1 February 2020, 17:19 PM
Talking about the agrarian sector, the PM said that Union Budget 2020 will help in doubling farmers' income.
1 February 2020, 17:19 PM
Budget will give new energy to youth in country by promoting startups - Prime Minister Modi.
1 February 2020, 17:18 PM
Prime Minister Narendra Modi said that the tax payer charter announced in Budget will clarify rights of tax payers. He added, ''Skill sets needed for the development of a modern and New India have been focussed.''
1 February 2020, 17:18 PM
While stating that India will now move to become a key member of the global value chain, the PM said that the skill development of the youth has also been stressed upon in the Union Budget.
1 February 2020, 17:17 PM
New reforms announced in Budget will give push to economy. Govt has announced many measures in Budget to push employment in country : Prime Minister
1 February 2020, 17:17 PM
''I congratulate Finance Minister Nirmala Sitharaman and her team for presenting the first Budget of the decade that has vision as well as action,'' said PM.
1 February 2020, 17:16 PM
Hailing the Union Budget 2020 presented by Union Finance Minister Nirmala Sitharaman in Parliament on Saturday (February 1), Prime Minister Narendra Modi said that the government has announced several measures to give a boost to economy.
1 February 2020, 16:26 PM
The government has approved a budgetary allocation of Rs 11,500 crore for Jal Jeevan Mission for the year 2020-21.
1 February 2020, 16:24 PM
The government does not believe in reforms and certainly not in structural reforms. The FM has outright rejected every reform idea contained in the Economic Survey. Did the FM read the Economic Survey? Was the Chief Economic Adviser privy to the contents of the Budget speech? I think the answer to both the questions is in the negative: Congress leader Chidambaram
1 February 2020, 16:21 PM
If a small part of Life Insurance Corporation (LIC) goes to the public it will increase transparency & accountability, after all it is public's property, I don't think there is any harm if a small part of it is with the people: Union Minister of Commerce and Industry, Piyush Goyal
1 February 2020, 16:20 PM
It is a balanced Budget that prepares India for the decade ahead of us &prepares it to be a 5 trillion dollar economy. It also covers a vast canvas both on the social side, on economic development&ensures that we continue to remain an economic powerhouse: Union Minister Piyush Goyal
1 February 2020, 16:19 PM
It is for the first time in this country that such significant and bold reforms have been introduced in Budget in order to deepen the bond markets: FM Sitharaman
1 February 2020, 16:15 PM
I would wait for a full working day at the stock market. Not sure if every aspect of the market was open today. We will wait for Monday. I am confident that when the market opens on Monday, we will see a positive reaction: FM Sitharaman on Sensex crashing 1,000 points
1 February 2020, 16:13 PM
The Central Bureau of Investigation got Rs 802 crore in the Budget 2020, a token increase of just about Rs 4 crore.
1 February 2020, 16:12 PM
I agree that my budget speech was lengthy but in the speech, I had focussed on and spoken about the schemes for employment for the youth, as well as benefits to them: FM Sitharaman
1 February 2020, 16:12 PM
The government allocated Rs 2,826.92 crore as sports budget for the next financial year, up a mere Rs 50 crore from the revised estimates of 2019-20.
1 February 2020, 16:11 PM
To improve consumption demand, private investment and public spending and since revenue side could not be pressed further, without violating Fiscal Responsibility and Budget Management, we had to relax fiscal deficit target by 0.5%: Sitharaman
1 February 2020, 15:46 PM
Budget 2020 live: Employer contribution to EPFO will remain as exemption in new tax regime, says Sitharaman
1 February 2020, 15:41 PM
We had announced some things earlier for the sector. We had announced that stalled projects need to be completed and will be given last-mile funding. Now, we have extended the date by one year: Sitharaman on real estate sector
1 February 2020, 15:40 PM
Budget provides e-commerce operators to deduct TDS on all payments to e-commerce participants at 1% with PAN/Aadhaar, 5% in non-PAN/Aadhaar.
1 February 2020, 15:37 PM
In India, the personal income tax rate regime should be simple and rates should be low: Sitharaman
1 February 2020, 15:36 PM
New income tax rates only on giving up exemptions under Section 80C, 80D, LTC, HRA among others.
1 February 2020, 15:35 PM
Finance Minister Nirmala Sitharaman on option of lower income tax rates: We wanted to place money in the hands of the people, particularly the middle class and lower middle classes. We also wanted to simplify income tax process and increase compliance.
1 February 2020, 15:29 PM
In budget, Modi govt has taken effective steps to rationalize tax system, boost basic infrastructure, strengthen banking system, promote investment and ease of doing business, which will further Modi govt’s resolve to make India a US$ 5 trillion economy: Union Home Minister Amit Shah
1 February 2020, 15:25 PM
Budget 2020: Aid to countries by India (Figures in crore)
Bhutan: Rs 2884.65
Mauritius: Rs 1025
Nepal: Rs 800
African countries:Rs 350
Maldives, Myanmar: Rs 300
Afghanistan, Sri Lanka: Rs 200
Seychelles:Rs 140
Latin American countries: Rs 20
Increase in Aid by India to
--Bangladesh: increase of Rs 50 cr --Myanmar: increase of Rs 170 cr --Seychelles: an increase of Rs 90 cr
Decrease in Aid by India to
--Nepal: Cut of Rs 400 cr
--African countries: Cut of Rs 100 Cr
--Mauritius: Cut of Rs 75 cr
--Maldives: Cut of Rs 26 cr
--Sri lanka: Cut of Rs 5 cr
1 February 2020, 15:24 PM
The Centre has allocated over Rs 238 crore to the Personnel Ministry for the next financial year for training of bureaucrats and augmenting necessary infrastructure.
1 February 2020, 15:21 PM
Budget 2020 live: Sensex falls over 1000 points, Nifty down by 380 points.
1 February 2020, 15:17 PM
Finance Minister Nirmala Sitharaman proposed to impose a nominal health cess on import of medical equipment to boost the domestic medical devices sector and generate resources for health services. The proceeds from this cess shall be used for creating infrastructure for health services in the aspirational districts, she added.
1 February 2020, 15:02 PM
Finance Minister Nirmala Sitharaman announced that the defence budget was increased by six per cent to Rs 3.37 lakh crore against last year's Rs 3.19 lakh crore.
1 February 2020, 14:57 PM
For modernisation and buying new weapon systems, defence forces allocated Rs 1,10,734 crore, Rs 10,340 crore more than what was provided in last year’s Budget.
1 February 2020, 14:53 PM
Delhi had high expectations from Budget, but step-motherly treatment meted out to it again. Delhi does not figure in BJP's priorities. Why should people vote for it: Delhi CM Arvind Kejriwal
1 February 2020, 14:50 PM
Finance Minister Nirmala Sitharaman cut short her Budget speech as she felt unwell after speaking for a record 160 minutes in Lok Sabha. Sitharaman had only two pages of her Budget speech unread when she decided to end her speech abruptly.
1 February 2020, 14:47 PM
I congratulate Prime Minister Modi and Finance Minister Nirmala Sitharaman for this development oriented and pro-farmer budget. This Budget will further strengthen the economy: Uttar Pradesh Chief Minister Yogi Adityanath:
1 February 2020, 14:04 PM
The main issue facing is unemployment. I didn't see any strategic idea that would help our youth get jobs. I saw tactical stuff but no central idea. It describes govt well, lot of repetition,rambling-it is mindset of govt, all talk, but nothing happening: Congress leader Rahul Gandhi
1 February 2020, 13:52 PM
Nirmala Sitharaman concludes her Budget speech. She spoke for over 2.5 hours and ends it for the day. The Lok Sabha has been adjourned for now.
1 February 2020, 13:46 PM
Customs duty on footwear and furniture is being raised. Make in India is giving dividends. Have made progress in medical equipments too Government will provide health services to all. A health cess will be imposed on import of medical equipment: FM Sitharaman
1 February 2020, 13:44 PM
Exemptions from customs duty has been given in public interest from time to time. On review, some exemptions are being withdrawn. Rest will be reviewed after September 2020: Sitharaman
1 February 2020, 13:40 PM
Income Tax Act to be amended to allow faceless appeals against tax orders on lines of faceless assessment.
1 February 2020, 13:38 PM
GST rate is being deliberated upon. Ease of doing business has improved in India. Undue claims of FTA benefits has been a concern: FM Sitharaman
1 February 2020, 13:35 PM
ST reforms will continue including a simplified return-filling form. Refund has been simplified and has been fully automated. Aadhaar-based taxpayer verification will be done: Sitharaman
1 February 2020, 13:34 PM
I-T Act will be amended where CBDT will be mandated the taxpayers charter. Further, PAN will be instantly online on the basis of Aadhaar without filling any forms. Personal income tax is now at lowest level: Sitharaman
1 February 2020, 13:30 PM
FM Nirmala Sitharaman announces 'Vivad se Vishwaas Scheme'. She said that a total of 4.83 direct tax cases are ending in various forums so a new direct tax dispute settlement should be done under this scheme. No penalty will be charged if taxpayers pay by March 31, 2020. Here, only disputed tax amount has to be paid.
1 February 2020, 13:30 PM
To boost startups, tax burden on employees due to tax on Employee Stock Options to be deferred by five years or till they leave the company or when they sell, whichever is earliest: FM Sitharaman
1 February 2020, 13:29 PM
Finance Minister Nirmala Sitharaman proposes 100% tax concession to sovereign wealth funds on investment in infrastructure project.
1 February 2020, 13:28 PM
To ease deduction donation it is proposed to pre-fill information of those donating. This will result in hassle free claims for the individuals claiming tax exemptions: Sitharaman
1 February 2020, 13:27 PM
Concessional 5% withholding tax has been extended to municipal bonds. Cooperatives are taxed at 30 percent now. FM says cooperatives can choose a 22 percent tax with 10 percent surcharge and 4 percent cess with no exemptions: Sitharaman
1 February 2020, 13:26 PM
Corporate tax cut will be available for power generation companies as well. Government will grant 100% exemptions for sovereign wealth funds in infrastructure and other notified sector with minimum lock-in of three years. The rate of withholding tax has been extended to 2023 for FPIs: Sitharaman
1 February 2020, 13:24 PM
Dividend distribution tax (DDT) abolished. Companies will no longer be required to pay DDT. A total of Rs 25,000 crore is revenue foregone due to DDT abolition. This will make India an attractive investment destination: Sitharaman
1 February 2020, 13:15 PM
There will be a significant reduction in tax paid even by those having Rs 15 lakh. But the new tax regime will be optional. A total of Rs 40,000 crore a year will be revenue foregone per year: Sitharaman
1 February 2020, 13:14 PM
Here are the new tax slabs announced by Finance Minister Nirmala Sitharaman:
For income upto Rs 5 lakh: No tax
Rs 5-7.5 lakh: 10% (reduced from previous 20%)
Rs 7.5-10 lakh: 15% (reduced from previous 20%)
Rs 12-15 lakh: 25%
Rs 15 lakh: 30%
