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Budget 2014 Live Update

03:41 PM

Despite price hike in Budget, Amazon, Flipkart selling iPhones at old rates
 
Apple Inc on February 5 revised the price of its iPhones and smart watches in India. The move from the US-based technology giant came after Finance Minister Arun Jaitley in his Budget 2018 speech announced a hike in import duty on smartphones to 20 per cent from 15 per cent earlier.
Apple said the price hike had come to effect starting February 5, but most e-commerce platforms in the country continue to sell the iPhones at their original launch prices – that is, lower than the revised prices.


02:55 PM

Markets slump: Will govt scrap LTCG tax? Adhia says will 'look into' fixes

The government will look into what it can do after a slump in local market reflecting global sell-off, the finance secretary said on Tuesday.
 
Hasmukh Adhia said he will discuss the issue of fall in local markets with Finance Minister Arun Jaitley.


02:28 PM

RBI to turn hawkish, keep rates on hold through middle of 2019: Poll
 
The Reserve Bank of India will keep interest rates on hold through at least the middle of 2019 even though inflation is above its medium-term target and is expected to stay that way, a Reuters poll found.  
 
A majority of economists also expect the central bank's tone to turn hawkish when it announces its latest policy decision on Wednesday. 
 
While retail inflation hit a 17-month high in December and is expected to remain above the RBI's 4 per cent target over the coming 12 months, growth in Asia's third-largest economy likely slowed markedly in the financial year ending March 31, complicating the RBI's policy path. 


06:35 PM

Murmurs of discontent among NDA allies over election-year budget
 
The Telugu Desam Party (TDP), a key ally of the Bharatiya Janata Party (BJP), on Friday said it was disappointed with the Union Budget but would not walk out of the National Democratic Alliance (NDA) just yet.


06:16 PM

Budget announcements on the farm sector: Markets, not MSP, is the focus
 
The budget announcements on the farm sector, especially the one that commits to ensure a minimum support price (MSP) for crops, which is equal to 1.5 times the cost of production—which the Swaminathan commission had recommended in 2006—raised eyebrows. 


06:05 PM

Budget 2018: Tax loophole plugged for corporate mergers and amalgamations
 
The Union Budget for 2018-19 has proposed to tax all mergers and amalgamations in which a company with higher accumulated profit merges with a company with lower profits, or with a company that made losses, and reduced capital to avoid paying dividend distribution tax (DDT).


06:04 PM

Budget 2018 impact: Steel sector to see a marginal increase in fuel cost
 
The steel sector is likely to see a marginal increase in fuel cost, since the new Customs duty surcharge will affect the price of imported coking coal. 


05:42 PM

Budget 2018: Proposal on A-rated paper likely to deepen bond market
 
Allowing fund managers to invest in 'A' rated securities paper is expected to expand the bond market, improve liquidity in debt instruments and allow long-term players like insurance and pension companies to earn higher returns.


05:38 PM

Budget 2018 impact: Govt volte-face on insurance merger surprises regulator
 
The government’s announcement in the Union Budget on Thursday to merge three state-owned general insurance companies — National Insurance, Oriental Insurance and United India Insurance — has caught the sector regulator Insurance Regulatory Development Authority of India (IRDAI) by surprise.

 


05:07 PM

It is not protectionism of kind other countries are doing: Hasmukh Adhia
 
It is not protectionism of the kind other countries are doing. We are saying our MSME (micro, small and medium enterprises) sector is capable of making certain goods that other countries are trying to dump in India. 


05:01 PM

Budget 2018: LTCG impact on markets is for short term, says Subhash Garg
 
A day after Budget 2018-19, Economic Affairs Secretary Subhash Garg defended the Centre’s fiscal stance and said that any revenue concerns arising from the goods and services tax were now a thing of the past.


04:36 PM

Budget 2018 impact: 10% surcharge on customs duty to pinch power sector
 
The 10 per cent surcharge on Customs duty for import of all items would hit the power sector. The equipment and generation industry is expecting an increase in cost across the value chain.


04:34 PM

Will 'ModiCare' succeed? Majority on Facebook, Twitter say no: BS poll

The mega healthcare plan (informally known as 'ModiCare', 'NaMoCare') announced in the Union Budget 2018-19 has been given an overwhelming thumbs-down in two public polls conducted by Business Standard.com. 68% voters on Facebook and 57% on Twitter are of the opinion that the scheme is unlikely to succeed. The healthcare plan aims to provide 100 million poor families with insurance cover against hospitalisation will cost up to Rs 12,000 crore annually.


04:28 PM

LTCG tax: Higher taxes spark panic among foreign portfolio investors

The government’s decision to reintroduce the LTCG tax has spooked foreign portfolio investors (FPIs), who rushed to the finance ministry on Friday to seek relief. Sources said FPIs were concerned about the escalation in the costs for investing in India vis-à-vis other Asian and emerging markets (EM). Overseas investors were also worried whether the ‘grandfathering’ relief would be extended to them.


04:26 PM

Twitter India registers over 14 lakh budget-related posts

Twitter India recorded over 14 lakh budget-related conversations in the past week (January 26 to February 2), with healthcare being the most talked about topic followed by demonetisation.


04:25 PM

How Jaitley punctured Bitcoin mania: Global prices slid 25% after Budget

Before Jaitley spoke about Bitcoin in his Union Budget speech on Thursday, the popular cryptocurrency was trading in the international market at $10,232. And then came the minister’s statement: "The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate the use of these crypto assets in financing illegitimate activities or as part of the payment system.” Suddenly, the price started falling and it dropped to $7,614 by Friday evening before recovering later.


11:07 AM

Budget 2018: Jaitley told don't kill cryptocurrencies in India; here's why
 
Bipin Preet Singh, Co-founder of e-wallet MobiKwik, reacted that "the government should consider regulating cryptocurrencies than curbing their use entirely".


11:05 AM

Jaitley gives Defence budget 8% hike, unlikely to even cover rise in cost

The 2018-19 Budget has raised defence allocations from the current year’s revised estimate of Rs 3.74 trillion to Rs 4.04 trillion, an increase of Rs 303.61 billion, or 8.1 per cent, which, analysts say, is insufficient to even cover year-on-year inflation in manpower and equipment costs.


11:04 AM

Niti Aayog vice chairman Rajiv Kumar backs Budget 2018
 
Rajiv Kumar said that 'It's up to the Finance Minister and the Prime Minister to take a call on suggestions given to them, but if anyone is under the impression that this last budget will be a populist one then they're wrong.


11:00 AM

2,706 BSE-listed companies to gain from cut in corporate tax rate
 
Over 2,700 companies listed on the Bombay Stock Exchange (BSE) are likely to gain from the proposed cut in corporate tax rate to 25% proposed by Budget 2018 from the existing 30%.


10:58 AM

Kerala Budget: GST disappointing, benefits only corporates, says state FM
 
The Kerala government on Friday said GST was highly disappointing and that it benefited only corporates. Meanwhile, the state, which tabled its Budget for 2018-19, has said fiscal deficit will be reduced to 3.1 per cent in 2018-19, while revenue deficit will be reduced to 1.6 per cent
 
Thomas Isaac in the budget speech said the main issue with GST is lack of a full-fledged administrative system.
 
"Demonetisation was an ‘Ockhi’ (cyclone) on the economy. End consumers are not getting the actual benefits of GST as corporates are making the most out of this," he said.


10:54 AM

Jaitley budgeted Rs 2.48 billion for 2018-19 for the purpose of conducting elections. The EC had spent Rs 1.18 billion on conducting elections in the current fiscal, according to revised estimates of 2017-18.


10:53 AM

Polls on cards? FM Jaitley increases election budget by 110 per cent
 
Finance Minister Arun Jaitley gave 110 per cent more funds to the Election Commission (EC) in the financial budget for 2018-19 for the purpose of conducting elections in the country. This has given rise to the speculation that the Union government may advance the general elections scheduled in March next year.


10:48 AM

Budget 2018: FM Jaitley announces new tunnel in Arunachal to counter China
 
Finance Minister Arun Jaitley today announced the government's plan to build a tunnel through the Sela Pass located at an elevation of 13,700 ft which will ensure faster movement of troops in Tawang, a strategically-located town in Arunachal Pradesh bordering China.
 
The defence ministry said the approval for the construction of Sela pass in Arunachal Pradesh has given further impetus to the defence preparedness.


10:40 AM

Investment tripled in rural, roads, housing in the last 3 years: FM to India Inc


10:38 AM

Nifty Midcap Index losses almost 1000 points in trade as Arun Jaitley addresses the industry


10:37 AM

No Other country has 5% tax slab, says Arun Jaitley to India Inc


10:36 AM

Sensex slips over 500 pts; FM addresses India Inc post Budget


10:36 AM

India is out of high inflation era; oil prices are a matter of concern, Arun Jaitley tells India Inc


10:35 AM

A committee is looking at NPAs in SMEs, there will be a separate set of regulations: Arun Jaitley tells India Inc


10:35 AM

India has serious problem related to tax complaince: Jaitley


10:35 AM

Raising large-term capital gain tax (LTCG) was a tough call and had been pending for years: Jaitley


10:33 AM

No point in merging NPA-laden Public Sector Banks until their financial health is restored, Arun Jaitley tells India Inc.


10:30 AM

We'll focus on providing aid to irrigation sector in reral areas


10:29 AM

There are segments that are largely depended on the government's support: Jaitley


10:28 AM

Manufacturing sector has picked up, says Jaitley.


10:27 AM

Know Finance Minister's first interaction with the industry post Budget 2018 announcements


10:26 AM

FM Arun Jaitley says Ministry of Tourism will work out details w.r.t choosing 10 circuits


10:25 AM

FM Jaitley says we are on a path of revival in exports that will be a major positive.


10:23 AM

FM Jaitley also expects a bump in GST collections. He said that the government is prepared for that.


10:23 AM

"The philosophy behind the budget was to lend support to sectors where actually support is required," Arun Jaitley.


10:22 AM

It can be on a trust model, it can be on an insurance model. It won't be on a reimbursement model. The date of implementation will be in the next financial year: Arun Jaitley


10:22 AM

Finance Minister Arun Jaitley
 
Customs duty has been increased to promote domestic manufacturing


10:22 AM

Finance Minister Arun Jaitley
 
MS Swaminathan Committee stated MSP must be a level above cost of production.


10:22 AM

Finance Minister Arun Jaitley
 
Plan is to put new MSP in place from upcoming harvesting season.


10:21 AM

Arun Jaitley
 
Had to strike a balancing act between managing farm stress and inflation


10:21 AM

There are a large number of sectors that will do well with or without government aid and there are segments of the economy that need a large amount of government support. Government has tripled investment on rural roads, housing in the past three years: Jaitley


10:20 AM

Finance Minister Arun Jaitley
 
Manufacturing sector has picked up in last few months; there was a need to focus on infrastructure sector.


10:16 AM

Finance Minister Arun Jaitley
 
Stress in the farm sector is real; a call had to be taken on reasonable MSP.


10:15 AM

Finance Minister Arun Jaitley
 
We have not been able to put up all the anti-evasion measures in place. So far, it is voluntary compliance. Once these measures are in place, revenue should not be much of a challenge.


10:13 AM

Finance Minister Arun Jaitley
 
In the coming year, I see a more comfortable situation as far as revenue is concerned. I had said, tax buoyancy in direct taxes has been 1.1, but because of demonetisation and GST it has been 1.9-2.1. The number of assessees has gone up.


10:11 AM

Finance Minister Arun Jaitley
 
When you start, you allocate a certain amount, and then provide as is required. We have provided Rs 20 billion (Rs 2,000 crore).


10:11 AM

Finance Minister Arun Jaitley
 
The health scheme was originally envisaged in the Niti Aayog itself. An expert in health public health who after detailed consultation, had come up with this idea. Originally, the presentation he made to the PM was for a universal health-care scheme. We felt we were unsure of the cost involved and the magnitude of the scheme. So we started it at a more achievable scheme. It takes care of hospitalisation and secondary and tertiary care. It will involve state and private hospitals. It is not based on a reimbursement model. It could be based on a trust model. Date of implementation is FY19.


10:11 AM

Finance Minister Arun Jaitley
 
You can see some connection between different steps taken by the government, where some social security setup in India is beginning to take shape.


10:09 AM

Finance Minister Arun Jaitley
 
The principle behind the Budget was to lend support to sectors where support was required.


10:09 AM

On LTCG, it was a tough call pending for many years. We thought this was the most appropriate moment when we could tax it: Arun Jaitley


10:08 AM

Arun Jaitley says

On the taxation policy, the space available is very little. Even as we expand the tax next, compliance level is not very high. Within that space, we have carefully chosen which are the sections to whom we can give relief.


10:08 AM

Finance Minister Arun Jaitley's first interaction with India Inc post Budget 2018 announcement

Under the health care protection scheme, where we target 100 million (10 crore) families in India, that is where the resource allocation was required: Jaitley


08:35 AM

Budget 2018 hikes road cess by Rs 8, petrol to cost Rs 73/litre in Delhi

Even as the Union Budget 2018-19 proposed levy of road and infrastructure cess of Rs 8 per litre on petrol and diesel, while abolishing the additional excise duty of Rs 6, global prices pushed petrol to a nearly three-and-a-half-year high of Rs 73.05 per litre in Delhi on Thursday.
 
The basic excise duty on unbranded petrol was slashed by Rs 2 from Rs 6.48 per litre and on branded petrol from Rs 7.66 per litre.


07:39 AM

Positive, negative and neutral: Three major changes in Budget 2018
 
Finance Minister Arun Jaitley has left savers and investors largely alone. There are three major areas of change in this year’s Budget for them; the first one is positive but only for senior citizens, one neutral and the third one will seem negative after a few months.


07:32 AM

Opposition slams Budget 2018, terms it 'jumlanomics', 'big bluff'

Opposition parties including Congress, CPI-M and Trinamool Congress on Thursday slammed the Union Budget as "jumlanomics" and "big bluff" and said the Modi government was still promising fair price to farmers despite being in office for nearly four years.
 
Congress President Rahul Gandhi said Finance Minister Arun Jaitley had made "fancy" announcements with no matching funds.


06:45 AM

Budget 2018: Govt woos farmers with higher MSP; MNREGA allocation unchanged

In line with the expected thrust on the farm and rural sector, Finance Minister Arun Jaitley on Thursday announced that the Minimum Support Price (MSP) for notified kharif crops will be 1.5 times the input cost, and also stepped up total budgetary allocation for the sector for next fiscal by about five per cent.


06:23 AM

Budget 2018: Important measures required to return to fiscal reforms path
 
The government has not been able to adhere to its fiscal deficit targets for 2017-18. This was not unexpected. The bond markets had factored in fiscal slippage resulting in a rise in bond yields by 110 basis points over the last four months. Following the presentation of the Budget, despite the fiscal slippage, bond yields have risen marginally—the fiscal slippage was not as bad as markets feared.


06:21 AM

Bond dealers and economists give thumbs down to 'inflationary' Budget

Bond dealers and economists have interpreted the Budget this year as inflationary, describing the government’s numbers are aggressive.


11:47 PM

Budget 2018 may broaden Ujjwala to light up rural housing scheme too
 
The National Democratic Alliance government’s flagship cooking gas scheme is likely to be linked to the rural housing scheme in order to provide wider coverage. An announcement on widening of the programme is likely to be made in Thursday’s Budget. 
 


11:46 PM

Budget 2018: Of each rupee in govt kitty, 19 paise are from borrowing
 
For every rupee in the government coffer, 19 paise will come from market borrowing and other liabilities in 2018-19, even as it will spent 18 paise towards interest payment.
 


11:44 PM

Budget 2018 Gold policy: Spot exchange on cards, GMS to be revamped
 
After over two years of discussion, the government has finally recognised the need for a comprehensive gold policy. While he refrained from giving details he emphasized three aspects -- policy formation, gold spot exchange and tweaking gold deposit scheme.


11:39 PM

Budget 2018 makes life more expensive. Full list of what's costlier
 
Cellphones, cars and motorcycles, fruit juices, perfumes and footwear are among the several items that will become costlier after Finance Minister Arun Jaitley on Thursday hiked customs duties on them in Union Budget 2018-19.


11:37 PM

Budget 2018: Arun Jaitley deviates from fiscal consolidation road map
 
Finance Minister Arun Jaitley has chosen to deviate from the path of fiscal consolidation by budgeting the fiscal deficit target for 2018-19 at 3.3 per cent of the gross domestic product (GDP) as against the target of 3 per cent set earlier under the fiscal consolidation road map. This will be the second straight deviation from the glided path of fiscal consolidation. 


11:35 PM

Budget 2018: What Standard deduction and tax on dividend mean for you
 
While the finance minister introduced a standard deduction for all salaried employees, at the same time he raised the cess levied on income tax. For investors, there was also the negative of tax on dividend income from equity mutual funds (beside long-term capital gains or LTCG tax).  


11:34 PM

Budget 2018: Spotlight shifts on health, says HDFC Life MD Amitabh Chaudhry
 
There is a clear focus on the rural and agriculture sectors, the lower income category and the MSMEs. In a year with multiple elections looming on the horizon, the government has eschewed outright populism and has made efforts to continue down the fiscal consolidation path, albeit with an allowance for the revenue distortions caused due to structural changes implemented during the year.


11:33 PM

Budget 2018: Apple's India plans hit by hike of 20% customs duty on mobiles
 
The Union Budget for 2018-19 presented by the finance minister Arun Jaitley on Thursday may jeopardise Apple’s plans for India. While the global giant in consumer technology is getting aggressive about the prospects in the India market as its global sales begin to falter, the latest announcement by the government to raise customs duty on mobile handsets to 20 per cent will hit it hard.


11:29 PM

Budget 2018: From farm exports to organic farming, all you need to know
 
The government will develop and upgrade the existing 22,000 rural haats into Gramin Agricultural Markets (GrAMs). The physical infrastructure in these GrAMs will be strengthened using MGNREGA and other government schemes. 


11:27 PM

Budget 2018: FM announces lower PF contribution of 8% for women employees
 
In a bid to boost women’s participation in formal sector jobs, Finance Minister Arun Jaitley on Thursday announced a lower rate of contribution towards schemes under the Employees’ Provident Fund Organisation (EPFO) scheme for women workers.


11:25 PM

10-yr bonds fall as Budget 2018 sets larger deficit target of 3.3% for FY19
 
Indian bonds slumped on Thursday after the government set a slightly wider-than-expected budget deficit target for the next financial year, while shares clawed back earlier bigger losses as investors welcomed spending in key areas of the slowing economy.


11:23 PM

Budget 2018: After all the hype, Jaitley delivers fairly balanced outcome
 
Budget 2018 came out fairly balanced, with disappointments on the income tax and LTCG tax fronts for households and markets, respectively.


11:21 PM

Budget 2018: Corp tax lowered to 25% for cos with turnover of Rs 2.5 bn
 
Finance Minister Arun Jaitley today proposed to lower corporate tax rate to 25 per cent for businesses with turnover up to Rs 2.5 billion. "This will benefit entire MSME sector which accounts for 99 per cent of companies filing taxes," Jaitley said while announcing the 2018-19 Budget.


11:19 PM

Budget 2018 is a good one, will benefit common man, says MoS Finance
 
Minister of State (MoS) for Finance, Shiv Pratap Shukla on Thursday assured that the Union Budget 2018 would benefit both, the common people and the nation.


11:18 PM

Budget 2018 Finance Bill full text: No change in I-T slabs; MSMEs get boost
 
Finance Minister Arun Jaitley tabled the Union Budget for the year. In hi speech he said did not change the personal income tax slabs. The long-term capital gains will be taxed at 10 per cent for investment over Rs 100,000. A few highlights of the Finance Bill.


11:14 PM

No bills needed: Budget 2018 brings back standard deduction after 13 yrs
 
Giving in to the popular demand, Finance minister Arun Jaitley reintroduced standard deduction for salaried individuals after a gap of 13 years in the budget for 2018-19. In his speech, Jaitley proposed to offer a standard deduction of Rs 40,000 to salaried individuals.


11:13 PM

Budget 2018: Loan disbursement target under MUDRA set at Rs 3 trn for FY19
 
Finance Minister Arun Jaitley on Thursday enhanced the lending target under the MUDRA Yojana, which funds the self-employed, to Rs 3 trillion (Rs 3 lakh crore) for the 2018-19 fiscal.


11:12 PM

Budget 2018 tax sops to senior citizens a big relief: Taxshe's Vandana Suri
 
Tax exemption for medical insurance for senior citizens has been raised to Rs 50,000 per annum, and the extra cover for critical illnesses is a big relief.


11:09 PM

Budget 2018: Arun Jaitley raises rates to boost Make in India
 
The government is hoping to garner Rs 60 billion by raising import duties on about 50 items — ranging from phones and TV parts to juices and edible oil — in the Budget for 2018-19. 


11:07 PM

Budget 2018: Imprints of a govt unsure of second term with clear majority
 
Narendra Modi needs his 272. Any less, and he will be half the prime minister he has been in this term. He will not accept that. Does this budget help him turn the tide? It is difficult to see how.


11:05 PM

Budget 2018: Now, cash deals of charitable trusts come under scanner
 
With growing instances of cash transactions at charitable trusts owned by corporate entities, the government has tightened the income tax provisions on such dealings. Budget 2018-19 has proposed a slew of changes — including restricting the adjustment in income-tax (I-T) filing, more powers to tax officials under the Black Money Act, prosecuting shell companies for not filing tax returns and higher penalty on offenders.
 


11:02 PM

Budget 2018: Phones set to get expensive as govt hikes customs duty to 20%
 
In a bid to further help domestic smartphone manufacturers, Finance Minister Arun Jaitley on Thursday announced a hike in customs duty on mobile phones to 20 per cent from 15 per cent.


11:00 PM

Pre-election Budget: Sops for farm sector, seniors, health cover for poor
 
Finance Minister Arun Jaitley presented the Union Budget for 2018-19 on Thursday while dealing with multiple pressures. The current fiscal year, 2017-18, was a year of severe disruptions, including especially the introduction of the goods and services tax or GST, and Jaitley pointed out that he had lost at least a month of indirect tax revenue as a consequence. 


10:55 PM

Budget 2018's focus on pump-priming the economy should calm investor nerves
 
The key focus area in this budget has been ‘Make in India’. There is significant support for to this initiative by way of increase in customs duties on various products ranging from electronics to tyres to auto parts, thus increasing protection or incentivising domestic manufacturing units.


10:54 PM

Budget 2018: 29% cut in Cabinet ministers' travelling, other allowances
 
About Rs 2.95 billion has been earmarked for expenditure on salaries and travel by Cabinet ministers, ministers of state and ex-prime ministers for the 2018-19 financial year, which is a reduction of 29 per cent from over Rs 4 billion allocated for the ongoing financial year.


10:51 PM

Budget 2018: Govt's subsidy burden to go up by 10% to Rs 2.93 trillion
 
The central government’s subsidy burden is expected to rise by about 10 per cent to Rs 2.93 trillion in 2018-19, primarily due to a 21 per cent increase in food subsidy. Fertiliser subsidy is expected to rise by eight per cent and petroleum subsidy only marginally. Interest subsidy is to go down by 11 per cent to Rs 209.2 billion.


10:47 PM

10-yr bonds fall as Budget 2018 sets larger deficit target of 3.3% for FY19
 
Finance Minister Arun Jaitley set the government's fiscal deficit at 3.3 per cent of gross domestic product for the 2018/19 financial year, higher than market expectations of 3.2 per cent.


10:44 PM

Budget 2018: Why take a train when you can fly on an airplane
 
Jaitley's emphasis on people 'wearing hawaii chappals to fly' seems to be backed by a concrete plan of action. The 56 unserved airports will be connected this year.


10:42 PM

Digitalisation to new colleges: Key benefits to education sector in Budget
 
Finance Minister Arun Jaitley has announced a number of schemes and measures that are expected to benefit the education industry and also improve infrastructure in the sector.


10:39 PM

Budget 2018: Import duties upped 5 to 10%; consumers to feel the pinch
 
Soon prices of a number of commonly used consumer goods will rise sharply with the government raising customs duty five to 10 per cent on mobile phones, television sets, imported perfumes, shoes, watches, toys, video game consoles and edible oil. The move, intended to encourage local manufacturing, is the second after a similar increase in December 2017.


10:34 PM

Budget 2018: FM announces lower PF contribution of 8% for women employees
 
In a bid to boost women’s participation in formal sector jobs, Finance Minister Arun Jaitley announced a lower rate of contribution towards schemes under the Employees’ Provident Fund Organisation (EPFO) scheme for women workers.


10:32 PM

Budget 2018: Govt hikes defence budget by 7.81% to Rs 2.95 trillion
 
An outlay of  Rs 2.95 trillion was set aside for the defence budget for the next fiscal which is an increase of 7.81 per cent over last year's Rs 2.74 trillion.
The outlay for defence budget amounted to 12.10 per cent of the total budget of Rs 24.42 trillion for 2018-19.


10:30 PM

Budget 2018: From roads to air travel, govt focuses on urbanisation
 
Aspiring for urbanisation and enhanced public investment in social infrastructure, Finance Minister Arun Jaitley made a slew of announcements for road & air connectivity and improved financing measures for the same. The Union Budget allowed National Highway Authority of India (NHAI)eate Special Purpose Vehicles (SPVs) to monetise its road assets. At the same time, budgetary provision to regional air connectivity scheme was increased by five times.


10:29 PM

Budget 2018: Rs 44.6 bn allocated for buying two aircraft for VVIP ops
 
Civil aviation ministry will receive an increased budgetary allocation of Rs 66.02 billion in the next financial year, with a significant chunk kept aside for the purchase of "two new aircraft" to be used for VVIP flights. The allocation is nearly three times higher than the amount of Rs 27.10 billion allocated to the ministry for this fiscal.


10:26 PM

Budget 2018: Why salaried women should cheer and others need to worry
 
Finance Minister Arun Jaitley while presenting the Budget speech for the financial year 2018-2019, once again reinforced Prime Minister Narendra Modi’s vision for women empowerment. Not only did he offer free LPG connections to 80 million women below the poverty line, but also lowered women’s contribution for Employees Provident Fund (EPF) to eight per cent from 12 per cent earlier.


10:24 PM

With focus on rural sector, Budget 2018 boosts Modi's re-election chances
 
Eyeing an election next year, the Indian government announced massive spending for rural areas and projected economic growth above 8 percent in an annual budget on Thursday that won broad approval from economists, though bond and share markets fell. Arun Jaitley allocated 14.34 trillion rupees ($225.50 billion)for rural infrastucture spending and extra support for farmers.


10:21 PM

Budget 2018: Jaitley's Rs 500,000 health scheme for 500 mn ahead of polls
 
In a bid to woo the poor and vulnerable sections of the society ahead of the next general elections, Union Finance Minister Arun Jaitley announced a new flagship National Health Protection Scheme in Budget 2018 to provide health insurance cover of Rs 500,000 per family per year to 100 million families.


10:19 PM

Budget draws 'safety first' strategy for railways with largest ever capex
 
Terming that the government’s primary focus on railways is safety and capacity creation, Finance Minister Arun Jaitley today announced the highest ever capital expenditure plan in the history of railways is seeing an increase of 13 per cent to Rs 1.485 trillion in 2018-19, as compared to Rs 1.31 trillion during the financial year 2017-18.


10:18 PM

Tech to the aid: Jaitley takes the e-way to growth in Budget 2018
 
Artificial intelligence (AI), machine learning (ML), blockchain technology, and Internet of Things (IoT) - jargons that have hardly found mention in previous Budgets, managed to make their way into Finance Minister Arun Jaitley’s Budget speech this year, reinforcing the government’s resolution to push everything digital.


10:15 PM

Budget 2018: India plans to expand airport capacity 5-fold as traffic rises
 
The proposal is part of an infrastructure boost announced by Finance Minister Arun Jaitley on Thursday in the federal budget for the year starting April 1. The government will raise spending on public projects by 20 per cent for the year to 6 trillion rupees ($94 billion)


10:11 PM

Budget 2018: 15% import duty will make vehicles assembled in India costlier
 
Imported trucks and buses along with cars and motorcycles assembled in India with components fully shipped from overseas will become costlier with the government today hiking the custom duty. Finance Minister increased custom duty on CKD (completely knocked down) imports of motor vehicles, motor cars, motor cycles from 10 per cent to 15 per cent.


10:09 PM

Budget 2018: Customs duty on diamonds doubled, jewellery exports to be hit
 
In a move that will effectively quash the country's aim of becoming the world’s largest trading hub, Finance Minister Arun Jaitley on Thursday doubled import the duty on cut and polished diamonds, coloured gemstones and lab-grown diamonds including half-cut and broken pieces. The proposed duty rate is now 5 per cent, up from 2.5 per cent earlier.


10:07 PM

Digitalisation to new colleges: Key benefits to education sector in Budget
 
Finance Minister Arun Jaitley has announced a number of schemes and measures that are expected to benefit the education industry and also improve infrastructure in the sector. Here are some key highlights for the education sector 


10:04 PM

Budget 2018: PM fellowship for 1000 engineering grads for Ph.D at IIT, IISc
 
The government on Thursday announced a Prime Minister Fellowship scheme under which 1,000 B.Techs will be provided opportunity to pursue Ph.Ds in IITs and IISc.


10:03 PM

Budget 2018: Your rail journey to become easier; Rs 5.97 trillion for infrastructure
 
Terming infrastructure as growth driver of the economy, Finance Minister Arun Jaitley announced an allocation of Rs 5.97 lakh crore for 2018-19 for infra spending, up by over Rs 1 lakh crore from the ongoing fiscal in Union Budget 2018


10:00 PM

Budget 2018 makes life more expensive. Full list of what's costlier
 
Cellphones, cars and motorcycles, fruit juices, perfumes and footwear are among the several items that will become costlier after Finance Minister Arun Jaitley on Thursday hiked customs duties on them in Union Budget 2018-19


09:59 PM

Budget 2018: Here's why you may want to quit your job & turn entrepreneur
 
FM set a target of providing credit of Rs 3 trillion (Rs 3 lakh crore) to anyone who wants to start a medium, small and micro enterprise (MSME) in the coming year. In addition, he slashed the tax rate on smaller companies have a turnover of less than Rs 2.5 billion (Rs 250 crore) to 25 per cent from 29 per cent. 


09:57 PM

Budget 2018 and investments: What the 10% tax means for equity mutual funds
 
The budgetary support of Rs. 5.97 trillion for infrastructure in FY19 will be a big positive for the sector and supplementary industries such as cement. The focus of the government will remain on effective and timely execution of existing projects


09:55 PM

Budget 2018: What Standard deduction and tax on dividend mean for you
 
Budget 2018 had mixed tidings for salaried employees and investors. While the finance minister introduced a standard deduction for all salaried employees, at the same time he raised the cess levied on income tax. 


09:53 PM

Jaitley's Budget 2018 has betrayed Narendra Modi govt's stress: Here's how
 
The tail wind Jaitley says is demonetisation — it increased formalisation in the economy. Jaitley claimed he had got Rs 960 billion more as direct tax from it. 


09:49 PM

Budget 2018: Rural push to boost consumption: Chef Sanjeev Kapoor
 
The National Health Protection Scheme, which will benefit five crore poor families with a cover of Rs 500,000 for hospitalisation for each person, and establishing 24 new medical colleges are the best initiatives of this Budget. 


09:47 PM

Budget 2018: 'Modicare' a good first step, but where will money come from?
 
The flagship health insurance programme launched by the Modi government in Budget 2018 is a good first step towards providing health coverage to all. A sum of Rs 10 billion (Rs 1,000 crore) was allocated to RSBY in Budget 2017 and the revised figures for 2017-18 stood at Rs 4.70 billion (Rs 470.52 crore). However, where is the money? 


09:43 PM

Budget in 2 minutes: Rural push, LTCG tax, sops to seniors, and more
 
Senior citizens will get substantial relief — exemption of interest income on deposits with banks and post offices will be increased from Rs 10,000 to Rs 50,000 and TDS need not be deducted on such income under section 194A


09:41 PM

Budget 2018's focus on pump-priming the economy should calm investor nerves
 
The Union Budget has focussed on pump-priming the economy at the cost of some fiscal discipline in the short term. While the fiscal deficit target of 3.3% of GDP for FY19 is higher than expectations, the budget also talks of limiting it to 3% by FY21. The budget also talked about limiting Central Government Debt to GDP to 40% over the medium term. 


09:39 PM

Did Facebook, Budget 2018 just drive Bitcoin to a two-month low?
 
Bitcoin, the world's largest cryptocurrency, declined 9 per cent on Thursday to its lowest level since late November.


09:36 PM

Budget 2018 to sting buyers of iPhones, Audi cars, Fitibit, luxury brands
 
India outlined a farmer-friendly budget on Thursday, but for its burgeoning middle class, who aspire to own luxury goods ranging from Ray-Bans to iPhones, and Zippos to Fitbits - imported goods are set to get a whole lot costlier.


09:34 PM

Thankfully, only one more year to go: Rahul Gandhi on Budget 2018
 
"4 years gone; still promising FARMERS a fair price. 4 years gone; FANCY SCHEMES, with NO matching budgets. 4 years gone; no JOBS for our YOUTH. Thankfully, only 1 more year to go. #Budget2018," Rahul Gandhi said on Twitter.


09:31 PM

Higher tax exemption & more: Senior citizens will be happy with Budget 2018
 
Senior citizens who are highly dependent on interest income from their fixed deposits and other debt instruments would be relieved with the increase in the tax-free limit on interest income from Rs 10,000 to Rs 50,000. In addition, the tax exemption on health insurance premiums, which stood at Rs 30,000 now, has been increased to Rs 50,000. Also, for treatment of critical illnesses, the limit has been increased to Rs 100,000. 


09:30 PM

Budget 2018 is unclear on startup concerns, disappoints on angel tax
 
The Finance Minister’s promise to rationalise Overseas Direct Investment (ODI) will be welcomed by both Startups and Investors. If the regime is more streamlined and liberalised, this would be a great boon to the Stay in India initiative as we may see the rise of Startups with an Indian Parent and Foreign Subsidiary, instead of the current norm of a Foreign Parent and Indian Subsidiaries.


09:28 PM

Budget 2018: Modi govt aims to generate 3 billion man-days of employment
 
To generate mass employment, the government aims to give jobs to 464,000 people, generate 3.2 billion man-days of employment and provide livelihood to 17 million beneficiaries. All of this in 12 of its key schemes like the Swacch Bharat Abhiyan, Mahatma Gandhi Rural Employment Generation (MNREGA) scheme, Pradhaan Mantri Awaas Yojana among others.


09:24 PM

Budget 2018: Rural housing scheme to boost jobs, says musician Abhay Sopori
 
Rural housing scheme will benefit the rural areas, and thereby, generate more employment. Also, family health insurance scheme is a good step and major illnesses can be covered for an expense of up to Rs 5,00,000, which is a reasonable sum compared to the earlier amount of Rs 1,50,000


09:21 PM

Budget 2018: The how, what, when, where and why of Arun Jaitley's LTCG tax

Long-term capital gains (LTCG) tax on equity investments has been reintroduced after 14 years. The Union Budget proposes to levy LTCG tax of 10 per cent starting April 1.


08:59 PM

Industry hails govt's infrastructure push in Budget
 
Hailing the Union Budget for continued thrust on the infrastructure sector, industry players today said an allocation of about Rs 6 lakh crore for 2018-19 will create employment opportunities and aid growth.
 
"We welcome the Union Budget 2018-19 which gives special impetus to the infrastructure sector," Mesco Steel (MISL) CMD Rita Singh said.


08:57 PM

Budget is pragmatic, says economist Panagariya
 
Describing the budget as "pragmatic", noted economist Arvind Panagariya said the coverage of 100 million families for expenses up to Rs 500,000 under government-funded health care is the most significant programme announced by Union Finance Minister Arun Jaitley.


08:52 PM

It's a 'Nation-building budget': Baba Ramdev
 
Yoga Guru Baba Ramdev praised the budget presented by Finance Minister Arun Jaitley, however, he said that it would have been better had people been provided relief in Income Tax up to a limit of Rs 5 lakh.
 
"It would have been better had people been provided relief in Income Tax up to a limit of Rs 5 Lakh.


08:50 PM

Budget to sting buyers of Apple's iPhones, Audi cars, other luxury brands
 
India outlined a farmer-friendly budget, but for its burgeoning middle class, who aspire to own luxury goods ranging from Ray-Bans to iPhones, and Zippos to Fitbits - imported goods are set to get a whole lot costlier.


08:48 PM

Unprecedented Budget, makes India and BJP proud: L K Advani
 
The budget combined "ambition and empathy" of almost an unprecedented order, BJP veteran L K Advani said in a statement, and added that it made him happy to see his party pursuing "economic growth with a human face".


08:46 PM

Budget anti-people, a big bluff: Mamata Banerjee
 
Describing the Union Budget presented by Finance Minister Arun Jaitley as a "big bluff" and "anti-people", West Bengal Chief Minister Mamata Banerjee said she found it "very disappointing".
 
"The BJP-led government in Delhi is unfit to govern. It is a budget which is neither here, nor there," the Trinamool Congress supremo said.


08:43 PM

PAN mandatory for entities in transaction over Rs 2.5 lakh
 
The 10-digit Permanent Account Number (PAN) would be used as Unique Entity Number for non-individuals, said the memorandum to the Finance Bill 2018.


08:42 PM

Thankfully, only one more year to go: Rahul Gandhi on Budget 2018
 
Congress president Rahul Gandhi hit out at the government over the Union Budget 2018-19, saying only promises were made in the past four years and "thankfully" just one year of the Modi dispensation is left.
 
Taking to Twitter, Gandhi said four years of the NDA regime are over but it continues to only promise farmers about a fair price to their produce.


08:41 PM

Budget 2018: Modi govt aims to generate 3 billion man-days of employment
 
It is estimated that 13 million people enter the workforce every year but India is able to provide jobs to only a fraction of them. In the last full-fledged budget of the Prime Minister Narendra Modi government seems to have set lofty targets to change these perceptions about India’s laggard employment prospects.


08:35 PM

29% cut in Cabinet ministers' travelling, other allowances
 
About Rs 2.95 billion has been earmarked for expenditure on salaries and travel by Cabinet ministers, ministers of state and ex-prime ministers for the 2018-19 financial year, which is a reduction of 29 per cent from over Rs 4 billion allocated for the ongoing financial year.


08:33 PM

Budget 2018: MP's salaries are doubled, no change in Income Tax slab lefts middle-class disappointed
 
Take a look:
 
1. President: 1.50 Lakh, Current Amount. While the proposed amount is 5 Lakh. 
 
2. Vice President: 1.25 Lakh, Current Amount. While the proposed amount is 4 Lakh
 
3. Governor: 1.10 Lakh Current and proposed amount is 3.5 Lakh 


08:24 PM

Pre-election Budget: Sops for farm sector, seniors, health cover for poor
 
Finance Minister Arun Jaitley presented Budget 2018 while dealing with multiple pressures. The current fiscal year, 2017-18, was a year of severe disruptions, including especially the introduction of GST, and Jaitley pointed out that he had lost at least a month of indirect tax revenue as a consequence.


08:20 PM

Budget 2018: Of too many 'poors', pakodas and yellow lawmakers
 
It was just the beginning of Finance Minister Arun Jaitley’s Budget (2018-19) speech and he had already used the word “poor” half a dozen times. Slightly irritated, the former president of the Congress, Sonia Gandhi, twisted in her front-row seat to alert her son and current Congress president Rahul Gandhi (sitting in the row behind) to this fact.


08:18 PM

Merged entity to pay 20% DDT with retrospective effect
 
The Budget has proposed to tax all mergers and amalgamations in which a company with higher accumulated profits merged with a company with lower profits or made losses and reduced capital to avoid paying dividend distribution tax.
 
This step will impact all mergers that were announced in the last few years and reduction of capital took place in the last one year, tax experts said.


08:13 PM

Jaitley's Budget 2018 has betrayed Narendra Modi govt's stress: Here's how
 
Budget 2018 has not hidden the stress the Narendra Modi government is facing. On the slip in fiscal deficit for 2017-18 to 3.5 per cent of gross domestic product (GDP) and the anticipated 3.3 per cent fiscal deficit for 2018-19, Finance Minister Arun Jaitley said “due to one tail wind and one head wind”.


08:06 PM

Budget 2018: Centre ups tax ante with LTCG as amid boom in equity markets
 
The Union Budget 2018 proposed to levy 10 per cent LTCG tax on profits of more than Rs 100,000 on shares and other equity-oriented investments. Until now, such transactions were entirely exempt from taxes, while a flat 15 per cent rate was applicable on short-term capital gains (profits made on investments held for less than a year).


07:55 PM

Did Facebook, Budget 2018 just drive Bitcoin to a two-month low?
 
Jaitley in his budget speech said today, "The Government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system."


07:49 PM

Kejriwal slams 'step-motherly treatment' towards Delhi
 
"I had expected some financial assistance to important infrastructure projects for the national capital. Am disappointed that Centre continues its step-motherly treatment to Delhi," the Aam Aadmi Party leader said in a tweet.


07:46 PM

Budget 2018 decoded: Lack of indexation on LTCG to hurt long-term investors
 
The stock market was braced for a populist Budget, which imposed a tax on Long-Term Capital Gains (LTCG) and made large allocations to the rural economy. At the same time, investors were hoping for a cut in corporate tax rates. The actual document was thus, broadly in line with the expectations.


07:45 PM

With focus on rural sector, Budget 2018 boosts Modi's re-election chances
 
"This budget is farmer friendly, common citizen friendly, business environment-friendly and development friendly. It will add to ease of living," Prime Minister Narendra Modi said after the budget announcement.


07:43 PM

Modi's election budget, high on rural spending, may push RBI to raise rates
 
With less than a week to go before the Reserve Bank of India meets to decide on policy, Finance Minister Arun Jaitley unveiled a budget that opens the taps for impoverished farmers, guaranteeing higher minimum crop prices and more spending on infrastructure projects in India’s vast rural hinterland.


07:41 PM

Experts hail govt's move to support 5G test bed at IIT Madras

In a thrust to roll out 5G in 2020 in line with the global markets, Finance Minister Arun Jaitley said on Thursday that the Department of Telecom (DoT) will support a 5G-test bed at IIT Chennai.
 
The 5G technology is being standardised globally to enable Internet of Things (IoT) applications.


07:39 PM

Budget 2018: Civil Aviation budget up 144%; coal allocation cut by half
 
India’s budget in 2018-19 was 6 per cent more than last year. The biggest beneficiary of Jaitley’s largesse this year was the ministry of civil aviation under Ashok Gajapathy. Allocations to the civil aviation ministry was almost Rs 66 billion. This is a 144 per cent increase in the allocation made to the ministry last year.


07:37 PM

Business Standard's A K Bhattacharya says, "Budget 2018 - The great balancing act by Jaitley on social and fiscal fronts"
 
While presenting a Budget with a significant social impact, the FM did not allow any major slippage in the fiscal situation.


07:33 PM

MP CM Shivraj Singh Chouhan on National Health Protection Scheme
 
A revolutionary measure taken in health sector. Almost 50 crore people, 40% of the population to be benefited by the scheme.


07:29 PM

Budget 2018's focus on pump-priming the economy should calm investor nerves
 
The Union Budget has focussed on pump-priming the economy at the cost of some fiscal discipline in the short term. However, albeit at a slower pace than earlier projected, it commits to glide path of the lower fiscal deficit in the medium term. 


07:28 PM

Cryptocurrency is not legal tender. However, if a person earns profit even through illegal means, it is taxable: FM Arun Jaitley


07:26 PM

Kalyan Basu, MD & CEO, Invoicemart 
The union budget of 2018 – 19 is focused on job creation, with heavy expenditure on supporting agriculture and allied activities to upgradation of infrastructure across airports, rail and road transport.
 
We are pleased with the announcements made to bolster the MSMEs.


07:24 PM

Union Budget proposals to drive prospects of Agri-Input companies
 
Arun Jaitley proposed to increase the MSP for Kharif crop to 1.5 times producer’s costs and various other measures are likely to propel prospects of Agri-input companies (seeds, Fertilizers, agrochemicals players) as other proposed measure too will drive benefits.


07:22 PM

Budget 2018 and investments: What the 10% tax means for equity mutual funds
 
Jaitley has delivered a balanced budget catering to people across the social spectrum without unduly impacting fiscal math. I believe this is a budget that focuses on developmental populism. The budget covered all key themes like Rural India, Healthcare, Sops for Senior Citizens, Women and New employment.


07:20 PM

10 crore families to benefit from health scheme: FM Jaitley


07:18 PM

Short term gains tax retained at 15%: FM Arun Jaitley


07:17 PM

Arun Jaitley with Business Standard's T N Ninan at DDNews
 
"Aim to help weaker sections of the society"


07:09 PM

Budget 2018: Home Ministry gets Rs 0.92 trillion allocation with 10.5% hike
 
The Home Ministry's budgetary provisions have been pegged at over Rs 0.92 trillion for the next financial year, a hike of 10.5 per cent over 2017-18, with a special emphasis on improving infrastructure of the police forces.


07:06 PM

Eyeing 2019 polls, Jaitley extends sops to poor, squeezes middle class
 
With an eye on the next Lok Sabha elections, Finance Minister Arun Jaitley in his 2018-19 budget on Thursday proposed a major health insurance scheme for the poor, a higher minimum support price and a step up of Rs 1 lakh crore as institutional credit for farmers along with a spend of nearly Rs 6 lakh crore on infrastructure development.


07:04 PM

Cheers for 'Bharat'
 
A bird’s view shows the Finance Minister has taken a bit from the resourceful and given it to the ones who need it, mainly rural India and the economically weaker section. And rightly so, given their distress and the need to raise their quality of life.


06:57 PM

Know 10 key highlights of Budget 2018
 
The much-awaited union budget 2018 is finally here and needless to say, the government has tried to go a step further and managed to bring a smile on the faces of people who were expecting a lot from the Modi government. And guess what? this time rising air pollution has also caught Jaitely's attention as he has announced a "special scheme" to tackle the problem.


06:52 PM


06:52 PM

Baba Ramdev on Budget 2018
 
It would have been better had people been provided relief in Income Tax up to a limit of Rs 5 Lakh. I'm sure a decision will be taken in this regard soon. This was a nation building budget.


06:49 PM

Fiscal footsie: Jaitley's budget trades urban honeymoon for rural marriage

If R.K. Laxman had been around, he might have drawn a cartoon of  Prime Minister Narendra Modi and Finance Minister Arun Jaitley inside a helicopter spraying cash across villages,  with the iconic common man in his checked, tattered jacket, holding a newspaper that says "Cess for education, health increased."


06:47 PM

Budget 2018: Mumbai's corporate lobby questions Jaitley's fiscal math
 
Captains of the industry in the financial capital aren't particularly enthused by the Budget proposals and also raised concerns over the fiscal math.
 
While they welcomed the move to push the small businesses, they are concerned over the fiscal math and resource mobilisation for populist measures and also for the exclusion of certain specific demands from them.


06:47 PM

Mayawati attacks BJP over Budget 2018, calls it anti-poor, pro-capitalists
 
BSP supremo Mayawati has dubbed the Union Budget presented in Parliament today as anti-poor and pro-capitalists.
 
In a statement issued here, she said like the previous budgets of the Narendra Modi government, this one was also "anti-poor and pro-capitalists".


06:45 PM

Amit Shah hails Budget 2018, says schemes give new wings to aspirations of poor
 
BJP chief Amit Shah today said the Union Budget gives new wings to aspirations of the poor as he cited measures aimed at giving a boost to farmers, infrastructure, rural sector and small and medium enterprises.


06:38 PM

Budget 2018: Of each rupee in govt kitty, 19 paise are from borrowing
 
For every rupee in the government coffer, 19 paise will come from market borrowing and other liabilities in 2018-19, even as it will spent 18 paise towards interest payment. According to the Budget 2018-19 presented in Parliament on Thursday by Finance Minister Arun Jaitley, 70 paise will come from direct and indirect taxes for every rupee earned.


06:33 PM

Budget 2018: Rs 44.6 bn allocated for buying two aircraft for VVIP ops
 
Civil aviation ministry will receive an increased budgetary allocation of Rs 66.02 billion in the next financial year, with a significant chunk kept aside for the purchase of "two new aircraft" to be used for VVIP flights.


06:31 PM

Union Budget 2018: Well crafted, but fiscal stress shows
 
The Finance Minister, Arun Jaitley, has presented a Budget that looks good from all sides, but one that deserves scrutiny to better understand the fiscal maths, and the implications for economic growth. Attention must be paid in particular to the response of the bond market to the government’s borrowing programme.


06:30 PM

The good thing about these proposals is that once implemented, they can lead to job creation and a pick-up in the economy.


06:30 PM

With Budget 2018 over, markets will now consolidate and remain range-bound
 
We all expected this to be an ‘election budget’. The general focus of Budget 2018 has been on the rural sector and not much concessions for the middle class or the corporate sectors. The proposals are mostly in line with expectations.


06:26 PM

Kejriwal says
 
There is nothing for the middle class and traders in this budget. Completely ignored.


06:25 PM

Delhi Chief Minister Arvind Kejriwal 
 
I had expected some financial assistance to important infrastructure projects for the national capital. Am disappointed that Centre continues its step-motherly treatment to Delhi.


06:24 PM

Budget 2018-19: Balancing populism with economics 

The Budget is finally out and to put it simply, Mr Jaitley did not disappoint. In fact, a majority of it was along expected lines. Most importantly, as promised, the governmentmanaged to do a commendable job of balancing economic populism with prudent economics. However, as is always the case, the good did come with a tinge of bad.


06:18 PM

Here's why India Inc hails Budget 2018
 
India Inc today said the 'Bharat' oriented Budget with a thrust on improving the rural economy will create jobs, encourage entrepreneurship and sets the tone for future growth. Sharing views on the Budget 2018-19, corporate honchos cheered measures like the Rs 500,000 cover per family per year to 100 million families for secondary and tertiary care hospitalisation, saying these would help the broader objective of universal healthcare.


06:13 PM

There was nothing new at all. It's not a people friendly budget. FM said nothing about unemployment. Medium & Small scale sectors are still suffering. It's a shame that has introduced only 1% education cess: West Bengal CM Mamata Banerjee


06:11 PM

Budget 2018 Gold policy: Spot exchange on cards, GMS to be revamped
 
After over two years of discussion, the government has finally recognised the need for a comprehensive gold policy.


06:00 PM

Union Budget 2018 shows Modi govt could be preparing for early elections
 
After the Gujarat verdict in December, the results of the Lok Sabha by-polls to the seats of Ajmer and Alwar on Thursday underlined how the next Lok Sabha polls were no foregone conclusion in favour of the Modi government, and it needed to take steps to reduce farm distress and create jobs.


05:54 PM

Attention salaried employees! What Standard deduction and tax on dividend mean for you
 
A standard deduction of Rs 40,000 has been allowed to salaried employees in the budget presented by Finance Minister Arun Jaitley on Thursday. Earlier, there was a medical reimbursement of Rs 15,000 and a transport allowance of  Rs 19,200 (Rs 1,600 per month). Together these amounted to Rs 34,200. In lieu of these, salaried employees can now avail a new standard deduction of Rs 40,000. "It will only reduce paperwork for salaried employees. They won't have to produce bills. The net gain in terms of higher deduction is only Rs 5,800," says Deepesh Raghaw, Deepesh Raghaw, founder, PersonalFinancePlan.in, a Sebi-registered investment advisor (RIA). 


05:51 PM

Congress President Rahul Gandhi mocks the Union Budget 2018!
 
4 years have gone by, PM still still promising farmers a fair price


05:46 PM

Budget 2018: Here's the list of winners and losers
 
With national polls looming next year -- and possibly as early as late 2018 -- Finance Minister Arun Jaitley has rolled out a budget designed to help distressed farmers and rural areas while boosting growth, jobs and private investment.
 
In this budget, India’s farmers and villagers, as well as companies with exposure to agriculture, emerge as the biggest winners. Bond investors might just be the biggest losers.


05:43 PM

Twitter witnesses over 240,000 Budget 2018-related tweets in January

In the run up to the Union Budget, Twitter witnessed a surge in budget-related conversations, garnering over 240,000 tweets in January which is twice the volume than in December last year, the company said on Thursday.
 
Twitter also announced that a series of live activations for the #Budget2018 with the Ministry of Finance (@FinMinIndia) would stream highlights on the platform.


05:37 PM

Incompetency by Congress to control inflation led to higher increase in MSP, says Railway Minister Piyush Goyal


05:37 PM

Budget 2018: Govt earmarks Rs 100-bn for telecom infrastructure
 
In order to provide broadband connectivity to 50 million rural citizens, the government plans to set up 500,000 wi-fi hotspots. The government has earmarked Rs 100 billion in 2018-19 for creation and augmentation of telecom infrastructure in the country. Presenting the Union Budget 2018-19 in the Lok Sabha, Finance Minister Arun Jaitley said task of connecting 100,000 gram panchayats through high-speed optical fiber network has been completed under phase-I of the Bharatnet project.


05:35 PM

Budget 2018: Your rail journey to become easier; Rs 5.97 trillion for infra
 
Terming infrastructure as growth driver of the economy, Finance Minister Arun Jaitley announced an allocation of Rs 5.97 lakh crore for 2018-19 for infra spending, up by over Rs 1 lakh crore from the ongoing fiscal in Union Budget 2018.
 
Jaitley said the priority accorded to the sector was evident from the fact that PM Modi is personally monitoring infrastructure project targets and achievements.


05:32 PM

Budget 2018: With long-term capital gains tax, free market ride is over
 
The main focus of Jaitley, while presenting the Budget 2018, has been on the rural sector and infrastructure development. This was expected from the government in its last full Budget ahead of the general elections scheduled in 2019. 
 


05:30 PM

Budget 2018: Indians to make a billion trips a yr? UDAN funds hiked 5 fold
 
The boost in fund allocation is likely to solve the problem of scarcity of funds faced by the programme due to the increased number of participating airlines. "Even those who wear 'hawaii chappal' can now travel by 'hawaii jahaj'," said Finance Minister Arun Jaitley in his Budget speech. In order to attract airlines to fly to remote areas, which may be commercially unviable, the government gives VGF (Viability gap funding) under the scheme, besides offering concessions in parking charges at airports.


05:28 PM



05:26 PM

Budget 2018: India Inc unhappy at 10% long-term capital gains tax levy
 
Captains of industry have been miffed by the government imposing the long term capital gains (LTCG) tax in the Union Budget. The jovial atmosphere at the Federation of Indian Chambers of Commerce and Industry (Ficci) stopped as soon as Finance Minister Arun Jaitley confirmed that the long awaited LTCG tax would indeed be levied from now. However, corporate honchos regained their composure faster than the stock market which was still losing out at the time of writing this report.


05:25 PM

Budget 2018: After all the hype, Jaitley delivers fairly balanced outcome
 
Budget 2018 came out fairly balanced, with disappointments on the income tax and LTCG tax fronts for households and markets, respectively. Further, the government's projections on growth appear to be reasonable. Overall, the Budget was nowhere near as radical as the hype around it suggested.


05:24 PM

This govt has not given anything to the poor, says Anand Sharma of Congress.


05:23 PM

Modicare to jai kisan: Health, rural focus of last budget before elections
 
Health and agriculture were the focus of the Bharatiya Janata Party (BJP) in its last full budget ahead of the 2019 general elections.
Finance Minister Arun Jaitley announced the launch of National Health Protection Scheme to insure the secondary and tertiary care expenses of 100 million poor families (500 million people) up to Rs 500,000 per family per year.


05:20 PM

Budget 2018: Govt allots Rs 7.9 bn to Delhi; 100 mn for 1984 riot victims
 
The Centre today allocated Rs 7.9 billion for Delhi in the 2018-19 Union Budget, while the share in central taxes and duties for the city remained unchanged even though the AAP government had demanded an increase.
 
The Delhi government was given Rs 4.4 billion as central assistance in the Budget presented by Finance Minister Arun Jaitley in the Lok Sabha.


05:18 PM

Budget 2018: Here's the list of winners and losers
 
With national polls looming next year -- and possibly as early as late 2018 -- Finance Minister Arun Jaitley has rolled out a budget designed to help distressed farmers and rural areas while boosting growth, jobs and private investment.
 
In this budget, India’s farmers and villagers, as well as companies with exposure to agriculture, emerge as the biggest winners. Bond investors might just be the biggest losers.


05:15 PM

Budget 2018: From roads to air travel, govt focuses on urbanisation
 
Aspiring for urbanisation and enhanced public investment in social infrastructure, Finance Minister Arun Jaitley made a slew of announcements for road & air connectivity and improved financing measures for the same. The Union Budget allowed National Highway Authority of India (NHAI)eate Special Purpose Vehicles (SPVs) to monetise its road assets. At the same time, budgetary provision to regional air connectivity scheme was increased by five times.


05:12 PM

Budget 2018: Govt breaches deficit goals, taxes investors to woo voters
 
India cut the corporate tax rate for some firms while excluding the biggest companies that contribute bulk of the collections, falling short of narrowing a gap with several other economies that have lowered the levy to attract investments.
 
The basic rate will be reduced to 25 per cent for companies with annual revenue of up to 2.5 billion rupees ($39 million) in the year starting April 1, Finance Minister Arun Jaitley said in his budget speech on Thursday. “This will leave them with higher investible surplus, which will create more jobs,” he said.


05:01 PM

Budget 2018: The grandfathering clause for LTCG was a masterstroke
 
In the run-up to Budget 2018, the market was worried about imposition of long term capital gains tax (LTCG) amid other things. However, the grandfathering provision that the finance minister introduced will make the overall impact on the market sentiment quite negligible.


05:00 PM

Budget 2018: Why salaried women should cheer and others need to worry
 
Not only did Arun Jaitley offer free LPG connections to 80 million women below the poverty line, but also lowered women’s contribution for Employees Provident Fund (EPF) to eight per cent from 12 per cent earlier


04:53 PM

Budget amalgamation of many things: Amit Shah


04:52 PM

Rs 2 excise on petrol and diesel is being reduced & this is being converted into cess, that is the only change we have made, practically there is no impact on the final price of petrol & diesel. To the consumers, there is no change: Hasmukh Adhia, Finance Secretary


04:51 PM

P Chidambaram
 
There is nothing to indicate that farmers real income will rise. Farm sector distress will continue and deepen putting in peril the lives of majority of people primarily dependent on agriculture.


04:45 PM

BJP President Amit Shah addresses a press conference


04:44 PM

Budget proposals not bold or radical, says Chidambaram, former Finance Minister


04:43 PM

Fiscal deficit numbers debatable. All deficits have crossed Budget estimates: P Chidambaram


04:42 PM

MSP increase will not help farmers: Chidambaram


04:42 PM

Congress leader & ex-Finance Minister P Chidambaram
 
Government has failed fiscal consolidation test. Budget a big let-down


04:40 PM

Markets showed knee jerk reaction to Budget 2018


04:39 PM

Capital tax gains from with effect from February 1


04:38 PM

The fact that Government has gone back to a path of fiscal consolidation in a special year like this should reassure bond markets that the commitment for consolidation is strong and robust: CEA


04:37 PM

Budget 2018 in line with govt's fiscal consolidation path: Moody's analyst
 
India's 2018/19 budget is in line with the government's fiscal consolidation path, a Moody's analyst said on Thursday, adding that it reinforced the credit ratings agency's recent rating upgrade for the country.


04:35 PM

Budget 2018: Govt to set-up unified regulator for IFSC at GIFT city
 
The government will set up a unified authority for regulating all financial services in IFSC, which is situated at GIFT City in Gujarat, Finance Minister Arun Jaitley said today. The move is expected to provide a further push to the International Financial Services Centre (IFSC) and lead to better regulation and supervision of the financial entities.


04:34 PM

The budget proposes an institutional mechanism to fix the emoluments of the elected members, thereby addressing the criticism that they fix their own salaries: FM Jaitley


04:34 PM

Niti Aayog will devise a mechanism to increase the Minimum Support Price for crops to 1.5 times of production cost, as promised in New India Budget; to be done in consultation with the states: Finance Ministry


04:32 PM

Bharatiya Mazdoor Sangh terms the Union Budget 2018 as 'disappointing', BMS to hold nationwide demonstration tomorrow


04:31 PM

Confident of limiting the fiscal deficit target for 2018-19 within 3.3%: FM Jaitley


04:30 PM

Contribution of the salaried class has been reognized for the first time: FM Arun Jaitley


04:29 PM

Step by step, in every budget, I have been putting surplus money in the hands of the middle-class taxpayer: FM Arun Jaitley


04:29 PM

Not will to share views on which way oil prices will go from hereon: Jaitley


04:27 PM

Budget 2018: Govt hikes defence budget by 7.81% to Rs 2.95 trillion
 
An outlay of  Rs 2.95 trillion (Rs 2.95 lakh crore) was today set aside for the defence budget for the next fiscal which is an increase of 7.81 per cent over last year's Rs 2.74 trillion (Rs 2.74 lakh crore).
 
Out of the total allocation, the capital outlay for the three defence services for purchase of new weapons, aircraft, warships and other military hardware has been pegged at Rs 99,947 crore.


04:26 PM

Rs 2 excise duty on petrol reduced, coverted into cess.


04:25 PM

On Budget day BJP gets triple shock in Rajasthan; loses Ajmer & Alwar LS seats
 
The Congress Party on Thursday won the Mandalgarh Assembly seat and is leading on both the Lok Sabha seats from Alwar and Ajmer.
 
Congress' Vivek Dhakad has bagged the Mandalgarh Assembly seat by 12976 votes, while the party is leading with 72101 votes in Alwar and by 45321 votes in Ajmer respectively.
 
After the overwhelming lead in the state polls, Rajasthan Pradesh Congress Committee chief Sachin Pilot said that it is the victory of the people of the state and asked Chief Minister Vasundhara Raje to step down from her post.


04:23 PM

Finance Minster Jaitley says have given tax relief to senior citizens. Social security net has to be created; this needs resources... 1% surcharge will go towards building a social security net.


04:22 PM

Finance Minister says bringing SME sector into tax relief bracket was necessary to support them.


04:21 PM

Budget 2018 proposes an institutional mechanism to fix the emoluments of the elected members, thereby addressing the criticism that they fix their own salaries: Arun Jaitley


04:19 PM

Arun Jaitley says,

* Had initially targetted a fiscal deficit of 3.2%, but series of circumstances have caused slippage.
 
* Budget accounts for only 11-month GSR revenue collections.


04:17 PM

Direct tax collections and disinvestment covered gaps created by structural reforms: Arun Jaitley


04:16 PM

Tax relief for senior citizens, increase in exemption limits: Jaitley


04:15 PM

Jaitley: 10 crore families to benefit on health front.


04:15 PM

Corporate tax exemption is being phased out: Jaitley


04:13 PM

GST revenue for 11 months factored into Budget: FM Arun Jaitley


04:12 PM

Structural reforms had their own impact: Jaitley


04:11 PM

April-December revenue receipts at Rs 10.14 lakh cr, 66.9% of FY18 estimate.


04:11 PM

This Budget blends physical prudence with the requirement and needs of the economy today, says Finance Minister


04:10 PM

Finance Minister Arun Jaitley 
 
April-December tax revenue at Rs 9 lakh cr, 73.4% of FY18 estimate Budget 2018


04:09 PM

Finance Minister Arun Jaitley is addressing a press conference


04:05 PM

Shashi Tharoor on what's good about Budget 2018
 
One good thing in Budget 2018 is the health insurance scheme to cover 500 million Indians. But the budget figures show no serious allocation for it, and the Fasal Bima Yojana has already proved a boon for insurance companies more than the insured. Will it prove another jumla?


04:02 PM

Shashi Tharoor disappointed with Budget 2018
 
Nothing for the aam aadmi, no tax for the middle class, no incentives to create jobs, no investment stimulus. Silence on disaster relief for Cyclone Ockhi & on the defence budget. No MSP for rabi farmers. No additional funds for MNREGA.


03:59 PM

Bangalore suburban rail network to come up: Piyush Goyal, Railway Minister


03:58 PM

Budget 2018 has provided employment opportunity for all, says Piyush Goyal


03:57 PM

Speed, skill and scale also on display, says Piyush Goyal


03:56 PM

Mumbai rail network to get a boost: Piyush Goyal


03:54 PM

Piyush Goyal says, it's a game changer Budget


03:53 PM

600 Railway stations to be redeveloped: Piyush Goyal


03:52 PM

Piyush Goyal speaks on Railway Budget



03:52 PM

Niraj Jain, CEO & Principal Officer of Lambach Insurance Brokers on Budget 2018
 
"The launching of the flagship healthcare scheme to cover 10 crore poor families is a great initiative. However, a lot will depend on its execution and implementation. 
The government is being clear on basic health insurance for Indian families. This is a good move and will certainly go a long way in boosting the Indian Insurance Sector."
 
"The merger of Oriental Insurance, National Insurance & United India Insurance is another good move which will not only stabilize the three public sector units but also the Insurance sector on a whole. The Insurance sector has been bleeding largely because of improper under writing. This initiative will also increase the risk-taking appetite of the merged entity which is pretty less on an individual level"


03:49 PM

Budget has the capacity to create jobs, says FM Arun Jaitley


03:48 PM


03:47 PM

Keeping focus on 'ease of living' the budget has kept people of all segments in mind: Jitendra Singh, MoS, PMO


03:46 PM

Reform, perform and transform is our mantra: Piyush Goyal


03:44 PM

FM terms note ban as celebratory reward to honest taxpayers
 
Finance Minister Arun Jaitley today likened the demonetisation drive of 2016 to a celebration of honesty, saying honest taxpayers received the move to tame black money as 'Imandari Ka Utsav'.


03:42 PM

Ashish Aggarwal, CMD, ThinkSkills Consulting on Budget 2018
 
Union Budget 2018-19 has given higher allocation of funds and resources towards improving the quality of education. Setting up additional 306 Kaushal Kendras is a decision in the right direction and will boost skill development at individual state level. It will also enable easier access to world-class skill training for Indian youth.


03:40 PM

It’s completely neo-liberal budget: Tikender Singh, Senior Leader, CPI(M) & Former Mayor Shimla to Times Now.


03:39 PM

Exemptions for big companies would gradually go, can’t suddenly reduce exemptions: Finance Minister Arun Jaitley


03:38 PM

Nifty ends just below flatline post Budget 2018


03:38 PM

Sensex closes just above 35,900. 


03:37 PM

Historic baby steps towards universal health coverage: India’s inches towards fulfilling millennium development goals: Dr Rajeev Boudhakar, CEO, Bhatia Hospital

Overall, an “adrenaline boost” with a “steroid dose” for the healthcare sector.


03:33 PM


03:33 PM


03:32 PM

CPI-M leader Sitaram Yechury said Finance Minister Arun Jaitley's 2018-19 budget was 'unconnected to ground realities.


03:31 PM

The government has also increased the customs duty on parts of LCD/LED/OLED TVs to 15 per cent to boost domestic manufacturing.


03:30 PM

The PM doesn't aim for short-term populism, says Finance Minister  


03:30 PM

Hasmukh Adhia said when LTCG was removed in 2004, circumstances were different. 
 
He said, "gains from equity will remain attractive despite LTCG tax; market will receive LTCG very well".


03:28 PM

Congress is forgetting that in the year before 2009 election the Congress party had allowed fiscal deficit situation to deteriorate from 2.9% to over 5% within same year. If that is fiscal prudence then we will have to revisit the definition of fiscal prudence in India: Piyush Goyal


03:28 PM

In a Populous, agrarian country, a Populist, Pre-election budget can be Pro-growth! I’m biased since it ignites growth in our key rural markets. So instead, I’ll laud the budget for health insurance for 10 crore people. That’s a REAL step towards becoming a developed society: Anand Mahindra


03:23 PM

The PM doesn't aim for short-term populism, says Finance Minister 


03:23 PM

I don’t agree with people saying that this Budget is aimed at the upcoming election: Finance Minister


03:23 PM

'Package' for senior citizens presented in the Budget, says Finance Minister


03:22 PM

I expect GST to save us now: FM Arun Jaitley


03:18 PM

SECTOR WISE ALLOCATION
 
SC & ST fund: Rs 105,000 crore
 
Railways: Rs 1.48 lakh crore
 
Mumbai Transport: Rs 40,000 crore
 
Infrastructure Rs 5.97 lakh crore 


03:17 PM

India is only country in the world where entry point for Income Tax is 5%. It's the lowest slab in the world: Finance Minister


03:17 PM

Lot of domestic debt built up in markets, says Finance Minister


03:14 PM

SECTOR WISE ALLOCATION
 
Fisheries & Aqua culture sector: Rs 10,000 cr 
Farm sector: Rs 11,000 cr loan credit
National Bamboo Scheme: Rs 1,290 crore


03:14 PM

Ideally, India would be very comfortable with anything up to about $60 for oil, says Finance Minister


03:12 PM

Post-GST, I have seen second trend. There is a positive impact both on personal income tax as also in the corporate tax, says Finance Minister


03:11 PM

In a country where tax evasion is high, it is a big task to bring people into the tax system. But we have tried to do so by various means: Finance Minister 


03:10 PM

Defence sector faces catch 22 situation: FM Arun Jaitley


03:09 PM

We have put great emphasis on social security: FM Arun Jaitley


03:06 PM

Have reduced burden on senior citizens: FM Arun Jaitley


03:05 PM

Focus also on animal husbandry, says Jaitley



03:03 PM

This Budget will include everything, says Finance Minister


02:59 PM

'This whole healthcare scheme will be funded by government', says Finance Minister


02:58 PM

Healthcare for poor major part of Budget 2018: FM Arun Jaitley


02:58 PM

Right time to increase capital gains tax, says Jaitley


02:57 PM

'We can certainly make ModiCare successful', says Finance Minister


02:56 PM

Health and education cess increased to 4 per cent: FM Arun Jaitley


02:55 PM

Increase in MSP linked to production: FM Arun Jaitley
 
We want the agricultural sector to grow, says Finance Minister 


02:52 PM

Modicare to become global model soon, says Jaitley


02:49 PM

Increase in MSP linked to production: FM Arun Jaitley


02:48 PM

We can't suddenly increase tax exemptions, says Jaitley


02:45 PM

My eventual road map is to bring down corporate tax to 25%, says Finance Minister 


02:44 PM

Finance Minister Arun Jaitley speaks on GST, its implementation and its effects


02:43 PM

Arun Jaitley 
 
First Budget presented after GST. Aim to reduce Corporate tax 


02:43 PM

Competing with global economies on Corporate tax, says Arun Jaitley


02:41 PM

Finance Minister Arun Jaitley speaks at DD News with Business Standard's Ashok K Bhattacharya


02:37 PM

Corporate tax lowered to 25% for companies with turnover of Rs 2.5-bn
 
Finance Minister Arun Jaitley today proposed to lower corporate tax rate to 25 per cent for businesses with turnover up to Rs 2.5 billion.
 
"This will benefit entire MSME sector which accounts for 99 per cent of companies filing taxes," Jaitley said while announcing the 2018-19 Budget.
 
The estimates of revenue foregone due to this measure is Rs 70 billion in 2018-19.


02:35 PM

No additional RBI dividend this year: RBI


02:29 PM

Experts say Budget 2018 is in line with fiscal consolidation path
 
Most of the spending announced seemed to be on "productive investments" rather than 'one-time hand outs.' You'll see more medium-long term benefits, again depending on how it's implemented and how it's funded," said Joy Rankothge, Vice President of Moody's Investors Service told Reuters said.


02:26 PM

Budget 2018: Jaitley announces subsidy scheme to tackle Delhi pollution
 
Rising air pollution found mention in the 2018-19 Union Budget speech and was termed a "cause of concern", as Finance Minister Arun Jaitley on Thursday announced support to tackle the menace in the National Capital Region (NCR).


02:21 PM

It's a grand budget, a lot of announcements for the poor, farmers and tribals. This budget will also cement India as a global economic power: Home Minister Rajnath Singh 


02:20 PM

In the 1 hour 45 minute speech, 1 hour was for the poor, this is indeed historic. The opposition has become too pessimistic: MJ Akbar,Union Minister 


02:20 PM

Top 5 key takeaways
 
1. Standard deduction of Rs 40,000 for salaried
 
2. FY19 disinvestment target set at Rs 80,000 cr
 
3. Rs 5 lakh health cover for 10 crore families
 
4. MSP for Kharif crops raised 1.5 times
 
5. Rs 5.97 Lakh crore allocation for infrastructure development


02:19 PM

Top 5 key takeaways
 
1. 25% tax on comapnies with less than Rs 250 crore turnover
 
2. 10% tax on LTCG of more than Rs 1 lakh
 
3. Short-term cap gains tax stays at 15%
 
4. FY18 fiscal deficit target at 3.5%
 
5. FY19 fiscal deficit target revised to 3.3%


02:13 PM

Air pollution 'a cause of concern', Budget announces special schemes to tackle stubble burning
 
Rising air pollution found mention in the 2018-19 Union Budget speech and was termed a "cause of concern", as Finance Minister Arun Jaitley announced support to tackle the menace in the National Capital Region (NCR).


02:08 PM

Disappointment for individual tax payers. Govt leaves personal income tax rate unchanged!


02:03 PM

I am pleased that while expanding the Ujjwala Yojana, its target has now been increased from 5 crore families to 8 crore: PM Modi


02:01 PM

The move to develop a plan for storage, processing, marketing for agricultural products created in different districts in the country is highly commendable: PM Modi


02:00 PM

I am sure India will scale new heights of progress in the years to come: PM Modi


02:00 PM

Taxes on MSMEs reduced. More perks planned: PM Modi


01:57 PM

Medical insurance of Rs 5 lakh for 10 crore families is a huge initiative. This is a historic budget: Union minister Nitin Gadkari


01:56 PM

Under the Prime Minister Gram Sadak Yojana, there will also be work to connect villages to rural Haat, higher education centres and hospitals: PM Modi


01:56 PM

FM has tried to make improvements for farmers but the problems of farmers and rural people are enormous. Measures may not be sufficient: HD Dewe Gowda, former PM


01:55 PM

Shilan Shan, India Economist, Capital Economics, Singapore
 
It was no surprise to us that they relaxed the deficit targets. It looks like the BJP is aiming to shore up support among rural voters, there have been plenty of measures announced to boost the rural economy. These are quite trademark things ahead of an election.


01:52 PM

More than 1.26 crore accounts opened across the country under Sukanya Samriddhi account scheme: PM Modi


01:52 PM

Small traders must not suffer, says Modi. 

The move to develop a plan for storage, processing, marketing for agricultural products created in different districts in the country is highly commendable: PM Modi


01:49 PM

Prime Minister Narendra Modi says Budget 2018 will give strength to Make in India scheme


01:49 PM

Prime Minister Narendra Modi believes that Budget 2018 will strengthen vision of 'New India' 


01:40 PM

I congratulate the Finance Minister for the decision regarding Minimum Support Price. I am sure it will help the farmers tremendously: PM Modi


01:39 PM

From food processing to fiber optics, roads to shipping, youth to senior citizen, rural India to Ayushmaan Bharat, Digital India to Start Up India, this budget strengthens hopes and aspirations of crores of Indians: PM Modi 


01:37 PM

Budget 2018 will boost income of small companies, says PM Modi


01:37 PM

Budget has devoted attention to all sectors


01:37 PM

Budget 2018 will improve income of farmers in India, says Modi


01:34 PM

Big relief for farmers for in Budget 2018, says Modi


01:34 PM

PM Modi says, Budget 2018 focuses on 'ease of living'


01:32 PM

PM Modi lauds Arun Jaitley for Budget 2018
 
This Budget is middle class friendly, aam aadmi friendly, corporates friendly and development friendly.


01:28 PM

Bihar Chief Minister Nitish Kumar congratulates Modi government for national health protection scheme to benefit 10 crore poor families announced.
 
It's a great initiative, said Nitish.


01:27 PM

The budget has serious problems in basic sectors, there are no serious allocations about Defence of the country. In this budget, there is nothing much about Railways other than safety: DP Tripathi, MP, Rajya Sabha


01:26 PM

'No change in the existing Securities Transaction Tax' says Finance Secretary Hasmukh Adhia


01:26 PM

Sensex recovers after a sharp decline in trade; Nifty back in green zone


01:25 PM

Arun Jaitley added that exports are expected to grow at 15% in 2018-19 and that the government is on track to achieve 8% growth.


01:24 PM

India unveiled its budget 2018 for the fiscal year starting April 1 on Thursday, in what is being seen as a test for Prime Minister Narendra Modi to maintain fiscal discipline without stifling economic growth ahead of general elections next year. Read the highlights of Budget 2018


01:22 PM

Highlights of Arun Jaitley's Budget 2018 speech
 
FINANCE MINISTER COMMENTS
 
"We are now a $2.5 trillion economy, and we are firmly on path to achieve 8 per cent plus growth soon".
 
"We are not only focussing on 'Ease of Doing Business' but also 'Ease of Living'".
 
"Government to take all steps to eliminate use of cryptocurrencies which are being used to fund illegitimate transactions".


01:22 PM

Highlights of Arun Jaitley's Budget 2018 speech
 
HEALTH/POLLUTION
 
To provide Rs 500,000 per family annually for medical reimbursement under National Health Protection Scheme. Finance minister says the plan will protect 500 million poor people and will be world's largest health protection scheme.
 
To implement special schemes for governments around Delhi to address air pollution
 
Removal of crop residue to be subsidized in order to tackle the problem of pollution due to burning of crop residue


01:19 PM

Niti Aayog's VC Rajiv Kumar on Budget 2018 to ETNow
 
Commend FM Arun Jaitley for not taking path of fiscal fundamentalism
 
* Budget has focused on agri, which was much needed
 
* Need to see transformation needed for Indian economy in areas like health and agri


01:17 PM

On standard deduction...
 
Alok Agrawal, Senior Director, Deloitte India
 
Standard deduction of Rs 40,000 p.a. for salaried individuals seems to be a very nominal benefit as the current tax-free limit for medical expense reimbursement of 15,000 p.a. and transport allowance exemption of Rs 1,600 p.m. is anyway leading to a total tax-free salary of Rs 34,200 p.a.


01:16 PM

Highlights of Budget 2018 speech
 
AGRICULTURE
 
Finance minister says will focus on strengthening rural, agriculture economy
 
Sets 10 trillion rupees to Rs 11 trillion credit for "agricultural activities"
 
Minimum support price of all crops to be increased to at least 1.5 times of production cost
 
Export of agriculture commodities to be liberalised


01:16 PM

Highlights of Budget 2018 speech
 
BANKING/LENDING
 
To soon announce measures to address bad loans of small and medium enterprises
 
Proposes setting up 3 trillion rupees plan for lending for small enterprises


01:15 PM


01:14 PM

The govt has attempted to pay lip service to farmers and to other marginalised sections of society but it is a classical case of too less and completely at the inappropriate time: Manish Tewari, Congress.


01:14 PM

BANKING/LENDING
 
To soon announce measures to address bad loans of small and medium enterprises
 
Proposes setting up Rs 3 trillion plan for lending for small enterprises


01:13 PM

INFRASTRUCTURE
 
To spend Rs 14.34 trillion ($225.50 billion) on rural infrastructure


01:13 PM

EXPENDITURE
 
Estimates Rs 1.38 trillion expenditure on health, education and social security
 
Railway capital expenditure set at Rs 1.49 trillion for 2018/19.


01:13 PM

GROWTH
 
Estimates 7.2 to 7.5 per cent GDP growth in second half of current fiscal year
 
Finance minister says "firmly on path to achieve 8 per cent plus growth soon"


01:11 PM

FISCAL DEFICIT
 
Targets 2018/19 fiscal deficit at 3.3 percent of GDP, estimates current year at 3.5 percent


01:10 PM

Here are the main highlights: 
 
1) With demonetisation, the quantum of cash currency in circulation has decreased and the tax base has increased. It has improved the digitalisation of our country, says Arun Jaitley. 


01:05 PM

Gurcharan Das, former CEO of Procter & Gamble told ETNow, "This is not a populist budget, this is a prudent budget. The most visionary thing in this budget is health".


01:03 PM

FY19 revenue deficit pegged at 2.2% of GDP


01:02 PM

Industry view:

"Budgetary allocation of Rs 100 billion for developing Fisheries, Animal husbandry can give the necessary boost to these sectors. Further focus on developing horticulture cluster, organic farming and move to boost export through Mega Food Parks can help in better linkage of farmers to the processors."

Ajay Kakra, Leader - Food and Agriculture, PwC India


01:01 PM

Markets react to FM Arun Jaitley's Budget 2018 speech: Sensex tumbles 350 points. Markets hits 2-week low


01:01 PM

Industry view: 

"The continued focus on agricultural sector reform is appreciated, especially the government's effort to integrate rural haats to the eNam and increasing the purview of MSP for comprehensive coverage of agri commodities .The farmers can look forward to better price realisation now. " 
Ajay Kakra, Leader - Food and Agriculture, PwC India
 


12:56 PM

Industry view:
 
My heartiest congratulations to this government for investing in creating a swasth bharat by launching the Ayushman Bharat programme. Such ambitious out of the box thinking was a burning need of the hour and the government has not disappointed. The initiative to cover 10 crore families with 5 lakh per family/per year WITH INSURANCE COVER FOR SECONDARY AND TERTIARY HEALTHCARE will be a gamechanger: Prathap Reddy, Chairman, Apollo Hospitals 
 
 


12:51 PM

BS VIEW: Another blow to taxpayers
 
Education, health, education cess increased to 4%


12:50 PM

Propose to tax long term capital gains exceeding Rs 1 lakh at 10% without indexation: Arun Jaitley


12:50 PM

Govt levies 10% capital gains tax for Rs 1 lakh gains
Short-term capital gains tax continues to be 15%
Capital gains made on shares until Jan 31, 2018 grandfathered


12:49 PM

Customs duties hiked on mobiles to 20 pre cent from 15 per cent; on TVs to 15 pre cent to boost domestic manufacturing.


12:49 PM

MARKETS LIVE: LTCG tax of 10% for gains of over 100,000; Sensex, Nifty crack


12:46 PM

FM: Propose to tax LTCG of 10% for gains exceeding Rs 100,000


12:43 PM

Standard Deduction Of Rs 40,000 For Salaried Employees In Lieu Of Transport, Medical Expense


12:42 PM

BS VIEW: Senior citizens to bless FM

8% guaranteed return scheme from LIC; health insurance relief  


12:41 PM

BS VIEW: Standard deduction of Rs 40,000

Rs 80 billion consolation prize for salaried taxpayers on transport, medical expense


12:40 PM

BS VIEW: No change in personal income tax structure
 
Middle class hopes from a "poll-bound" Budget dashed 


12:37 PM

FM Jaitley meets India Inc's demand, cuts corporate tax rate to 25% for MSMEs.


12:37 PM

Standard deduction of Rs 40,000 for salaried taxpayers, says Arun Jaitley


12:35 PM

No change in personal income tax structure, says Arun Jaitley


12:35 PM

Status quo for salaried class, says Arun Jaitley


12:34 PM

BS VIEW: Corporation tax rate cut to 25% to firms up to Rs 250 cr turnover

Promise to big firms unfulfilled; relief for MSMEs


12:33 PM

FM Arun Jaitley says propose to allow 100% tax deduction to companies registered as farmer-producer companies with a turnover of Rs 100 crore.


12:32 PM

25% Corp tax rate extended to companies with turnover up to Rs 250 cr


12:32 PM

FM says Rs 90,000 cr extra collected as personal Income Tax in last 1 year. will continue with tax policies that reward honest tax payers.


12:32 PM

Finance Minister says committed to 3.3% Fiscal Deficit for FY19 onwards


12:30 PM

Nifty slips amid budget presentation


12:29 PM

FM Jaitley says personal tax buoyancy has improved significantly.


12:28 PM

8.5 million new taxpayers have filed returns for FY17: FM Arun Jaitley


12:27 PM

BS VIEW: Fiscal prudence goes off track
 
3.5% fiscal deficit for FY 18; 3.3% for FY 19


12:26 PM

Total revised expenditure 21.575 lakh crore: FM Jaitley


12:25 PM

Revised Fiscal deficit FY18 at Rs 5.95 lakh cr, or 3.5% of GDP. Committed to 3.3% fiscal deficit in FY19: FM Jaitley


12:25 PM

BS VIEW: FY 19 disinvestment target at Rs 800 billion
 
Given that the receipts are set to touch Rs 1 trillion in FY 18, this seems to be a very conservative figure.


12:24 PM

Govt will bring out an industry-friendly defence production policy in 2018: Arun Jaitley


12:24 PM

FM Arun Jaitley to now discuss tax proposals


12:22 PM

Infrastructure outlay increased from Rs 4.94 lakh cr to almost Rs 6 lakh cr FY19: Arun Jaitley


12:21 PM

Emoluments of the president to be revised to Rs 5 lakh, Rs 4 lakh for the vice president and Rs 3.5 lakh for governors: FM Arun Jaitley


12:21 PM

Jaitley proposes a law to facilitate automatic revision of emoluments for MPs every five years based on inflation


12:21 PM

Comprehensive gold policy on cards, gold monetisation scheme to be revamped: FM Arun Jaitley


12:20 PM

Meanwhile, there's ruckus in Parliament during Finance Minister Arun Jaitley's Union Budget speech


12:20 PM

Individual enterprises will now have unique IDs: FM Arun Jaitley


12:19 PM

Airports Authority of India now has 124 airports, this will be expanded by 5 times. Aim of 1 billion trips a year: Arun Jaitley


12:19 PM

Niti Aayog to establish a national programme to direct efforts towards Artificial Intelligence, including research and development of its applications: Arun Jaitley


12:19 PM

Will take all steps to eliminate the use of Cryptocurrencies, will encourage Blockchain technology in payment systems: Jaitley


12:18 PM

FY19 divestment target set at Rs 80,000 cr; FY18 divestment estimate revised to Rs 1 lakh cr: Jaitley


12:18 PM

FY19 disinvestment target is Rs 80,000 cr: FM Arun Jaitley


12:17 PM

Govt has identified 372 specific business reform actions to improve ease of doing business; Evaluation of performance under this programme to be based on user feedback: FM Arun Jaitley


12:17 PM

Industry view: 

Government proposes to revamp the system of sanctioning of loans to SMEs. The information required for sanctioning the loan will be linked with GSTN and all required information can be fetched from GSTN Portal. It will help to grant the loans quickly and will help in reducing processing time: Rakesh Bharagava, Director, Taxmann


12:16 PM

PSU general insurers to be merged, listed, says FM Arun Jaitley


12:16 PM

Extra Budgetary expenditure of Rd 5.97 lakh cr for infra, says Jaitley


12:14 PM

After Aadhaar, a unique identity for every business, says Arun Jaitley


12:14 PM

The finance minister proposes two defence industrial corridors in the country to promote domestic production in both public and private sectors.


12:13 PM

Arun Jaitley speech: Two industrial defence corridors on cards


12:13 PM

Will take steps to curb illegal transactions using cryptocurrencies: Arun Jaitley


12:12 PM

BS VIEW: Sebi may mandate large firms to meet 25% of their debt needs from market
 
Move to widen the corporate bond market, but is mandating by Sebi a good idea?


12:11 PM

1 lakh gram panchayats have been connected to high-speed broadband. Allocates Rs 10,000 crore to set up 5 lakh Wi-Fi hotspots to provide broadband access to 5 crore rural citizen: Arun Jaitley


12:11 PM

The government does not take cryptocurrency as legal. Will take strict action, says Arun Jaitley


12:10 PM

Arun Jaitley speech: 500,000 wi-fi hotspots on cards to servive 50 mn rural dwellers.


12:10 PM

Budget 2018 LIVE Arun Jaitley speech:  Sebi to mull asking large corps to meet 25% of debt from the market.


12:09 PM

BS VIEW: Agri-products to be in futures market
 
This can help smoothen the boom and bust problem in farm prices


12:09 PM

Jaitley says

The low-cost air connectivity scheme, UDAN, will connect 56 unserved airports and 31 unserved helipads


12:08 PM

BS VIEW: SME loan sanctioning will be linked with GSTN 
 
A major move as it will help in reducing loan processing time


12:08 PM

Will add 90 km of tracks to Mumbal’s local train network at Rs 11,000 crore to also allocate Rs 17,000 cr for Bengaluru metro network.


12:07 PM

Operations at 16 airports have started under regional connectivity scheme UDAAN.: Arun Jaitley


12:06 PM

FM says allocate Rs 1.38 lakh cr in FY19 Vs Rs 1.22 lk cr in FY18 for govt health and education programmes.


12:06 PM

Finance Minister says to eliminate 4,267 unmanned rail crossings at broad gauge network. All stations with more than 25,000 footfall will have elevators.


12:05 PM

BS VIEW: Women contribution to EPF cut to 8% for 3 years
 
Not a good idea in a country with negligible social security benefits 


12:04 PM

* National Health protection scheme to cover 10 crore vulnerable families

*Approx 50 crore beneficiaries providing them up to Rs 5 lakh per family per year.

* World's largest health fund programme


12:03 PM

Big announcements made by the Finance Minister for the healthcare sector


12:02 PM

Women contribution to EPF pared to 8%: FM Arun Jaitley


12:01 PM

Allocate Rs 7,148 cr to textile sector; need investment of Rs 50 lakh cr for infra sector: FM Arun Jaitley


12:00 PM

Govt to construct tunnel at Sela Pass in Arunachal Pradesh: FM Arun Jaitley


11:59 AM

Budget is about Modicare, farmers and women empowerment


11:58 AM

FM Jaitley says women employees' contribution to EPF to be reduced to 8% from 10% for the first 3 years.


11:57 AM

FM Arun Jaitley says women employees' contribution to EPF to be reduced to 8% from 10% for the first 3 years.


11:56 AM

National Health Protection Scheme with 50 crore beneficiaries, will provide upto Rs 5 lakh per family per year for secondary and tertiary: FM Arun Jaitley


11:56 AM

Special focus on affordable housing announced


11:55 AM

Jaitley says the government will contribute 12% of the EPF of new employees for all sectors in next three years.
 


11:54 AM

Arun Jaitley
 
Govt to contribute 12% of EPF contribution for new employees in all sectors.


11:53 AM

BS VIEW: Govt to soon announce measures on SME NPAs
 
Will defaulter SME promoters be allowed to bid to prevent liquidation? 


11:52 AM

FM Jaitley says
 
Target MUDRA loans for Rs 3 lakh cr next FY


11:52 AM

FM Jaitley says
 
The Government is slowly but steadily progressing towards universal health coverage


11:51 AM

Propose to increase the digital intensity in education and move gradually from blackboard to digital board: FM Jaitley


11:51 AM

FM Jaitley says
 
— 8 crore poor women will get free gas connection
 
— Rural Electrification FY19 will be of Rs 16,000 crore


11:49 AM

Industry view:

Current focus on developing ground infrastructure and emphasizing education, agriculture, fisheries and allied areas seems to be in the right direction: Pranay Bhatia,  Partner,  Tax and Regulatory Services, BDO India


11:49 AM

Providing Rs 5 lakh per family per year for medical reimbursement, under National Health Protection Scheme. This will be world's largest health protection scheme: Arun Jaitley


11:49 AM

187 projects sanctioned under 'Namami Gange' scheme: Arun Jaitley


11:48 AM

BS VIEW: Who said the govt didn't have money to spend?
 
Budget is in a giving mode to farmers, women, poor families, health and education 


11:47 AM

PM Jeevan Jyoti Bima Yojana to reach all poor households: Arun Jaitley


11:47 AM

24 new govt medical colleges and hospitals to be set up by upgrading existing district hospitals


11:47 AM

Health insurance scheme to cover 500 million beneficiaries of 100 million families. FM Jaitley announces a cover of up to Rs 5 lakh per year


11:47 AM

BS VIEW: Towards universal health coverage: Massive push for National health protection scheme


11:46 AM

For education sector, the government proposes revitalising infrastructure, opening schools for the ST populations as well as promoting programmes for teachers, in order to improve quality education for students: Arun Jaitley


11:46 AM

Air Pollution in Delhi NCR is a cause for concern, special scheme will be implemented to support Govts of Haryana, Punjab, UP and Delhi NCT to address it and subsidize machinery for management of crop residue: FM Arun Jaitley


11:46 AM

Scheme for revitalizing school infrastructure, with an allocation of 1 lakh crore rupees over four years. Called RISE - Revitalizing Infrastructure in School Education: FM Arun Jaitley


11:45 AM

Finance Minister says will set up PM Research Fellow Scheme; 1000 B-Tech students to be selected


11:45 AM

Finance Minister says two new planning & architecture schools to be set up in IITs


11:45 AM

Finance Minister says total investment of Rs 1 lakh cr for 'RISE'


11:44 AM

The government will launch a flagship National Health Protection Scheme, which will have 50 crore beneficiaries. The Centre will give up to Rs 5 lakh per family per year. This will include secondary and tertiary healthcare.: Finance Minister Arun Jaitley


11:44 AM

Finance Minister Arun Jaitley
 
Govt to focus on health, education & social protection. To use technology to improve education from 'blackboard to digital board"


11:43 AM

Finance Minister says propose to treat education holistically without segmentation.


11:43 AM

Finance Minister says allocate Rs 2,600 underground water irrigation plan in 96 districts


11:42 AM

500 mn beneficiaries of govt health care scheme: FM Arun Jaitley


11:42 AM

BS VIEW:

Another winner from 'poll' vault: 
80 million poor families to be given free gas connection under Ujjwala scheme


11:41 AM

BS VIEW: Rs 1 trillion for RISE

Rural infra and education get a massive push


11:41 AM

BS VIEW: Another winner from 'poll' vault
 
80 million poor families to be given free gas connection under Ujjwala scheme


11:40 AM

Industry View:

Doubling of allocation to associated food processing activities to Rs 1,400 crore would support ancilliary food processing activities and complement the existing players in the food processing industry: Maulik Doshi, Partner, Transfer Pricing and Transaction Advisory Services, SKP Business Consulting LLP


11:40 AM

Finance Minister Arun Jaitley says Rs 16,000 cr allocation for electricity connection to poor families


11:40 AM

Eklavya schools to be started for Scheduled Tribe population: FM Arun Jaitley


11:40 AM

Industry view:

Govt's promise of a Minimum Support Price of 150% of production cost of agricultural produce along with setting up of Gramin Agricultural Markets is a significant measure and would be a shot in the arm for the small and marginalised farmers: 
Maulik Doshi, Partner, Transfer Pricing and Transaction Advisory Services, SKP Business Consulting LLP


11:38 AM

Industry view: 

Govt is focusing on moving from "ease of doing business" to "ease of living". This indicates an active focus on macro-economic spending and long term focus, says Maulik Doshi, Partner, Transfer Pricing and Transaction Advisory Services, SKP Business Consulting LLP


11:38 AM

Hope to grow at 7.2 per cent-7.5 per cent in the second half of 2017-18: FM Arun Jaitley


11:38 AM

Rs 14 lakh cr for enhancing rural livelihood: FM Arun Jaitley


11:38 AM

Allocating natural resources in a more transparent manner, there is a premium on honesty now: FM Arun Jaitley


11:37 AM

Rs 11 lakh cr for instant farm credit mooted next FY: FM Arun Jaitley


11:37 AM

Finance Minister says allocate Rs 2,600 underground water irrigation plan in 96 districts.


11:36 AM

Integrated B.Ed programme to be initiated for teachers, to improve quality of teachers: FM Arun Jaitley


11:35 AM

Finance Minister says propose to extend Kisan credit card to fisheries & animal husbandry farmers.


11:34 AM

8 crore free gas connections to women under UJJWALA and 4 crore electricity connections to the poor under Saubhagya Yojana: FM Arun Jaitley


11:31 AM

6 crore toilets have been built so far under the Swachh Bharat campaign. The target for the next financial year is to build another 2 crore toilets: FM Arun Jaitley


11:31 AM

Government led by PM Modi has implemented a series of fundamental structural reforms: FM Arun Jaitley


11:30 AM

Grameen Agricultural Market (GRAM) will provide farmers a means to sell directly to buyers: FM Arun Jaitley


11:30 AM

FM Arun Jaitley breaks tradition. Gives bilingual Budget 2018 speech 


11:29 AM

Removal of crop residue to be subsidised to tackle the problem of pollution due to burning of crop residue: FM Arun Jaitley


11:29 AM

Rs 1,290 cr allocated to the National Bamboo Mission: FM Arun Jaitley.


11:28 AM

BS VIEW: FM Arun Jaitley's speech so far has been 'Jai Kisan Budget'


11:28 AM

FM Arun Jaitley says doubling the allocation of food processing industry from Rs 715 cr to Rs 1400 cr.


11:27 AM

Kisan Credit cards extended to fisheries, animal husbandry: FM Arun Jaitley.


11:27 AM

BS VIEW: FM's speech so far is all about a Jai Kisan Budget


11:27 AM

From 10 lakh crore to 11 lakh crore - credit for agricultural activities, says FM Arun Jaitley.


11:26 AM

Finance Minister says will look at cluster development model for horticulture & agri crops


11:26 AM

Grameen Agricultural Market (GRAM) will provide farmers a means to sell directly to buyers: FM Arun Jaitley.


11:25 AM

Cultivation of horticulture crops in clusters can boost production and marketing: Jaitley. Agri-market Development Fund with a corpus of Rs 20 billion to be set up for developing agricultural markets: FM Arun Jaitley.


11:25 AM

Allocation to the Food Processing Ministry is being doubled to boost Food Processing; specialised agro-processing and financial institutions to be promoted by government: FM Arun Jaitley.


11:24 AM

Operation green along the lines of Operation Flood with a corpus Rs 500 cr: FM Arun Jaitley.


11:24 AM

"Budget allocation to the food processing industry will be increased from Rs 715 crore to Rs 1,400 crore", says FM Arun Jaitley.


11:21 AM


11:21 AM

eNAM to be exempt from APMC rules: FM Arun Jaitley


11:20 AM

Cluster-model approach to be adopted for agricultural production: FM Arun Jaitley


11:20 AM

Minimum Support Price (MSP) on kharif crops hiked in Budget 2018: FM Arun Jaitley


11:19 AM

The Minimum Support Price of all crops shall be increased to at least 1.5 times that of the production cost: FM


11:19 AM

470 APMCs have been connected to eNAM network, the rest to be connected by March 2018: FM


11:19 AM

Mechanism for price and demand forecasts on cards


11:18 AM

Budget 2018 LIVE Arun Jaitley speech: Will work with Niti Aayog on the system for optimal price realisation.


11:18 AM

Want farmers to earn 1.5 times the cost of produce of their crops: Jaitley says on the government’s promise of doubling farm incomes in five years.


11:18 AM

Recapitalised PSU banks are ready to support growth; achieved 7.5% average growth in three years of NDA government'.


11:17 AM

Finance Minister says MSP for kharif crops to be 1.5 times cost of produce


11:17 AM

From ease of doing business, our govt has moved to ease of living for the poor and middle class, says Arun Jaitley.


11:16 AM

Will work with states to provide more resources to improve quality of education: FM Arun Jaitley


11:16 AM

Finance Minister says recapitalised PSU banks are ready to support growth; achieved 7.5% average growth in 3 three years of NDA govt.


11:15 AM

Arun Jaitley Budget 2018 speech
 
PM aims to double farm income by 2022 


11:15 AM

Arun Jaitley Budget 2018 speech
 
Want farmers to earn 1.5x on their produce


11:15 AM

Arun Jaitley Budget 2018 speech
 
New India Budget has in store for agriculture and rural economy


11:14 AM

Arun Jaitley Budget 2018 speech
 
From ease of doing biz to the 'ease of living', says finance minister


11:13 AM

Arun Jaitley Budget 2018 speech
 
DBT a global success story, says finance minister


11:12 AM

Arun Jaitley Budget 2018 speech
 
We are now a $2.5 trillion economy, and we are firmly on path to achieve 8% plus growth soon.

 


11:12 AM

Arun Jaitley Budget 2018 speech
 
Finance Minister says indirect tax structure has been simplified with GST rollout


11:11 AM

Arun Jaitley Budget 2018 speech

Finance Minister says FDI has gone up and it is now easier to do biz in India due to reforms; now, there is a premium on honesty in India


11:09 AM

Arun Jaitley Budget 2018 speech
 
Budget2018 will focus on agriculture and rural economy, health, infra, senior citizens.


11:09 AM

Arun Jaitley Budget 2018 speech
 
We've achieved 7.55 average growth in first three years of NDA government


11:08 AM

Arun Jaitley Budget 2018 speech
 
Finance Minister says 6.2% GDP growth has signalled turnaround in economy


11:08 AM

Arun Jaitley Budget 2018 speech
 
Finance Minister says promised to reduce poverty, expedite infra creation


11:07 AM

Budget 2018 speech
 
Finance Minister says have decisively reversed policy paralysis & corruption


11:07 AM

Budget 2018 speech
 
All structural reforms taken by Modi government will help India's growth: Arun Jaitley


11:04 AM

 Arun Jaitley's Union Budget speech begins


11:01 AM

Parliament session begins, Finance Minister to present Budget 2018 shortly


11:01 AM

Unlike his previous four exercises, this budget will see an overhaul of indirect tax, in wake of GST. Follow extensive coverage on Business Standard.


11:00 AM

The Cabinet has approved Budget 2018. FM Arun Jaitley presents the last full Budget of Modi govt at 11 am


10:57 AM

With one eye on the elections and one on the economy, can Arun Jaitley deliver, what some are calling, the 'please all' budget?


10:55 AM

Budget 2018
 
According to Homi Mistry, partner, Deloitte India, the ever-increasing cost of basic necessities like housing, education, medical cost, food, etc has put the post tax income in the hands of the common man under pressure.


10:50 AM

PM Narendra Modi and Union Ministers Sushma Swaraj and Ram Vilas Paswan arrived at the Parliament


10:47 AM

Budget 2018
 
It will be interesting to see if the 7th Pay Commission is included in the Budget today, as well as if there are changes in income tax slabs.


10:44 AM

Budget 2018
 
The government on Monday tabled the Economic Survey 2017-18 in Parliament, in which it pegged India’s growth at 7 and 7.5 in the upcoming financial year.


10:36 AM

Prashant Bhushan tweets: BJP's budget dilemma: A populist budget, with elections approaching, or to keep the crony corporates happy who have funded it's extravagant election & advertising campaigns?


10:31 AM


10:31 AM

Union Budget 2018-19

Copies of Union Budget 2018 being checked by security inside Parliament premises 


10:30 AM

Expecting a populist Budget 2018? FM's hands could be tied by fiscal constraints
 
The Finance Minister is in an unenviable position of having to meet multiple expectations ranging from that of corporates or businesses seeking “relief” after GST implementation to individual tax payers hoping for lower income tax rates.


10:27 AM

Union Budget 2018 to bring income tax cheer? Here's why this EY survey thinks so
 
In a pre-Budget survey by tax consultant EY, a wide majority of 69 per cent of the respondents felt that the threshold limits for taxation would increase further in order to boost disposable income in the hands of the people.


10:25 AM

Budget 2018: Managers want Arun Jaitley to align tax cycle to calendar year
 
A Deloitte survey of pre-Budget expectations of managers on personal income tax shows that most give a thumbs-up to aligning the tax year with the calendar year.


10:22 AM

Investment advisors suggest that before an individual buys a stock based on Budget announcements, he should analyse and understand how the stock will be impacted.


10:18 AM

Budget 2018: Avoid stock-specific bets; forget expert opinion for a day
 
Every year when the finance minister is giving the Budget speech, stocks begin to react based on announcements. But a few days later, the same stocks suffer. The reason: the fine print might be quite different from the announcements.


10:11 AM

Modi govt has diminished the railways’ importance: Pawan Bansal
 
“I’m not against merging of two budgets but the government has diminished the railways’ importance. Earlier there was a separate Railway Budget, the government used to make announcements and there was scrutiny in Parliament. Now only 4-5 ministries are discussed,” says Pawan Bansal, former railway minister.


10:10 AM


10:09 AM

Budget 2018
 
Finance Minister Arun Jaitley met President Ram Nath Kovind at Rashtrapati Bhavan before presenting the Union Budget 2018-19 in the Parliament.


10:07 AM

Budget 2018: Want your income tax reduced?

In Budget 2018, the government may tweak income tax slabs and rates to bring down the burden on individuals.


09:58 AM

Finance Minister Arun Jaitley arrives at the Parliament. To present Union Budget 2018-19 at 11 am.


09:54 AM

Ahead of Budget 2018, Minister of State for Civil Aviation Jayant Sinha said, "The Budget will be a political one" - according to CNBC reports.


09:51 AM

Budget 2018: Why Arun Jaitley must focus on education, health, nutrition

A look at the past trends of flagship social sector schemes suggests that while housing, sanitation and rural employment are likely to get a push, the need of the hour is to have a clear strategy and priority for education, health and nutrition.


09:45 AM

GST

Meanwhile, business in sweet shops have been normal, with five per cent GST on the sweet products, and the sellers hoped there is no increase in the upcoming budget revision


09:43 AM

Union Budget papers arrive in Parliament Union Budget 2018


09:39 AM

Union Budget 2018: GST revision concerns retailers
 
GST has emerged as the main concern among retailers, who expect a relaxation in the tax slabs across various product categories.


09:38 AM

Finance Minister Arun Jaitley to present the Budget at 11 am — first budget post-GST.


09:31 AM

"Budget 2018 will be good"
 
"It will be a good budget. It will be for the benefit of the common people and the nation," Shukla said.


09:30 AM

Budget 2018 will benefit common man: MoS Finance
 
Minister of State (MoS) for Finance, Shiv Pratap Shukla on Thursday assured that the Union Budget 2018 would benefit both, the common people and the nation.


09:25 AM

Budget 2018: What to expect when FM Arun Jaitley opens his briefcase


09:24 AM

Sensex opens higher, Nifty reclaims 11,050 ahead on Budget
 
Follow Market LIVE updates on Business Standard


09:21 AM

Budget 2018
 
Sensex opens at 36,127.20, Nifty at 11,067.25


09:20 AM

Budget 2018

Jaitley is also expected to address the media at around 3.30 p.m. this afternoon.


09:20 AM

Following a cabinet meeting, Jaitley will present the Budget in Parliament around 11 a.m.


09:16 AM

Budget 2018: Things to look out for
 
5. Will government deficit targets be met? Does it matter if they aren’t?


09:16 AM

Budget 2018: Things to look out for
 
4. In his 2015-16 Budget speech, the Finance Minister had proposed reducing the rate of corporate tax from 30% to 25% over a four-year period. Is a cut in corporate tax likely?


09:12 AM

3. Could favourable tax treatment on company dividends end, since the recipients of dividend income are mostly promoters and investors who are believed to be better off than ordinary salaried folk?


09:12 AM

Budget 2018: Things to look out for
 
2.  Could the favourable treatment to stock market investors go, given the perception that they have made hay during the last two-three years, even as the rest of the economy hasn’t done too well?


09:10 AM

Budget 2018: Things to look out for
 
1. Given the increase in the Centre’s net direct tax collections and the widening of the taxpayer base, is a reduction in personal income-tax likely in the Union Budget?


09:10 AM

Budget 2018: Five things to look out for
 
Let's look at them one at a time


09:07 AM

Budget 2018
 
Arun Jaitley examined the final copy of the document on Wednesday evening here.


09:05 AM

Arun Jaitley is currently at the Ministry of Finance. He will be presenting the Union Budget 2018 in Parliament today.


09:04 AM

Finance minister Arun Jaitley and his team head for Parliament for Union Budget 2018 presentation


09:02 AM

Do you think Modi govt will be able to match realities and aspirations in Budget 2018?

Follow Business Standard's LIVE updates to know


09:00 AM

Business Standard explains why this year's Budget 2018-19 is so important
 
This year, there is higher-than-usual interest because many influential voices have called for a pause to the fiscal consolidation process to combat growth challenges.


08:56 AM

Budget 2018
 
Former prime minister A B Vajpayee had, as India’s external affairs minister, addressed the UN General Assembly in Hindi for the first time in the late 1970s.


08:55 AM

Budget 2018: Jaitley may follow in his boss' footsteps
 
Recently, Prime Minister Narendra Modi received much appreciation for delivering his speech at the World Economic Forum (WEF) in Davos in Hindi. 


08:54 AM

Budget 2018: A break from tradition - Jaitley may deliver Budget in Hindi too
 
In a break from tradition, Finance Minister Arun Jaitley is likely to deliver significant portions of his Budget speech today, particularly those related to the farm sector, in Hindi.


08:53 AM

Budget 2018: Jaitley may deliver significant portions of speech in Hindi

The Budget is expected to address rural distress and the common man by focusing on agriculture, job creation, and health


08:50 AM

Budget 2018: Why is it so important?
 
The Budget would show if there would be a pause for 2018-19 as well, or if a relaxed fiscal consolidation stance would be adhered to for 2017-18.


08:49 AM

Budget 2018: Who is good for the Indian Economy - Modi govt or UPA?
 
The new indirect tax regime also had an impact on the growth projection of tax revenue for 2017-18, compared with the previous year. But this was higher than what the UPA government had.


08:48 AM

Budget 2018: From GDP to inflation, which fares better - Modi govt or UPA?
 
In 2013-14, under the UPA, economic growth was at 6.4 per cent. The NDA government accelerated it to 6.5 per cent in 2017-18, if advance estimates are correct.


08:46 AM

Budget 2018 for sports talent

It is likely that the Budget 2018 will have something really good for sports talent in rural India


08:45 AM

Budget 2018: What Modi has in store for Indian sporting talent?
 
A day before Budget 2018, PM Modi said, "rural India and smaller cities are producing phenomenal sporting talent."\


08:42 AM

Budget 2018: From GDP to inflation, which fares better - Modi govt or UPA?
 
The NDA govt was able to control inflation more efficiently than the UPA government, aided by soft commodity prices. However, it could not accelerate economic growth by much.



08:38 AM

Falling internet costs - bane for film industry
 
Apart from piracy, the film industry’s woes have been compounded by falling internet data costs in a booming smartphone market and the increasing popularity of streaming services.


08:37 AM

Budget 2018: Film industry demands more theatres

Piracy, which is rampant in India, could be curbed if theatre density was increased. 


08:36 AM

Budget 2018: Bollywood wants tax cuts to spur theatre footfall, curb piracy

With the introduction of GST, entertainment tax was placed under the highest tax slab of 28%


08:32 AM

Budget 2018: FM needs to rein in fiscal deficit to keep investors on side
 
Investors were already spooked this week after India's Chief Economic Advisor Arvind Subramanian, in an economic survey ahead of the budget, suggested "a pause" in the fiscal consolidation path, while the government attempts to reinvigorate growth


08:31 AM


08:28 AM

Budget 2018: 3.25 fiscal deficit?
 
A Reuters poll this week showed most economists expect a 3.2 per cent deficit in 2018-19, as the government looks to increase investments in areas such as agriculture. Anything much beyond that, however, may draw a swift sell-off in the markets.


08:27 AM

Budget 2018: How will Jaitley, Modi keep investors happy
 
To keep investors on side however, Modi will have to convince them that he plans to keep to his word on working towards reining in the fiscal deficit.


08:26 AM

Budget 2018: Why investors still look beyond setbacks
 
While economic growth has been slowed by the botched rollout of a nationwide GST in 2017, and a shock move to ban high value currency notes in late 2016, investors have so far looked beyond the setbacks.


08:25 AM

Modi to woo rural voters?
 
PM Modi will be aiming to woo rural voters and small business owners in the last full budget before a general election that must be held by May 2019.


08:24 AM

Will Jaitley contain fiscal deficit?
 
Facing discontent at home over falling farm incomes and a backlash following policy initiatives that have dented growth


08:21 AM

Union Budget 2018 awaited, Sensex, Nifty likely to open flat
 
Meanwhile, India’s annual economic growth in the fiscal year that ended in March 2017 was unchanged at 7.1%, Economic Survey 2018 showed


07:41 AM

Benchmark 10-year bond yields have fallen 135 bps and the NSE share index has surged 55 per cent since Modi took power in May 2014.


07:35 AM

In July 2017, the Department of Economic Affairs (DEA) had cited the opinion of the attorney general to the government and the CAG on this issue: “Sebi is not obliged to remit from its general fund to the public fund account under Article 266(2) of the Constitution of India. Therefore, it would not be appropriate to deviate from the legislative intent of Parliament as elucidated in Section 14 of Sebi Act, 1992.”


07:34 AM

The issue of retention of surplus funds was first highlighted in 2008 by the CAG.


07:33 AM

Sources said this time around, Sebi has not objected to the government’s proposal on transfer of funds.


07:31 AM

According to a 2017 report of the CAG, these regulatory bodies together hold surplus cash of Rs 60.6 billion as of March 2017.


07:26 AM

The Centre has been eyeing these resources, which would enable it to reduce the fiscal deficit.


07:26 AM

Capital markets regulator, the Securities and Exchange Board of India (Sebi), has agreed to transfer Rs 16.7 billion of its surplus funds to the government.


07:23 AM

Sources said the FM’s fifth and final Budget speech of the current term of the Narendra Modi government will be truly bilingual, with Jaitley speaking at length in Hindi to reach out to the Hindi heartland.


07:22 AM

Finance Minister Arun Jaitley is likely to deliver significant portions of his Budget speech on Thursday, particularly those related to the farm sector, in Hindi.


07:19 AM

Cement production remained the biggest growth puller, rising by 19.6 per cent in December and building on the 18.4 per cent growth the month before.


07:18 AM

This was lower than the 5.3 per cent growth in the corresponding period of 2016-17.


07:18 AM

Data issued by the commerce and industry ministry showed the eight segments cumulatively grew four per cent in the first nine months (April to December) of this financial year.


07:16 AM

This dip in core sector growth rates have raised questions over a broad-based revival in industrial demand that seemed to have been heralded by the November figures.


07:14 AM

The country's output from eight core sectors rose four per cent in December, slowing from the much larger growth of 7.4 per cent in November


07:10 AM

Markets will be focused on how much India widens its fiscal deficit beyond the 3 per cent of gross domestic product projected for 2018/19.



10:05 PM

Jaitley has to stick to the roadmap of narrowing one of Asia's largest budget deficits, as failing which, India may fall on the wrong side of global investors and credit rating agencies which had late last year handed out a rare sovereign upgrade.


09:56 PM

Scrapping the colonial-era tradition of presenting the Budget at the end of February, Jaitley had for the first time presented the annual accounts on February 1 last year.

The Budget presentation was advanced by a month to ensure that proposals take effect from April 1, the beginning of the new financial year.




09:48 PM

Some kind of incentives to boost exports of certain sectors may be announced while there may be announcements for start-ups as well as for promoting entrepreneurship.



09:42 PM

Also constraining Jaitley would be the rise in global oil prices, which can stoke inflation as well as widen current account deficit.





09:35 PM

With the recent elections in Gujarat indicating erosion of BJP's rural vote base, Jaitley may also unveil incentives for the farm sector.


09:34 PM

The Budget may see new rural schemes and step up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.




09:17 PM

Sebi agrees to government demand of returning Rs 16-billion surplus funding




08:21 PM

The National Democratic Alliance government’s flagship cooking gas scheme is likely to be linked to the rural housing scheme in order to provide wider coverage. An announcement on the widening of the programme is likely to be made tomorrow.



07:01 PM

India’s Union Budget 2018-19 will be presented on 1st February 2018. Expectations and excitement run high as it will be the first post-GST and last full-year budget before the General Elections in 2019.






03:08 PM

To keep investors’ confidence, however, Modi’s government will need to be seen containing the fiscal deficit, while also increasing spending in key areas of the slowing economy.


03:08 PM

Fiscal discipline is key: Budget 2018 will test investors' faith in govt


01:58 PM

The Economic Survey has estimated that the Indian economy will grow by 7-7.5 percent in 2018-19, re-establishing India as the world's fastest-growing major economy.


12:28 PM

Modi's Budget 2018 dilemma
 
After scoring a rare sovereign upgrade late last year, Modi wants to keep global investors and credit-rating companies on his side.


12:24 PM

Modi's Budget 2018 dilemma
 
Modi has a tough balancing act in this week’s budget: maintaining fiscal prudence or handing out cash to placate rural voters ahead of next year’s election.


12:20 PM

60 stocks that doubled your money since Budget 2017
 
As the markets prepare for Budget 2018, as many as 60 stocks from BSE 500 have doubled investor’s money since the presentation of the last budget on February 1, 2017.
 
HEG Limited tops this list with a stellar rise of over 1,500%, followed by Indiabulls Ventures that appreciated 1137%. Rain Industries, Venky’s India, Bombay Dyeing, Dilip Buildcon, Vakrangee, NIIT Technologies, Astral Poly Technik and Escorts are some of the other stocks that have gained over 100% during this period, ACE Equity data show. By comparison, the S&P BSE Sensex gained around 30%.


12:18 PM

What should be the action points for the government in the coming fiscal year?
 
The mantra is to “do no harm”, so no fiscal populism. The government has been very clear about that. We have to finish ongoing reforms. There is the goods and services tax (GST); the twin balance sheet issue which is being dealt with; privatising Air India; and agriculture reforms. We also have to make sure that the macro situation, including oil prices, does not come back to haunt us. In an election year, these are some reforms that will be creditworthy for the Centre.


12:17 PM

The benchmark Sensex dropped below the 36,000-mark by falling over 124 points in early session today as participants trimmed positions ahead of the Union budget amid fresh outflow by foreign funds.
 
The 30-share index fell by 124.28 points or 0.34 per cent at 35,909.45 in opening session as consumer durables, capital goods, IT, healthcare and teck stocks dropped.


12:13 PM

Sensex falls 124 pts ahead of Budget 2018