Budget 2015 Live, Aam Budget 2015, Union Budget 2015 Live Updates, Union Budget highlights, Budget 2015, Union Budget 2015, Live Union Budget 2015, Union Budget 2015

Budget 2015 Live: Jaitley set to present India's national budget

New Delhi, (IANS) Finance Minister Arun Jaitley was set to present India's national budget for 2015-16 amid high expectations from all stakeholders in lifting overall growth, reinforced by the positive agenda set by the Economic Survey for "big bang" reforms. Here are the highlights of the budget of  2015-16.

Nirbhaya fund doubled: Jaitley (12:48)

Finance Minister Arun Jaitley Saturday doubled the budget of the Nirbhaya fund to Rs. 2,000 crore from Rs. 1,000 crore.

"The government is committed to safety and security of women, and another Rs.1,000 crore has been allocated to the Nirbhaya Fund," said Jaitley while presenting the Union budget.

The Rs.1,000 crore Nirbhaya Fund was announced in 2013 by the previous Congress-led UPA government for the empowerment, safety and security of women and girl child

 Union Budget 2015 Key Highlights-16 Last till (12:46 PM )

1. * Changes in excise on tobacco items, including cigarettes, paan masala and gutkha
2. * Tax exemption for contributions to 'Swachh Bharat Abhiyan' and 'Clean Ganga Fund' by corporates as part of CSR
3. * Increase in limit of deduction in health insurance from Rs.15,000 to Rs.25,000
4. * For senior citizens, this limit to be increased from Rs.30,000 from present Rs.10,000
5. * Deduction limit of Rs.60,000 on account of serious diseases to be enhanced to Rs.80,000 for senior citizens
6. * Exemption on contributions to Pension Fund hiked from Rs.1 lakh to Rs.1.5 lakh per year
7. * All investment payments in 'Sukanya Scheme' will be fully exempted from tax
8. * Transport allowance exemption raised from Rs.800 to Rs.1,600 per month

BREAKING NEWS: Individual taxpayers can benefit up to Rs.4.44 lakh from fresh exemptions

Six more AIIMS like institutes: Jaitley (12:40)

Six more AIIMS like institutions will be set up in the country, Finance Minister Arun Jaitley said Saturday.

Fund of Rs.1,000 crore for startups: Jaitley (12:40)

In order to boost the spirit of entrepreneurship, the government plans to set up Self Employment and Talent Utilisation body and would keep aside Rs.1,000 crore to help startups, Finance Minister Arun Jaitley said Saturday.

Defence outlay Rs.246,727 crore (12:36)

Finance Minister Arun Jaitley Saturday said that the government had provided an outlay of Rs.246,727 crore for defence for 2015-16.

BREAKING NEWS: No increase in individual tax rates

Roof for each family by 2022: Jaitley  (12:34) 

Every family in India will have a roof over its head by 2022, India's 75th year of independence, Finance Minister Arun Jaitley said Saturday.

Union Budget 2015 Key Highlights-15 till  (12:34 PM )

1. * Wealth Tax to be abolished and additional two percent tax on super rich to yield Rs.9,000 crore annually
2. * Excise duty on footwear with leather uppers to be reduced to six percent
3. * Service tax and education levy to be consolidated from 12.36 percent to 14 percent 
4. * Swachh Bharat cess of two percent, if necessary

 

Visa on arrival now for 150 countries (12:30) 

India will provide visa on arrival (VoA) to people from 150 countries, a sharp rise from the 43 countries now, Finance Minister Arun Jaitley announced Saturday.

MNREGA allocation rises to Rs.5,000 crore (12:28)

The government will enhance the allocation to the Mahatma Gandhi National Rural Employment Guarantee (MNREGA) scheme by Rs.5,000 crore, Finance Minister Arun Jaitley said Saturday.

Union Budget 2015 Key Highlights-14 till  (12:26 PM )

1. * Law against Benami property in fight against black money
2. * Quoting PAN essential in property transactions
3. * Splitting of transaction not to be permitted
4. * Tax regime to be rationalised
5. * Applicability of General Avoidance Rules (GAR) to be deferred by two years in view of problems faced in its implementation 

Union Budget 2015 Key Highlights-13 till  (12:24 PM )

1. * Non-Plan expenditure in 2015-16 estimated at 1,312,200 crore; Plan expenditure estimated at Rs.465,277 crore
2. * Tax collection in 2015-16 estimated at Rs.1,449,490 crore
3. * Corporate tax to be reduced to 25 percent from 30 percent in four years
4. * Rigorous imprisonment of up to 10 years for concealing income
5. * Prevention of Money Laundering Act to be amended to provide for forfeiture of property in India if the one abroad cannot be attached

BREAKING NEWS: Wealth tax abolished

BREAKING NEWS: Concealment of income will invite rigorous punishment

National Skill Mission to develop youth employability (12:20) 

The government Saturday announced the launch of a National Skill Mission to develop youth employability, especially for those below 25 years of age.

BREAKING NEWS: Surcharge on income over Rs.1 crore

Ashoka Charka gold coin soon (12:18)

New Delhi, Feb 28 (IANS) India will soon have its own gold coin, with the Ashoka Chakra minted on it.

Union Budget 2015 Key Highlights-12 till  (12:16 PM )

* Exemption to individual tax payers to continue

* In last nine months several steps taken to effectively deal with problem of black money
* Comprehensive new law to be brought against black money

* New structure to be put in place in banking sector for seamless integration of data

BREAKING NEWS: Corporate tax to be reduced

BREAKING NEWS: Direct tax collection estimated at Rs.14.49 lakh crore

Union Budget 2015 Key Highlights-11 till  (12:12 PM )

1. * Adequate provision for defence with Rs.246,727 crore earmarked this year
2. * Fully IT-based student-help facility for needy students
3. * Eastern states to be given opportunity to develop faster. Special boost to Bihar and West Bengal as in the case of Andhra Pradesh and Telangana
4. * Good progress in DMIC corridor and other infra-projects. Rs.1,200 crore earmarked and additional funds if pace of work picks up on ongoing projects

 Union Budget 2015 Key Highlights-10  till  (12:10 PM )

1. * Procurement law to be drawn up to ensure transparency and remove corruption
2. * Centenary of Deen Dayal Upadhyay to be celebrated; committee for this to be set up soon
3. * During 2015-16 AIIMS-like institutes to be set up in Jamu and Kashmir, Punjab, Tamil Nadu and Himachal Pradesh; Bihar to get second AIIMS-like institution
4. * Karnataka to get an IIT; Indian School of Mines in Dhanbad to be upgraded to IIT
5. * Good progress being made on Digital India

 

Two lakh km of roads to be built  (12:02) 

New Delhi, Feb 28 (IANS) Finance Minister Arun Jaitley Saturday said the government intends to build two lakh km of road network.
This includes one lakh km already under construction and sanctioning another one lakh km of roads. The minister was presenting the budget for 2015-16 in parliament.

Union Budget 2015 Key Highlights-9  till  (12:00 PM )

1. * To discourage transactions in cash, Rupee debit card to incentivise credit transactions
2. * In line with 'Act East Policy', steps to catalyse investment in this sector through a project development company to oversee investments in Cambodia, Laos and Vietnam
3. * Tourism has increased after Visa on Arrival introduced for 43 countries. This facility to be increased to 150 countries in different stages

Union Budget 2015 Key Highlights-8  till  (11:54 am )

* Public Debt Management Agency to be created to strengthen the bond market

* Gold Monetisation Scheme to be introduced; sovereign gold bonds to be introduced; working on developing Indian gold coin with Ashok Chakra on face

* Vision of making India cashless society

* Foreign Investment in alternative investment funds to be permitted

Government plans to bring down fiscal deficit: Jaitley (11:48) 

government targets to bring down the fiscal deficit to 4.1 percent of the gross domestic product (GDP) in 2014-15 and further down to 3 percent in three years.

Union Budget 2015 Key Highlights-7  till  (11:46 am )

* Ports in public sector to be encouraged to utilise land under their control

* Make India investment-destination by streamlining permission procedures

* Five ultra-mega power projects each of 4,000 MW to be set up

* MGNREGA allocation to be enhanced by Rs.5,000 crore, if additional funds available

  Union Budget 2015 Key Highlights-6 till  (11:42 am )

1. * Integrated education and livelihood scheme to be launched* "The Everlasting Flame" exhibition on Parsis to be launched
2. * National investment and infrastructure fund to be launched with corpus of Rs.20,000 crore to generate more funds
3. * Innovation initiative to be launched in NITI Aayog in the name of former prime minister Atal Bihari Vajpayee

 Union Budget 2015 Key Highlights-5 till  (11:38 am )

* Government committed to increasing access of people to the banking system

* Universal social security system for all Indians, especially poor and disadvantaged sections

* Atal Pension Yojna for economically disadvantaged 

* PPF and EPF corpus to be utilised for senior citizens' welfare fund 

* Physical aids and assisting devices for physically challenged senior citizens

Union Budget 2015 Key Highlights-4 till  (11:36 am )

1. * Main challenges: increasing agricultural production; increasing investment in infrastructure; with manufacturing declining, Make in India will create jobs; cooperative federalism
2. * Agriculture credit targetted at Rs.8.5 lakh crore
3. * Rural jobs scheme to get Rs.34,699 crore; Every poor will get a job
4. * To work with NITI Aayog for creating a National Agricultural Market

BREAKING NEWS: Universal social security system announced

80,000 secondary schools to be upgraded (11:32) 

Finance Minister Arun Jaitley Saturday said the government was committed to providing quality education and planned to upgrade 80,000 secondary schools in the country.

He also said in his budget speech that the government wanted to provide medical facilities in each village and city.

Union Budget 2015 Key Highlights-3 till  (11:30 am )

1. * Need well-targeted system for subsidies.
2. * Direct transfer of subsidy to LPG consumers
3. * Appeal to well-off consumers to surrender subsidised LPG connections
4. * Organic farm schemes of agriculture ministry to be supported
5. * 'Per drop More crop' scheme for better irrigation

Union Budget 2015 Key Highlights-2 till  (11:18 am )

1. * Three achievements - Jan Dhan Yojna, coal auctions, Swachh Bharat
2. * Two more gamechanging reforms: Goods and Services Tax, JAM trinity (Jan Dhan Yojna, Aadhar, Mobile number) to ensure transparency
3. * Our achievement to conquer inflation, CPI inflation at five percent by year-end
4. * GDP growth at 7.4 percent in 2014-15 and at 8-8.5 percent in 2015-16; double-digit growth feasibl

Union Budget 2015 Key Highlights till  (11:08am ) 

1. * We are in an economic environment far more positive than in the recent past
2. * Undertaken several significant steps to energise the Indian economy in last nine months
3. * India's chance to fly
4. * Budget proposals lay down roadmap for economic growth.

Jaitley starts presenting India's national budget for next fiscal

11.02 a.m.: "The credibility of the Indian economy has been reestablished," says Mr. Jaitley. "We are a round-the-clock round-the-year government."

11 a.m.: Arun Jaitley begins his Budget speech. "We have embraced the States as equal partners in the process of economic growth."

Finance Minister Arun Jaitley was set to present India's national budget for 2015-16 amid high expectations from all stakeholders in lifting overall growth, reinforced by the positive agenda set by the Economic Survey for "big bang" reforms.

"As the new government is to present its first full year budget, it appears India has reached a sweet spot and that there is a scope for big bang reforms now," the survey, tabled by Jaitley Friday said, preparing the ground for the latest annual budget.

Ahead of budget presentation, scheduled at 11 am in the Lok Sabha, Jaitley met President Pranab Mukherjee, who was himself a finance minister, and was also present at the customary meeting of the cabinet, presided over by Prime Minister Narendra Modi inside Parliament House.

In the meanwhile, the stock markets were all fired up, hoping for some positive outcomes from the budget to lift corporate fortunes, leading to the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) jump some 225 points, or 0.75 percent.

The gain followed another rally Friay that saw the 30-share benchmark index gain zoom 474 points or 1.65 percent, based on the positive tone set by the Economic Survey, which predicted an 8-8.5 percent growth for the next fiscal and said double digit expansion was now within reach.

This will be Jaitley's second annual budget, with the first one tabled in the middle of the year after a major victory in the national elections for the Bharatiya Janata Party (BJP). In a way, the finance minister then had himself raised expectations from his second budget due Saturday.

• Prev
• Next