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Tag: Budget 2019

Niranjan-Pujari1
Centre not implementing FC recommendation on sanction of funds under SDRF: Pujari

Bhubaneswar: Odisha Finance Minister Niranjan Pujari on Monday said the state government has strongly protested the Centre’s act of “not implementing” the Finance Commission recommendation on sanction of funds under SDRF. Pujari said this in the Assembly while replying a question of BJD member Ashwini Kumar Patra. He said though the 14th Finance Commission had […]

Budget to boost investment, comprehensive steps envisaged: FM

New Delhi: Finance Minister Nirmala Sitharaman Friday said the big picture presented in the Budget is backed with a plan to increase investment without compromising on the fiscal consolidation roadmap. Replying after a general discussion on the Union Budget 2019-20 in the Rajya Sabha, the minister said, “Comprehensive steps” have been envisaged for the next […]

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Budget 2019: Petrol price to rise by Rs 2.5, diesel by Rs 2.3 after tax hike

NEW DELHI: Petrol price will be hiked by over Rs 2.5 per litre and diesel by more than Rs 2.3 after finance minister Nirmala Sitharaman on Friday raised taxes on the fuels to part-fund her Budget for 2019-20 Sitharaman raised excise duty and road and infrastructure cess on the auto fuels by Rs 2 per […]

Additional Rs 1.5L Deduction of Interest for Affordable Housing: Sitharaman

New Delhi: The effective tax rates for the higher income group individuals having taxable income from Rs 2 crore to Rs 5 crore and Rs 5 crore and above is proposed to be increased by around 3 percent and 7 percent respectively. Presenting the General Budget 2019-20 in the Parliament today, Union Minister of Finance […]

Credit Guarantee Enhancement Corporation to be set up: FM

New Delhi: A Credit Guarantee Enhancement Corporation is to be set up in 2019-20. This was announced by the Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, while presenting the Union Budget 2019-20 in Parliament today. The Finance Minister further said that we recognize that investment-driven growth requires access to low cost capital. It […]

New Education Policy: Centre allocates Rs 400 crore for creating world class institutions

Bhubaneswar: The Centre will soon introduce a new ‘National Education Policy’ to transform higher education system in the country. The new policy has proposed major changes in both school and higher education among others, better Governance systems and brings greater focus on research and innovation. An amount of Rs. 400 crore has been provided for […]

Scheme to modernize fishery sector: Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Friday announced a ‘Pradhan Mantri Matsya Sampada Yojana to modernize the fishery sector. Presenting the Budget for 2019-20 in the Lok Sabha, Sitharaman said fishing and fishermen were closely aligned with farming and were crucial to rural India. “Through the focussed Pradhan Mantri Matsya Sampada Yojana, the Department […]

ISRO's new commercial arm incorporated: Sitharaman

New Delhi: To tap benefits of the Indian Space Research Organisation (ISRO), a public sector enterprise, New Space India Limited (NSIL) has been incorporated, Union Finance Minister Nirmala Sitharaman announced on Friday. NSIL’s primary aim will be to scale up industry participation in Indian space programmes. “India has emerged as a major space power. Time […]

UDAY
Sitharaman's 'power' push: UDAY scheme to be improved, new package soon

New Delhi: The beleagured power sector may get some relief as Finance Minister Nirmala Sitharaman on Friday said that the government will improve the “Ujwal DISCOM Assurance Yojana” and it will announce a package for the power sector. She also said that the government will come out with new tariff policy for the power sector. […]

Govt to double down on creating New-Age skill sets: Sitharaman

New Delhi: Realising the need to create skilled professionals in the New-Age technologies that are fast changing the business landscape for both big and small enterprises, Finance Minister Nirmala Sitharaman on Friday said the government would double down on its efforts to help develop the required skill sets needed by the industries across the spectrum. […]

Sitharaman for public private partnership in railways

New Delhi: Union Finance Minister Nirmala Sitharaman on Friday stressed that the railways need an investment of Rs 50 lakh crore from 2018 to 2030 and proposed public private partnership to unleash faster development of passenger and freight services. Presenting the Union Budget in Parliament, Sitharaman said: “It is estimated that railway infrastructure would need […]

1.25 lakh km roads to be upgraded: Sitharaman

New Delhi: Union Finance Minister Nirmala Sitharaman on Friday said 1.25 lakh km of roads across the country will be upgraded under phase three of the Pradhan Mantri Gram Sadak Yojana (PMGSY). Presenting the Budget for 2019-20 in the Lok Sabha, Sitharaman said allocation of Rs 80,250 crore had been made for the plan.

Sitharaman announces creation of 'social stock exchange'

New Delhi: Finance Minister Nirmala Sitharaman on Friday announced the setting up of a social stock exchange under the Securities and Exchange Board of India (SEBI) for listing of organisations which work for social welfare. Presenting her maiden Union Budget, the Minister said that the exchange would help social and voluntary organisations which work for […]

Indian economy to reach $3tn in current fiscal: Sitharaman

New Delhi: Presenting her first Union Budget, Finance Minister Nirmala Sitharaman on Friday said that India will become a $3 trillion economy in the financial year 2019-2020. She also said that many structural changes are needed for the country to become a $5 trillion economy, adding the target is eminently achievable. The Economic Survey for […]

Sitharaman dumps Budget briefcase for 'bahi khaata'

New Delhi: Setting a new precedent Union Finance Minister Nirmala Sitharaman on Friday was seen hugging the budget documents wrapped in a red cloth, the traditional ‘bahi khaata’ way, instead of the leather briefcase that until now her predecessors marched out with. Chief Economic Advisor K. Subramanian said that it was a departure from “slavery […]

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Union Budget 2019-20: PAN, Aadhaar interchangeable for filing of IT returns

Bhubaneswar/ New Delhi: Nirmala Sitharaman,  India’s first full-time woman Finance Minister, presented the first budget of the second term of the Narendra Modi government in the Lok Sabha today. At a high-level meeting, the Union Cabinet approved the Budget 2019 which is being presented by Sithararam. Deductions in loans for affordable housing. Rs 1.5 lakh […]

Sensex reclaims 40,000 mark ahead of Budget

Mumbai: Domestic equity benchmark BSE Sensex Friday reclaimed the 40,000 mark and the NSE Nifty inched closer to 12,000 level ahead of the Union Budget presentation. The 30-share index was trading 114.67 points, or 0.29 per cent, higher at 40,022.73 at 0930 hours. Similarly, the broader Nifty was quoting 31.85 points, or 0.27 per cent, […]

Budget discussion may start from July 8: FinMin

New Delhi: Parliament is likely to start discussion on the General Budget on July 8 while voting on Demands for Grants is likely between July 11-17 as the Narendra Modi government presents the first Budget of the second term on July 5. “The tentative dates for discussion and voting on demands-for-grants for 2O19-20 are expected […]

Income-Tax
Budget unlikely to up Rs 2.5 lakh income tax exemption limit

New Delhi: The current basic income tax exemption limit of Rs 2.5 lakh is unlikely to be raised in the forthcoming full Budget 2019-20, according to informed sources, as the Finance Ministry has already announced a provision whereby individuals earning up to Rs 5 lakh can get full tax rebate under Section 87A. Those earning […]

Dhananjay-Munde
Budget leaked on Twitter before presentation in House: Munde

Mumbai: Leader of the Opposition in Maharashtra Legislative Council Dhananjay Munde on Tuesday claimed that details of the state budget were leaked on the Twitter handle of finance minister Sudhir Mungantiwar before presentation in the Assembly. Munde and some other opposition members raised the issue in the Council and disrupted the budget presentation by Minister […]

Modi govt gift for central government employees
Modi Govt's Big Boon For Lakhs Of Central Government Employees!

At a time when lakhs of central government employees are waiting for hike in minimum pay beyond the recommendations of 7th Pay Commission, Union Finance Minister Piyush Goyal, while presenting the interim budget on February 1, made a big announcement when he extended the benefit of income tax rebate to those with income up to […]

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Interim budget 2019: Odisha gets record Rs 7,010 crore for railways

Bhubaneswar: The Modi-led NDA Government today announced a record budget grant of Rs 7010 crores for East Coast Railway and Odisha, reflecting an increase of 13 percent over last year. The total allocation contains all budgetary heads including projects, electrification, passenger amenities, workshops, track, staff amenities etc, informed sources. Under the budget, Rs 2,630 crore […]

West Bengal Assembly Passes Anti-CAA resolution
Interim Budget a farce, manifesto of BJP: Mamata

Kolkata: Expressing concern over monetary provisions to meet the Interim Budget proposals, West Bengal Chief Minister Mamata Banerjee on Friday described the document as a “farce” and “manifesto of the BJP”. “The budget proposals will be not implemented… New government will present the budget. This government’s expiry date will be over in one month. What […]

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Monthly mobile data usage up 50% in 5 years: Piyush Goyal

New Delhi: Finance Minister Piyush Goyal on Friday said the monthly mobile data usage in India has increased by a phenomenal 50 per cent in the last five years. “India is now leading the world in the consumption of mobile data. Monthly consumption of mobile data increased by over 50 times in the last five […]

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Modi government only knows 'pakodanomics': Chidambaram

New Delhi: Pointing out that the Interim Budget announced on Friday is “silent” on jobs and education, former Finance Minister P. Chidambaram ridiculed the Modi government saying all it understands is “pakodanomics”. “Two words that are missing from the Budget speech are education and jobs. In the 10 point vision document presented by Finance Minister […]