With the Lok Sabha elections only a few months away, Finance Minister Piyush Goyal will present NDA governments Budget today amidst a lot of hopes and expectations from across the spectrum of society right from the common people to industries
New Delhi, News24 Bureau, Feb 1: With the Lok Sabha elections only a few months away, Finance Minister Piyush Goyal will present NDA governments Budget today amidst a lot of hopes and expectations from across the spectrum of society right from the common people to industries.
The Budget, the last financial exercise by Prime Minister Narendra Modi led Central government before the General Elections will be presented in the Lok Sabha by Finance Minister Goyal on Friday at 11 am.
If some relief in income tax exemption to the salaried and middle-class people is expected, there is a hope that the Central government may come out with some concrete measures to combat the problem of unemployment, which rose to 45-year high during 2017-18 as per the assessment of the National Sample Survey Office.
Here are the LIVE updates, stay tuned:
- 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
-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
-Individual taxpayers having annual income upto 5 lakhs will get full tax rebate
-Piyush Goyal thanks taxpayers for their contribution towards nation-building
-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
-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
-GST collections in January 2019 has crossed Rs 1 lakh crore
The Group of Ministers is examining how prospective house buyers can benefit under Goods & Services Tax (GST)
-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
-Budget 2019 LIVE: A bevy of taxes was brought under a single regime, says Piyush Goyal
-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
-Allocation for the north eastern 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
-An urgent action is needed to increase hydrocarbon production to decrease imports
-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
-We have already disbursed Rs 35,000 crore for our soldiers under One Rank One Pension, substantial hike in military service pay has been announced
- Piyush Goyal: Our soldiers are our pride and honour; 'One Rank One Pension', which was pending for the last 40 years, has been implemented by us
- Piyush Goyal: 75% of woman beneficiaries under Pradhan Mantri Mudra Yojana, 26 weeks of maternity leave and the Pradhan Mantri Matritva Yojana, are all empowering women in the country
- To ensure cleaner fuel and health assurance, we embarked upon Pradhan Mantri Ujjwala Yojana, a programme to give 8 crore free LPG connections to rural households, 6 crore connections have been given already
-To ensure cleaner fuel and health assurance, we embarked upon Pradhan Mantri Ujjwala Yojana, a programme to give 8 crore free LPG connections to rural households
-FM Piyush Goyal: Instead of rescheduling of crop loans, the farmers severely affected by natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment
- Under the Pradhan Mantri Kisan Samman Nidhi, 6000 rupees per year for each farmer
-This initiative will benefit 12 crore small and marginal farmers, at an estimated cost of Rs. 75,000 crore
-FM Piyush Goyal: Under the Pradhan Mantri Kisan Samman Nidhi, 6000 rupees per year for each farmer, in three instalments, to be transferred directly to farmers' bank accounts, for farmers with less than 2 hectares landholding
-Piyush Goyal: As a tribute to Mahatma Gandhi, world's largest behavioural change movement Swachh Bharat initiated; more than 98% rural sanitation coverage has been achieved; more than 5.45 lakh villages declared ODF #Budget2019
-Finance Minister Piyush Goyal: Current account deficit is expected to be 2.5% this year
-Finance Minister Piyush Goyal in budget speech: Inflation in December 2018 was 2.1%. Fiscal deficit has been brought down to 3.4% in the revised estimate of 2018-19.
-Inflation is a hidden and unfair tax; from 10.1% during 2009-14, we have broken the back of back-breaking inflation
-Piyush Goyal: I can confidently say, India is solidly back on track and marching towards growth and prosperity
-Union Budget 2019 Live: Cabinet approves interim Budget, Piyush Goyal speech shortly
-Finance Minister Piyush Goyal calls on President Ram Nath Kovind at Rashtrapati Bhavan before presenting the Union Budget
-Printed copies of Budget 2019-20 being security checked at the Parliament premises
At present, there is an exemption from paying personal tax on an income up to Rs 2.5 lakh, while income between Rs 2.5 lakh and Rs 5 lakh attracts five per cent tax. A 20 per cent tax is levied on the income in the range of Rs 5 lakh to Rs 10 lakh. An individuals income above Rs 10 lakh is taxed at 30 per cent.
Prime Minister Narendra Modi, while addressing the all-party meeting on Thursday, said the governments focus lies on finding solutions to problems of people.
The country expects from all of us to perform our duties as Parliamentarians in a positive manner and we must deliver to the expectations of the people, he said as the Interim Budget session began on Thursday with President Ram Nath Kovinds address to both the Houses of Parliament in the Central Hall.