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Live – Finance Minister Presenting Union Budget 2015 – 16

Finance Minister

Finance Minister Arun Jaitley is expected to present a common man-friendly Union Budget on Saturday by either raising tax slabs or hiking investment limit in savings instruments.Besides giving sops to individual tax payers, he is also expected to unveil initiatives to boost investments by corporates and promote manufacturing as part of the ‘Make in India’ campaign that aims to make the country a global manufacturing hub and create jobs.

Live Updates

11:45 (IST)
PPP model of Infrastructure to be revitalized and realigned: FM

11:45 (IST)
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 (IST)
We aim towards ease of doing business: FM

11:43 (IST)
Govt provides Rs 5300 cr to support micro irrigation

11:42 (IST)
Investment in Infrastructure to go up by 70,000 crores in 2015-16 over 2014-15.

11:42 (IST)
Investment in Infrastructure to go up by 70,000 crores in 2015-16 over 2014-15.

11:42 (IST)
New scheme called Nayi Manzil to enable Minority youth without school leaving certificates to get the employment.

11:42 (IST)
Make in India programme is aimed at raising share of manufacturing in GDP and creating jobs

11:41 (IST)
Intend to permit infrastructure bonds in rail, road and inflation

11:40 (IST)
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

11:38 (IST)
FM announces ” Atal Pension Yojna

11:38 (IST)
Propose new scheme for senior citizens below poverty line. This shows our dedication to the senior citizens

11:36 (IST)
Govt. is committed to increase the access of people to formal financial system

11:35 (IST)
Suraksha beema yojna to cover accidental death at the premium of rS 12 per year

11:34 (IST)
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 (IST)
Rural Infrastructure Development Fund to be Rs 25000 Crore under NABARD

11:32 (IST)
Propose to create Mudra bank for enterprises led by SC/ST

11:30 (IST)
Focussed to improve quality of employment under MNREGA

11:29 (IST)
Need to ensure “per drop more crop”

11:28 (IST)
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 (IST)
Committed to the process of rationalising subsidies. Need to cut subsidy leakage. Direct cash transfer to be expanded

11:27 (IST)
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 (IST)
To meet fiscal deficit of 4.1% in FY15: FM

11:25 (IST)
Additional fiscal space to be created for more investment

11:24 (IST)
Public Investment needs to step in to catalyze the investment in PPP

11:23 (IST)
Govt to support agriculture, health, mnrega for upliftment of the poor

11:22 (IST)
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 (IST)
Ease of doing business needs to be improved

11:20 (IST)
Need to develop Make in India: FM

11:19 (IST)
Education needs to improve in terms of quality.

11:19 (IST)
Good health a necessity for growth. Medical opportunities in villages a vital need.

11:18 (IST)
Aim to complete electrification by 2020 in villages that are still lacking power.

11:17 (IST)
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 (IST)
Growth for 2015-2016 expected to be at 8-8.5 per cent: FM

11:16 (IST)
Our actions have not only being confined to core & macro economic areas alone: FM

11:15 (IST)
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 (IST)
Our objective is to improve quality of life and to pass benefits to common man: FM

11:13 (IST)
States are equal partners in Economic growth: FM

11:13 (IST)
World is predicting it is India’s chance to fly: Finance Minister

11:12 (IST)
People in India have voted for change, for faster growth, for corruption free India: FM

11:12 (IST)
Objective is to improve quality of life and to pass benefits to common man: FM

11:11 (IST)
The Rupee has become stronger against other currencies: Jaitley

11:10 (IST)
The latest CPI inflation is 5.1 percent. WPI negative: Jaitley

11:10 (IST)
Kuch toh phool khilaye humne, kuch toh phool khilane hai, par baagh mei abhi kaatein purane hai: Jaitley

11:10 (IST)
States economically empowered more than ever before: Jaitley

11:09 (IST)
The credibility of the Indian econmomy has been established: Jaitley

11:09 (IST)
When the other countries are facing challenges, India is about to move at a faster growth: Jaitley

11:08 (IST)
States economically empowered more than ever before: Jaitley

11:08 (IST)
India to take off on a faster growth trajactory: Jaitley

11:07 (IST)
Finance Minister Arun Jaitley presents Union Budget 2015-16 in Parliament

11:07 (IST)
Lok Sabha session begins.

11:00 (IST)
Cabinet approves Union Budget 2015-16. It will be presented by Arun Jaitley in Parliament at 11 am.

10:56 (IST)
Budget papers at Parliament

10:34 (IST)

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

10:27 (IST)
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 (IST)
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 (IST)
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?

10 a.m.: The BSE Sensex surged over 262 points and the NSE Nifty regained the 8,900-mark in early trade of a special stock market session on Saturday, ahead of Budget 2015.

9.55 a.m.: The Economic Survey of 2014-15 has suggested three initiatives in the decreasing order of effectiveness and the increasing order of controversy to realise the ‘Make in India’ dream.

9.50 a.m.: Finance minister Arun Jaitley arrives to present Budget at Parliament House.

9.50 a.m.: Noting that the stalled projects had risen at an alarming rate during the last five years, especially in the private sector, the chief reason for declining investments, the Economic Survey 2014-15 stressed the need for investment-driven growth led by the public sector.

9.45 a.m.: India’s Rs. 3.8 lakh crore subsidies don’t always reach the poor.

9.40 a.m.: The Economic Survey said that by adopting what it called the JAM Number Trinity — Jan Dhan Yojana accounts seeded with Aadhaar numbers and operated through mobile numbers — would allow the States to deliver the subsidies to the poor in a targeted and less distorted manner.

9.35 a.m.: If you have ever wondered what a fount of information the Budget documents contain, head over to Hidden gems from the Budget documents for more.

9.30 a.m.: Arun Jaitley and Minister of State for Finance Jayant Sinha with Finance Ministry staff, at their North Block office before leaving for Rashtrapati Bhavan, ahead of the Union Budget 2015.

9.25 a.m.: This Budget is an opportunity for the government to play a long-haul game. Read more

9.20 a.m.:“FM @arunjaitley with MoS @jayantsinha left North Block to present Union Budget in the Parliament. #SabkaBudget #Budget2015”

9.15 a.m.: Union Finance Minister Arun Jaitley arrives at North Block.

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