Face of Nation : Finance Minister Nirmala Sitharaman is presenting the first budget of the second term of Prime Minister Narendra Modi’s government. This is also be the first budget for Ms Sitharaman, India’s first full-time woman finance minister. She is presenting the full-year budget for the year ending March 2020. The Budget speech began at 11:00 am with Ms Sitharaman beginning it with an address to the speaker of Lok Sabha. Usually the duration of the presentation ranges from 90 to 120 minutes. The budget is widely expected to boost spending and provide tax relief in the much-anticipated Union Budget. Before she presents the Budget, Ms Sitharaman briefed President Ram Nath Kovind. She did not pose with the iconic briefcase, like her predecessors. In a departure from tradition, she was seen holding a red folder enclosed with a string and emblazoned with the Ashoka symbol, which was described by officials as the “bahi khata“.
Sensex falls over 100 points, Nifty below 11,950 as Finance Minister Nirmala Sitharaman presents Budget.
Blueprint for a national gas grid, water grid, i-ways and airports to be unveiled
Union Budget 2019 LIVE: Nirmala Sitharaman In Parliament
- As world’s third largest aviation market, time ripe to enter aircraft financing and leasing from Indian shores.
- 657 km of metro rail network has become operational across country
Budget 2019: PM Modi In Parliament
“It took India 55 years to reach a $1 trillion economy. When hearts are with hopes and aspirations, we added $1 trillion in just five years. The common man was served even when transformational reforms were laid out. We have to invest heavily in infrastructure. Citizens felt the difference in every nook and corner. Our focus has been mazboot desh ke liye mazboot nagrik (strong citizens for a strong nation),” Nirmala Sitharaman said.
Nirmala Sitharaman begins presenting the budget.
PM Modi has reached parliament
Copies of Budget 2019 papers have been brought to parliament. Finance Minister Nirmala Sitharaman will begin her budget presentation in 30 minutes. The Finance Minister, say economists, needs to announce measures that spur growth without straining expenditure. In its economic survey yesterday, the government predicted that the economy will rebound and grow at 7 per cent this year, while outlining plans on how to double its economy by 2025 to $5 trillion.
Equity benchmark indices ruled strong during this morning ahead of the highly-anticipated Union Budget for 2019-20. Sensex and Nifty came off intraday highs and were trading flat ahead of Budget speech which is due to begin at 11:00 am. Gains in HDFC, Larsen & Toubro, HDFC Bank, Kotak Mahindra Bank, Reliance Industries and State Bank of India were offset by losses in ONGC, ITC, Yes Bank, NTPC and Vedanta.
Nirmala Sitharaman and Anurag Thakur have left Rashtrapati Bhavan after briefing the President.
“I hope many of the ideas from the economic survey will find place in the budget. This is not my first budget. I have already been part of the interim budget. I anticipate the budget to be a good one,” Chief Economic Adviser KV Subramanian said.
As per tradition, Finance Minister Nirmala Sitharaman meets President Ramnath Kovind before presenting the Union Budget.
The middle-class tax payers may have a lot to cheer about in the Budget proposals to be presented by Finance Minister Nirmala Sitharaman today. News agency IANS quoted sources as saying that the Budget will take the sops announced in the interim Budget further by raising the basic tax exemption limit for an ndividual income tax payee to Rs. 3 lakh from Rs. 2.50 lakh at present to cover for the inflationary impact over the years.Finance Minister Nirmala Sitharaman did not pose with the iconic briefcase, like her predecessors. In a departure from tradition, she was seen holding a red folder enclosed with a string and emblazoned with the Ashoka symbol, which was described by officials as the “bahi khata”.
Nirmala Sitharaman, Anurag Thakur and Finance Ministry officials posed for the cameras outside the Finance Ministry office.
Nirmala Sitharaman briefs President Ram Nath Kovind.
Cabinet meet in Parliament House.
Nirmala Sitharaman presents the Budget in parliament.
Nirmala Sitharaman will address a post-Budget press conference along with Anurag. Thakur, Secretaries of the Finance Ministry and Chief Economic Adviser KV Subramanian.
Budget 2019: Nirmala Sitharaman At Finance Ministry
Personal income tax threshold for certain categories may be raised
Spending on agriculture, healthcare and social sectors are likely to be increased
Finance Minister Nirmala Sitharaman has reached the Finance Ministry.
