Budget 2019 Live updates: Finance minister Nirmala Sitharaman presents Modi 2.0 govt’s first Budget

Lok Sabha adjourned till Monday 11 am

Would thank the response for the crowd sourcing. Have benefitted from crowd source. The Fiscal deficit this year is 3.3% brought down from 3.4%. 

Customs duty exempted on certain Electric Vehicles (EVs). Export duty is being rationalised on finished leather. Propose to increase special additional duty and road and infrastructure cess on diesel and petrol by Re 1/litre, increase custom duty on gold and other precious metal from 10 to 12.5%. 

Basic customs duty has been increased in cashew kernels, metal, tiles, marble  slabs, CCTV camera, IP camera. Exemptions on customs duty on certain electronic items which are now being manufactured in India are being withdrawn. 

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 crore and above. The effective tax rate for these categories will increase by around 3% and 7%, respectively

To discourage practice of making business payments in cash, I propose to levy TDS of 2% on cash withdrawal exceeding Rs 1 crore a year from a bank account: Nirmala Sitharaman

More than 120 crore Indians now have Aadhaar. Sitharaman proposes to make the two documents interchangeable so that Aadhaar can be used for verification with no requirement for PAN

FM Nirmala Sitharaman proposes to allow an additional tax deduction of Rs 1.5 lakh on interest paid on housing loans for self-occupied house owners

Government attempts to resolve Angel tax. No scrutiny for start-ups. Funds won't come under I-T scrutiny - FM Sitharman 

Currently, the lower tax rate of 25% is applicable to firms with annual turnover of Rs 250 crore. I propose to widen this to all companies with annual turnover of up to Rs 400 crore. This will cover 99.3% of all companies: FM Nirmala Sitharaman 

Direct tax revenue has grown 78 percent from 2014 to 2019: FM Nirmala Sitharaman

'Just a few mounds of rice cooked from a small piece of land is enough for the elephant. But if the same elephant enters a paddy field it will end up trampling more than it would consume' says Nirmala Sitharaman adding, the tax collection has increased to 11.37 lakh crore to 2018-19 from 6.37 lakh crore from 2013-14.

Finance minister thanks taxpayers of India 

India's sovereign external debt to GDP is among the lowest globally at less than 5%. A new series of coins including for Rs 20 will be made available for public use shortly 

FM Nirmala Sitharaman proposes Rs 100 lakh crore investment for infrastructure over 5 years

For purchase of high-rated pooled assets of financially sound NBFCs amounting to a total of Rs 1 lakh crore, govt will provide a one-time six-month partial credit guarantee to PSBs for first loss up to 10%

Government proposes to return the regulation authority over housing finance sector from National Housing Board to the RBI: FM

PSBs are now proposed to be further provided Rs 17,000 crore of capital to boost credit

Sensex currently at 39,788.65, down by 118.99 points.

Propose to consider issuing Aadhaar to NRIs with Indian passports after their arrival in India without waiting for the mandatory wait of 180 days: Nirmala Sitharaman 

Contribution of women is significant in every sector. The recent election saw record turnout of women voters, at par with men. We also have a record 78 women MPs in the House. Every verified woman having a Jan Dhan account, an overdraft of Rs 5000 will be allowed. One woman in every SHG shall be made eligible for a loan of Rs 1 lakh under MUDRA scheme: Nirmala Sitharaman 

There is no chance for the welfare for the world unless the condition of the woman is improved. It is not possible for a bird to fly with one wing. - Nirmala Sitharaman quotes Swami Vivekananda 

About 35 crore LED bulbs distributed under the Ujjwala scheme, leading to a cost saving of Rs 18,341 crore annually: Nirmala Sitharaman 

Machines are doing scavenging which saves the people of manual scavenging, their dignity - Finance Minister 

The govt is proposing to streamline multiple labour laws into set of four labour codes. This will ensure that filing of returns will get standardised and streamlined - Nirmala Sitharaman 

India will be soon a hub of higher education. 'Study in India' initiative will be started for the exchange of foreign students: Nirmala Sitharaman

None of our technological institutions were in top 200 in 2014. But now, there are three in the list - Finance minister 

A Gandhipedia is being developed to sensitize youth and society at large on positive Gandhian values: FM

More than 95% of our cities have declared themselves open-defecation free. We aim to make India open-defecation free by October 2, on 150th birth anniversary of Mahatma Gandhi: FM - Nirmala Sitharaman 

Under Pradhan Mantri Gramin Digital Saksharata Abhiyan, 2 crore Indians have been digitally literate - FM Nirmala Sitharaman 

This scheme, initiated in 2014 has achieved immense success. 9.6 crore toilets have been constructed since October 2, 2014. More than 5.6 lakh villages have become open defecation free : Nirmala Sitharaman

We seek to provide water to all rural households under 'har ghar jal'. Jal ministry to focus on providing adequate drinking water, which is a primary area of concern. Jal Jeevan will converge with states : FM

Will go back to basics. We need to replicate this innovative model. In a few states, farmers are also practising this. - Nirmala Sitharaman

The government will work with State to benefit from eNAM. Ease of doing business and ease of living should apply to farmers too: FM

Govt will work with states to allow farmers to benefit from National Agriculture Market or eNAM: FM

1.25 lakh kilometers of roads will be upgraded over the next 5 years under Pradhan Mantri Gram Sadak Yojana at the cost of Rs.80,250 crores : FM

The department of fisheries will establish robust Fishery management which will address critical gaps in the value chain, including production, post-harvest management and quality control, : Nirmala Sitharaman

By 2022, power and LPG will be provided to all households except to all those unwilling : Nirmala Sitharaman 

The Centre of our efforts are Gaon (village), Garib (poor) and Kisan (farmers) : FM

Time has come to harness this ability commercially. A public sector enterprise, New Space India Limited, has been incorporated to tap the benefits of R&D carried out by Isro. The company will spearhead commercialization of various space products: Nirmala Sitharaman

Pension benefit to be extended to around 3 crore retail traders and shopkeepers with an annual turnover less than 1.5 crores under Pradhan Mantri Karam Yogi Man Dhan Scheme: FM

Government is mulling organizing an annual global investors' meet in India: FM

FDI inflows have remained robust despite global headwinds. India's FDI inflows remained strong despite global slippages. We saw a 6% y-o-y growth in foreign investment: FM

As key source of capital to Indian economy, it is important to ensure hassle-free experience to foreign portfolio investors. We plan to streamline KYC to make it more investor-friendly: FM

Govt will create a payment platform for MSMEs to enable filing of bills and payment on the platform itself: FM

It is proposed that several reform measures will be taken up to promote rental housing: FM

Our govt launched UDAY in 2015 for financial and operational turnaround of discoms. We are analyzing the scheme and plan to improve it further: Nirmala Sitharaman 

Railway infra would need an investment of Rs 50 lakh crore between 2018 and 2030: FM

National Common Mobility Card was launched by PM Modi in March 2019. This will enable people to pay multiple transport charges across India. This card runs on RuPay card and allows users to pay bus charges, parking charges, etc: Nirmala Sitharaman 

Nirmala Sitharaman believes time is right for India to enter into aviation finance

Government has given a massive push for all kinds of conntectivity. The ambitious programme of Bharatmala will help develop roads and highways, while Sagarmala will enhance port connectivity: Nirmala Sitharaman

India will become a $3 trillion economy this year: Nirmala Sitharaman

Mega programmes that we initiated in the first five years will now be further accelerated, will further simplify procedures: FM

Voters gave their approval to a performing government. People have validated two mandates - national security and economic growth

Finance Minister Nirmala Sitharman presents Budget 2019

Budget 2019 has been approved by the Union Cabinet. Finance Minister will present the budget in the Lok Sabha momentarily

Delhi: Copies of #Budget2019 have been brought to the Parliament. Finance Minister Nirmala Sitharaman will present the Budget in Lok Sabha at 11 AM today.

Finance minister Nirmala Sitharaman arrives at the Parliament

Delhi: Finance Minister Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at the Parliament. pic.twitter.com/vry6cs1caO

— ANI (@ANI)

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

Sensex at 40,027.21, up by 119.15 points. #Budget2019

Finance Minister Nirmala Sitharaman, MoS Finance Anurag Thakur, Finance Secretary S C Garg, Chief Economic Advisor Krishnamurthy Subramanian and other officials outside Finance Ministry. #Budget2019 to be presented at 11 am in Lok Sabha today

Delhi: MoS Finance Anurag Thakur offers prayers ahead of #Budget2019. Finance Minister Nirmala Sitharaman to present the Budget at 11 am in Lok Sabha today

Finance Minister Nirmala Sitharaman has arrived at the North Block which houses the Ministry of Finance.

The government is developing 17 iconic tourism sites as world-class tourist centres to improve the flow of domestic and foreign tourists to these destinations. Documentaries with anthropological details will be stored for tourists - Nirmala Sitharaman 

Propose to establish National Research Foundation to fund and coordinate research in India: Nirmala Sitharaman