The Indian Wire » Politics » Union Budget 2019 [Live Updates]: ‘₹1 Cess per Litre on Petrol and Diesel’, announces FM Nirmala Sitharaman
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Union Budget 2019 [Live Updates]: ‘₹1 Cess per Litre on Petrol and Diesel’, announces FM Nirmala Sitharaman

01:15 PM: Lok Sabha has been adjourned till Monday (July 8)

01:10 PM: Finance Minister Nirmala Sitharaman has concluded her maiden Union Budget presentation. This was the first Budget of the second Narendra Modi-led government.

01:10 PM: ‘I propose to increase special additional excise duty and road and infrastructure cess each one by 1 rupee a litre on petrol and diesel’, says Finance Minister.

01:04 PM: Finance Minister Nirmala Sitharaman announces to setup automated GST refund Model. ‘The fiscal deficit this year is 3.3%, brought down from 3.4%’, says Finance Minister.

01:00 PM: Finance Minister Nirmala Sitharaman says to discourage the practice of making business payments in cash the government proposes to levy TDS of 2% on cash withdrawal exceeding Rs 1 crore in a year from a bank account.

12:55 PM: ‘More than 120 crore Indians now have Aadhar card, therefore for ease of tax payers I propose to make PAN card and Aadhar card interchangeable and allow those who don’t have PAN to file returns by simply quoting Aadhar number and use it wherever they require to use PAN’, says Finance Minister Nirmala Sitharaman.

12:53 PM: Finance Minister Nirmala Sitharaman announces Enhanced Loan Deductions for Affordable Homes.

12: 50 PM: ‘To resolve the issue of Angel Tax the startups and investors who file requisite declarations will not be subjected to any kind of scrutiny in respect of valuation of share premium’, says FM.

12:47 PM: FM announces No Income Tax for Income less than 5 Lakh per year. As I stated earlier, we have taken a slew of measures to ease the burden on small and medium earners. Those having an annual income up to Rs 5 lakhs are not required to pay any income tax. We are thankful to taxpayers who play an important role in nation building

12:43 PM: Direct tax revenue has grown 78 percent from 2014 to 2019: FM Nirmala Sitharaman

12:40 PM: Finance Minister Sitharaman thanks taxpayers who as responsible citizens for their valuable contribution through taxes for all-round development of the country.

12:34 PM: ‘To further encourage women entrepreneurship, Women Self Help Group(SHG) Interest Subvention Programme to be expanded to all districts in India’, says Finance Minister Nirmala Sitharaman.

12:30 PM: Speaking in the lower House of the parliament, Nirmala Sitharaman proposed ‘Gandhipedia’ to sensitize the youth about positive Gandhian values.

12:27 PM: ‘I propose to consider issuing Aadhaar Card for Non-Resident Indians (NRIs) with Indian passports after their arrival in India without waiting for the mandatory 180 days.

12:25 PM: ‘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’, says Finance Minister.

12:20 PM: ‘To popularise sports at all levels, National Sports Education Board for development of sportspersons to be set up under Khelo India’, says Nirmala Sitharaman.

12:13 PM: Speaking about the women of India, Nirmala Sitharama says, ‘Naari to Narayani has been the tradition of the country, quoting Swami Vivekananda, “There is no chance for the welfare of the world unless the condition of women is improved. It is not possible for a bird to fly with one wing’.

12:03 PM: ‘To make India a hub of higher education the government proposes ‘Study in India’ to bring in foreign students to pursue education here’, she says.

12:00 PM: ‘9.6 crore toilets have been constructed since Oct 2, 2014. More than 5.6 lakh villages have become open defecation free. We have to build on this success. I propose to expand the Swachh Bharat mission to undertake sustainable solid waste management in every village’, says FM Nirmala Sitharaman.

11:55 AM: ‘Swachh Bharat has brought enormous environmental and health benefits. 9.6 crore toilets have been constructed and more than 5.6 lakh villages have become open-defecation free’, she says while proposing to expand and undertake solid waste management in every village.

She added, ‘Happy and satisfied to report that India will be made Open Defecation Free on October 2nd, 2019, as per the dream of PM Modi’.

11:50 AM: With the changing economic scenario it’s important to upgrade roads connecting villages to rural markets. For this Pradhan Mantri Gram Sadak Yojana phase 3 is envisaged to upgrade 1,25,000 km of road length over the next 5 years.

11:48 AM: ‘Annual Global Investors’ Meet to be organized in India, using National Investment and Infrastructure Fund(NIIF) as the anchor to get key sets of global players to come and invest in India’, Nirmala Sitharaman said.

11:46 AM: ‘Every single rural family except those unwilling to get access will have electricity by 2022’, she says

11:42 AM: ‘Nearly 1.95 crore houses will be provided to eligible beneficiaries under the Pradhan Mantri Awas Yojana, she says. ‘The completion of houses that required 314 days in 2015-16, it has now come down to 114 days since 2017’, she added.

11:38 AM: Speaking in the Lok Sabha, Nirmala Sithraman said, ‘Various steps to be taken to strengthen Gramin Bharat – Rural India’. This year as we mark the 150 birth anniversary of Mahatma Gandhi. Gaon, Garib and Kisan will remain at the centre of all our schemes, she says.

Talking about schemes, Sitharaman said,  Two mega initiatives – Ujjwala and Saubhagya – have dramatically improved ease of living, easy access of clean cooking gas, and electricity supply to the needy’.

11:35 AM: ‘Rs 350 cr allocated for 2% interest subvention for all GST-registered MSMEs on fresh or incremental loans. Pension for shopkeepers & retailers with a turnover less than Rs. 1.5 crore to be launched under Pradhan Mantri Karma Yogi Maan Dhan Scheme’, says Nirmala Sitharaman.

11:31 AM: India’s FDI flows in 2018-19 remained strong compared to global at $54.2 billion, 6 percent higher than last year. The government will examine options of opening up FDI in media, animation and some other sectors to improve these flows further, she says.

11:27 AM: Pension benefits will be offered to 3 crore shopowners with an annual turnover of less than Rs 1.5 crore under a new scheme called Pradhan Mantri Man Dhan Scheme, she said.

11:23 AM: Finance Minister Nirmala Sitharaman says, ‘Schemes such as ‘Bharatmala’, ‘Sagarmala’ and UDAN are bridging the rural and urban divide, improving our transport infrastructure’.

11:15 AM: ‘The Indian economy will grow to become a $3 trillion economy in the current year itself. It is now the sixth largest in the world. 5 years ago it was at the 11th position’, said Nirmala Sitharaman.

She added, ‘It took us over 55 years to reach $1 trillion dollar economy. But when the hearts are filled with hope, trust & aspiration, we in just 5 years, added $1 trillion’.

 

11:10 AM: ‘Reform, Perform and Transform is our Mantra’, said Finance Minister in Lok Sabha while presenting her maiden Budget.

11:07 AM: Finance Minister Nirmala Sitharaman begins her address in Lok Sabha. ‘The recent election was charged with brimming home and desire for a bright and stable ‘New India’. Voter turnout was highest; every section came to stamp their approval for performing Government’, said Finance Minister in Lok Sabha while presenting her maiden Budget.

11:00 AM: Union cabinet approves Budget 2019. It will be presented by Finance Minister Nirmala Sitharaman at the Lok Sabha shortly.

10:39 AM: Union Cabinet meeting begins in Parliament.

10:30 AM: Copies of Budget 2019 have been brought to the Parliament. Finance Minister Nirmala Sitharaman will present the Budget in Lok Sabha at 11 AM today.

10:15 AM: Finance Minister Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at the Parliament.


Finance Minister Nirmala Sitharaman to present Union Budget 2019 today in Lok Sabha

 

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talharashid

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