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Union Budget 2019 LIVE Highlights, Nirmala Sitharaman: Matsya Sampada, Karamyogi maandhan yojana proposed

Union Budget 2019 LIVE Updates: The Union Government has proposed to launch Study in India programme, Matsya Sampada yojana and Karamyogi maandhan yojana. Pan card and Aadhaar card have also been made interchangeable.

Jul 5, 2019 14:08 IST
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Union Budget 2019 LIVE Highlights, Nirmala Sitharaman: Matsya Sampada, Karamyogi maandhan yojana

Union Budget 2019 live online streaming Nirmala Sitharaman: Union Finance Minister Nirmala Sitharaman would be presenting the first Union Budget of Modi Government 2.0. There are a lot of expectations from the Union Budget 2019, especially after the release of Economic Survey 2019, which is a vision document to help India grow into a 5 trillion economy by 2024-25. Catch all the LIVE updates of Union Budget 2019 on our page along with key highlights and analysis.

 

Union Budget 2019 Live Updates @1.47 pm: Narendra Modi to speak about the Union Budget 2019 in detail tomorrow in Kashi.

Union Budget 2019 Live Updates @12.58 pm: Revenue mobilisation- efforts to alleviate tax burden from small and medium tax payers. Those in the highest income bracket will need to contribute more to nation's development.

Indirect taxes- GST rates have been reduced significantly, relief of about 92000 crores given per year. Further, simplifying GST procedure. Electronic invoice system will significantly reduce compliance burden. Basic customs duty on certain commodities to be increased- certain kinds of synthetic rubber, cashew.

Union Budget 2019 Live Updates @12.56 pm: Digital payments: To discourage the practice of making business payments in cash, Finance Minister proposed to levy TDS of 2 percent on cash withdrawal exceeding one crore in a year from a bank account. Amendments will be made in Income Tax Act.

Union Budget 2019 Live Updates @12.53 pm: Government proposes to make pan and Aadhaar interchangeable.

Union Budget 2019 Live Updates @12.43 pm: Government proposes to make India a global hub of manufacturing electrical vehicles.

Union Budget 2019 Live Updates @12.34 pm: Part-B- Taxation

Taxpayers- performed their duty by paying their taxes. Appreciate honest taxpayer. Finance Minister refers to popular Tamil Sangam Era Work. Comparing taxation elephant. Direct tax revenue significantly increased from 6.38 lakh crore to 11.37 lakh crores.

Income Tax: Only those whose annual income exceeds 5 lakhs, will be required to pay income tax.

Corporate Tax: Earlier the lower rate of 25 percent was only applicable to companies having annual turnover of 250 crores. Government proposes to expand this to cover companies having annual turn-over of 400 crores. This will cover 99 percent of the companies, only 1 percent will be out of the tax cover.

Union Budget 2019 Live Updates @12.28 pm: Strategic disinvestment of select CPSEs to be taken up like Air India. Government will undertake strategic sale of PSUs. India's soveriegn external debt to GDP is lowest globally. India to start gross borrowing programme. A new series of coins - 1, 2, 5, 10 and 20 rupees have been released by the Prime Minister. They will be easy to recognise. They will be made available for public use shortly.

Union Budget 2019 Live Updates @12.27 pm: Steps to be taken to separate NPS trust from PFRDA.

Union Budget 2019 Live Updates @12.24 pm: Government to invest 100 lakh crore in infrastructure over the next five years. Expert committee to be set up to study long term finance and past experience. The committee will recommend structure and flow of funds.

Union Budget 2019 Live Updates @12.19 pm: Banking and financial systems- NPAs have reduced by over 1 lakh crore over the last year. Provision coverage ratio at its highest in four years. Six public sector banks have been enabled to come out of prompt corrective action.

Union Budget 2019 Live Updates @12.18 pm: As sixth largest economy, India to look at alternate development models. IDEA scheme to be revamped. Government is revamping 17 iconic tourism sites into world-class tourism sites to attract both domestic and foreign tourists.

 

Union Budget 2019 Live Updates @12.17 pm: Finance Minister Nirmala Sitharaman announced that the government has decided to open Indian embassies and high commissions in those countries where India does not have resident diplomatic missions. Government to open four more new embassies in the coming years.

Union Budget 2019 Live Updates @12.15 pm: Finance Minister Nirmala Sitharaman announced in her budget speech that the government proposes to issue Aadhaar cards to NRIs with Indian passport after their arrival in India without waiting for the mandatory 180 days.

Union Budget 2019 Live Updates @12.09 pm: Finance Minister Nirmala Sitharaman speaks on women of India - Naari tu Narayani. India can make greater progress with greater women participation. Grameen Arth Yojana- role of women. Government aims to enhance role of women. Propose to form a broad based committee to evaluate and suggest actions for moving forward in case of contribution of women. Socio-economic transformation - India's women's role and leadership is distinct. Record turnout of women voters has been witnessed, at par with men. 78 women MPs in the house. This re-enforces of going beyond women centic policeis to building women-led initiatives, Women entrepreneurship

Governmet proposes to expand SAG to every corner of the nation. For every SAG member, an overdraft of 5000 will be allowed. Loan upto 1 lakh to be given under Mudra scheme.

Union Budget 2019 Live Updates @12.06 pm: Ease of Living- Minimum Government, maximum governance. Digital payments gaining acceptance everywhere. PM Shram yogi Maandhan yojana was launched earlier. About 30 lakh workers have already joined the scheme for good quality life. Widespread distribution of LED bulds was taken up, leading to cost saving. Over 35 crore LED bulbs have been distributed, leading to a cost saving of Rs 18,341 crores annually.

Railway- Railway station modernisation to be launched this year to enable ease of living.

Union Budget 2019 Live Updates @12.03 pm:  Finance Minister Nirmala Sitharaman proposed to start a television channel exclusively for start-ups. It will serve as a platform for promoting start ups, discussing issues affecting their growth and match making with venture capitalists. The channel will be planned and executed by start-ups themselves.

Union Budget 2019 Live Updates @12.00 pm: Refering to Lord basaveshwara, government will enable 10 million youth to take up industry skill training - to create large pool of skilled manpower.  Increase focus on skill sets needed abroad including language training, internet of things, robotics, artificial intelligence. Four Labour Codes proposed.

Union Budget 2019 Live Updates @11.58 am: Two IITs and IISc Bangalore are now in top hundred global institutions. Propose to begin Study in India programme- focus on bringing foreign students to study in India.

Union Budget 2019 Live Updates @11.58 am: New National Educational policy- To transform India's educational system. Propose to establish a National Research Foundation to promote and fund research in the countries. NRF will ensure overall research foundation in India are strengthened in accordance with national priorities. Funds of all ministries will be integrated with this foundation.

Union Budget 2019 Live Updates @11.54 am: Finance Minister Nirmala Sitharaman announced that Gandhipedia- encyclopedia is being developed by national council for science museum to sensitize youth of gandhian philosophy.

Union Budget 2019 Live Updates @11.51am: Urban India- PM Awas Yojana (Urban) over- 81 lakh houses have been completed. 26 lakh houses have been completed. large-scale adoption of new technologies, 13 lakh houses constructed using these technologies. 95 percent cities have become ODF.

Over 1 crore citizens have downloaded Swachhta app. By October 2, 2019, the whole of India will be made open defecation free, announced Finance Minister  Nirmala Sitharaman.

Union Budget 2019 Live Updates @11.50am: Digital Literacy: Bharat net is aiming to provide internet connectivity in every panchayat to bridge rural and urban divide.

Union Budget 2019 Live Updates @11.47am: Swachh Bharat Abhiyan- propose to expland this mission to undertake solid waste management in every village.

Union Budget 2019 Live Updates @11.45am: Water Security - Constitution of Jal Shakti Ministry, it will look into management of water resources and water supply to ensure har ghar jal by 2024 under the jal jeevan mission. Creation of local infrastructure for source sustainability. Jal jeevan mission will converge with other central missions.

Union Budget 2019 Live Updates @11.42am: Agriculture- support private entrepreneurship in agriculture. Annadata to urjadata. Farmers have made India self sufficient in pulses, India hopes the same in oil seeds. 10000 new farmer producer organisations to be set up. Government to work with state government to ensure farmers get fair price for their produce. Easy of doing business should apply to farmers as well.

Zero budget farming- Replicate this innovative model. Farmers in few states are already being trained in this.

Union Budget 2019 Live Updates @11.42am: Sustainable development - Main focus -khadi and honey cluster. ASPIRE scheme.

Union Budget 2019 Live Updates @11.40am: Pradhan Mantri Gram Sadak Yojana: The phase 3 of the programme envisaged to upgrade 1,25, 000 kms of road length at an estimated cost of 80,250 crore rupees.

Union Budget 2019 Live Updates @11.37am: All-weather road connectivity to be provided to more than 97% of eligible and feasible habitations, made possible by a high pace of road construction. Government has undertaken high pace of road construction. 30000 Kms of road have been contructed using green technology, used plastics thereby reducing carbon footprint.

Union Budget 2019 Live Updates @11.36am: Fishing and fishermen- Finance Minister announced that the government has proposed Pradhan Mantri Matsya Sampada Yojana to address critical infrastructure gap in fisheries sector. A robust fisheries management framework will be set up by department of fisheries.

Union Budget 2019 Live Updates @11.35am: Rural India - Gaon, garib aur kisan centre of everything. Ujwala yojana and Saubhaghya yojana transformed rural life. 7 crore LPG connections. 100 % electrification of households across country. Access to energy improved for rural household. Every single rural family except those who are unwilling to take the connection, will have electricity and clean cooking facility.

PM Awas yojana - 1.4 crore rural homes completed. 1.95 crore houses are proposed to be provided to eligible beneficiaries with essentials.

Union Budget 2019 Live Updates @11.34am: India has emerged as major space power- NSIL has been incorporated as new commercial arm of department of space. The company will spearhead commercialisation of various space products.

Union Budget 2019 Live Updates @11.30am: Proposed to increase statutary limit of FDI from 24 percent. Merge NRI portfolio investment scheme route with foreign portfolio investment route.

Union Budget 2019 Live Updates @11.28am:  FDI inflows - remained robust. Global FDI. Government to organise global investors meet to attract cross border investors.

Union Budget 2019 Live Updates @11.27am: The Finance Minister proposed the set up of an Electronic Fundraising Platform, a social stock exchange, to list social enterprises and voluntary organizations working for social welfare objectives.

Union Budget 2019 Live Updates @11.26am: Harmonised investment experience for foreign portfolio investors -KYC procedure to be made more customer friendly.

Union Budget 2019 Live Updates @11.25am: Corporate debt markets crucial for Infrastructure sector.

Union Budget 2019 Live Updates @11.24am: MSME's- Government has allocated 350 crore rupees. Investment in MSME's to recieve big boost. Government to create payment platform for MSMEs.

Pradhan mantri karamyogi maandhan yojana- Finance Minister Nirmala Sitharaman announced that the pension benefits will be extended to 3 crore retail traders
under the Pardhan Mantri Karam Yogi Maan Dhan Yojana. Under the yojana, shopkeepers and retail traders will receive a guaranteed monthly pension amount of Rs 3,000 after they reach the age of 60 years. The scheme aims to benefit over 3 crore traders and shopkeepers with turnover of below Rs 1.5 crore.

Union Budget 2019 Live Updates @11.20am: Tarrif Policy- Structural reforms would soon be announced, reforms will be announced for rental housing.

Union Budget 2019 Live Updates @11.20am: Retirement of old and inefficient plans. UDAY- Government examining the performance of the scheme , working to improve it.

Union Budget 2019 Live Updates @11.19am: Railways: Public private partnership to be undertaken. One nation one grid - Power availability to states at affordable rates.

Union Budget 2019 Live Updates @11.16am: Inland waterways to be developed, to decongest roads and railways. Movement of cargo along river Ganga to increase by 4 times in next 4 years.

Union Budget 2019 Live Updates @11.14am: Phase 2 of FAME scheme- with outlay of 10000 crore rupees commences- faster adoption of electric vehicles. Environment friendly transport options for common man,. Comprehensive restructuring of national highway plan to be taken up.

Union Budget 2019 Live Updates @11.14am: Growth in India- Mantianence repair overhaul industry. New metro rail projects - total route of 200 kms have been approved. 657 kms of metro rail operational.

Union Budget 2019 Live Updates @11.12am: The schemes such as BharatMala, Sagarmala and UDAN are bridging rural urban divide and improving our transport infrastructure. Bharat Mala project- ambitious programme would help develop road connectivity, Sagarmala project -would help port connectivity, contribute to external trade and poor man's transport.

Udan scheme- providing connectivity to smaller cities.

Union Budget 2019 Live Updates @11.12am: We added one trillion dollar in last five years. "It took 55 yrs for country to reach 1 trillion dollar economy. Modi Govt added 1 trillion dollar to it in just 5 yrs"

Union Budget 2019 Live Updates @11.11 am: Average amount spent on food security per year approx. doubled during 2014-19 compared to preceding five years: FM

Union Budget 2019 Live Updates @11.11 am: Sixth largest economy. Many new reforms in last 5 years, Structural reforms: Indirect taxation, bankruptcy, Mudra Loans & several other programmes. Smokeless kitches, women dignity was respected with provision of tiolets.

Union Budget 2019 Live Updates @11.11 am: Nirmala Sitharaman highlights ten point agenda.

Union Budget 2019 Live Updates @11.05 am: Majboot desh ke liye majboot naagrik.  2.7 trillion US Dollars economy now. It is well within our capacity to reach 5 trillion dollars.

Union Budget 2019 Live Updates @11.00 am: Nirmala Sitharaman presents Union Budget 2019- Budget for New India.

Union Budget 2019 Live Updates @10.55 am: The Union Cabinet has officially approved Union Budget 2019. The Budget will be presented shortly.

Union Budget 2019 Live Updates @10.50 am: Nirmala Sitharaman, India's first female Finance Minister will soon unveil PM Modi's vision of making India a 5 trillion economy by 2024. Catch all the live updates here.

Union Budget 2019 Live Updates @10.46 am: Catch all updates regarding Income Tax here - Income Tax Budget 2019

Union Budget 2019 Live Updates @10.45 am: When and Where to watch Union Budget 2019

Union Budget 2019 Live Updates @10.40 am: Prime Minister Narendra Modi has arrived in the Parliament for Budget presentation.

Union Budget 2019 Live Updates @10.30 am: Currently cabinet meeting is underway ahead of Union Budget 2019 presentation. 

Union Budget 2019 Live Updates @10.20 am: Finance Minister Nirmala Sitharaman has reached the Parliament to present the Budget. The Budget speech will begin at 11 am.

Union Budget 2019 Live Updates @10.15 am: It is not a budget but a 'bahi-khata'(ledger), says CEA Krishnamurthy Subramanian.

Union Budget 2019 Live Updates @10.10 am: The Finance Minister is not carrying the budget in the traditional leather bag but in a four fold red cloth. The move aims to symbolise a departure from slavery of Western thought.

Union Budget 2019 Live Updates @10.00 am: As per tradition, Finance Minister Nirmala Sitharaman called on President Ram Nath Kovind at the Rashtrapati Bhavan before presenting the Union Budget.

Union Budget 2019 Live Updates @9.50 am: Finance Minister Nirmala Sitharaman will be presenting her first budget today for second term of the Modi government. Arun Jaitley had presented all the previous budgets for the first Modi Government, he is no longer a part of the new Modi government due to health issues.

Union Budget 2019 Live Updates @9.40 am: Welcome to our LIVE Updates of UNION Budget 2019. Catch all Budget-related news and updates, key highlights here.

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