Budget 2019 Live Streaming: FM Goyal announces full tax rebate for income up to Rs 5 lakh

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  • Feb 01, 02:02 PM (IST)
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    Feb 01, 01:48 PM (IST)

    Krishna Karwa, Research Analyst at Moneycontrol analyses how the Budget announcement in the consumption space affected sentiment

    Higher disposable incomes will also augur well for Future Consumer, a leading retailer of FMCG products, The stock is 5 percent up, in tandem with the upmove seen in FMCG stocks

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    Feb 01, 01:48 PM (IST)

    The Budget fine print shows financial support of Rs 384 crore has been provided to MTNL. The stock is up about 1 percent at Rs 13.9 a share.

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    Feb 01, 01:44 PM (IST)

    Investment by households is also a significant contribution to the capex cycle. That part of the capex cycle has got a stimulus in this Budget, says Vetri Subramaniam of UTI AMC

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    Feb 01, 01:40 PM (IST)

    The Budget has proposed new expenditures pressuring fiscal consolidation efforts, according to Moody’s

    Moody’s believes continued slippage on fiscal deficit is credit negative for the Sovereign.

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    Feb 01, 01:35 PM (IST)

    An analysis on how the Budget impacted the auto sector by Nitin Agrawal, senior analyst at Moneycontrol
    Auto share are spiking today on the back of the announcement of the tax benefits to middle class taxpayers that would lead to an increase in disposable income and hence discretionary consumption.

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    Feb 01, 01:32 PM (IST)

    Here’s a quick review of the income tax relief announced by FM Goyal to clear any confusions over whether it was an exemption or rebate 

    The rebate under Section 87A of the Income Tax Act has been enhanced to Rs 12,500 from Rs 2,500 earlier. The threshold has also been enhanced to income of Rs 5 lakh from Rs 3.5 lakh earlier. This will benefit taxpayers only to the extent of an annual income of Rs 5 lakh. The basic exemption limit and tax-slabs remain the same.

    What this means is the benefit is applicable only to those whose earnings are under Rs 5 lakh but not more than that. Also,  those earning less than Rs 5 lakh will have to pay tax initially and seek a rebate while filing their returns.

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    Feb 01, 01:22 PM (IST)
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    Feb 01, 01:22 PM (IST)

    There has been a lot of confusion on the income tax measures announced. Moneycontrol’s review of the Finance Bill suggest

  • Feb 01, 1:16 PM (IST)

    DEA Secy Garg said the roll-out of farm income support scheme starts in November. He pointed out that this scheme does not include those getting government support.

  • Feb 01, 1:16 PM (IST)
  • Feb 01, 1:14 PM (IST)

    Measures for the salaried class will be effective April 1, Subhash Chandra Garg, Economic Affairs Secretary told CNBC-TV18.

    The revenue loss from the change in income taxes will be roughly Rs 24,000 crore, he said.

  • Feb 01, 1:11 PM (IST)
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    Feb 01, 01:02 PM (IST)

    Budget is unquestionably pro-growth and fiscally prudent, says Union Minister Arun Jaitley

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    Feb 01, 12:58 PM (IST)

    In terms of new highs the market is making and the improving breadth I won’t be surprised if we tested new highs before general elections, Ramesh Damani tells CNBC-TV18

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    Feb 01, 12:56 PM (IST)
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    Feb 01, 12:56 PM (IST)

    Consumption to GDP ratio in India is extremely low and taxes had slowed down consumption. The tax moves announced today will be significant in reviving consumption, says HDFC’s Deepak Parekh

  • Feb 01, 12:50 PM (IST)
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    Feb 01, 12:46 PM (IST)

    Sensex gives a 300-point salute to the raft of announcements, as the market expects an uptick in consumption. Will the Budget be enough to put this market in firm bull market territory? Time will tell. – Nazim Khan, Senior Editor.

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    Feb 01, 12:45 PM (IST)

    Notional rent on unsold real estate inventory – Tax to be levied after 2 years from date of completion of project. Previously, it was 1 year. Real estate stocks such as Oberoi Realty, Godrej Properties, Sunteck Realty, HUDCO rally. – Krishna Karwa, Research Analyst.

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    Feb 01, 12:44 PM (IST)

    Goyal concludes his Budget speech with the quote, ” Ek paav rakhta hun, hazaar raahein phoot padti hai.” which literally means one step opens up a thousand roads.

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    Feb 01, 12:44 PM (IST)
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    Feb 01, 12:44 PM (IST)

    Also, this Budget shows NDA’s desperation. This probably the best way to gain back trust of the voters. Or, if the coin flips (by chance), the next Government will have a really tough time to live up to all the promises the Modi Govt is making right now. – Sounak Mitra – Associate Editor.

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    Feb 01, 12:41 PM (IST)

    Arun Jaitley might be missing all the fun while Piyush Goyal is cutting the cake that he (Jaitley) baked. – Sounak Mitra – Associate Editor.

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    Feb 01, 12:40 PM (IST)

    This is not just a budget but lays out the path to progress of the country, he says

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    Feb 01, 12:40 PM (IST)

    TDS limit hiked from Rs 10,000 to Rs 40,000 on Post-Office savings.

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    Feb 01, 12:40 PM (IST)
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    Feb 01, 12:39 PM (IST)

    No tax on notional rent on second self-occupied house and no tds on house rent up to Rs 2.4 lakh

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    Feb 01, 12:38 PM (IST)

    FM raises standard deduction from Rs 40,000 to Rs 50,000.

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    Feb 01, 12:37 PM (IST)

    All interest income above Rs 40,000 from bank deposits will now get taxed and not Rs 10,000

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    Feb 01, 12:36 PM (IST)

    Income upto Rs 5,00,000 to be exempt from income tax, to boost consumer spending. Positive for FMCG stocks and auto stocks. – Ruchi Agrawal – Senior Research Analyst.

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    Feb 01, 12:35 PM (IST)

    Standard deduction has also been raised to Rs 50,000 from Rs 40,000

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    Feb 01, 12:35 PM (IST)

    So those with income up to Rs 5 lakh and another Rs 1.5 lakh in investments totalling Rs 6.5 lakh will have to pay no tax. Will benefit nearly Rs 3 crore middle class income earners

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    Feb 01, 12:35 PM (IST)

    Piyush Goyal serves the whole thaali….and keeps the dessert for the end…….#TaxRebate….. – Viju Cherian – Opinion Editor

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    Feb 01, 12:34 PM (IST)

    That puts Rs 12,500 per annum in people’s pockets—more than Rs 1,000 per month, more than double what the farm package gives to small and marginal farmers. – Manas Chakravarty, Group Consulting Editor.

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    Feb 01, 12:34 PM (IST)
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    Feb 01, 12:34 PM (IST)

    It finally comes. From ‘Thank you tax payers’, to doubling the slab for tax rebate. Now, tax payers would say: “Thank you Mr FM”. – Sounak Mitra – Associate Editor.

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    Feb 01, 12:33 PM (IST)

    Govt announces tax exemption for income up to Rs 5 lk/yr: FM

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    Feb 01, 12:32 PM (IST)

    The shortest interim Budget was given by HM Patel in 1977. This could be the longest. – Prince Thomas, Corporate Bureau Chief.

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    Feb 01, 12:31 PM (IST)

    Individual tax payers with taxable annual income up to Rs 5 lakh will get full tax rebate

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    Feb 01, 12:30 PM (IST)

    Some 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, he said

  • Feb 01, 12:29 PM (IST)

    Goyal thanks taxpayers for their contribution toward the well being of the society and providing basic amenities to the poor. “The tax you pay will provide healthcare to 50 crore brothers, sisters and children,” he says

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    Feb 01, 12:28 PM (IST)

    Confident of reaching Rs 80,000 Cr divestment target: FM

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    Feb 01, 12:27 PM (IST)

    Will focus on debt consolidation along with fiscal consolidation, says Goyal

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    Feb 01, 12:27 PM (IST)

    Confident of reaching Rs 80,000 crore divestment target, says Goyal

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    Feb 01, 12:27 PM (IST)

    From ‘what we have done’ Budget, it has suddenly turned into a ‘Dream Budget’ — all about dreams and wishes towards 2030. – Sounak Mitra – Associate Editor.

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    Feb 01, 12:26 PM (IST)

    In Piyush Goyal’s Budget, there’s place for everybody — Kissan, Jawan, Gau mata, and even the traders. But, not the income-tax paying salaried class. Well, they don’t figure in the scheme and theme of Election. – Sounak Mitra – Associate Editor.

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    Feb 01, 12:26 PM (IST)

    Expenditure target for FY20 is at Rs 27.84 lakh crore and FY20 fiscal deficit target is at 3.4%

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    Feb 01, 12:24 PM (IST)

    Expenditure target for FY20 at Rs 27.84 lakh cr: FM Goyal.

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    Feb 01, 12:24 PM (IST)
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    Feb 01, 12:23 PM (IST)

    FM sets FY20 Fiscal Deficit target at 3.4%.

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    Feb 01, 12:22 PM (IST)

    Vision statement: As Keynes said, in the long run we are all dead – Manas Chakravarty, Group Consulting Editor.

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    Feb 01, 12:22 PM (IST)

    See India as a modern, technology-driven, high growth and transparent society as part of Vision 2030

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    Feb 01, 12:22 PM (IST)

    Micro irrigation schemes to be given attention – allocation amounts awaited – allocations to be positive for Jain irrigation, KSB pumps, Kirloskar brothers and Shakti pumps. – Ruchi Agrawal – Senior Research Analyst.

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    Feb 01, 12:21 PM (IST)

    “India will lead the world in transport through electric vehicle (EV) and energy storage devices”, FM said.

    Several international automotive companies like Suzuki, Nissan, Hyundai, Toyota, Renault are lining up multiple EV launches through direct imports as well as giving a boost to local manufacturing of EV. – Swaraj Baggonkar – Senior Assistant Editor.

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    Feb 01, 12:20 PM (IST)

    Placing an Indian astronaut in space by 2022 is also a part of Vision 2030

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    Feb 01, 12:19 PM (IST)
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    Feb 01, 12:18 PM (IST)

    Electric vehicles a key part of govt’s vision for 2030: FM

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    Feb 01, 12:18 PM (IST)

    Fisheries stocks – Apex Frozen, Avanti Feeds, Waterbase have declined after initial surge on interest subvention announcement. Allocation amount for schemes awaited. – Anubhav Sahu – Principal Analyst.

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    Feb 01, 12:18 PM (IST)

    Making India digital will also play the most important role in achieving the vision. Goyal says, adding the third dimension will be making India pollution free. Making renewables a major source of energy supply and promoting electric vehicles will help, he says

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    Feb 01, 12:16 PM (IST)

    Aspire to become $10 Tn economy in next 8 years thereafter: Goyal

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    Feb 01, 12:15 PM (IST)

    The government is laying out the vision for the most important dimensions for the next 10 years to make India a $10 trillion economy and enhance ease of living including development of roads, railways, seaports, health, among other things.

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    Feb 01, 12:15 PM (IST)

    India poised to become $5 Tn economy in next 5 Years: FM

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    Feb 01, 12:13 PM (IST)
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    Feb 01, 12:13 PM (IST)

    We are poised to become $5 trillion economy in the next 5 years, says Goyal

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    Feb 01, 12:13 PM (IST)

    The plea by Hero Motocorp, Bajaj Auto and TVS Motors to bring two-wheelers under the 18% GST slab from 28% GST slab seems to have gone unheeded. – Swaraj Baggonkar – Senior Assistant Editor.

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    Feb 01, 12:11 PM (IST)

    Despite high speculation, no changes in tax slabs and no investment incentives for salaried investors and tax payers. – Nayanika Chakraborty – Senior News Co-ordinator.

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    Feb 01, 12:09 PM (IST)
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    Feb 01, 12:08 PM (IST)
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    Feb 01, 12:07 PM (IST)

    Our govt wants 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.

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    Feb 01, 12:06 PM (IST)

    Most items of daily use are now in the 0-5% slab making GST beneficial for the middle class

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    Feb 01, 12:04 PM (IST)

    Reducing tax for the middle class has been a priority, he says.

  • Feb 01, 12:02 PM (IST)
  • Feb 01, 12:02 PM (IST)

    Here is how production of various crops and pulses fared under Modi government

    From the MSP of rice and wheat to the area under cultivation for pulses, see how the Modi government has influenced key agricultural indicators.

  • Feb 01, 12:01 PM (IST)

    Unmanned system to be created for scrutiny of income tax returns.

  • Feb 01, 12:01 PM (IST)

    He now talks about Direct and Indirect Tax reforms

  • Feb 01, 12:01 PM (IST)

    99.54% returns have been accepted without any scrutiny: FM

  • Feb 01, 12:01 PM (IST)

    All income tax returns to be processed within 24 hours and refunds to be issued simultaneously: FM

  • Feb 01, 12:01 PM (IST)

    Direct tax collections from 6.38 lakh crore rupees in 2013-14 to almost 12 lakh crore rupees; tax base up from 3.79 crore to 6.85 crore: FM

  • Feb 01, 12:01 PM (IST)

    Tax scrutiny will also now be done electronically and there will be no interaction between the tax authority and the taxpayer.

  • Feb 01, 12:00 PM (IST)

    Simplification of direct tax system will benefit taxpayers; direct tax reduced and tax interface made simpler and faceless to make life easier; resulting in increase in tax collections and return filings: FM

  • Feb 01, 12:00 PM (IST)

    Tax collections have increased significantly. The number of returns filed have also risen: FM

  • Feb 01, 11:59 AM (IST)

    In the last 5 years under all categories of workers, minimum wages increased by 42% which is the highest ever : FM

  • Feb 01, 11:59 AM (IST)
  • Feb 01, 11:59 AM (IST)

    Tax collections have increased significantly from Rs 6.38 lakh crore in FY14 to almost Rs 12 lakh crore in FY19 with nearly 80% growth in the number of taxpayers, Goyal notes

  • Feb 01, 11:59 AM (IST)

    Single window clearance for shooting films for Indian filmmakers.

  • Feb 01, 11:58 AM (IST)

    Single window clearance for filmmaking to be made available to Indian filmmakers, anit-camcording provision to be introduced to Cinematography Act to combat film privacy: FM

  • Feb 01, 11:58 AM (IST)

    34 crore JanDhanYojana accounts opened in last five years; Aadhaar almost universally implemented; ensuring poor and middle class receive government benefits directly: FM

  • Feb 01, 11:58 AM (IST)

    Allocation for Northeastern region proposed to be increased to Rs 58,166 crore in this year, a 21% rise over the previous year: Piyush Goyal

  • Feb 01, 11:58 AM (IST)

    Railway capital expenditure goes up from Rs 53,060 crore in FY19 to Rs 64,586 crore in FY20 – positive for railway capex linked companies. – Madhuchanda Dey – Head Research.

  • Feb 01, 11:56 AM (IST)

    Our government hopes to create 1 lakh digital villages in the next 5 years. Jan Dhan, Aadhaar mobile, and direct benefit transfer have been game changers, Goyal notes. Aadhaar is now near-universally implemented and helped ensure poor get the benefit of govt schemes directly in their bank accounts, he says.

  • Feb 01, 11:56 AM (IST)

    Villages to be converted to digital villages. Target over the next 5 years is to create over 1 lakh digital villages

  • Feb 01, 11:56 AM (IST)

    Allocation for North Eastern Region proposed to be increased to 58,166 crore in this year, a 21% rise over previous year: FM

  • Feb 01, 11:56 AM (IST)

    2% interest subvention to farmers for animal husbandry : FM

  • Feb 01, 11:56 AM (IST)

    Cost of data and voice calls in India is possibly the lowest in the world: FM.

  • Feb 01, 11:55 AM (IST)

    The operating ratio of Railways is seen at 96.2% in FY19 and 95% in FY20, Goyal says

  • Feb 01, 11:54 AM (IST)
  • Feb 01, 11:54 AM (IST)

    Indian Railways budget outlay Rs 1,48,658 crore.

  • Feb 01, 11:53 AM (IST)

    Installed solar generation capacity in India increased by 10 times in the last 5 years.

  • Feb 01, 11:53 AM (IST)

    Inland freight waterways have commenced from Kolkata to Varanasi. North-eastern states may also be connected in due course.

  • Feb 01, 11:53 AM (IST)

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

  • Feb 01, 11:52 AM (IST)

    Goyal talks about 100 plus airports now in India. But the number is far below the government target. – Prince Thomas, Corporate Bureau Chief.

  • Feb 01, 11:51 AM (IST)

    India is the fastest highway developer in the whole world, 27 kms of highways built each day, projects stuck for decades completed; #SagarMala will help faster handling of import and export cars: FM

  • Feb 01, 11:51 AM (IST)

    All farmers affected by severe natural disasters to will continue to get 2 per cent interest subvention and additional 3 percent on timely loan repayment: FM

  • Feb 01, 11:51 AM (IST)

    Our soldiers are our pride and honour. OROP, pending for the last 40 years, has been implemented by us: Piyush Goyal.

    Already disbursed Rs 35,000 crore for our soldiers under OROP, Substantial hike in military service pay has been announced.

  • Feb 01, 11:51 AM (IST)

    Indian Railways has experienced the safest year in its history. All unmanned level crossings on broad guage network have been completely eliminated, Goyal highlights

  • Feb 01, 11:51 AM (IST)

    Domestic air passenger traffic has doubled in the last 5 years.

  • Feb 01, 11:50 AM (IST)

    Construction of rural roads has been tripled; 15.8 lakh out of a total 17.84 lakh habitations have been connected with pucca roads under #PMGSY.
    #PMGSY allocated 19,000 crore rupees in 2019-20(BE) : FM

  • Feb 01, 11:50 AM (IST)

    Bharat has got the full attention of the Govt. Farmers, cattle, unorganised segment, rural women, are among the major themes. But will these spur rural income? No disruptive intervention, yet. – Prince Thomas, Corporate Bureau Chief.

  • Feb 01, 11:50 AM (IST)

    Defence Budget increased to Rs 3 lakh crore.

  • Feb 01, 11:50 AM (IST)

    Domestic passenger traffic has doubled in the last 5 years and this will mean new jobs in the aviation sector.

  • Feb 01, 11:49 AM (IST)

    Rs. 1 crore loan can now be obtained under 59 minutes: FM. Promises, and claims – Sounak Mitra – Associate Editor.

  • Feb 01, 11:49 AM (IST)

    Over Rs 35,000 crore has been allocated under the ‘One Rank One Pension’ scheme so far by the BJP government.

  • Feb 01, 11:49 AM (IST)

    Goyal allocates Rs 3 lakh crore for the defence sector for FY20. If necessary, additional funds will be provided for safety and security of our army personnel, Goyal says

  • Feb 01, 11:49 AM (IST)
  • Feb 01, 11:47 AM (IST)

    Goyal now moves on the defence sector. We had promised to implement One Rank One Pension. We have already disbursed over Rs 35,000 crore after implementing the scheme in true spirit, he said.

  • Feb 01, 11:47 AM (IST)

    India’s youth have turned into job creators from job seekers. The country has become the second-largest hub for startups: Piyush Goyal.

  • Feb 01, 11:47 AM (IST)

    9 nine priority areas identified; National  Artificial Intelligence Portal to be developed soon: Piyush Goyal.

  • Feb 01, 11:47 AM (IST)

    To ensure cleaner fuel and health assurance, we 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 given already: FM Piyush Goyal

  • Feb 01, 11:46 AM (IST)

    75% of woman beneficiaries under PM MudraYojana, 26 weeks of maternity leave and Pradhan Mantri Matritva Yojana, are all empowering women: FM

  • Feb 01, 11:46 AM (IST)

    Goyal now throws in the term artificial intelligence. More power to Digital India. – Nazim Khan, Senior Editor

  • Feb 01, 11:45 AM (IST)

    Pension 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.

  • Feb 01, 11:45 AM (IST)

    Govt e-marketplace GEM has transformed public procurement making it transparent and efficient. Transactions of over Rs 17,000 crore has been done.

  • Feb 01, 11:45 AM (IST)

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

  • Feb 01, 11:44 AM (IST)

    Committee under NITIAayog to be set up to identify and denotify nomadic and semi-nomadic communities; Welfare Development Board to be set up under MSJEGOI for welfare of these hard-to-reach communities and for tailored strategic interventions : FM.

  • Feb 01, 11:43 AM (IST)

    Workers who receive grievous injuries will now get Rs 6 lakh from Rs 2.5 lakh through EPFO: Piyush Goyal

  • Feb 01, 11:43 AM (IST)

    There are a total of 42 crore workers in the unorganised sector in numerous industries. We must provide comprehensive social security coverage: Piyush Goyal.

  • Feb 01, 11:43 AM (IST)

    6 crore households have been given cooking gas connections so far, the target by the end of next year is 8 crore households.

  • Feb 01, 11:42 AM (IST)

    You have to give it to this government. While they sometimes fall to the temptation of naming new schemes after past leaders, many of their new schemes carry a simple convention — they carry the the term “Pradhan Mantri”. – Nazim Khan, Senior Editor.

  • Feb 01, 11:42 AM (IST)
  • Feb 01, 11:42 AM (IST)

    FM Goyal moves on the welfare of women in the country. Nearly 8 crore free LPG connections were planned to be provided to relieve women from use of woodfire for cooking. So far 6 crore connections have already been provided.

  • Feb 01, 11:42 AM (IST)

    Welfare department board to be set up under the Ministry of Social Justice and Empowerment.

  • Feb 01, 11:41 AM (IST)

    50% of the GDP comes from the sweat and toil of 42 crore workers in the unorganized sector: Piyush Goyal.

  • Feb 01, 11:41 AM (IST)

    For workers and labourers, a new pension scheme will come up to ensure an increase in Centre’s contribution by four percent. The pension has been increased from Rs 3,500 to Rs 7,000: FM Piyush Goyal.

  • Feb 01, 11:39 AM (IST)

    A bevy of new scheme launches announced — shall we settle the debate, then? This is no “Interim Budget”. – Nazim Khan, Senior Editor

  • Feb 01, 11:39 AM (IST)

    Instead 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: Piyush Goyal.

  • Feb 01, 11:39 AM (IST)

    10 crore workers to benefit.

  • Feb 01, 11:39 AM (IST)

    Goyal announced allocation of Rs 500 crore for mega pension scheme

  • Feb 01, 11:38 AM (IST)

    Mega Pension scheme for the unorganised sector will see equal contribution from the government. Pension of Rs 3,000 to be paid out after retirement age

  • Feb 01, 11:38 AM (IST)

    Monthly pension of Rs 3,000 for workers in unorganised sector.

  • Feb 01, 11:38 AM (IST)
  • Feb 01, 11:37 AM (IST)

    Gratuity payment limit has been increased from Rs 10 lakh to Rs 20 lakh: FM

  • Feb 01, 11:37 AM (IST)

    Nearly 42 crore workers in the unorganised sector contribute significantly to our economy. We must provide them a comprehensive social security coverage. So other than Ayushman Bharat, our govt proposes set up of Shram Yogi Mandhan, a pension scheme for unorganised sector workers

  • Feb 01, 11:36 AM (IST)

    2% interest subvention to farmers pursuing animal husbandry and fisheries: FM

  • Feb 01, 11:36 AM (IST)

    Govt will set up *Rashtriya Kamdhenu Aayog* to look after the welfare of cows, including genetic improvements and sustainable development. ” Yeh sarkar kabhi Gau mata ke samman mein peeche nahi hategi. (This government will never shy away from honoring our Mother Cow)

  • Feb 01, 11:35 AM (IST)

    New Pension Scheme – employee’s contribution is 10%, government’s contribution increased from 10% to 14%.

  • Feb 01, 11:35 AM (IST)

    ESI eligibility cover limit has been raised to Rs 21,000 per month from Rs 15,000 per month

  • Feb 01, 11:35 AM (IST)

    Vix now down 5%. Market relaxed about the farm package – Manas Chakravarty – Group Consulting Editor.

  • Feb 01, 11:34 AM (IST)

    Farmers struck by natural calamities will now get 2-5% interest subvention under the crop insurance scheme, Goyal said.

  • Feb 01, 11:34 AM (IST)

    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. This will not lead to big surge in agri input demand but will only benefit basic staples consumption. – Madhuchanda Dey – Head Research.

  • Feb 01, 11:33 AM (IST)
  • Feb 01, 11:33 AM (IST)

    FMCG stocks rally with the farmer support announcements.

    Marico, HUL, ITC up 1-2%.

  • Feb 01, 11:32 AM (IST)

    2 percent interest subsidy to be given to farmers involved in animal husbandry activities, to be given through kisaan credit card scheme, additional 3 percent subsidy on timely payment of loans.

  • Feb 01, 11:32 AM (IST)

    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%.

  • Feb 01, 11:31 AM (IST)

    Separate Dept of Fisheries to be formed.

  • Feb 01, 11:31 AM (IST)

    The prices of medicines have come down with control of drugs, stents and knee implant prices.

  • Feb 01, 11:31 AM (IST)

    India is the second largest fish producing nation in the world and provides livelihood to 1.45 crore people. Towards development of this sector the govt will create a separate department of fisheries. Propose 2% interest subvention for those in fisheries.

  • Feb 01, 11:31 AM (IST)

    Rural FMCG demand has anyway been robust in FY19. The direct income support should add to this growth, for mass consumption items – Ravi Krishnan, Deputy Executive Editor.

  • Feb 01, 11:30 AM (IST)

    Piyush Goyal, finance minister said, “There is a need a structured income support to the poor land holder to procure seeds, equipments and other needs. To support them we have formed PM KISAN. Under this the vulnerable farmers, upto 2 hectares will get direct income support of Rs 6,000 per year. The amount will be transferred directly into bank accounts of the farmer in three installments. About 12 crore farmers will benefit from it. The scheme will kick off from December 1”.

    This is a positive for tractor and two wheeler sales – Swaraj Baggonkar – Senior Assistant Editor

  • Feb 01, 11:29 AM (IST)

    Health cards, quality seeds, irrigation facilities etc have been taken into consideration to improve the well being of farmers, he noted.

  • Feb 01, 11:29 AM (IST)

    PM Kisaan Samman Nidhi to support farmers in procuring basic farm inputs like seeds and fertiliser, to benefit seed and fertiliser companies.

  • Feb 01, 11:29 AM (IST)

    This will cost the govt around Rs 75,000 crore.

  • Feb 01, 11:29 AM (IST)

    Direct Benefit Support of Rs 6,000 to farmers with landholdings below 2 hectares – to be transferred directly into bank account of beneficiary farmers in three installments of Rs 2,000 each, funded by Govt of India – around 12 crore farmers to benefit from the scheme.

  • Feb 01, 11:27 AM (IST)

    The 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 scheme, says Goyal. Rs 20,000 crore allocation will be added to the revised estimates of the FY18-19, he said.

  • Feb 01, 11:27 AM (IST)

    Govt approves PM Kisaan Samman Nidhi.

  • Feb 01, 11:27 AM (IST)

    Farmers owning upto 2 hectares to get Rs 6,000 per year.

  • Feb 01, 11:27 AM (IST)

    Ayushman Bharat, the world’s largest healthcare programme, was launched to provide medical care to nearly 50 crore people, resulting in Rs 3,000 crore savings by poor families: Piyush Goyal.

  • Feb 01, 11:27 AM (IST)

    One million people were treated so far under Ayushman Bharat. Have announced 14 new AIIMS since 2014.

  • Feb 01, 11:26 AM (IST)

    In 2014, 2.5 crore families were living without electricity, forced to live in the 18th century. We have achieved almost 100% electrification, says Goyal.

  • Feb 01, 11:26 AM (IST)

    Farmers with less than 2 hectare land will be given Rs 6,000 per year as direct transfer

  • Feb 01, 11:25 AM (IST)

    Keeping in view the distress in farm sector, we revised MSP in favour of our hardworking farmers. Small 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 introduced

  • Feb 01, 11:23 AM (IST)

    As a tribute to Mahatma Gandhi, the world’s largest behavioural change movement Swachh Bharat was initiated; more than 98% rural sanitation coverage has been achieved, says Piyush Goyal.

  • Feb 01, 11:23 AM (IST)

    Rs 1,70,000 crore spent on bringing food at affordable rates to poor people: FM

  • Feb 01, 11:23 AM (IST)

    We are happy to announce that the 22nd AIIMS hospital is going to be set up in Haryana, Goyal said highlighting lower prices in terms of medicines, stents etc  have led to massive scale up in healthcare over the last 5 years.

  • Feb 01, 11:22 AM (IST)

    PMGSY allocation Rs 19,000 crore, same as budgeted for 2018-19.

  • Feb 01, 11:21 AM (IST)

    20 minutes into the speech, the Budget continues like a campaign pitch for the government.

  • Feb 01, 11:21 AM (IST)

    We launched the world’s largest healthcare program Ayushman Bharat to provide medical treatment to nearly 50 cr people, he reiterates. So far 10 lakh people have been treated under this scheme within the short span and nearly Rs 3,000 crore has been saved by those covered under it.

  • Feb 01, 11:20 AM (IST)

    Mahatma Gandhi National Rural Employment Guarantee program’s allocation increased by Rs 5000 crore to Rs 60,000 crore, Madhuchanda Dey – Head Research, Moneycontrol.

  • Feb 01, 11:20 AM (IST)

    The government is committed to providing electricity to every house. LED will help save Rs 50,000 crore in electricity bills in the next few years.

  • Feb 01, 11:19 AM (IST)

    Auto stocks firm, market appears to be betting on a likely farm package boosting demand for automobiles.

  • Feb 01, 11:19 AM (IST)

    One crore 53 lakh houses have been made which is 5 times the earlier run rate

  • Feb 01, 11:18 AM (IST)

    Pradhan Mantra Gram Sadak Yojana allocation is set at Rs 19,000 crore, he said, adding, kids will no longer have to walk from home to school. They will now have a bus service there.

  • Feb 01, 11:18 AM (IST)

    MGNREGA allocation has been set at Rs 60,000 crore for FY19-20, Goyal says

  • Feb 01, 11:17 AM (IST)

    Election speech on in full swing.

  • Feb 01, 11:14 AM (IST)

    Rs 3 lakh crore recovered by banks through IBC, says Goyal. Now bigger businessmen also concerned about repaying debt, he adds.

  • Feb 01, 11:14 AM (IST)

    Have recovered Rs 3 lakh crore so far from the banking system clean up, Goyal points out as he moves to the initiatives in the real estate sector.

    RERA 2016 and Benami Transaction Prohibition Act are helping to bring transparency in real estate, he said

  • Feb 01, 11:14 AM (IST)

    Goyal takes dig at UPA government, by saying that his government has ended the practice of ‘phone’ banking at state-owned banks, and ushered more transparency.

  • Feb 01, 11:14 AM (IST)

    “The Rs 1 trillion GST collection in January would have given some comfort. Still Rs 2.8 trillion needed in the next two months to achieve budgeted estimates.” – Ravi Krishnan – Deputy Executive Editor, Moneycontrol.

  • Feb 01, 11:13 AM (IST)

    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 soon, Goyal says

  • Feb 01, 11:12 AM (IST)

    Earlier there was pressure on only small businessmen to repay loans but now even defaulting managements of big companies are under pressure to repay loans in time

  • Feb 01, 11:11 AM (IST)

    Our govt had the power to ask RBI to review the NPA situation of banks and stop the culture of phone banking, says Goyal

  • Feb 01, 11:11 AM (IST)

    Current account deficit target for FY19 – 2.5% of GDP.

  • Feb 01, 11:10 AM (IST)

    Fiscal deficit revised target for FY19 – 3.4%.

  • Feb 01, 11:10 AM (IST)

    So, that’s a miss on the fiscal deficit target of 3.3% this year. Even this should be taken with a pinch of salt given the possibility of off-balance sheet items.

  • Feb 01, 11:10 AM (IST)

    He’s proud of restoring fiscal balance. Does that mean he will stick to the target?

  • Feb 01, 11:09 AM (IST)

    Piyush Goyal’s remark that farmer incomes have doubled, greeted with boos from the opposition benches.

  • Feb 01, 11:09 AM (IST)

    Goyal starts with recounting a litany of achievements for the Modi government. Reads like a poll pitch so far.

  • Feb 01, 11:09 AM (IST)

    2018-19 revised fiscal deficit target at 3.4%, Goyal points out

  • Feb 01, 11:07 AM (IST)

    If we had not controlled inflation, our families would have been spending 35-40% more on basic amenities today, says Goyal

  • Feb 01, 11:07 AM (IST)

    We brought down average inflation to 4.6% lower than inflation during tenure of any other govt, he says.

  • Feb 01, 11:04 AM (IST)

    “We have reversed the policy paralysis,” says Piyush Goyal as he rises to present the Interim Budget, “India is solidly back on track.”

  • Feb 01, 11:02 AM (IST)

    One thing hasn’t changed. The Budget Speech starts with a din

  • Feb 01, 11:02 AM (IST)

    There is hope the government will also focus on pushing the sales of electric vehicles in the country. The finance ministry on Tuesday had lowered customs duty on electric vehicle parts to 10-15% from 15-30%. Society of Indian Automobile Manufacturers (SIAM) welcomed the move.

Update at 11:00 AM:

1 hour ago

Union Minister Piyush Goyal presents the Budget 2019 in the Lok Sabha.

11

 

 

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10% reservation for General Category : Are you eligible for 10% reservation in General category? Here are the criteria

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The Union Cabinet has approved 10 per cent reservation in jobs and educational institutions for the economically backward section in the general category, sources said Monday.

The Union Cabinet has approved 10 per cent reservation in jobs and educational institutions for the economically backward section in the general category, sources said Monday.
The government is likely to bring a constitutional amendment bill in Parliament on Tuesday, they said, adding that the quota will be over and above the existing 50 per cent reservation.

The section doesn’t get reservation as of now, the sources said.

“The reservation will be given to those economically backward poor people who are not availing the benefit of reservation as of now,” a source explained.

The reservation benefit is likely to be availed by those whose annual income is below Rs 8 lakh and have up to five acres of land, he said.

 

1. What are the criteria for qualify as EBC?

What are the criteria for qualify as EBC?

1) Annual income below Rs 8 lakh per annum

2) Agricultural land below 5 acre

3) Residential area below 1000 square feet

4) Residential plot below 109 yards in notified municipality

5) Residential plot below 209 yards in non-notified municipality area

 

2. What it means?

What it means?

In a major move ahead of the Lok Sabha polls, the Union Cabinet Monday cleared a 10 per cent job and education quota for “economically weaker” sections, meeting a key demand of upper castes, a staunch BJP support base which has shown signs of a drift from the party.

A top government functionary said a constitutional amendment bill will be tabled in Parliament Tuesday, the last day of the Winter Session.

 

3. Will go above 50%Will go above 50%

The proposed reservation will be over and above the existing 50 per cent reservation enjoyed by the Scheduled Castes, Scheduled Tribes and the Other Backward Classes, taking the total reservation to 60 per cent.

The constitutional amendment bill would be required as the constitution does not provide for reservation on the ground of economic conditions. It envisages amendment to the Articles 5 and 6.

 

4. Will give reservation to the poor

Will give reservation to the poor

A Union minister said the bill once passed will amend the Constitution accordingly to give reservation to the poor among the general castes and classes.

“The bill will provide a shelter for upper castes under the rubric of fundamental rights. The court’s rule of the maximum 50 per cent quota cannot fetter Parliament’s right to amend the Constitution,” he said.

 

5. SC cap?

SC cap?

In its famous Indra Sawhney judgement, the Supreme Court had set a cap of 50 per cent cap on quotas. Government sources said the proposed constitutional amendment will pave the way for the additional quota.

“The reservation will be given to those economically weaker people who presently do not avail any benefits of reservation,” a source said.

 

6. Castes likely to benefitCastes likely to benefit

Among the major castes to benefit from the proposed law are Brahmins, Rajputs (Thakurs), Jats, Marathas, Bhumihars, several trading castes, Kapus and Kammas among other Upper Castes.

The poor among the other religions will also benefit from it, sources added. The Congress described the government’s decision as an “election gimmick” to fool the people and a proof of BJP’s “fear” of losing Lok Sabha polls.

 

7. Sabka Saath Sabka Vikas

Sabka Saath Sabka Vikas

The BJP hailed the move with several leaders describing it as historic and exercise in sync with government’s motto of “Sabka Saath Sabka Vikas” (with all, development for all).

BJP ally and Dalit leader Ram Vilas Paswan also termed the decision by the government as “historic”.

 

8. Opp parties must support

Opp parties must support

The BJP believes that if opposition parties, whose support is a must for its passage in the Rajya Sabha where the government lacks numbers, vote against it, then they will risk losing support of an influential section of society.

Influential castes like Marathas, Kapus and Jats have hit the streets in the last few years, seeking reservation benefits. Their protests at times have turned violent.

 

9. What about states?What about states?

Though governments in states like Haryana, Rajasthan and Maharashtra have made laws, they are often struck down by the court on the ground of a Supreme Court judgement in the Indra Sawhney case had fixed a ceiling of 50 per cent on reservation.

The apex court has also asserted that the Constitution makes no case for quota on economic ground and only talks of educational and social backwardness besides those for the SCs and STs.

He added that the demand for providing quota to the poor from the general castes was made in the constituent assembly too.

“For the first time, we (govt) are now going to give constitutional recognition to the poor from the upper castes,” he said.

 

10. Criteria

Criteria

The bill is likely to introduces criteria like an annual income below Rs 8 lakh and not owning more than five acres of agricultural land for those seeking quota benefits.

They should also not own a flat of 1000 sq ft or more, land of 100 yards in notified municipality area and 200 yards in non-notified area, sources said.

The ruling BJP hopes that the bill will help consolidate the general castes in its support as it begins campaign for the Lok Sabha elections scheduled in April-May.

 

11. Wooing UC?

Wooing UC?

Political watchers believe that sections of upper castes had drifted from the party of late following its aggressive push to win over backward classes and Dalits.

The Modi government’s decision to bring a law to nullify a Supreme Court order, which critics said had diluted provisions in a law on atrocities against Dalits and tribes, was also used by some upper castes groups to campaign against the BJP in recent state polls.

The BJP had lost to the Congress in three states, Madhya Pradesh, Rajasthan and Chhattisgarh, where it was in power.

 

 

 

 

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#Railway Jobs : West Central Railway, Kota Recruitment 2018, Apply Online for 160 Act Apprentice Posts before 31 Dec

West Central Railway, Kota Jobs Notification: West Central Railway, Kota has invited applications for the post of Act Apprentice. The eligible candidates can apply to the post through the prescribed format on or before 31 December 2018.

Notification details

Advertisement No.: WCR/P-WRS/135/7/4

Important Date:

• Last Date of Application: 31 December 2018

West Central Railway, Kota Vacancy Details

• Act Apprentice- 160 Posts

Eligibility Criteria for Act Apprentice Posts

Educational Qualification: 10+2 or its equivalent with ITI certificate in the concerned subject.

Age Limit for Act Apprentice Posts – 15 to 24 years

(Age Relaxation for SC/ST/OBC/PWD/Women, as per Govt. Rules)

How to Apply for the West Central Railway, Kota Jobs 2018

Eligible candidates can apply through the online mode on or before 31 December 2018. Candidates can check the official notification below for more details.

Download Official Notification PDF Here

 

 

 

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MCL Recruitment 2019, 370 Vacancies Notification

Notification for Jr Overman, Mining Sirdar & Dy Surveyor Posts

MCL Jobs Notification: Mahanadi Coalfields Limited (MCL)has invited applications for the recruitment of Jr. Overman, Mining Sirdar & Dy Surveyor. Eligible candidates can apply for the post in the prescribed format from 21 December 2018 to 10 January 2019.

Important Dates:

  • Starting Date of Online Application Submission – 21 December 2018
  • Last Date of Online Application Submission – 10 January 2019

MCL Vacancy Details

Total Posts – 370

  • Jr. Overman, T &S Gr.-C – 149 Posts
  • Mining Sirdar, T&S Gr.-C – 201 Posts
  • Dy. Surveyor, T &S Gr.-C – 20 Posts

Salary:

Rs. 31,852 pm

How to Apply for MCL Jobs 2018

The Eligible candidates can apply for the post in the prescribed format through MCL’s website www.mcl.gov.in. from 21 December 2018 to 10 January 2019.

 

 

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#Hiring : More than 50% of companies look to step up hiring in 2019 : Mercer

More than 50 per cent of companies intend to increase hiring next year while only 3 per cent firms may reduce the headcount, a senior official of global consulting HR firm Mercer said.

“The hiring outlook seems to be positive (in 2019). More than 50 per cent of companies expect to increase the headcount whereas only 3 per cent are likely to reduce the headcount, as per our employers’ survey,” said Shanthi Naresh, India business leader, Mercer, when asked about the hiring trend for the coming year.

Mercer (India) CEO Anish Sarkar also noted that the trend for the last couple of years has been good in terms of hiring and next year the outlook seems positive.

“Besides the demand for key skills like sales, research and development become predominant,” he said.

Speaking about the impact of artificial intelligence (AI) on job losses, Mustafa Faizani, Mercer Zone leader for India, Middle East and Africa said, AI will lead to displacement of jobs but will have addition as well.

So, on a net basis it will add jobs in different sectors but it will be a challenge on how to reskill displaced persons and make them employable for the new economy.

About the use of AI, he mentioned that AI is being deployed for credit approvals and predicting the default rate of an applicant instead of individuals taking a call. Approvals are happening fast on AI rather than relying on an individual’s judgement, he added.

AI is also useful in preventing money laundering by detecting transactions and movement of money across global financial sectors.

 

 

 

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Modi govt about to roll out a mega jobs programme for undergraduates

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With unemployment emerging as a major concern ahead of the Lok Sabha elections, three ministries — human resource development, labour and skill development — are set to join hands to train undergraduates and generate jobs for them, starting in 2019.

The Modi government is preparing to roll out a mega ‘apprenticeship’ programme, specifically targeting students of humanities and other nontechnical courses across private and government-funded higher education institutes, to make them more employable and help them get jobs when they graduate.

A six- to 10-month apprenticeship and on-the-job training with prospective employers, backed with stipends, will be arranged for students in the final year of their degree programmes

While technical courses tend to have a better linkage with industry and offer faster employment avenues to graduates, this doesn’t always hold true for nontechnical degree holders. This segment constitutes a significantly high number of those without jobs because only a small percentage opts for post-graduation and further studies. Career counselling and relevant apprenticeship are envisaged as part of the plan to make them job-ready.

Central public sector units, sector skill  councils and big industry will be linked with the programme to ensure high-quality apprenticeship, basic training and on-the-job training to each student passing out of college.

Ministers and top officials of the three ministries held a meeting last week to decide on the contours of the programme, set to be jointly launched over the next few days.
Ministers and top officials of the three ministries held a meeting last week to decide on the contours of the programme, set to be jointly launched over the next few days.

The plan is to start implementation in 2019, targeting 1 million students in the 2019-20 academic session. The larger goal is to bring into effect a national ‘integrated apprenticeship programme’ to ‘improve the employability’ of over 8 million students passing out of degree programmes.

The Rs 10,000-crore corpus of the National Apprenticeship Promotion Scheme, which has remained largely unused so far, will be unlocked to help fund the stipend-based apprenticeship. The government’s contribution to the stipend will be 25% of the stipend, up to Rs 1,500 per month, a person aware of the plan said.

There will be three key focus areas — adding apprenticeship-based, end-of-degree programmes and linking them with higher education institutes, restructuring the bachelor’s in vocational courses programme to add the apprenticeship module and integrating all higher education institutes with the National Career Service portal.

The portal will be linked with the website of the Ministry of Skill Development and Entrepreneurship to create a seamless dashboard displaying student qualifications, eligibility, their apprenticeship and employment status and a waitlist that is updated when the graduates find employment.
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Ashok Gehlot To Be Rajasthan Chief Minister, Sachin Pilot Gets Deputy’s Post

Two-time chief minister Ashok Gehlot will be chief minister of Rajasthan and Sachin Pilot has accepted the Deputy Chief Minister’s post.  An official announcement on the matter has been made.

Rahul Gandhi, who met both Ashok Gehlot and Sachin Pilot at his residence yesterday, made his final decision today. While Ashok Gehlot is backed by the party leadership, Sachin Pilot is popular among the youth. After yesterday’s meetings, sources say Ashok Gehlot has an edge.

Party observer for Rajasthan KC Venugopal said, “Taking decision on CM is not an easy job. The final decision will be taken tomorrow (today, Friday) in a meeting to be held around 10 am.”