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Union Budget 2019: Minute By Minute Live Updates Of Piyush Goyal's Interim Budget

Common man looks forward to this day with hope. Oppositions claim that moves will be populist. But what will the Finance Minister deliver? Here is a minute by minute details of his speech.

Piyush Goyal starts his speech by saying, " People of India gave strong mandate to our government. I am deeply conscious of the absence of Arun Jaitley, wish him speedy recover and long healthy life."

12:53 PM

01 February, 2019

FM concludes budget speech with poetry

This is not just an Interim Budget, but a medium for country development. The country is changing because of the "josh" of the Indian citizens. Development has become a movement in our government, Mr. Goyal says.

Mr. Goyal recites a poetry in Marathi. "I keep one foot, thousands of paths open up. For new India, we have taken such empowering steps that endless possibilities have opened up."

"We have only created the foundation now, now with the people together we will make a huge building of this country," Mr. Goyal says.

Our intent is clean, policy is clear and resolve is unshakeable. "With this I commend the budget to the House," Mr. Goyal says ending his Budget speech.

12:52 PM

01 February, 2019

"Thank you tax payers!" Mr. Goyal says.

Piyush Goyal praises the tax payers, says your tax provides toilets, healthcare, education and many more.

12:38 PM

01 February, 2019

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

FM Piyush Goyal says 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

12:34 PM

01 February, 2019

Individual taxpayers having annual income upto 5 lakhs will get full tax rebate

Finance Minister says individual taxpayers having annual income upto 5 lakhs will get full tax rebate

"Individual taxpayers with annual income up to Rs. 5 lakh will get full tax rebate. Individuals with gross income up to Rs. 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities. Around three crore middle class taxpayers will get tax exemption due to this measure," Piyush Goyal said.



12:27 PM

01 February, 2019

The fiscal deficit as a proportion of GDP- 3.4% for the coming year, as there is a need to provide for income support for farmers

12:24 PM

01 February, 2019

Rs 1 crore loan can be obtained under 59 minutes

Rs 1 crore loan can be obtained under 59 minutes, says Finance Minister Piyush Goyal while presenting the interim Budget for 2019-20 in the Lok Sabha

12:23 PM

01 February, 2019

FM announces higher allocation for MNREGA for rural job creation

FM announces higher allocation for MNREGA for rural job creation

12:19 PM

01 February, 2019

North East India gets a smile: Allocation For Northeast

"The government has proposed to increase allocation for the northeast region to Rs 58,166 crore this year. It will be a 21 per cent rise over the previous year," Piyush Goyal said.

12:18 PM

01 February, 2019

We are poised to become a 5 trillion dollar economy in the next 5 years and we aspire to become a 10 trillion dollar economy in the next 8 years

12:13 PM

01 February, 2019

Tax Rates: All returns to be processed within 24 hours and refund simultaneously

"Within the next two years, assessment of all tax returns should be done electronically without any personal interface," Piyish Goyal said. "Direct tax collections up from 6.38 lakh crore in 2013-14 to almost 12 lakh crore; tax base up from 3.79 crore to 6.85 crore. All income tax returns to be processed within 24 hours."

12:12 PM

01 February, 2019

GST has been continuously reduced resulting in relief of Rs 80,000 crore rupees to the consumers; Most items of daily use are now in the 0%-5% tax bracket

12:07 PM

01 February, 2019

Direct tax collections increased from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore; The tax base is up from Rs 3.79 crore to 6.85 crore.

Finance Minister Piyush Goyal says direct tax collections increased from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore; The tax base is up from Rs 3.79 crore to 6.85 crore

12:04 PM

01 February, 2019

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

FM Piyush Goyal says that within nearly two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by officials.


12:04 PM

01 February, 2019

Pension for unorganized sector workers

12:02 PM

01 February, 2019

A single window clearance for filmmaking to be made available to filmmakers, anti-camcording provision to also to be introduced to Cinematography Act to fight piracy

12:00 PM

01 February, 2019

FM announces to set up one lakh digital villages in the next five years

This may prove to be one of the biggest announcements of today's budget

12:00 PM

01 February, 2019

Allocation for the northeastern region has been proposed to be increased to Rs 58,166 crore in this year, it will be a 21% rise over the previous year

Piyush Goyal says allocation for the northeastern region has been proposed to be increased to Rs 58,166 crore in this year, it will be a 21% rise over the previous year.

11:59 AM

01 February, 2019

Roads, Transport And Infrastructure

FM Says, ""India is the fastest highway developer in the whole world, 27 km of highways are built each day. Projects stuck for decades have been completed. Sagar Mala will help faster handling of import and export cars. India now has over 100 operational airports. And when there is such progress, it is only natural that jobs are also created. Indian Railways has experienced the safest years in its history. All unmanned level crossings are completely eliminated on broad gauge networks." 

11:59 AM

01 February, 2019

Finance Minister Piyush Goyal: An urgent action is needed to increase hydrocarbon production to decrease imports

11:57 AM

01 February, 2019

Defence Budget

Piyush Goyal says, ""For the first time, the defence Budget has been raised to over Rs 3 lakh crore," Piyush Goyal said. "Our soldiers who protect our borders are the pride and honour of the nation. In our election manifesto we promised one rank, one pension. We have resolved this and disbursed over Rs 35,000 crore in the last few years for our jawans." 

11:56 AM

01 February, 2019

Free Gas Connection For The Poor

"To ensure cleaner fuel and health assurance, we embarked on PM Ujjwala Yojana, a programme to give eight crore free LPG connections to rural households, six crore connections given already," Piyish Goyal said.

11:56 AM

01 February, 2019

Finance minister Piyush Goyal says the defence budget has enhanced beyond Rs 3 lakh crore

11:54 AM

01 February, 2019

Our soldiers are our pride and honour; 'One Rank One Pension', which was pending for the last 40 years, has been implemented by us

11:52 AM

01 February, 2019

Union Budget 2019: Employment

"EPFO shows two crore accounts in two years. This shows formalisation of the economy. When there is such a high growth, jobs are created," Piyush Goyal said. Gratuity limit has been increased from Rs 10 lakh to Rs 30 lakh. Pension scheme for unorganised sector workers with monthly income up to Rs 15,000 will be given. Assured monthly pension of Rs 3,000 after they retire on reaching 60," he said.

11:51 AM

01 February, 2019

Union Budget 2019: Programme For Cow Protection

Radhtriya Kamdhenu Aayog to be set up for cows. "The government will never step back from protection of the gau mata," Piyush Goyal said. A 2 per cent interest subvention for animal husbandry, fisheries and farmers have been announced.

11:51 AM

01 February, 2019

Union Budget 2019: Piyush Goyal On RBI

"We told RBI to evaluate all banks and out their actual state in front of the nation. Because of our efforts, restrictions have been lifted on three banks. We ran a corruption-free government," Piyush Goyal said.

11:49 AM

01 February, 2019

Budget 2019: Piyush Goyal On Inflation

Unlike the last government, our government broke the back of back-breaking inflation. Inflation is a hidden tax on the poor. Last five years has seen India being recognised as a bright spot in global economy.

11:36 AM

01 February, 2019

Five Economic Challenges Faced By Government For Interim Budget 2019

GDP growth

The economy has logged growth rates of 8.2 per cent and 7.1 per cent in the first and second quarters of fiscal year 2018-19 respectively.


Fiscal consolidation

Fiscal deficit - the amount of money by which a government's expenses in a year exceed its revenue - has already crossed the full-year estimate by more than 15 per cent in first nine months of 2018-19.


GST collections

The government aims to achieve GST collections worth Rs. 12.9 lakh crore in 2018-19. In the first three quarters of 2018-19, GST collections stood at Rs. 8,71,043 crore, official data shows.


Bad loans

Non-performing assets or bad loans remain an issue in the country's banking sector. Twenty one state-run banks in the country - holding two-thirds of assets in the sector - account for the bulk of the record $150-billion (around Rs. 11 lakh crore) of soured loans.


Trade

Trade deficit - which occurs when imports exceed exports - widened to $129.9071 billion in first eight months of financial year 2018-19 (April-November), from $106.3734 billion in the corresponding period a year ago, latest RBI data shows.

11:31 AM

01 February, 2019

I can confidently say, India is solidly back on track and marching towards growth and prosperity


11:30 AM

01 February, 2019

Finance Minister Piyush Goyal begins budget speech in the Parliament

11:29 AM

01 February, 2019

Delhi: Piyush Goyal arrives at the Ministry of Finance.

The finance minister will  present interim Budget 2019-20 in the Parliament today.


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