Union Budget 2019: All Updates

Speaker Om Birla adjourns the Lok Sabha till Monday. 

Lok Sabha Speaker Om Birla congratulates Nirmala Sitharaman for presenting the full Union Budget of the year.

Taxpayers with an annual turnover of less than Rs 5 crore will have to file only quarterly returns, says Sitharaman

Proposing customs duty on gold and other precious items from 10% to 12%: SItharaman

To discourage the practise of business payments in cash, we are levying 2% TDS in transaction exceeding 1 crore per year from a bank account: Sitharaman

Home buying more affordable under new Budget. An additional deduction of Rs 150000 on interest on loans borrowed under affordable housing, says Sitharaman

In a relief for home buyers, tax reductions for loans

Now, 25% corporate tax rate is applicable to companies with an annual turnover of up to Rs 250 crore. Sitharaman extends it to companies with turnover of up to Rs 400 crore. Only 0.7% companies will remain outside of this 25% rate, she says

Big incentive for purchasing electric vehicles

Boost in tax relief for making India global  hub of electric vehicles

Launch scheme to attract global companies in solar sector, computer servers, laptops, lithium batteries, etc with tax concessions: Sitharaman

Sitharaman quotes from Tamil verses on taxation, saying an elephant given some rice (read tax) is happy and would not trample anybody if he gets that much

Income tax applicable only if annual income is above Rs. 5 lakh: Sitharaman

Direct tax has increased by 78% in last between 2013-14 and 2018-19: Sitharaman

I praise the honest tax-payers: Sitharaman

New coins for visually-impaired people unveiled by PM Modi will be made available shortly: Sitharaman

100 lakh crores for infrastructure over the next five years: Sitharaman

To further encourage women entrepreneurship, Women SHG Interest Subvention Programme to be expanded to all districts in India: Sitharaman

70,000 crore to boost capital of public sector banks. NBFCs will continue to get funding: Sitharaman

17 iconic tourism sites to boost tourism, says Sitharaman

18 new diplomatic offices in Africa and five already opened. Four more in the offing: Sitharaman

Will expand women Self Help Groups to every district of India: Sitharaman

New National Education system for the transformation of Indian Education: Sitharaman

Aadhar card for NRIs with Indian passport after their arrival in India without waiting for 180 days: Sitharaman

Beyond women centric policies we will have women led initiatives: Sitharaman

Railway station modernisation will be launched: Sitharaman

Sitharaman announces BharatNet to aim at internet connectivity in local bodies

Multiple labour laws will be streamlined with four labour codes, says Sitharaman

Efforts to improve the skills of Indian youth in newer areas such as Artifical Intelligence, Big Data, Robotics, etc: Sitharaman

We will start a programme within bouquet of DD channels for start-ups: Sitharaman

To provide NRIs seamless access to Indian equities, NRI portfolio investment route to be merged with foreign portfolio investment route: Sitharaman

A new board under Khelo India scheme to boost sports in India: Sitharaman

Study in India to bring foreign students to India, says Nirmala announcing the initiative: Sitharaman

We now have 2 IITs and IISC Bangalore in the top 200 world higher learning list while there was none five years ago: Sitharaman

National Educational Policy to transform higher education into best in the world. More focus on research and innovation. A national research foundation or NRF to promote research and integrate all: Sitharaman

More PPP for metro and transportation: Sitharaman

Gandhipedia for positive Gandhian values: Sitharaman

PM Modi's Swachh mission (Clean India mission) will be achieved by Oct 2, 2019 : Sitharaman

Time for completion of houses under PMAY reduced from 314 days in 2015-16 to 114 days in 2017-18, enabling the scale of achievement in PMAY : Sitharaman

Internet connectivity in every Panchayat of India, says Sitharaman

New Space India Ltd for harnessing India's space ability commercially

Solid waste management in every village, says Sitharaman

Water for all Indians, says Sitharaman with focus on rural India

1,25,000 km of roads will be upgraded under Pradhan Mantri Gram Sadak Yojana at estimated cost of nearly Rs 80,200 crore, says Sitharaman

Zero budget farming, says Nirmala

Ease of doing business and living should be applied to farmers too : Sitharaman

We will support pvt entrepreneurship in agriculture : Sitharaman

We will support pvt entrepreneurship in agriculture: Sitharaman

Nirmala Sitharaman spells out nearly 1.95 crore houses to be provided to eligible beneficiaries under the Pradhan Mantri Awas Yojana

Local sourcing norms for FDI to be eased for single-brand retailing sector : Sitharaman

Gaon, gareeb, kisan' focus in budget presented by Nirmala Sitharaman

Electronic Fundraising Platform, a social stock exchange,   to be set up to list social enterprises and voluntary organizations working for social welfare objectives : Sitharaman

Interoperability of @RBI depositories and SEBI depositories necessary for seamlesss transfer of treasury bills; govt. will take necessary measures in this regard in consultation with RBI and SEBI : Sitharaman

Existing Know Your Customer norms for Foreign Portfolio Investors to be rationalized and simplified, to make it more investor-friendly : Sitharaman

Credit Guarantee Enhancement Corporation will be set up in 2019-20, action plan to deepen markets for long-term bonds with specific focus on infra sector to be put in place: Sitharaman

Every single rural family except those who are unwilling will have an electricity and clean cooking facility: 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: Sitharaman

Nirmala announces easing of KYC Norms as part of banking reforms: Sitharaman

FAME II scheme aims to encourage faster adoption of electric vehicles by right incentives and charging infra: Sitharaman

Payment platform for MSMEs to be created : Sitharaman

Schemes such as BharatMala, Sagarmala and UDAN are bridging rural urban divide and improving our transport infrastructure: Sitharaman

100% FDI in Insurance intermediaries: Sitharaman

India's FDI flows in 2018-19 remained strong  at $54.2 billion, 6 percent higher than last year: Sitharaman

350 crore rupees allocated for 2% interest subvention for all GST-registered MSMEs on fresh or incremental loans: SItharaman

Several reforms would be undertaken to promote rental housing, current rental laws are archaic as they do not address lessor-lessee relationships fairly: Sitharaman

Further opening up of FDI in aviation, media: Sitharaman

Time to take capital market closer to masses, proposing electronic fundraising platform or social stock exchange to list social enterprises and voluntary organisations working for realising of social welfare objectives so that they can raise capital: Sitharaman

One nation, one grid to ensure power availability to state at affordable rates, says Sitharaman

Movement of cargo on Ganga will grow four times, says Sitharaman

Minimum government maximum governance: Sitharaman

Bharatmala will enhance road connectivity and Sagarmala will help port and waterways connectivity, says Sitharaman

“Yakeen ho to koi raasta niklata hai, hawa ki ot (protection) bhi le kar charagh jalta hai” Sitharaman recited a Urdu couplet. 

New metro railway of 300 km approved during 2018-19: Sitharaman

We need to invest heavily in infrastructure: Sitharaman

Indian economy will be 3 trillion dollar in the current year itself. India is already the third largest economy, says Sitharaman

We are determined and we will complete our task: Sitharaman

It is within our capacity to reach the 5 trillion economy goal, said Nirmala Sitharaman in her introductory speech in the parliament. 

Upholding the Indian tradition in the budget, Union Finance Minister Nirmala Sitharaman on Friday used 'Bahi Khata'  instead of brief case to carry the documents in the parliament. Sitharaman was spotted outside the parliament as well as during her customary meeting with President Ram Nath Kovind carrying the budget documents in a red cloth bag.