Union Budget 2019 

FM concludes Budget speech with a Hindi quote: Ek paav rakhta hun, hazaar raahein phoot padti hai, meaning one step opens up a thousand roads.No tax on notional rent on second self-occupied house and no tds on house rent up to Rs 2.4 lakh. FM adds, This is not just a budget but lays out the path to progress of the countryTDS threshold on rental income raised from 1.8 lakh to 2.4 lakh rupees: FMThat's all the middle-class, rather many upper-middle-class people were looking forwards to. If you have the right investments then people earning upto 9 lakhs may not have to pay any tax.Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equitiesFM raises standard deduction raised from Rs 40,000 to Rs 50,000.All interest income above Rs 40,000 from bank deposits will now get taxed and not Rs 10,000: PiyushNo tax on notional rent on second house: PiyushThe tax you pay will provide healthcare to 50 crore brothers, sisters and children: FMSome benefits must therefore also be passed on the middle class tax payers. Keeping this in view I propose to reduce the tax burden on tax payers. The salary earners, pensioners and senior citizens should not wait to get clarity on their taxes: FMRelief for middle class tax payers as salaried class with 5 lakh annual income given full rebate Piyush: India will lead the world in transport through electric vehicle (EV) and energy storage deviceFM: More than 1 crore people filed IT returns for the first time, after #demonetization
#Budget2019We are poised to become a 5 trillion dollar economy in the next 5 years and we aspire to become a 10 trillion dollar economy in the next 8 years: FMCost of data and voice calls in India is now possibly the lowest in the world; mobile and mobile part manufacturing companies have increased from 2 to 268: PiyushElectric vehicles is a national security necessity. Crude import is a security threat as well. So, India needs to take a leap asap.The government is laying out the vision for the most important dimensions for the next 10 years to make India a Rs 10 lakh crore economy and enhance ease of living including development of roads, railways, seaports, health, among other things.Demonetisation Wiped out black money: PiyushFM: We are poised to become Rs 5 lakh crore in the next 5 yearsNo hope for working class: Despite high speculation, no changes in tax slabs and no investment incentives for salaried investors and tax payersFM's talk on anti-Blackmoney measures met with boos from the oppositionMore savings for common man as gratuity limit raised to 20 lakhsFM: GST burden on homebuyers to reduce. So we have requested the GST Council to set up a group of ministers who will now work out how to reduce the burden on homebuyers.Piyush: 99.54% returns have been accepted without any scrutinyWithin next 2 years, almost all income tax verification and assessment of returns selected for scrutiny will be done electronically. Anonymous back office without any interface between tax paper and IT officials.Most items of daily use are now in the 0-5% slab making GST beneficial for the middle classLower income tax burden and no direct dealing with the tax man in a couple of years.FM: Reducing tax for the middle class has been our priorityOut Govt implemented GST the biggest taxation reforms. India became one common market: FMDigital scrutiny of tax files. IT returns will be processed same day and refund simultaneously: FMFM hints at Simplification of direct tax systemIndian filmmakers will now get single window clearance for shoot: FMFM: Indian Railways operating ratio to improve to 95% for 2019-20 from 96.2% in 2018-19.The operating ratio of Railways is seen at 96.2% in FY19 and 95% in FY20.

1. India has achieved over 98% rural sanitation coverage.
2. 5.45 lakh villages declared #ODF
3. #SwachhBharat now a national movement

Piyush: Our commitment to promote renewable energy is reflected in our initiative to set up International Solar Alliance; installed solar generation capacity has increased 10 times in last five years; lakhs of new jobs being created by the sectorInstalled solar generation capacity in India increased by 10 times in the last 5 years.Market Surge On Global Cues, Healthy Q3 Results: Sensex Up 665 pts

Short-covering ahead of the monthly derivatives expiry along with a dovish US Fed outlook and healthy large-cap quarterly earnings result pushed the barometer BSE Sensex higher by 665 points on Thursday.

The NSE Nifty finished past the 10,800-mark gaining 180 points.

Investors' sentiments were buoyed as global markets surged after the US Federal Reserve decided to keep the interest rates unchanged.

Consequently, the S&P BSE Sensex closed 665.44 points higher at 36,256.69, while the broader Nifty finished at 10,830.95, up 179.15 points.

"US Fed's decision to keep the interest rates unchanged is good for the emerging markets. Investors are also upbeat owing to the healthy Q3 results by large caps," Rusmik Oza, Head-Fundamental Research, Kotak Securities, told IANS.

"...also the short covering ahead of the F&O expiry due later in the day gave a push to the markets."

Oza said the upcoming interim Budget may not have a material impact on the markets because "it would just be announcements. Investors will focus on the July budget, which will be of much greater importance".

Shares of IT companies led the gains as BSE IT index rose over 2 per cent. Key sectors banking, finance as well as oil and gas stocks also surged over 1 per cent.

Axis Bank led the gains on Sensex, gaining 4.64 per cent followed by Tata Motors, Tata Motors (DVR), Infosys and Reliance Industries.

The day's trade saw only 5 stocks ending lower -- Yes Bank, HCL Tech, Bajaj Finance, ICICI Bank and Coal India.

FM announces Defence Budget increase to Rs 3 lakh crore.Domestic air passenger traffic has doubled in the last 5 years: FMPiyush says Rs. 1 crore loan can now be obtained under 59 minutes!FM: To ensure cleaner fuel and health assurance, our govt embarked on PM Ujjwala Yojana, a programme to give 8 crore free LPG connections to rural households, out of which 6 crore connections have been givenWe had promised to implement One Rank One Pension. We have already disbursed over Rs 35,000 crore after implementing the scheme in true spirit: FM on defence sectorPension scheme to benefit 10 crore workers in the unorganised sector. Those who join at 18 years of age will have to contribute a mere Rs 55 per month. The government will contribute equal matching share in the pension account.

FM: loans worth Rs 7.23 lakh crore given under the Mudra yojana with more than 70% of beneficiaries being women

FM hints at comprehensive social security coverage for 42 crore workers in unorganised sector

Workers who receive grievous injuries will now get Rs 6 lakh from Rs 2.5 lakh through EPFOOver 1 crore youth given skill based training6 crore free LPG connections given: FMInstead of rescheduling of crop loans, those farmers severely affected by natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment: FMFinance minister Piyush says that 2% interest subvention to farmers pursuing animal husbandry and fisheriesFM: ESI eligibility cover limit raised to Rs 21,000 per month from Rs 15,000 per monthNew Pension Scheme - employee's contribution is 10%, government's contribution increased from 10% to 14%.12.5 crore farmers to be covered under direct income support - PM Kissan.  Annual cash benefit of Rs 6000 (to be paid in three tranches) per head. The total outlay is only 0.4% of GDP.Piyush: Rs 1,70,000 crore spent on bringing food at affordable rates to poor peopleFMCG stocks rally with the farmer support announcements.
Marico, HUL, ITC up 1-2%.Stock of Mahindra & Mahindra, the market leader in tractors, is up nearly 2% on the BSE while that of Hero Motocorp the market leader in two-wheelers, stock is up by 3.35%.If direct transfer does indeed happen, then 12 crore farmers will benefit from itFM: In 2014, 2.5 crore families were living without electricity, forced to live in the 18th century. We have achieved almost 100% electrificationFM: One million people were treated so far under Ayushman Bharat. Have announced 14 new AIIMS since 2014.Farmers owning upto 2 hectares to get Rs 6,000 per year: FMPiyush: Kisan yojana will be effective December 1, 2018, and the money will be directly transferred into their account. Expect spend of Rs 75,000 crore on this schemeSmall and fragmented land holding has led to decline in farm income. To provide support to small and marginal farmers and improve their income the Pradhan Mantri Kisan Samman Nidhi yojana has been introducedMSP in favour of hardworking farmers Keeping in view the distress in farm sector: FMOur govt's farmer-friendly policies have helped agriculture continue to be a major driver of Indian economy: FMPiyush Goyal: PMGSY allocation Rs 19,000 crore, same as budgeted for 2018-19. Rs 1,70,000 crore spent on bringing food at affordable rates to poor peoplePiyush Goyal's budget speech sounds like a BJP political campaign. Is there something in store?Piyush: kids will no longer have to walk from home to school in rural areas. They will now have a bus service therePradhan Mantra Gram Sadak Yojana allocation is set at Rs 19,000 crore: FMPiyush Goyal says Auto stocks firm, market appears to be betting on a likely farm package boosting demand for automobiles.Piyush: India achieved over 98% rural sanitation coverageRERA has helped bring transparency in the real estate sector: FMAnti poverty programmes: Reservation for the economic backward says PiyushSpent Rs2.6 lakh crores in recapitalisation of PSU banks; recovered Rs3 lakh crores via IBC process: PiyushPiyush: We have noticed that Bank of India, Bank of Maharashtra and Oriental Bank have come out of the PCA framework and our efforts to clean up the banking system will help others too very soonFM says Rs 3 lakh crore recovered by banks through IBC. He adds that Bigger businessmen also concerned about repaying debt.FM outlines Modi's achievments saying 'we have walked the talk' BJP's poll pitch?FM says Our government had the power to ask RBI to review the NPA situation of banks and stop the culture of phone bankingOpposition boos Piyush Goyal's remark that farmer incomes have doubled.If we had not controlled inflation, our families would have been spending 35-40% more on basic amenities today, says GoyalLowest #Inflation than any other government #UnionBudget2019: FMWe contained double digit inflation and maintained fiscal balance @PiyushGoyal #UnionBudget2019"We have reversed the policy paralysis," says Piyush Goyal as he rises to present the Interim Budget, "India is solidly back on track."Piyush Goyal Begins Budget Speech amid uproarGovt sources have been sending budget pointers to media houses, now if these pointers are there in FM's speech then it tantamounts to a leak. It would be a serious issue of breach of secrecy: Manish Tewari, Congress Union Minister of Parliamentary Affairs Narendra Singh Tomar: 'Sabka Saath, Sabka Vikas' has been our government's mantra and it will reflect in the Budget.

Interim finance minister Piyush Goyal is all set to present the Union Budget 2019. The interim budget is expected to start at 11 am on Friday. Here are live updates from Union Budget 2019 presented by Piyush Goyal.

Equity Indices Open In Green

Mumbai: The Indian equity indices opened on a positive note ahead of the interim budget on Friday, with the BSE Sensex gaining over 100 points.

Healthy buying has been witnessed in the auto and capital goods stocks so far.

At 9.19 a.m., the Sensex traded at 36,378.91, higher by 122.22 points or 0.34 per cent from the previous close of 36,256.69 points.

It had opened at 36,311.74, and so far touched an intra-day high of 36,387.84 and a low of 36,261.95 points.

The Nifty50 on the National Stock Exchange traded at 10,850.65, higher by 19.70 points or 0.18 per cent from the previous close of of 10,830.95 points.