12:38 PM: Modi-led government's maiden Union Budget 2015-16 ends

12:38 PM: Transport allowance to individual income tax payers doubled to Rs 1,600

12:38 PM: Negative list in service tax has been pruned by bringing some services under tax net: FM

12:38 PM: An additional Rs 50,000 contribution to pension under 80 CCD to be allowed to make the society pensioned instead of pensionless

12:38 PM: Individual tax payers to get income tax benefit of Rs 4,44,200 in a year

12:38 PM: Clean energy cess raised from Rs 100 to Rs 200 per metric ton of coal to finance Green Energy Fund

12:38 PM: 100 percent IT deduction for contributions, other than CSR, made to Swachh Bharat fund; 2 percent surcharge to be levied on all taxes to fund Swachh Bharat campaign

12:37 PM: Government to yield Rs 23,383 crore through indirect taxes

12:36 PM: Government to bear loss of Rs 8,315 crore on direct taxes

12:36 PM: Rigorous imprisonment of 10 years under Black Money Law

12:35 PM: Customs duty on certain raw materials to be reduced; Ad valorem excise duties will not be increased

12:35 PM: Full exemption from CENVAT for various products and reduced SAD on import of raw materials

12:34 PM: Educational cess to be subsumed in the central excise duty; central excise duty to be rounded off to 12.5 percent from 12.63 percent

12:33 PM: Concealment of income abroad will be made predicate offense

12:32 PM: Moving on various fronts for implementation of GST from next year; GAAR implementation deferred by 2 more years: FM

12:31 PM: Health insurance limit raises to 25,000 from 15,000

12:30 PM: For senior citizens, health insurance limit raised to 30,000 from 10,000

12:29 PM: Rationalisation and removal of various types of exemptions to be accompanied with cut in corporate tax rate; to start from next financial year

12:28 PM: Income Tax reduction from 25 percent to 10 percent on royalty for providing technical services

12:27 PM: Reduce the rate of corporate tax to 25 percent from 30 percent over the next four years: FM

12:26 PM: Custom duty reduced on 22 items

12:25 PM: 2 percent surcharge introduced for super rich

12:24 PM: 1 percent surcharge on income of more than Rs 1 crore

12:24 PM: FEMA to be amended to provide for seizure of equivalent amount at home against illegal property abroad: Jaitley

12:23 PM: Cash acceptance of more than Rs 20,000 for purchase of immovable property to be prohibited

12:22 PM: PAN to be made mandatory for purchase of over Rs 1 lakh

12:21 PM: Non-plan expenditure pegged at Rs 13,12,200 crore; expenditure pegged at Rs 17,77,477 crore

12:20 PM: Exclusive commercial divisions in various High Courts for resolution of financial disputes: FM

12:19 PM: Penalty for holding of blackmoney will be 300 percent of the tax; tax offenders cannot go to tax settlement commissions

12:18 PM: New Benami Transaction Prohibition Bill to be brought to curb domestic blackmoney: Jaitley

12:18 PM: Comprehensive bill to deal with blackmoney stashed abroad will be introduced in the Parliament's current session

12:17 PM: Autonomous bank board bureau to be appointed to select heads of PSU banks

12:16 PM: Income Tax exemptions to individual tax payers to continue: FM

12:15 PM:
Regulatory reform law to be introduced to bring about cogency across various infrastructure sectors

12:14 PM: Centenary of Deen Dayal Upadhyay to be celebrated; committee for this to be set up soon

12:13 PM: 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

12:12 PM: Indian School of Mines in Dhanbad to be upgraded to IIT

12:11 PM: GST will put in place state of art indirect tax system by April 1, 2016; it will play trnsformative role: FM

12:10 PM: Government proposes to incentivise debit-credit card transactions

12:09 PM: Foreign investment to be allowed in alternate investment fund

12:08 PM: 100 percent FDI under automatic route will not be affected: FM

12:08 PM: Distinction between foreign direct investment and foreign portfolio investment will be abolished: Jaitley

12:07 PM: Construction of new IIT in Karnataka

12:07 PM:  J&K and Andhra Pradesh to get new IIMs

12:06 PM: Allocation for Defence for next financial year will be Rs 2,46,727 crore against Rs 2,22,370 crore in the current year

12:05 PM: Gold monetisation scheme to be introduced to allow depositors to earn interest in their metal account

12:05 PM: Government proposes sovereign gold bond; Gold coin with Ashoka Chakra to be minted to replace those made outside the country

12:05 PM: Direct tax regime on internationally competitive on rates to be put in place to incentivise saving and will be transparent: FM

12:04 PM: Special financial assistance to be given to Bihar and West Bengal on the lines of Andhra Pradesh; All legal commitments made to AP and Telangana will be met: Jaitley

12:03 PM: AIIMS to be set up in J&K, Punjab, Tamil Nadu, Himachal Pradesh and Assam

12:02 PM: Indian Financial Code to be introduced in Parliament after Srikrishna Committee report

12:01 PM: Initial sum of Rs 150 crore for creating world class IT hub to take advantage of our competitiveness: FM

12:00 PM: Forward Marketing Commission (FMC) to be merged with SEBI

12:00 PM: Rural infrastructure development fund to have a corpus of Rs 25,000 crore

11:59 AM: Ports in public sector will be encouraged to corporatise and become companies under Companies Act

11:58 AM: Deepening of Indian bond market to be started by setting up Public Debt Management agency

11:57 AM: Visa on arrival scheme to be expanded to 150 countries from the current 43 countries

11:56 AM: Hope to garner additional resources for tax buoyancy that will help enhance MNERGA by Rs 5,000 crore: FM

11:55 AM: An expert committee to be appointed to examine possibility and prepare draft legislation to replace multiple prior permission with a preexisting regulatory mechanism

11:54 AM: Ports can be an attractive investment opportunity; ports in public sector will be encouraged to corporatised and becoming companies: FM

11:53 AM: PPP model has to be revisited and revitalised; Need to address ease of doing business:  Finance Minister

11:52 AM: Government allocates Rs 1500 crore for Integrated Child Development Scheme, Rs 500 crore for Integrated Child Protection Scheme

11:51 AM: Rs 3000 crore allocated for PM's Irrigation scheme

11:50 AM: FEMA to be amended to give government clear control over capital flows: Jaitley

11:49 AM: Tax free infrastructure bonds for projects in roads, rail to be introduced

11:48 AM: Capex of PSUs pegged at Rs 3,17,889 crore in 2015-16, up Rs 80,844 crore over previous year; overall investment will go up by Rs 75,000 crore from central funds in 2015-16 over 2014-15

11:47 AM: Five ultra mega power projects each with capacity of 4000 MW to be set up: FM

11:47 AM: Second unit of Koodankulam Nuclear Power plant to be operational by 2015-16

11:46 AM: Allocation of Rs 30,851 crore for Scheduled Castes, Rs 79,258 crore for women in Budget 2015-16: FM

11:45 AM: Pradhan Mantri Jeevan Jyoti Yojana to cover accidental death at a premium of Rs 330 per year: FM

11:45 AM: Atal Innovation Mission to be launched to encourage a culture of innovation in the country: Jaitley

11:44 AM: Soon to be launched Pradhan Mantri Suraksha Yojana to provide accident insurance of Rs 2 lakh on a premium of Rs 12 per year: FM

11:43 AM: Government to launch education welfare scheme 'Nayi Manzil' for unemployed minority youth

11:42 AM: Postal offices to function as payment banks: Finance Minister

11:41 AM: We will bring comprehensive bankruptcy code: Arun Jaitley

11:40 AM: Government plans 'Jeevan Jyoti Beema Yojana' under which Rs two lakh cover at a premium of Rs 330 per year will be provided to people aged between 18 and 50

11:39 AM: Government proposes to create senior citizen welfare fund with unclaimed deposit of Rs 9000 crore in PPF/EPF schemes

11:38 AM: 8.5 lakh farm credit targeted in 2015-16, says Finance Minister Arun Jaitley

11:37 AM: Government to work towards creating universal social security system for all Indians, especially the poor: Jaitley

11:36 AM: Rs 25,000 crore allocated in 2015-16 for rural infrastructure development fund

11:35 AM: Some strategic disinvestments will happen besides disinvestment in loss making PSUs: Jaitley

11:34 AM: 11.5 crore LPG consumers transfered subsidy directly; Well-offs including MPs and Ministers will give up subsidised LPG voluntarily: FM

11:33 AM: Fiscal deficit target for 2016-17 will be 3.5 percent and 3 percent in 2017-18: FM

11:32 AM: Rs 34,699 crore allocated for MNREGA scheme, focus will be on improving quality and effectiveness: Jaitley

11:31 AM: We will also launch the 'Atal pension yojana', which will provide a defined pension: Arun Jaitley

11:30 AM: A large portion of population is without insurance of any kind, I propose to work towards universal social security system for all: Jaitley

11:29 AM: To increase income of our farmers, we propose to create a national agriculture market: Finance Minister

11:28 AM: To support agricultural sector, I propose to allocate 25000 crore in 2015 to rural development fund: Jaitley

11:27 AM: Public investment of Rs 1.25 lakh crore over the and above the revised budgetary target: FM

11:26 AM: We need to cut subsidy leakage not subsidy themselves, says Arun Jailtey

11:25 AM: Will meet the fiscal deficit target of 4.1 percent of GDP this fiscal: FM

11:24 AM: Increase in agriculture productivity is essential for welfare for rural population, we should commit to increase irrigation area: Arun Jaitley

11:23 AM: We will achieve 3 percent fiscal deficit target in three years rather than two years: Finance Minister

11:22 AM: States to get in 2015-16 Rs 5.24 lakh crore or 42 percent of central taxes, up from Rs 3.38 lakh crore in the previous year: FM

11:21 AM: We have to aim to make India a manufacturing hub. Make in India programme is aimed at raising share of manufacturing in GDP and creating jobs: Jaitley

11:20 AM: Providing medical facilities to each one of village and city is essential: Arun Jailtey

11:19 AM: Roof for each family in India. To fulfill Housing by 2022, we must build 2 crore houses in rural India, 4 crore in urban areas: FM

11:17 AM: Embarked on GST and JAM Trinity to use bank accounts, Aadhar and Mobile number to transfer government benefits: Arun Jaitley

11:16 AM: We will move to amend the RBI Act this year to form Monetary Policy Committee, says Jaitley

11:15 AM: Coal bearing states will get several lakhs of crores of rupees as royalty following transparent auction process: FM

11:14 AM: Estimated GDP is 7.4 percent: Jaitley while presenting Budget

11:13 AM:
One of the achievement of my government has been is to conquer inflation: Finance Minister

11:12 AM:
We expect the CPI inflation to remain close to 5 percent towards the end of year: Arun Jaitley

11:11 AM: The three achievements of Government have been - PM's Jan Dhan Yojana, transparent auctions and Swachh Bharat Abhiyaan

11:09 AM: Finance Minister says objective is to improve quality of life and to pass benefits to common man

11:08 AM: People wanted that scam, scandal, corruption raaj should end: Jaitley

11:07 AM: With all humility, I submit that this opportunity has risen because we have created it, pitches Jaitley

11:06 AM: The rupee has become stronger by 6.4 percent: Finance Minister

11:05 AM: The latest CPI inflation is 5.1 percent and wholesale price inflation is negative: Arun Jaitley

11:04 AM: Jaitley says, “As the PM has mentioned many times - We are a round the clock, round the year Government”

11:04 AM: The credibility of Indian economy has been restablished, the world is predicting that it is India's chance to fly: Arun Jaitley in Lok Sabha

11:03 AM: Jaitley assures situation far more positive than previous years

11:01 AM: Finance Minister Arun Jaitley presents Union Budget 2015-16

10:57 AM: He must not forget poor states, entire nation's command is in his hand, says Bihar CM Nitish Kumar

10:55 AM: Apprised Finance Minister of problems Bihar is facing: CM Nitish Kumar

10:52 AM: Budget presentation to take place in few minutes

10:50 AM: Cabinet meet ahead of Budget ends

10:45 AM: Arun Jaitley briefs Cabinet in the meet

10:40 AM: Government can present good budget not because of any achievement but because oil prices have fallen: PC Chacko, Congress

10:35 AM: Security check of Union Budget papers underway in Parliament

10:32 AM: Finance Minister answers queries of ministers in the meeting

10:30 AM: Budget 2015-16 papers arrive in Parliament

10:28 AM:
It will be a progressive budget, will boost economic and development factors: MoS I&B Rajyavardhan Rathore

10:26 AM: Budget 2015 should address health, education & other aspects: AAP leader Dilip Pandey

10:19 AM: Cabinet meeting underway in Parliament ahead of Union Budget 2015-16

10:15 AM: PM Modi reaches Parliament

10:10 AM: It will be a roadmap for development, will fulfill people's aspirations: BJP leader Prakash Javadekar

9:55 AM: Jaitley to present Modi government's maiden Union Budget at 11 AM

9:46 AM: Arun Jaitley meets President Pranab Mukherjee ahead of Union Budget

9:44 AM: Finance Minister Arun Jaitley arrives at Parliament

9:38 AM: Jaitley leaves from President House for Parliament  

9:22 AM: Nifty up 70 points at 8916 today

9:21 AM: Sensex up 250 points at 29476 ahead of Budget

9:20 AM: Cabinet meeting to be take place around 10:15 AM for approval of the Union Budget

9:15 AM: Finance Minister Arun Jaitley reaches President House

9:00 AM: Finance Minister Arun Jaitley to present Narendra Modi-led Government's maiden Union Budget 2015-16 today

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