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LIVE STREAMING: Union Budget 2018; Propose To Tax Long-Term Capital Gains Exceeding Rs 1 Lakh At 10 Percent Without Indexation, FM

Arun Jaitley, Finance Minister, India starts his Budget 2018 speech in Indian Parliament at 11:00 AM

Photo Credit : Himanshu Kumar,

12:51 pm (IST): Arun Jaitley's budget speech concludes. We will follow industry reactions on the Budget 2018 here.

12:50 pm (IST): Corporate Tax rate cut to 25% for companies with turnover of Rs 250 crore: FM Arun Jaitley 

12:47 pm (IST): Custom duty on mobile phones increased to 20% from 15%: Arun Jaitley 

12:46 pm (IST): Propose to tax long term capital gains exceeding Rs 1 lakh at 10% without indexation: Arun Jaitley

12:45 pm (IST): Propose to introduce tax on distributed income by equity-oriented mutual funds at 10%: FM Jaitley

12:42 pm (IST): Standard deduction of Rs 40,000 for salaried employees in lieu of transport and medical expenses: FM Jaitley

12:40 pm (IST): For senior citizens, exemption of interest income on bank deposits raised to Rs 50,000: Arun Jaitley

12:38 pm (IST): Propose to extend 25% corporate tax rate to companies with revenue up to Rs 250 crore: FM Jaitley

 12:36 pm (IST): Proposed two defence industrial corridors in the country to promote domestic production in both public and private sectors: Arun Jaitley

 12:35 pm (IST): Govt has made many positive changes in the personal income tax rates applicable to individuals in the last three years therefore I do not wish to make any changes to this: Arun Jaitley

12:35 pm (IST): Propose 100% tax rebate for farmer producer companies having a turnover of Rs. 100 crore: FM Jaitley

12:34 pm (IST): More payers joining tax net but turnover not encouraging: Arun Jaitley 

12:32 pm (IST): Demonetisation was received by honest tax-payers as 'Imaandari ka Utsav': Arun Jaitley

12:30 pm (IST): Tax payer base has risen from 6.47 crore in 2014-15 to 8.27 crore in 2016-17.: Arun Jaitley

12:28 pm (IST): Gold monetisation scheme being revamped so that people can open gold deposit accounts in a hassle-free manner: FM Arun Jaitley

12:27 pm (IST): The Govt is proposing changes in refixing salaries of Members of Parliament. Law will provide automatic revision of emoluments of the MPs every 5 years indexed to inflation: FM Jaitley

12:26 pm (IST): Projected fiscal deficit for 2018-19 is 3.3% of GDP: FM Arun Jaitley

12:22 pm (IST): Emoluments of the President to be revised to Rs 5 lakh per month & emoluments of the Vice-president to be revised to Rs 4 lakh per month: Arun Jaitley 

12:16 pm (IST): Govt has identified 372 specific business reform actions to improve ease of doing business; Evaluation of performance under this programme to be based on user feedback: FM Arun Jaitley

12:16 pm (IST): Will take all steps to eliminate the use of Crypto-Currencies, will encourage Blockchain technology in payment systems: FM Jaitley 

12:15 pm (IST): Niti Aayog to establish a national programme to direct efforts towards Artificial Intelligence, including research and development of its applications: Arun Jaitley

12:14 pm (IST): 1 lakh Gram Panchayats connected to optic fibre completed; 5 lakh Wi-Fi spots to be created in rural areas: Finance Minister Arun Jaitley

12:13 pm (IST): Airports Authority of India now has 124 airports, this will be expanded by 5 times. Aim of 1 billion trips a year: Arun Jaitley

12:11 pm (IST): UDAN (Ude Desh ka Aam naagrik) scheme will connect 56 unserved airports and 31 unserved helipads: Arun Jaitley

12:09 pm (IST): Focus will be on safety, maintenance of railway tracks, increase in use of technology and fog safety devices: FM Jaitley

12:08 pm (IST): Redevelopment of 600 major railway stations has been taken up; Mumbai transport system is being expanded; suburban network of 160 km planned for Bengaluru: FM

12:06 pm (IST): Foundation stone of the bullet train was laid in September 2017. An institute is coming up in Vadodara to train the manpower required for the high speed railway projects: FM Jaitley

12:05 pm (IST): All railways stations with more than 25,000 footfall to have escalators. All railways stations and trains to have Wi-Fi and CCTVs progressively: Arun Jaitley 

12:03 pm (IST): 12,000 wagons, 5160 coaches and 700 locomotives being procured. There is significant achievements of physical targets by Railways : Arun Jaitley 

12:01 pm (IST): AMRUT program to focus on water supply to all households in 500 cities. Water supply contracts for 494 projects worth 19,428 core awarded: FM Jaitley

11:59 am (IST): Proposal to develop 10 prominent tourist destinations as Iconic tourism destinations: Arun Jaitley

11:57 am (IST): Have proposed construction of tunnel under the Se-La pass in Arunachal Pradesh: FM Jaitley

11:55 am (IST): Cleaning of Ganga is of national importance, have sanctioned 187 projects under NAMAMI Ganga scheme: FM Jaitley

11:54 am (IST): Contribution of 8.33% to EPF for new employees by the govt for three years and 12% govt contribution to EPF in sectors employing large number of people: Arun Jaitley

11:52 am (IST): Announce allocation of Rs. 56,619 crore for SC welfare and Rs. 39,135 crore for ST welfare: FM Jaitley

11:49 am (IST): 115 aspiration districts identified taking various indices of development into consideration, quality of life to be improved in these districts: FM Arun Jaitley 

11:46 am (IST): Technology will be the biggest driver in improving quality of education. We propose to increase the digital intensity in education and move gradually from blackboard to digital board: FM Jaitley

 11:44 am (IST): 24 new govt medical colleges and hospitals to be set up by upgrading existing district hospitals: FM Arun Jaitley

11:40 am (IST): We have allocated 1200 crore allocated for health wellness centres. Rs 5 lakh per family per year for 10 crore poor families. The world's largest govt funded program: FM Jaitley

11:40 am (IST): Govt to set up two new full-fledged Schools of Planning and Architecture: FM Jaitely

11:39 am (IST): By 2022, every block with more than 50% ST population and at least 20,000 tribal people will have 'Ekalavya' school at par with Navodaya Vidayalas: FM  Arun Jaitley

11:37 am (IST): Govt to launch 'Revitalising Infrastructure and Systems in Education by 2022: FM Jaitley 

11:37 am (IST): Govt to increase digital intensity in education. Technology to be the biggest driver in improving quality of education: FM Jaitley

 11:35 am (IST): Govt to set up fisheries and aqua culture infra fund and animal husbandry infra fund with an outlay of Rs 10,000 cr.

11:34 am (IST): Institutional credit to agriculture to be raised to Rs 11 lakh cr in 2018-19, says FM.

11:31 am (IST): Govt plans to construct 2 crore more toilets under Swachh Bharat Mission: Arun Jaitley

11:30 am (IST): Govt proposes to increase the target of providing free LPG connections to 8 crore to poor women: FM Jaitley

11:28 am (IST): Proposed to raise institutional credit for agriculture to Rs 11 Lakh Crore for 2018-19: FM Jaitley

11:26 am (IST): Propose launch of a restructure national bamboo mission with Rs 1200 crore,10,000 crore has been allocated to fisheries and animal husbandry sector: FM Jaitley

11:24 am (IST): Government proposes to launch 'Operation Greens' on the lines of Operation Flood': FM Arun Jaitley

11:22 am (IST): Agri-Market Development Fund with a corpus of 2000 crore to be set up for developing agricultural markets: FM Jaitley

11:21 am (IST): I am very happy to announce that minimum support price has been set at 1.5 times the production cost for kharif crops: FM

11:20 am (IST): The focus is on low-cost farming, higher MSP. Emphasis is on generating farm & non-farm employment for farmers: FM Jaitley

11:18 am (IST): From ease of doing business, our government has moved to ease of living for the poor and middle class: FM Jaitley

11:15 am (IST): Desh mein
krishi
utpadan record star par hai, 2022 tak
kisaano ki aay
dugni
karenge: FM Jaitley 


11:13 am (IST): Budget 2018 will work with states to provide more resources to improve quality of education: FM Arun Jaitley


11:11 am (IST): Indian economy is on course to achieve high growth of 8 %. Economy to grow at 7.2-7.5% in second half of 2018-19: FM Jaitley


11:06 am (IST): Indian economy has performed very well since our Govt took over in may 2014, It is now the seventh largest in the world: FM Jaitley


11:02 am (IST): Parliament Session Begins.


11:00 am (IST): The Income Tax department has tweeted the photograph of the Budget team of CBDT with Finance Minister Arun Jaitley and MOS(Finance) SP Shukla & MOS (Finance & Shipping) Pon Radhakrishnan and Finance Secretary Dr Hansmukh Adhia. 


10:44 am (IST): Arun Jaitley, the Finance Minister of India all set to present the Budget 2018 after attending the cabinet meeting


10:38 am (IST): Confederation of Indian Industry said, "Reduction of corporate tax could be the ‘Brahmastra’ this Budget. Anticipate a focussed address to agrarian distress in Budget 2018; expect a strong push to public expenditure in today's budget.”


10:27 am (IST): Arun Jaitley meets President Ram Nath Kovind before presenting Budget




 10:23 am (IST): Prime Minister Narendra Modi arrives in Parliament. The cabinet meeting starts. At 11:00 AM, the Finance Minister Arun Jaitley will present the budget of India, a statement of the estimated receipts and expenditure 2018-19.


10:23 am (IST): 






10:07 am (IST): Sitaram Yechury, CPI(M) general secretary tweets, "More than ₹2 lakh crore of corporate loans have been written off between 2014 and 2017. BJP benefits by reaping the cream for its expensive poll campaigns. No amount of fake promises made in the budget can obliterate the fact that unemployment has shot up under this govt. Forget creating new jobs, existing jobs have been lost. "Rise of conservative religious ideologies", increase in vigilantism and violence against minorities as well as other dissenting voices. This govt scoffs at domestic voices but it should notice 'foreign' ones; that too rankings it is so fascinated with.”


9:58 am (IST): Finance Minister of India, Arun Jaitley arrives in Parliament. He is carrying the Budget 2018 papers along with him.








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