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.

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Disclaimer: RSS has been taken from their official website.

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Telangana Elections LIVE : As polling nears end in 119 constituencies, Telangana recorded a Final Voter Turnout Of 73.2 %

As polling nears end in 119 constituencies, Telangana recorded a Final Voter Turnout Of 73.2 %.

–After Jwala Gutta, IPS Officer’s Name Missing;

–Manish Sisodia Slams EC

56.17% Turnout Till 3 PM; Sania Mirza Casts Vote In Hyderabad

PV Sindhu after casting her vote In Hyderabad

48.1 per cent voter turnout till 1 PM in Telangana.

8.97% Voter Turnout Till 9 AM

As many as 1,821 candidates including a transgender are in the fray in the election.

For the first time, Election Commission is using Voters Verifiable Paper Audit Trail (VVPAT) in Telangana.

224 video-surveillance teams and 133 video-viewing teams have been pressed into service.

Polling will start at 7 am and end at 5 pm, while in 13 constituencies which were classified as Left Wing Extremist-affected, polling ends one hour before (4 pm).

The TRS, seeking a second term in office, is going alone, as also the BJP.

The Congress has stitched together “Prajakutami” (People’s Front) along with the Telugu Desam Party (TDP), the Telangana Jana Samiti (TJS) and the CPI to take on the ruling TRS, led by caretaker Chief Minister K Chandrasekhar Rao (KCR).

The assembly polls in Telangana were originally scheduled to be held simultaneously with the Lok Sabha elections next year, but the House was dissolved on September 6 as per a recommendation by the state cabinet.

Security was beefed up at bordering areas which were identified as Left Wing Extremist-affected regions.

One lakh police personnel including 25,000 central paramilitary forces and 20,000 from other states are engaged in poll duties.

Campaigning by political parties came to an end at 5 pm Wednesday.

Over 2.80 crore electorate are eligible to exercise their franchise in the State, which has a total of 32,815 polling stations across.

More than 1.50 lakh polling officials including reserve staff are in the process of giving final touches Thursday to make the election to the 119-member House a smooth affair.

After a high-voltage campaign that saw war of words among contending parties, voting for the Assembly elections in Telangana will begin on Friday with the Congress-led alliance challenging the ruling TRS, and the BJP seeking to make it a triangular contest.

 

India’s youngest state, Telangana, goes to polls on Friday, 7 December, to constitute its second Legislative Assembly. The single-phase polling will see voting in all 119 constituencies.

The main contenders for this election remain to be the KCR-led TRS, which was in power for the last four years, and the Congress-led ‘Mahakutami’ (or ‘Grand Alliance’), which included the Telugu Desam Party (TDP) among many others.

  • Telangana is going to polls nearly seven months earlier as the TRS government dissolved the Assembly before its term ended
  • The Congress is considered the main Opposition in the state and is leading a grand alliance called ‘Mahakutami or Prajakutami’
  • TRS chief K Chandrashekar Rao will remain the caretaker chief minister till the new government is formed

What You Must Know About Telangana Polls 2018

What Do the Pre-poll Surveys Say?

The Aaj Tak-India Today survey predicts a massive victory for the Telangana Rashtra Samithi (TRS), with 43 percent voters predicted to cast their ballot for the KCR party. The Congress, on the other hand, is expected to garner 18 percent of vote share.

Interestingly, 11 percent of those surveyed wanted KCR to be the next prime minister, while 44 percent voted for PM Narendra Modi and 39 percent for Congress President Rahul Gandhi.

Another survey conducted by VDP Associates, claims that the TRS is all set to win at least 80 seats, while the Congress is expected to win around 20 seats. The survey predicts that the BJP will win seven seats, with the AIMIM getting eight.

The Main Contenders in Battlefield Telangana

The main contenders for this election remain to be the KCR-led TRS, which was in power for the last four years, and the Congress-led ‘Mahakutami’ (or ‘Grand Alliance’), which included the Telugu Desam Party (TDP) among many others.

The BJP, although not a main contender, is expected to swing some percentage of vote share its way. In all, there are now as many as nine political parties vying for power in the state.

Early Polls in Telangana

A united Andhra Pradesh has voted for both state Assembly and the Lok Sabha at the same time — from 1999 till 2014. However, since August 2018, media reports suggested that KCR was getting ‘battle-ready’ to dissolve the Assembly and go to polls in winter 2018, along with Rajasthan, Madhya Pradesh, Chhattisgarh and Mizoram.

KCR dissolved the Telangana Assembly on 6 September, his supposed ‘lucky’ date.

Hours after dissolving the Assembly, he released a list of 105 candidates who will fight the elections from Husnabad, the very place he launched his 2014 campaign.

 

 

 

Disclaimer: RSS has been taken from their official website.

 

Rajasthan Assembly Polls 2018 LIVE: ‘Fake Gandhi’ family has destroyed the Khadi industry in India

  • PM Modi says: The BJP will work on the following five principles to bring Rajasthan on the path of progress and development:

    1. Education to the children

    2. Employment to the youth

    3. Irrigation facilities to the Farmer

    4.Medicine and health facilities to the elderly

    5. Listen to each and every one

     

    Under the Jan Dhan Yojana and Start-Up India, we have given loans worth of Rs. 14 crore to those who wanted to start their own businesses : PM Modi in Dausa

    The BJP has made toilets under Swachch Bharat, we made toilets so that women don’t have to defacate on the open : PM Modi in Dausa

    Congress destroyed the Khadi industry in India: PM Modi

    Dausa is known for Khadi. Mahatma Gandhi had started Khadi to make the people of India self-sustaining. But, this ‘fake Gandhi’ family destroyed the Khadi industry of India. It was the BJP that not only revived the Khadi industry, but made India proud of it. In fact, when the Khadi Jacket came to be known as the ‘Modi Jacket, the Congress could not fathom it! : PM Modi in Dausa, Rajasthan

Ease of Doing Business: India jumps 23 notches, now at rank 77

Election News :rajasthan512                         Telangana :telangana512

 

Madhya Pradesh:madhyapradesh96.png                     chhattisgarh: chhattisgarh512

 

In a big boost for Narendra Modi government, India climbed another 23 points in the World Bank’s ease of doing business ranking to 77th place, becoming the top ranked country in South Asia for the first time and third among the BRICS.

In the last two years the country has climbed 53 notches, a performance matched in the past only by Bhutan. The biggest gain was in construction permit where India climbed 129 ranks to 52nd place on the back of targeted government effort to remove hurdles.

The details were revealed in World Bank’s Doing Business Report which is an assessment of business regulation across 190 economies.

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Further, India now ranks in the top 25 in the world on three indicators- getting electricity, getting credit and protecting minority investors, department of industrial policy and promotion said on Wednesday.

The doing business report ranks countries on the basis of distance to frontier (DTF), a score that shows the gap of an economy to the global best practice. India’s DTF score improved to 67.23 from 60.76 last year.

The World Bank has recognised India as one of the top improvers for the year. This year, India features among the report’s list of top 10 improvers for the second year in a row. India is the one of only nine countries around the world and only one in BRICS to feature in this list.

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The six reforms recognised in this year’s report are starting a business, getting electricity, dealing with construction permits, getting credit, paying taxes and trading across borders.

In dealing with construction permits, India has implemented an online single window system, introduced deemed approvals and reduced the cost for obtaining these permits. In the electricity sector, the time taken for obtaining a new connection has reduced from 105 to 55 days. For resolving insolvency, India has put in place a new Insolvency and Bankruptcy Code and time bound reorganization procedure for corporate debtors.

Disclaimer: RSS has been taken from their official website.

Modi-Putin Summit UPDATES: PM Modi meets President Putin, sit down for ‘delegation level talks’

Russian President Vladimir Putin arrived at Hyderabad House where he met PM Narendra Modi. New Delhi and Moscow are expected to sign 20 agreements.

Russian President Vladimir Putin arrived in India on Thursday for the annual India-Russia bilateral summit that he will hold with Prime Minister Narendra Modi. President Putin was received at the airport by External Affairs Minister Sushma Swaraj. “Welcome to India, President Putin. Looking forward to our deliberations, which will further enhance India-Russia friendship,” PM Narendra Modi tweeted.

Later, Modi welcomed Putin with his trademark ‘bear hug’ at 7, Lok Kalyan Marg. India and Russia are expected to sign 20 agreements following the 19th India-Russia Bilateral Summit to be held here today. This includes India’s purchase of four S-400 air defence missile systems from Russia at a cost of more than Rs 40,000 crore.

India is also planning to purchase 4 Krivak-class frigates from Russia. The Indian Defence Ministry had cleared $2.5 billion deal that was signed during President Putin’s visit to the country in October 2016. The first two ships will be built at the Goa shipyard and the remaining two will be acquired directly from Russia. India already operates six Talwar-class guided missile frigates which are the improved versions of the Krivak III-class (Project 1135) frigates deployed by the Russian Coast Guard.

This is the third meeting between Modi and Putin this year after the informal meeting in the Russian resort city of Sochi in May and a bilateral on the sidelines of the BRICS Summit in South Africa.

The India-Russia bilateral relationship was elevated to Special and Privileged Strategic Partnership in 2010.

After Japan, Russia is the only country with which India holds annual bilateral summits.

Modi-Putin Summit LIVE:

11:30 am: After the delegation level talks, President Putin and PM Modi will participate in a Russian-Indian business forum and meet with students of Russia’s Sirius educational center and a group of talented Indian children, reported TASS.

11:15 am: Countering America’s Adversaries through Sanctions Act (CAATSA) is a United States federal law which aims to punish Russia for its involvement in the wars in Ukraine, Syria and its alleged interference in the 2016 US Presidential election. According to this law, countries that purchase Russian weapons or do business with Kremlin will face sanctions as well.

11:00 am: Russian President Vladimir Putin meets PM Narendra Modi at Hyderabad House. India risks US sanctions for buying Russian weaponry. Last month, the US had imposed financial sanctions on China for buying Sukhoi Su-35 fighter jets and S-400 air defence system.

10:45 am: According to Kremlin, both the countries are all set to sign a deal worth more than five billion dollars for the delivery of Russian S-400 missile systems to India.

10:30 am: Russian President Vladimir Putin will meet Prime Minister Narendra Modi at Hyderabad House today at 11 am. President Putin is accompanied by a high-level delegation comprising Deputy Prime Minister Yuri Borisov, Foreign Minister Sergey Lavrov, and Trade and Industry Minister Denis Manturov.

 

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