 13.32 per cent to Rs 3,01,694 crore in the current fiscal, according to the Budget document.
 
Of the total subsidy bill, much of the increase has been made in the fuel subsidy, which is pegged at Rs 37,478 crore for the current fiscal.
 

Lokpal gets over Rs 100 crore Budget

Anti-corruption ombudsman Lokpal has got over Rs 100 crore Budget allocation, whereas Rs 35.55 crore outlay has been earmarked for the probity watchdog Central Vigilance Commission (CVC) for 2019-20.

Fiscal deficit target of 3.3% realistic: Finance secy

Finance ministry said the lower target is realistic as the government is expecting net additional revenue of Rs 6,000 crore over the interim Budget estimates.

Finance Secretary Subhash Chandra Garg said, "On the revenue side as compared to actual of 2018-19, direct taxes are expected to increase by 17.5 per cent, indirect taxes are going up by only 15 per cent. This is very realistic targets in our judgement. On non-tax side, there is also an increase as we are expecting better dividends."

Read more 

Budget disappoints pharma, healthcare sectors: Dr Reddys

The union budget which was presented by Finance Minister Nirmala Sitharaman has not offered any impetus to the growth of pharmaceutical and healthcare sectors, chairman of Dr Reddys Laboratories Sathish Reddy said Friday.
 
Describing the budget as an incremental one, he said the emphasis on start-ups and education sector is a good move. Read more

Budget clearly reflects PM Modi’s vision for India’s development: Amit Shah

Budget is a vision document with well-charted roadmap: Devendra Fadnavis

Highlights of Union Budget 2019-20: Measures related to MSMEs

Measures related to MSMEs:
 
* Pradhan Mantri Karam Yogi Maandhan Scheme
 
* Pension benefits to about three crore retail traders & small shopkeepers with annual turnover less than Rs. 1.5 crore.
 
* Enrolment to be kept simple, requiring only Aadhaar, bank account and a self declaration.
 
* Rs 350 crore allocated for FY 2019-20 for 2 per cent interest subvention (on fresh or incremental loans) to all GST-registered MSMEs, under the Interest Subvention Scheme for MSMEs.
 
* Payment platform for MSMEs to be created to enable filing of bills and payment thereof, to eliminate delays in government payments.

Budget 2019: Rs 400 crore for world class educational institutions

Finance Minister Nirmala Sitharaman said the government will bring in a New National Education Policy to transform India's higher education system to one of the best in the world.
 
She highlighted that while there was not a single Indian institution in the top 200 in the world university rankings five years back, there were three now - two IITs and IISc Bengaluru.
 
"This has been achieved due to concerted efforts by the institutions to boost their standards and also project their credentials better," she said.

Budget 2019: Rs 62,398 cr outlay for health sector; Rs 6,400 cr earmarked for AB-PMJAY

Sitharaman announced Rs 62,659.12 crore outlay for the health sector in the 2019-2020 fiscal, the highest in the last two financial years. The health outlay for this financial year saw an increase of around 19 per cent over the 2018-2019 fiscal when it was Rs 52,800 crore. The budgetary allocation for the sector is Rs 60,908.22 crore, with Rs 6,400 crore earmarked for the centre's flagship health insurance scheme Ayushman Bharat- Pradhan Mantri Jan Arogya Yojna (AB-PMJAY).

India reached $2 trillion-mark before Modi govt came to power, says Congress

Budget 2019: The key highlights in the transport sector are as follows

* India's first indigenously developed payment ecosystem for transport, based on National Common Mobility Card (NCMC) standards, launched in March 2019.
 
* Inter-operable transport card runs on RuPay card and would allow the holders to pay for bus travel, toll taxes, parking charges, retail shopping.

Budget 2019: Finance Minister has been very benign to the Railways, says Goyal

Union Minister Piyush Goyal to news agency ANI: Finance Minister has been very benign to the Railways. She has laid out a vision of investment of nearly Rs 50 lakh crore over the next 10 years. I would really like to thank Finance Minister for strengthening the resolve of the Railways.

Budget 2019: Most of the Rs 70,000 cr for PSBs will be for growth capital, says Subhash Chandra Garg

Most of the Rs 70,000 crore for PSBs will be for growth capital, said Subhash Chandra Garg, Secretary, Department of Economic Affairs.

Budget 2019: Rs 1.19 lakh crore to MHA; modest 5.17 per cent hike in budget allocation

The Home Ministry has been allocated Rs 1,19,025 crore in the Union Budget 2019-20, Rs 5,858 crore more than the last fiscal with special focus on improving police infrastructure, border areas and modernisation of police forces.
 
The ministry, currently headed by Amit Shah, received a modest 5.17 per cent hike over the revised estimate of 2018-19 amounting to Rs 1,13,167 crore.
 
The Delhi Police, which maintains law and order in the national capital, has been allocated Rs 7,496.91 crore while Rs 2,129 crore has been proposed for the development of infrastructure along the Indo-Pak, Sino-Indian and other international borders.
Finance minister Nirmala Sitharaman, in her budget speech, said the government envisions India to leapfrog into a global electric vehicle manufacturing hub.

The budget has been presented with a 10-year vision in mind: Nirmala Sitharaman

Soon, a new TV show on start-up issues on Doordarshan

Consistent with all budget announcements under the Modi government, start-ups received a special mention this time as well.
 
The government has proposed to launch a television programme for promoting start-ups, finance minister Nirmala Sitharaman said in her budget speech on Friday. Read more

How Union Budget 2019 will impact you

In the over 2 hour-long speech, there were several announcements that will directly impact most citizens.


Click here for top proposals that will impact you

Budget 2019:Congress slams government over the budget proposals and asked if a "mundane jugglery of acronyms" can pass off for vision for a New India

Congress chief spokesperson Randeep Surjewala slammed the government over the budget proposals and asked if a "mundane jugglery of acronyms" can pass off for vision for a New India. "An utterly lacklustre, nondescript, uninspiring and directionless Budget 2019. Zero on economic revival. Zero on rural growth. Zero on job creation. Zero on Urban rejuvenation. Can a mundane jugglery of 'acronyms' pass off for vision for a 'New India'?" he said on Twitter. "#Budget2019 so far -- Maximum Intent, Minimum Content! Maximum Catchphrases, Minimum Catch-points!", he tweeted when the Budget was being presented.

Budget 2019 is fraudulent, based on jugglery, says Sitaram Yechury





Budget 2019: India is still the fastest growing economy, says Nirmala Sitharaman

The Budget has clearly spoken from a position of strength; India is still the fastest growing economy; we have come up with proposals with which we are confident of our movement towards growth: FM Nirmala Sitharaman

Budget 2019: Imported cars to get costlier following customs duty hike

Cars that are fully imported into the country by luxury brands such as Mercedes, BMW, Audi, Volvo and Jaguar-Land Rover (JLR) will see a significant price hike following a rise in customs duty to 30% from 25%.

This budget is dedicated to the poor people of the country, to the Dalits, to the farmers, to the youth and women: J P Nadda

Jagat Prakash Nadda, BJP Working President: This budget is dedicated to the poor people of the country, to the Dalits, to the farmers, to the youth and women of the country. It represents all sections of society. I really congratulate the finance minister. 

High time we move on from the British hangover : Sitharaman on replacing briefcase with 'bahi-khaata'

I thought it is high time we move on from the British hangover, to do something on our own. And well, easier for me to carry too: Sitharaman on why she carried junked the briefcase for bahi-khaata.

Budget 2019: Government has responded comprehensively to the NBFC issue, Sitharaman says

The whole approach is to ensure that the government has responded comprehensively to the NBFC issue and if we had done that without understanding the regulatory shortcomings then it would not have done justice This is why some powers have been passed on to the RBI. Likewise, the recapitalisation is going to help banks fund their credit expansion, Sitharaman says.

Watch PM Modi's take on Budget 2019

Budget 2019: What is zero budget farming

Zero budget farming is a set of farming methods that involve zero credit for agriculture and no use of chemical fertilisers.

Key takeaways of Budget 2019

Finance Minister Nirmala Sitharaman on UnionB udget 2019: The emphasis was very clearly on the overall development of economy. We looked at rural initiatives, all of which will give certain dynamic to the rural areas. Similarly, we looked at how urban living can be better.

Budget futuristic, ignites spirit of hope for India to be $5 trillion economy, says Amit Shah

Praising the Union budget as futuristic, BJP president Amit Shah on Friday said it reflects Prime Minister Narendra Modi's vision where farmers prosper, the poor lead a life of dignity, the middle class gets its due and Indian enterprise a boost.




1,174 listed companies need to off-load promoter stake to meet budget proposal norm

As many as 1,174 listed firms, including giants like TCS, Wipro and DMart, will have to off-load promoter stakes worth about Rs 3.87 lakh crore, following budget announcement that minimum public shareholding has to be increased to 35 per cent.
 
Presenting her maiden budget, Finance Minister Nirmala Sitharaman on Friday said steps need to be taken to bring capital markets closer to the people and proposed raising the threshold for minimum public shareholding from 25 per cent to 35 per cent.
 
Based on the latest shareholding data, a research by Centrum Broking Ltd shows that 1,174 listed companies have promoter shareholding above 65 per cent.
 
"To put in other words, 25 per cent of the entire universe of listed companies (4,700 companies) will have to go through off-loading promoter stakes to meet this requirement," it said in a report post the budget announcement.
 

This Budget will substantially contribute towards an unprecedented development of India: Sushma Swaraj

PAN, Aadhaar interchangeable for filing of IT returns

Finance Minister Nirmala Sitharaman Friday said PAN and Aadhaar have been made interchangeable, allowing those who do not have PAN to file income tax returns.
 
Presenting the first budget of the Modi government in its second term, Sitharaman said Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without waiting for the mandatory 180 days.

Full text of Finance Minister Nirmala Sitharaman's Union Budget 2019 speech

Click here to read what Finance Minister Nirmala Sitharaman said in her Budget 2019 speech
Govt lower fiscal deficit target to 3.3% for FY20

Finance Minister Nirmala Sitharaman Friday lowered the fiscal deficit target to 3.3 per cent for the current fiscal from the earlier estimate of 3.4 per cent of the GDP.
 
"The fiscal deficit this year is 3.3 per cent brought down from 3.4 per cent," she said while presenting Budget for 2019-20. Read more
 
 

PM Modi on Budget 2019: A roadmap to transform the agriculture sector of the country

The middle class will progress with this budget: PM Modi

PM Modi: The middle class will progress with this budget, development work will expedite even more. The tax structure will simply and infrastructure will modernise. (Source: ANI)

The budget fulfills the expectations of the people of the country: Yogi Adityanath

No reference to the highly anticipated plan for job creation: Jyotiraditya Scindia

Maximum intent, minimum content: Congress leader Randeep Singh Surjewala on Budget 2019

Union Budget 2019: Massive push to infra as govt aims at $5 trn economy

Finance Minister Nirmala Sitharaman’s maiden budget speech is all about massive thrust on infrastructure. For India to become a $5 trillion economy in the coming years the Union government has set the ball rolling by focusing on infrastructure development from highways to waterways to ports. Read more

Budget 2019: Pension benefit extended to 30 mn retail traders, shopkeepers

Pension benefit would be extended to around 30 million retail traders and shopkeepers with an annual turnover less than Rs 1.5 crore under the Pradhan Mantri Karam Yogi Man Dhan Scheme, Finance Minister Nirmala Sitharaman said on Friday while presenting Budget 2019.

Key takeaways of Nirmala Sitharaman's maiden budget speech

  • Economy will grow to become a $3 trillion economy in the current year itself
  • Upfront incentives on purchase of electric vehicles, greater emphasis on affordable and eco-friendly public transport
  • NRI portfolio investment route to be merged with foreign portfolio investment route

More highlights
Budget 2019: Govt's FY20 divestment target hiked to Rs 1.05 trillion

The FY20 divestment target has been hiked to Rs 1.05 trillion from Rs 90,000 crore, said Finance Minister Nirmala Sitharaman on Friday while presenting Budget 2019.
 
The Finance Minister also said that the government would continue with the strategic divestment of select Central Public Sector Enterprises (CPSEs). The strategic disinvestment of Air India would also be re-initiated.  Read more
 
Direct Taxes - In view of rising income levels, a surcharge will be levied on individuals with taxable income of Rs 2 to 5 crore, and Rs 5 cr and above. The effective tax rate for these categories will increase by around 3 percentage points and 7 percentage points, respectively.

Budget 2019: No change in income-tax slabs

Nirmala Sitharaman's maiden Union Budget has made no change to the income-tax slabs. There is, however, an increase in surcharge paid by those earning more than Rs 2 crore in a year. 

Budget 2019 speech: Special additional excise duty of Rs 1/Litre on petrol & diesel

Special additional excise duty of Rs 1/Litre on petrol & diesel for road and infrastructure, says Finance Minister Nirmala Sitharaman

Budget 2019 speech: Custom duty on gold, other precious metal raised to 12.5%

Custom duty on gold and other precious metals increased by 2.5% to 12.5%, says Finance Minister Nirmala Sitharaman.

Companies with annual turnover of less than Rs 5 crore will have to file quarterly GST returns

GST rates have been eased with a relief of Rs 92,000 crore provided during the year. Further measures are being worked out to ease filing returns and tax compliance. A simplified single monthly return is now being ruled out. Companies with annual turnover of less than Rs 5 crore will have to file only quarterly returns, Nirmala Sitharaman says.

Budget 2019 speech: Import of defence equipment exempt from customs duty

 Finance Minister Nirmala Sitharaman says import of defence equipment not manufactured in India will now be exempt from customs duty.

3% effective income-tax increase for those earning Rs 2-5 cr: FM Nirmala Sitharaman

There will be an effective increase of 3% in income-tax paid by thgose earning more than Rs 2 cr, says FM Nirmala Sitharaman.

Budget 2019 speech: Surcharge increased for those earning Rs 2-5 cr, and over Rs 5 cr

Finance Minister Nirmala Sitharaman says increase in surcharge for those earning Rs 2-5 crore and for those earnings above Rs 5 crore.

Budget 2019 speech: TDS on over Rs 1 cr bank withdrawal meant to discourage cash transactions

"Our government has taken a number of initiatives to promote digital payments," says FM Nirmala Sitharaman. To discourage the practice of making business payments in cash, the government has proposed to levy a TDS of 2% on cash withdrawal exceeding Rs 1 crore in a year from a bank account.
 
BHIM, UPI, Aadhaar Pay, NEFT, RTGS can be used to promote less cash economy. Business establishments with annual turnover of Rs 50 crore will have to use these modes of payments with no charges or merchant discount rates will be imposed on customers or merchants. RBI and banks will absorb these costs, she says.

Budget 2019 speech: Those in highest income brackets need to contribute more, says FM

People in the highest income brackets needed to contribute more to the economy, said Finance Minister Nirmala Sitharaman. Surcharge on Rs 2 cr-5 cr income increased, says Finance Minister Nirmala Sitharaman.

Budget 2019 speech: Now, Aadhaar and PAN can be used interchangeably

More than 1.2 billion Indians now have Aadhaar. FM Sitharaman proposes to make the two documents interchangeable, so that Aadhaar can be used for verification with no requirement for PAN.

Budget 2019 speech: 2% TDS on cash withdrawal exceeding Rs 1 cr from a bank account in a year

2% tax will be deducted at source on cash withdrawal of more than Rs 1 crore from a bank account in a year. The move is aimed at discouraging cash payments for business transactions.
Budget speech 2019 highlight

Budget 2019 speech: Rs 1,50,000 additional I-T deduction on affordable housing loan interest payment

An additional Rs 1,50,000 income-tax deduction will be allowed for interest payment on loans taken for affordable housing, says Finance Minister Nirmala Sitharaman.

Budget 2019 speech: Start-ups, investors filing declarations not to come under to scrutiny for valuation premiums

To resolve the angel tax issue, start-ups and investors filing declarations will not be subject to scrutiny on valuation premiums, says Finance Minister Nirmala Sitharaman

Budget 2019 speech: Govt to raise part of its borrowings from external markets

The govt will raise part of its borrowings from external markets in external currencies, says FM Nirmala Sitharaman.
Finance Minister Nirmala Sitharaman Budget speech 2019 highlight

Budget 2019 speech: Rs 1.5 lakh income-tax deduction on loan taken for EVs

An additional income-tax deduction of Rs 1.5 lakh will be allowed for interest paid on loans taken to purchase electric vehicles, says Finance Minister Nirmala Sitharaman.

Budget 2019 speech: 25% tax rate extended to firms with up to Rs 400 cr annual turnover

Earlier, the tax rate of 25% was applicable only to companies with up to Rs 250-crore annual turnover. This has been extended to companies with turnover of up to Rs 400 crore. That will leave only 0.7% of all companies outside of the 25% tax rate, says FM Nirmala Sitharaman

Budget 2019 Speech: 2019 direct tax revenue up 78% over 4 years

The government's direct tax revenue has grown 78 per cent between 2014 and 2019, says  Finance Minister Nirmala Sitharaman.

Budget 2019 Speech: Sitharaman thanks taxpayers

Finance Minister Nirmala Sitharaman thanks responsible taxpaying citizens for their valuable contribution through taxes for all-round development of the country.

Budget 2019 speech: India's external debt-to-GDP among lowest in the world

Finance Minister Nirmala Sitharaman says India's sovereign external debt to GDP is among the lowest globally, at less than 5%. The govt will start raising part of its gross borrowing from external markets in external currencies.

Budget 2019 speech: No need to pay tax if you earn less than Rs 5 lakh a year

Those earning an income of less than Rs 5 lakh will not be required to pay tax, says Finance Minister Nirmala Sitharaman.

Budget 2019 speech: Soon, new Rs 1, 5, 10 and 20 coins to be available for public use

Finance Minister Nirmala Sitharaman says new Rs 1, 5, 10 and 20 coins will soon be available for use by members of the public

Budget 2019: Govt to continue strategic disinvestment in select CPSEs

Finance Minister Nirmala Sitharaman says the government will continue with its strategic diisinvestment in select central public sector enterprises (CPSEs).
Finance Minister Sitharaman Budget 2019 speech highlight
Finance Minister Nirmala Sitharaman Budget 2019 speech highlight
Finance Minister Nirmala Sitharaman Budget 2019 speech

Budget 2019 speech: Fundamentally sound NBFCs to keep getting funding from banks

Finance Minister Nirmala Sitharaman affirms that fundamentally sound non-banking financial companies (NBFCs) will continue to get funding from banks.

Budget 2019 speech: RBI to take over as HFC regulator from NHB

The Reserve Bank of India (RBI) will take over as the housing finance company (HFC) regulator from the National Housing Board (NHB), says Finance Minister Nirmala Sitharaman.
Finance Minister Nirmala Sitharaman Budget 2019 speech highlights

Budget 2019 speech: PSU banks to get Rs 70,000 crore boost for credit improvement

State-run banks would be given a Rs 70,000-crore boost for credit improvement, says Finance Minister Nirmala Sitharaman.
 

Budget 2019 speech: NPAs reduced by over Rs 1 trn; Rs 4 trn recovered via IBC

Non-performing assets of commercial banks have been reduced by Rs 1 trillion in the past year, says Finance Minister Nirmala Sitharaman, adding that Rs 4 trillion has been recovered under the Insolvency and Bankruptcy Code (IBC).

Budget 2019 speech: Railways to be encouraged to invest more in suburban network via SPVs

FM Nirmala Sitharaman says Indian Railways will be encouraged to invest more in its suburban railway network through speciual purpose vehicles (SPVs).
Finance Minister Nirmala Sitharaman speech highlight:

Budget 2019 speech: Sitharaman quotes Vivekananda to highlight the need to improve women's condition

Quoting Sweami Vivekananda's letter to his guru Sri Ramakrishna, FM Nirmala Sitharaman says there's no hope for the world's welfare, unless the condition of women is improved. "It is not possible for a bird to fly on one wing".

Budget 2019 speech: ‘Stand Up India' scheme to continue until 2025

Finance Minister Nirmala Sitharaman says that the ‘Stand Up India' scheme will continue until 2025.

Budget 2019 speech: Railway station modernisation to start this year

Finance Minister Nirmala Sitharaman says a railway station modernisation programme will be startedthis year.

Budget 2019 speech: Greater thrust on investment in suburban railway networks

FM Nirmala Sitharaman highlights the government's greater thrust on investment in suburban railway networks.

Budget 2019 speech: 95% cities in India have become open-defecation free

Finance Minister Nirmala Sitharaman reports that 95% cities in India have already become open-defecation-free (ODF)

Budget 2019 speech: National education policy to propose changes in school, higher education

Finance Minister Nirmala Sitharaman says the National Education Policy would propose changes to school curricumul and higher education.

Budget 2019 speech: Programmes exclusively for start ups on DD News

Finance Minister Nirmala Sitharaman proposes to start TV programmes exclusively for start-ups on DD News.

Budget 2019 speech: Study in India programme to bring foreign students to India

Finance Minister Nirmala Sitharaman alloocates Rs 400 crore to make higher edication institutions in the country world-class. Draft legislation for the Higher Education Commission of India (HECI) to be tabled. Study in India programme to help bring foreign students to India.
Highlights of Nirmala Sitharaman's speech:

Budget 2019 speech: Ease of doing business and ease of living should apply to farmers, too

Highlighting the need to go back to 'zero budget farming', Finance Minister Nirmala Sitharaman says ease of doing business and ease of living should apply to farmers, too. 

Budget 2019 speech: 80 livelihood biz incubators, 20 tech biz incubators to be set up in 2019-20

Finance Minister Nirmala Sitharaman says 80 livelihood business incubators and 20 technology business incubators will be set up in 2019-20 under the ASPIRE scheme to develop 75,000 skilled entrepreneurs in agro-rural industries.

Market slips to day's low as Budget 2019 speech is underway

Even as FM Nirmala Sitharaman's Union Budget 2019 speech is on, benchmark equity indices have slipped to their day's low.

Budget speech 2019: FM highlights need for returning to zero-budget farming

Finance Minister Nirmala Sitharaman says ease of doing business and ease of living should apply to farmers, too. Therefore, there is a need to go back to 'zero budget farming'.

Budget 2019 speech: Solid waste management to embrace all villages under Swachh Bharat

Solid waste management will embrace all the villages under the Swachh Bharat Mission, Finance Minister Nirnmala Sitharaman says.

Budget 2019 speech: 96 million toilets built since Oct 2, 2016, under Swachh Bharat

Finance Minister Nirmala Sitharaman says 96 million toilets have been built since October 2, 2016 under the government's Swachh Bharat Mission.
Highlights of Finance Minister Nirmala Sitharaman's speech
Highlight of Finance Minister Nirmala Sitharaman's Budget 2019 speech

Budget 2019 speech: FM proposes to replicate zero-budget farming

Finance Minister Nirmala Sitharaman proposes to replicate zero-budget farming, saying the concept will help double farm income by 2022.

Budget 2019 speech: 19.5 million houses to be constructed under PMAY from FY20 to FY22

Finance Minister Nirmala Sitharaman says that 19.5 million houses will be constructed under the Pradhan Mantri Awas Yojana (PMAY) between FY20 and FY22.

Budget 2019 LIVE: 125,000 km roads to be upgraded under PM Gram Sadak Yojana

Finance Minister Nirmala Sitharaman says 125,000 km of roads will be upgraded under the Pradhan Mantri Gram Sadak Yojana.

Budget 2019 speech: 30,000 km roads built using green tech, says FM

Finance Minister Nirmala Sitharaman says 30,000 km of roads have been built using green technology and recycled plastic.

Budget 2019 speech: Govt to seek views on more FDI in aviation, media, animation; 100% FDI in insurance intermediaries

Finance Minister Nirmala Sitharaman says the govt will invite suggestions on further opening up the aviation, media and animation sectors to FDI, in consultation with all stakeholders. 100% FDI will be permitted for insurance intermediaries

Budget 2019 speech: Village, poor and farmers at the centre of all govt programmes, says FM

Village, poor and farmers were at the centre of all govt programmes, says Finance Minister Nirmala Sitharaman.

Budget 2019 speech: Local sourcing norms will be eased for single-brand retail sector, says FM

Finance Minister Nirmala Sitharaman says the local sourcing rules will be eased for the single-brand retail sector

Budget 2019 speech: Sebi asked to consider increasing minimum public shareholding

FM Nirmala Sitharaman says Sebi has been asked to condier increasing minimum public shareholding criterion from 25 per cent to to 35 per cent

Budget 2019 speech: Will examine proposals on 100% FDI in aviation, media

FM Nirmala Sitharaman says proposals on 100% FDI in aviation and media will be examined.

Budget 2019 speech: FDI inflows robust in FY19, despite headwinds, up 6%

Budget 2019 speech: Despite headwinds, foreign direct investment (FDI) inflows were robust in FY19, rising 6% over the previous year

Budget 2019 speech: UDAY to be re-examained, new package for power sector tariffs, says FM

Finance Minister Nirmala Sitharaman says Ujwal DISCOM Assurance Yojana (UDAY) will be re-examained. A new package for power sector tariffs, removal of unnecessary duties on power rates, open access and group captive projects will be initiated.

Budget 2019 speech: FM proposes measures to promote rental housing

Finance Minister Nirmala Sitharaman proposes measures to promote rental housing.

Budget 2019 speech: FM moots up to Rs 1 cr of loans to MSMEs in 59 minutes

Budget 2019 speech: Finance Minister Nirmala Sitharaman has proposed loans of up to Rs 1 cr for micro, small and medium enterprises in 59 minutes. 

Budget 2019 speech: FM says govt to implement enabling measures to boost IFSCs

Finance Minister Nirmala Sitharaman says the government is implementing some enabling measures to boost international financial services centres (IFSCs).

Budget 2019 speech: Sitharaman proposes changes to kickstart domestic and foreign investment

Finance Minister Nirmala Sitharaman has proposed changes to kickstart domestic and foreign investment.

Budget 2019 speech: 657 km of metro lines have become operational, says FM

Finance Minister Nirmala Sitharaman says 657 km of Metro rail lines have already become operational.

Budget 2019 speech: India Inc, our job creators, are the nation's wealth creators; together, we can prosper

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 a virtuous cycle of growth, says Finance Minister Nirmala Sitharaman.

Budget 2019 speech: 300 km of new Metro routes approved, says FM

Finance Minister Nirmala Sitharaman says 300 km of new Metro train routes have been approved.

Budget 2019 speech: Time right for India to enter aircraft financing, says FM

The time is ripe for India to enter aircraft financing, says Finance Minister Nirmala Sitharaman.

Many wonder if the $5-trn economy target is achievable; it eminently is, says Sitharaman

When we aspire to become a $5-trillion economy, many wonder whether it is possible. The target is eminently achievable, given our citizens' desire and the leadership of the government, says Finance Minister Nirmala Sitharaman.

Budget 2019 speech: The ball has been set rolling for a new India, says FM

Finance Minister Nirmala Sitharaman says the ball has been set rolling for creation of a new India

Budget 2019 speech: Economy size has increased from $1.85 trillion to $2.7 trillion

Finance Minister Nirmala Sitharaman says the size of the economy has increased from $1.85 trillion to $2.7 trillion; now the traget is for $5 trillion in a few years.

Budget 2019 speech: Average amount spent on food security per year approximately doubled during 2014-19

Average amount spent on food security per year approximately doubled during 2014-19 compared to preceding five years, says Finance Minister Nirmala Sitharaman.

Budget 2019 speech: It took India 55 years to be $1-trillion economy, only five years after that to add add another $1 trillion

Finance Minister Nirmala Sitharaman says, "It took India 55 years to become a $1-trillion economy, and then five years to add another $1 trillion to its size."

Budget 2019 speech: India to become a $3-trillion economy this fiscal itself, says FM

Finance Minister Nirmala Sitharaman says India's goal of becoming a $5-trn economy by FY25 is well within reach. We could become a $3-trn econy this financial year itself.
 

Food security spends doubled over past 5 years ago: FM

FM Nirmala Sitharaman says India's food security spends in 2018-19 doubled from 5 years ago

Sitharaman quotes Chanakya Niti and Urdu poetry, says she's confident that the goals will be achieved

I’m confident we will perform our goals, says FM Sitharaman, quoting Chanakya Niti and Urdu poetry.

She says:
 
"yakeen ho toh koi rasta nikalta hai
hawa ki  to kar bhi chiraag jalta hai"

(You find ways somehow if you have faith
The lamp burns bright even in gushing wind)

'Mazboot desh ke liye mazboot nagrik', says FM

Finance Minister Nirmala Sitharaman says our (the government's) objective has been and continues to be 'mazboot desh ke liye mazboot nagrik' (strong citizen for a strong country).
 

Budget 2019 speech: Reform, perform, transform was the mantra of Modi government, says Finance Minister

Budget 2019 speech: Finance Minister Nirmala Sitharaman says 'Reform, perform and transform' has been the mantra of the Modi government.

Modi 1.0 stood out as a performing govt, says FM

Lauding the first term of the Narendra Modi government, FM Sitharaman says, "Modi 1.0 stood out as a performing govt".

Budget 2019 speech: Like never before has India celebrated its democracy, says Sitharaman

Budget 2019 speech: Like never before has India celebrated its democracy by giving a massive mandate to a perfomring government, says Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman's Budget 2019 speech begins

Finance Minister Nirmala Sitharaman's begins her Budget 2019 speech

Sensex reclaims 40,000 mark briefly ahead of Union Budget 2019

Equity benchmark indices ruled strong during early hours on Friday ahead of the highly anticipated Union Budget for 2019-20.

Union Budget 2019-20 to be presented shortly


Ambit Private Limited's Ashok Wadhwa on Budget 2019

Capital market is looking for support from Budget 2019, Ashok Wadhwa of Ambit Private Limited tells CNBC.

Interesting facts about India's Budget: How many women finance ministers have presented Union Budgets in India?

When Nirmala Sitharaman presents her maiden Union Budget today, she will become the second Indian woman finance minister and the first Indian woman minister with finance as her primary portfolio to present an annual Budget. Before her, Prime Minister Indira Gandhi had presented the Union Budget for 1970-71. Gandhi additionally held the finance portfolio at the time.

Interesting facts about India's Budget: Who has presented the most number of Budgets for India?

The most number of Indian Union Budgets have been presented by Morarji Desai. He presented the Budget every year from 1959 to 1963, and then from 1967 to 1969. Apart from this, he presented the interim budgets for 1962-63 and 1967-68.

Parents of Finance Minister Nirmala Sitharaman arrive at Parliament

Parents of Finance Minister Nirmala Sitharaman - Savitri and Narayanan Sitharaman arrive at the Parliament.


Copies of Budget 2019 have been brought to the Parliament.


Interesting facts about Budget: Who delivered the longest-ever Budget speech?

Interesting fact about Budget: The longest budget speech was delivered by finance minister Arun Jaitley in 2014. It was two-and-a-half hours long and included a five-minute break.

Budget 2019: PM Modi arrives at Parliament

Stock market erases gains ahead of Budget 2019 speech

Sensex trades in red

Budget 2019 LIVE: Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at Parliament

Interesting facts about India's Budget: Do you know why Union Budget was presented at 5 pm every year until 2000?

India's Union Budget used to be presented at 5 pm on the last working day of February every year — a colonial era tradition that had been in practice until 2000. It was only in 2001 that finance minister Yashwant Sinha changed the practice and the Budget began to be introduced at 11 am. It is believed that 5 pm India time was preferred earlier as it was convenient time for the British Parliament given the time zone difference.

Rakesh Mohan, former Deputy Governor of RBI, hopes for a progressive budget which lays the groundwork for growth.

Expect some material reforms in the PSU banking sector, says Arundhati Bhattacharya

Former SBI chairman Arundhati Bhattacharya told news channel CNBC that some material reforms to the PSU banking sector were expected in Budget 2019.

Interesting facts about Union Budget of India: Who presented India's first ever Union Budget?

Interesting facts about Budget of India: The first ever Indian Budget ever was presented by James Wilson, a Scottish economist and politician. He did so as a ‘Finance Member of the India Council’. 

Nirmala Sitharaman calls on President Ramnath Kovind before presenting the Union Budget 2019-20

As per tradition, Finance Minister Nirmala Sitharaman calls on President Ramnath Kovind before presenting the Union Budget

Budget 2019: 'Bahi khaata' symbolizes our departure from slavery of Western thought, says CEA

Chief Economic Advisor Krishnamurthy Subramanian on FM Nirmala Sitharaman keeping budget documents in four fold red cloth instead of a briefcase: It is in Indian tradition. It symbolizes our departure from slavery of Western thought. It is not a budget but a 'bahi khaata'(ledger).

Envision Capital's Nilesh Shah on broad contours of Budget 2019

The broad contours of Budget 2019 had already been laid out in the Interim Budget presented by Piyush Goyal on February 1, 2019, says Nilesh Shah of Envision Capital.

Nirmala Sitharaman replaces traditional briefcase with a red cover

CEA describes the red cover that replaces briefase for the first time, calls it the traditional 'bahi-khaata'.

Big farm push expected in first Budget of Modi 2.0

Taking forward the setting up of a separate ministry for fisheries (one of the promises made by Modi), the Budget will have schemes for ushering in a "blue revolution". The BJP's promise of allocation of Rs 10,000 crore for providing infrastructure like storage and marketing for small fishermen is likely to be fulfilled.

Nirmala Sitharaman hands over a copy of the Union Budget to the President

Finance Minister Nirmala Sitharaman has handed over a copy of the Union Budget to the President.
 
Finance Minister Nirmala Sitharaman, MoS Finance Anurag Thakur, Finance Secretary S C Garg, Chief Economic Advisor Krishnamurthy Subramanian and other officials outside Finance Ministry.

Pre-Budget Economic Survey warns of ageing population, says retirement age should rise

The government on Thursday warned in a study that its population is going to start to age and it needs to be prepared to merge schools and raise the retirement age
 
While India should be set to benefit from the so-called “demographic dividend” over the next decade as its working population is set to increase by about 9.7 million a year between 2021-31, that will quickly fade as the nation’s fertility rate plunges below replacement level.

Budget 2019: Sitharaman arrives at Ministry of Finance

Finance Minister Nirmala Sitharaman arrives at Ministry of Finance. She will present the Budget 2019 today at 11 am in Lok Sabha.

Budget 2019 | Modi's election promises: Interest-free short-term crop loans for farmers

In a bid to deal with agrarian distress and boost the farm sector, Finance Minister Nirmala Sitharaman's budget 2019-20 might announce interest-free short-term loans to farmers. This Budget may allow farmers to seek short-term new agriculture loans up to Rs 1 lakh. In its manifesto released ahead of the recently-concluded Lok Sabha elections, the BJP had vowed a raft of measures for the agriculture sector, with pointed attention to raising income of farmers, an important electoral constituency.
 
A decision on short-term interest-free loans to farmers was among the poll promises that the BJP had made.

'Housing for all': The government could announce certain reliefs to revive the housing sector

'Housing for all' has been the government's focus, and considering that the housing sector has been struggling with oversupply and tight liquidity, the government could announce certain reliefs to revive the sector.

Budget 2019: Will the finance minister give people tax sops?

It is anticipated that the government could announce certain tax reliefs to augment disposable income in the hands of individuals.

Budget 2019 expectation: Easy collateral-free credit of up to Rs 50 lakh for youth

To appease the business community, Prime Minister Narendra Modi promised to provide loans up to Rs 50-lakh loan without any guarantee to traders, along with credit card facility and a pension scheme for small shopkeepers.

Budget expectation: Piped water to all citizens of the country

Right after Modi took charge as the prime minister for the second time, he held a meeting with state secretaries for agriculture to discuss the farm crisis and an inter-state meeting on water crisis.
 
On June 15 when the governing council of NITI Aayog met, he announced a characteristic target-driven agenda: “The aim is to provide piped water to every rural home by 2024.”
 
Will water crisis be addressed in the Union Budget 2019? Let's wait to find out.

Budget 2019 expectations: Will Modi government fulfill its Lok Sabha election promises?

During elections, BJP made some huge promises which they have to fulfill and it is expected that the budget will focus on lowering farmers distress and creating employment for the nation.
 
Exemption in tax for the middle is also expected to rise so that consumption is increased in the household.

Pre-Budget Economic Survey included numbers on sanitation coverage and health expenditure

Chief Economic Advisor Krishnamurthy Subramanian’s Economic Survey highlighted key social and business statistics. The two volumes included numbers on sanitation coverage, health expenditure, the need for increased capacity in the health care sector and India's declining fertility rates. It also has business indicators spanning from start-ups to logistics, and from resources to competitiveness.

Budget 2019: Divestment to make up for tax-revenue shortfall this year, says CEA Subramanian

Just a day before the Union Budget 2019-20, Chief Economic Advisor Krishnamurthy Subramanian said asset monetisation and disinvestment were expected to make up for the expected shortfall in revenue. Subramanian, after presenting the Economic Survey 2018-19, the topics not covered in the Survey, like banking sector reforms, would find place in the next Economic Survey seven months from now.

Budget 2019: Economic Survey shifts focus on sustainable development and infrastructure creation

Shifting focus on sustainable development and infrastructure creation, the Economic Survey this year called for resource optimisation and energy efficiency.
 
The Survey has suggested that India, like several countries such as the United Kingdom and Iceland, should invest in resource efficiency through recycling, reusing, minimising consumption and reducing wastage. READ MORE...

Budget 2019 expectations: Here's what Sitharaman will keep in mind while presenting the Budget speech

The recent sluggishness in the economy has led to expectations that the Budget would contain further stimulus measures to boost growth through new policy initiatives and continued reforms to achieve accelerated growth and increase in employment.

Till the year 2016, the Union Budget was presented on the last working day of February

Till the year 2016, the Union Budget was presented on the last working day of February. Former Finance Minister Arun Jaitley had changed the tradition in 2017 when the Union Budget was presented on February 1.

Earlier this year, the Interim Budget was presented by the then Finance Minister Piyush Goyal on February 1

In view of the general elections 2019, the interim Budget for the current fiscal was presented by Finance Minister Piyush Goyal in February this year.

The Railway Budget 2019 will be presented along with the Union Budget

The Railway Budget will also be presented today along with the Union Budget. This practice had begun in the year 2016, where the practice of presenting the rail budget separately was discarded.

This will be India's 89th Union budget

This will be the 89th Union budget, which is the financial statement of the government, detailing its revenue and expenditure in the past, as well as estimated spending and projections for the coming year.

Budget 2019: What to expect from Modi government's Budget?

Budget 2019 is expected to lay down the Modi 2.0 government's road map for the economy and the nation for the next five years. It might look to boost spending at the cost of short-term slippage in fiscal deficit targets. 

FM Nirmala Sitharaman to table Budget 2019 today in Parliament

Nirmala Sitharaman to table Budget 2019 today in Parliament at 11 am. This will be her maiden Budget presentation as finance minister.

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