PM Modi appreciates Jaitley's Budget, calls it progressive, positive and practicalHighlights of Union Budget 2015Jaitley woos middle class, poor, announces schemes for social security in Budget 2015-16Budget 2015: Jaitley announces several new schemes to boost economy, create jobsLive: Sensex slips nearly 370 points from day's highGovernment raises farm credit target to Rs 8.5 lakh crore for 2015-16

Union Budget 2015 live: Finance Minister Arun Jaitley says no change in individual tax rates, will cut corporate tax rate

LIVE UPDATE
  • 12:44 pm

    Individual tax payer will benefit to the extent Rs.4,44,200/- from the exemptions announced: FM


  • 12:42 pm

    Jaitley moves to introduce the Finance Bill for 2015-16, House accepts it


  • 12:39 pm

    Even our worst critics will agree that we have moved rapidly: FM


  • 12:38 pm

    Enactment of Direct Tax code under consideration: FM


  • 12:37 pm

    Transport allowance increased to 1600/month from 800/month earlier: FM


  • 12:37 pm

    Individual tax payer can get the benefit of over 4 lakh: FM 


  • 12:35 pm

    Investment in Sukanya Samridhi Scheme will be fully exempted from tax: FM


  • 12:33 pm

    Increase in limit of deduction of health insurance premium from 15,000 to 25,000. It will also be eligible for tax rebate: FM


  • 12:32 pm

    100% deduction to contribtions to Swachh Bharat funds: FM


  • 12:31 pm

    Additional funds to be generated for Swachh Bharat and Clean Ganga: FM


  • 12:31 pm

    Increase excise duty to 12.5%: FM


  • 12:30 pm

    Tax administration reforms commission recommendations in advance stages of examination: FM


  • 12:28 pm

    Will have 2% surcharge on super rich with above 1 crore Rs annual income: FM 


  • 12:28 pm

    Applicability of GAAR deferred by 2 years: FM


  • 12:27 pm

    Propose to abolish wealth tax and replace it with surcharge on income above Rs 1 crore: FM


  • 12:25 pm
  • 12:24 pm

    Royalty fees on technical service to be reduced from 25 per cent to 10 per cent: FM


  • 12:23 pm

    PAN number mandatory for any purchase above Rs 1 lakh: FM


  • 12:22 pm

    Benami transaction prohibition Bill to be introduced to curb domestic blacknony to be introduced. Benami transaction prohibition Bill to tackle black money transaction in real estate soon: FM

     


  • 12:21 pm

    To enact a comprehensive law on black money stashed abroad : FM


  • 12:21 pm

    Measures to be taken to curb black money. Proposal to disallow use of more than Rs 20,000 in cash for purchase or sale of immoval property: FM 


  • 12:19 pm

    Fiscal Deficit target to be 3.9% in FY 2015-16 and Revenue Deficit to be 2.8%  in FY 2015-16: FM


  • 12:18 pm

    Non filing of returns or filing of returns with undisclosed foreign interests an offence eligible for a 7 year term: FM


  • 12:16 pm

    Tracking down black money and bringing it back to India our prime focus: FM


  • 12:16 pm

    Exemptions to individual tax payers to continue: FM


  • 12:15 pm

    Promotion of make in India, removal of black money, min government max governance, benefit to tax payers, swacha bharat taken care of in tax propsals: FM


  • 12:13 pm

    Rate of corporate tax reduced from 30 to 25 per cent over the next 4 years: FM


  • 12:13 pm

    Rate of corporate tax in 30 per cent, higher than other countries making it uncompetitive: FM


  • 12:12 pm

    GST expected to play a vital role in developing the economy: FM


  • 12:11 pm

    Propose to do much more to eradicate black money: FM


  • 12:11 pm

    Taxation an instrument of social engineering: FM


  • 12:09 pm

    We are pursuing policy of Make In India in defense not only to cater our needs but also for export: FM

     


  • 12:07 pm

    National Skill Mission to be launched, to develop employability of youth, especially below 25 years of age: FM


  • 12:06 pm

    Eastern states need an extra boost. Special assistance to Bihar and WB: FM


  • 12:05 pm

    Institutions of science and educational research in Naga and Orissa: FM


  • 12:04 pm

    Film production, animation institute to be set up in Arunachal:  FM


  • 12:03 pm

    Propose to set up in IIT in Karnataka, IIM in J& K and Andhra Pradesh, AIIMS in Dhanbad : FM


  • 12:01 pm

    Will ensure no student misses out on education due to lack of funds: FM


  • 12:01 pm

    100th birthday ecelebration committe to be announcement for celebration of Mahatma Gandhi's birth anniversary: FM


  • 12:00 pm

    Skill India needs to be closely connected with Make in India: FM


  • 11:58 am

  • 11:57 am

    150 countries to be included in Visa for arrival facility: FM


  • 11:57 am

    Work towards the improvement of heritage cites like Chuches in Goa, forests in Rajasthan, Leh palace ladhakh, Jaliahwalah bagh, and others  


  • 11:55 am

    Aimed at security of women, we have decided to allot Rs 1000 crore for Nirbhaya fund: FM


  • 11:53 am

    Majority of Indians to have a rupee debit card. Cash flow encourages black money. We aim at making India a cashless society. Announcement in this regard to be made soon. More credit and debit cards to be announced: FM


  • 11:53 am

    Indian Gold coins to have Ashoka chakra  minted on it: FM


  • 11:52 am

    Govt to set up Five Ultra Mega Power Projects in Power and Play mode


  • 11:51 am

    After a certain age, contributions to EPF should be optional. Intend to make changes in the same: FM


  • 11:50 am

    Ports in public sector will be encouraged to corporatize & become companies under Companies Act: FM 


  • 11:50 am

    I have a vision of a building direct regime which will be at power with the world: FM


  • 11:49 am

  • 11:47 am

    Rs 5000 crore to be alloted for MNREGA which will be the highest amount allocated ever to thsi project: FM


  • 11:47 am

    Happy to announce that second unit of Kudankulam Nuclear Power station to be launched in 2016: FM


  • 11:45 am

    PPP model of Infrastructure to be revitalized and realigned: FM


  • 11:45 am

    We have to make India an ivestment destination. Intend to apoint an expert committee where a need for multiple permissions will be subsituted: FM 


  • 11:44 am

    We aim towards ease of doing business: FM 


  • 11:43 am

    Govt provides Rs 5300 cr to support micro irrigation 


  • 11:42 am

    Investment in Infrastructure to go up by 70,000 crores in 2015-16 over 2014-15.

     


  • 11:42 am

    New scheme called Nayi Manzil to enable Minority youth without school leaving certificates to get the employment.


  • 11:42 am

    Make in India programme is aimed at raising share of manufacturing in GDP and creating jobs


  • 11:41 am

    Intend to permit infrastructure bonds in rail, road and inflation


  • 11:40 am

    Major slippage in the last decade in the infrastructure. Major need to invest in the same. The figures are no match with the growth planned


  • 11:39 am

  • 11:38 am

    FM announces " Atal Pension Yojna


  • 11:38 am

    Propose new scheme for senior citizens below poverty line. This shows our dedication to the senior citizens


  • 11:37 am

  • 11:36 am

    Govt. is committed to increase the access of people to formal financial system


  • 11:35 am

    Suraksha beema yojna to cover accidental death at the premium of rS 12 per year


  • 11:34 am

    Govt committed to increasing people's access to formal banking, to expand the postal system. At least one member of each family to get job: FM


  • 11:33 am
  • 11:33 am

    Rural Infrastructure Development Fund to be Rs 25000 Crore under NABARD


  • 11:32 am

    Propose to create Mudra bank for enterprises led by SC/ST


  • 11:30 am

    Focussed to improve quality of employment under MNREGA


  • 11:29 am

    Need to ensure "per drop more crop"


  • 11:28 am

    Roadmap to achieve Fiscal deficit of 3% of GDP in three years:  Target is 3.9% in 2015-16, 3.5% in 2016-17, 3% in 2017-18.


  • 11:27 am

    Committed to the process of rationalising subsidies. Need to cut subsidy leakage. Direct cash transfer to be expanded. Need To Cut Subsidy Leakage, Not Subsidies: FM 


  • 11:27 am

    Tax buoyancy is lower but still we will meet the promise of Fiscal deficit of 4.1% of GDP this year. Aim to make the country a prosperous and meaningful global power by 75th year of India's Independence.


  • 11:26 am

    To meet fiscal deficit of 4.1% in FY15: FM 


  • 11:25 am

    Additional fiscal space to be created for more investment


  • 11:24 am

    Public Investment needs to step in to catalyze the investment in PPP


  • 11:23 am

    Govt to support agriculture, health, mnrega for upliftment of the poor


  • 11:22 am

    Five challenges that we face
    - Low Agriculture incomes
    - Investment in infratructure
    - Manufacturuing declined from 18 to 17 per cent. Make in India aimed to tackle this
    - Need to maintain fiscal discipline


  • 11:20 am

    Ease of doing business needs to be improved


  • 11:20 am

    Need to develop Make in India: FM


  • 11:19 am

    Education needs to improve in terms of quality.  


  • 11:19 am

    Good health a necessity for growth. Medical opportunities in villages a vital need.


  • 11:18 am

    Aim to complete electrification by 2020 in villages that are still lacking power. 


  • 11:17 am

    Vision of team India is guided by Central government. By 2022 we aim at housing for all. A Roof for each family in India by 2022- 75th Year of India's Independence:


  • 11:16 am

    Growth for 2015-2016 expected to be at 8-8.5 per cent: FM 


  • 11:16 am

    Our actions have not only being confined to core & macro economic areas alone: FM


  • 11:15 am

    FM discusses the achievements of the governemnt. The three main achievements are the success of Jan Dhan Yojna, Transparent coal auction, Swachh Bharat  


  • 11:13 am

    Our objective is to improve quality of life and to pass benefits to common man: FM


  • 11:13 am

    States are equal partners in Economic growth: FM


  • 11:13 am

    World is predicting it is India's chance to fly: Finance Minister


  • 11:12 am

    People in India have voted for change, for faster growth, for corruption free India: FM


  • 11:12 am

    Objective is to improve quality of life and to pass benefits to common man: FM


  • 11:11 am

    The Rupee has become stronger against other currencies: Jaitley 


  • 11:10 am

    The latest CPI inflation is 5.1 percent. WPI negative: Jaitley


  • 11:10 am

    Kuch toh phool khilaye humne, kuch toh phool khilane hai, par baagh mei abhi kaatein purane hai: Jaitley 

     


  • 11:10 am

    States economically empowered more than ever before: Jaitley


  • 11:09 am

    The credibility of the Indian econmomy has been established: Jaitley


  • 11:09 am

    When the other countries are facing challenges, India is about to move at a faster growth: Jaitley


  • 11:08 am

    States economically empowered more than ever before: Jaitley


  • 11:08 am

    India to take off on a faster growth trajactory: Jaitley


  • 11:07 am

    Finance Minister Arun Jaitley presents Union Budget 2015-16 in Parliament


  • 11:07 am

    Lok Sabha session begins.


  • 11:00 am

    Cabinet approves Union Budget 2015-16. It will be presented by Arun Jaitley in Parliament at 11 am.


  • 10:56 am

    Budget papers at Parliament


  • 10:34 am

    Cabinet meet begins to approve Finance Minister Arun Jaitley's Budget 


  • 10:27 am

    CPM leader MB Rajesh: Government is silent on concessions to foreign and National Companies. Roll back of subsidies is nothing new. Subsidies is not a big problem, the government is painting in a different way.


  • 10:25 am

    Former chief economic adviser Dr. Shankar Achraya: Do not remember when the last fertiliser prizes had been increased. We have to do something on the subsidies. Moving the LPG to direct cash is one step. Not surprized if there is an announcement on LPG that certain section is not required to get subsidy on LPG.


  • 10:19 am

    The Big questions from the Budget are:

    1. How will the government kick start manufacturing? 
    2. Will they be able to boost capital formation and investment in infrastructure? 
    3. Can the government make changes in personal tax and boost savings?
    4. Will the government remove retro tax, reduce mat and correct the inverted duty structure? 
    5. Will we see an overhaul of subsidies to curb losses? 
    6. Will we see a clear roadmap for implementation of GST?
    7. How will the 'Swachh Bharat' goals be funded? 
    8. Will startups get a policy boost? 


  • 9:44 am

    Former President APJ Abdul Kalam tweets his Budget expectations, says "I wish a #Budget2015 which focuses on two things..equitable education and quality health care for all..This is best investment we can make."


  • 9:42 am

    "A budget 'Made in India' will 'Make India', strengthening all sections of society. All inclusive,policy driven, measurable,accountable," tweets BJP leader Kiran Bedi. 


  • 9:38 am

    Cabinet meeting to be held at 10:15 am for approval of the Union Budget


  • 9:27 am

    Ahead of Union Budget 2015, Sensex opens over 200 points up, Nifty up by over 70 points in opening trade 

     


  • 9:19 am

    Jaitley has reached the President's House before he presents the Budget in Parliament today


  • 9:18 am

    Arun Jaitley carrying his briefcase of Budget documents outside his office in North block. Along with him is Minister of State for Finance Jayant Sinha 


  • 9:16 am

    Finance Minister Arun Jaitley to present his first full budget for the Narendra Modi-led government today!


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What’s Dearer

Cigarettes, Pan Masala, Hospital services, Courier services, Eating out, Gym, Laundry service, beauty parlor, spa, cable TV, Architect's services, booking plane tickets through agents

Budget Highlights

  • Increase in limit of tax deduction for health premium from Rs 15,000 to Rs 25,000 annually: Jaitley
  • 100% tax exemption in CSR activities for Clean Ganga Fund and Swachh Bharat Kosh: Jaitley
  • Tax on technical services reduced from 25 per cent to 10 per cent: Jaitley
  • 2 per cent surcharge on super rich with annual income above Rs 1 crore: Jaitley
  • Non-plan expenditure pegged at Rs 13,12,200 crore: Jaitley
  • Cash acceptance of more than Rs 20,000 for purchase of immovable property to be prohibited: Jaitley
  • New Benami Transaction Prohibition Bill to be brought to curb domestic blackmoney: Jaitley
  • Penalty for holding of blackmoney will be 300 per cent of the tax: Jaitley
  • Corporate tax reduced from 30 per cent to 25 per cent for four years: Jaitley
  • Consolidated Service tax increased to 14 per cent: Jaitley

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