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    June 14, 2019
    FM holds Pre-Budget Consultation with representatives of Social Sector
    June 14, 2019
    FM holds Pre-Budget Consultation with representatives of Infrastructure Sector and experts on Climate Change
    June 13, 2019
    FM holds Pre-Budget Consultation with representatives of Financial Sector and Capital Markets
    June 11, 2019
    Finance Minister holds Second Pre-Budget Consultation with the Representatives of Industry, Services and Trade Groups
    June 11, 2019
    Finance Minister holds First Pre-Budget Consultation on Agricultural and Rural Development; FM stresses on the measures to boost Economic and Social I...
    May 25, 2019
    Budgetary target for Financial Year 2019-20 Region wise allocation
    February 22, 2019
    Finance Act, 2019
    February 13, 2019
    FINANCE BILL, 2019 - AS PASSED BY LOK SABHA ON 12-2-2019
    February 1, 2019
    Power Minister calls the Budget as historic, people friendly and forward looking Finance Minister thanks tax payers saying “Your tax pays for the el...
    February 1, 2019
    MSME Ministry allocated ₹ 7011 Crore in Budget 2019-20
    February 1, 2019
    To provide an assured income support to small and marginal farmers Govt. is launching Pradhan Mantri Kisan Samman Nidhi (P.M. Kissan) Budgetary alloca...
    February 1, 2019
    PM's remarks on the Budget 2019-20
    February 1, 2019
    The Budget for New India will energise the nation, says PM
    February 1, 2019
    Budget empowers all sections of society: PM
    February 1, 2019
    Fiscal deficit to be at 3.4% of GDP this year: Goyal
    February 1, 2019
    Rs 3 lakh cr recovered from big corporate loan defaulters: FM
    February 1, 2019
    Farmers to get ₹ 6,000/yr in 3 installments under Centre funded scheme: FM
    February 1, 2019
    Budget 2019: Sensex, Nifty hold on to gains
    February 1, 2019
    Other banks to be out of PCA framework soon, says FM
    February 1, 2019
    Inflation hidden, unfair tax on poor, middle class; govt broke the back of high prices: Goyal
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June 14, 2019
FM holds Pre-Budget Consultation with representatives of Social Sector
Show AI Summary
Public investment in social infrastructure prioritised to guide budget measures for health, education and social protection improvements.
Pre-Budget consultation emphasised prioritising public investment in social infrastructure-education, health and social protection-to improve human development, and stakeholders proposed measures including expanded healthcare infrastructure, free medicines and diagnostics, PPP promotion in tertiary care, cluster-based model schools, enhanced scholarships, nutrition and sanitation initiatives, protection of children from labour, and targeted budgets for special schools and rehabilitation centres.
June 14, 2019
FM holds Pre-Budget Consultation with representatives of Infrastructure Sector and experts on Climate Change
Show AI Summary
Infrastructure financing priorities: fiscal and regulatory measures proposed to mobilise investment and incentivise green and transport sectors.
Pre-budget consultations sought policy and fiscal measures to mobilise capital and reduce costs for infrastructure projects, proposing tax-free bonds, levy rationalisation, streamlined land acquisition, GST reclassification for telecom towers, and user development fees for railway upgrades. Climate-focused proposals recommended a Green Technology Acceleration Fund, Infrastructure Status for renewable energy, incentives for domestic solar manufacturing and electric vehicles, vehicle-scrapping provisions, enhanced recycling, and increased R&D support in the automobile sector.
June 13, 2019
FM holds Pre-Budget Consultation with representatives of Financial Sector and Capital Markets
Show AI Summary
NBFC liquidity support: propose dedicated liquidity window and regulatory distinction between solvency, governance and liquidity pressures.
Pre budget consultations urged regulatory separation of solvency, governance and liquidity issues for NBFCs and proposed creation of a dedicated NBFC liquidity window, easing liquidity pressures from insolvency, and review of NPA provisioning via a specialised committee. Additional proposals sought market reforms such as a Debt ETF, separate bond exchange, permitting bank investment in InvITs, review of small savings rates, rationalisation of capital markets taxes, capacity building in audit and credit rating, online MSME trade licensing, and progressive corporate tax measures to incentivise MSMEs.
June 11, 2019
Finance Minister holds Second Pre-Budget Consultation with the Representatives of Industry, Services and Trade Groups
Show AI Summary
Pre-Budget Consultation gathers industry suggestions on tax, FDI, GST, MSME and policy reforms to boost growth.
Pre-Budget consultations with industry, trade and services solicited proposals on tax simplification, corporate and capital gains tax, GST administration, FDI facilitation, and measures for MSMEs, start-ups, e commerce, tourism, food manufacturing, land reforms, SEZs, R&D investment, and skill development to boost economic activity and employment ahead of the General Budget.
June 11, 2019
Finance Minister holds First Pre-Budget Consultation on Agricultural and Rural Development; FM stresses on the measures to boost Economic and Social Infrastructure of Rural Sector and ways to eradicate unemployment and poverty through development of Agriculture and Allied Sectors as well as Non-Farm Sector; Reiterates that the concerns of Agriculture Sector are high on the priority of the present Government
Show AI Summary
Rural infrastructure investment priority: pre budget consultations seek measures to boost agriculture, market access and non farm jobs.
Pre budget consultations prioritised rural economic and social infrastructure to tackle unemployment and poverty by supporting agriculture, allied activities and the non farm economy; key proposals included promoting start ups to integrate agricultural markets, strengthening agricultural research and extension, incentivising agro processing, resolving GST issues for Farmer Producer Organisations, expanding micro irrigation and solar pumps, boosting R&D and providing financial incentives to states for market reforms.
May 25, 2019
Budgetary target for Financial Year 2019-20 Region wise allocation
Show AI Summary
Budgetary target methodology for regional tax allocations emphasizes weighted growth and moderation with all India targets.
Targets for each cadre controlling Principal CCIT are fixed using a weighted average growth rate of net collections over the last three years with highest weight to the immediately preceding year, moderated by averaging with the all India targeted growth rate and adjusted for regional factors; these regional targets must be further allocated to field units based on past performance and revenue potential.
February 22, 2019
Finance Act, 2019
Show AI Summary
Finance Act 2019: tax rates retained, 4% health and education cess, stamp duty on securities via exchanges/depositories.
The Finance Act, 2019 maintains the 2018 income-tax rate structure for 2019-20, adds a 4% Health and Education Cess on income-tax plus surcharge, updates surcharge slabs and caps, amends Income-tax Act thresholds and deductions effective 1 April 2020, and inserts Part AA into the Stamp Act imposing stamp-duty collection duties on stock exchanges, clearing corporations and depositories for securities transactions with specified Schedule I rates, new penalties for non-compliance, and extends the PMLA investigation period to 365 days.
February 13, 2019
FINANCE BILL, 2019 - AS PASSED BY LOK SABHA ON 12-2-2019
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Finance Bill 2019 continues income-tax rates, revises surcharges and health cess, and overhauls stamp-duty on securities and depositories.
The Finance Bill, 2019 maintains existing income-tax rates and reaffirms surcharge bands while introducing a 4% Health and Education Cess on tax plus surcharge; it amends various income-tax thresholds, deductions and withholding limits with several provisions effective 1 April 2020. The Bill overhauls stamp-duty treatment of securities by defining key terms, making clearance lists, depository transfers and allotment lists the principal chargeable instruments, directing stock exchanges, clearing corporations and depositories to collect and remit duty to State Governments, prescribing Schedule I duty rates for securities and derivatives, and creating penalties and rule-making powers to operationalise the collection and reporting regime. The money-laundering investigation period is extended with court-stay time excluded from computation.
February 1, 2019
Power Minister calls the Budget as historic, people friendly and forward looking Finance Minister thanks tax payers saying “Your tax pays for the electricity connections to the poor”
Show AI Summary
Electrification expanded through tax funded connections to extend access, paired with efficiency and clean energy promotion.
The Budget prioritizes nationwide household electrification by providing free electricity connections to willing families financed through general taxation, complemented by a large-scale LED distribution initiative credited with significant household bill savings and policy support for electric vehicles and expanded renewable generation to reduce pollution and create jobs.
February 1, 2019
MSME Ministry allocated ₹ 7011 Crore in Budget 2019-20
Show AI Summary
MSME funding commitment boosts credit support, interest subvention, technology centres and employment schemes for micro and small enterprises.
The 2019-20 interim budget increases Ministry funding to reinforce credit facilitation and institutional capacity for MSMEs, including a Credit Support Programme for credit guarantees, an Interest Subvention Scheme to fund a two percent rebate on incremental loans to GST registered units, allocations for Technology Centres and cluster development, expanded National SC/ST Hub support, and strengthened funding for the Prime Minister Employment Generation Programme and Mission Solar Charkha.
February 1, 2019
To provide an assured income support to small and marginal farmers Govt. is launching Pradhan Mantri Kisan Samman Nidhi (P.M. Kissan) Budgetary allocation of Agriculture & Farmers Welfare Ministry has been raised by around 2.5 times.
Show AI Summary
Direct income support for small and marginal farmers via centralised transfers, paired with expanded budgetary funds and credit reforms.
PM-KISAN creates a central direct income support scheme for vulnerable landholding farmer families with cultivable land up to two hectares, providing an annual entitlement paid in three equal instalments directly into bank accounts and funded by the central government; the programme is effective from 1 December 2018. Complementary budget measures increase agriculture allocations and establish targeted funds for irrigation, dairy, markets, fisheries, and animal husbandry, while Kisan Credit Card expansion and extended interest subvention and repayment incentives support credit access and calamity affected loan rescheduling.
February 1, 2019
PM's remarks on the Budget 2019-20
Show AI Summary
Income tax exemption expanded for low and middle income earners, increasing disposable income and boosting compliance nationwide.
Budget 2019-20 implements income tax relief for middle and salaried classes to reduce tax burden and boost disposable incomes, establishes a large direct benefit scheme for small and marginal farmers including support for allied rural activities, expands social protection programmes and a contributory pension for unorganised workers, and restructures the industrial and internal trade promotion department to better serve traders and domestic commerce.
February 1, 2019
The Budget for New India will energise the nation, says PM
Show AI Summary
Budget for New India expands targeted support-farmer income aid, unorganised sector pension scheme, and middle-class tax relief.
The interim budget frames a package of targeted schemes to deliver inclusive growth by directly benefiting farmers, the middle class and unorganised workers. Key mechanisms include a direct income-support scheme for small and marginal farmers under PM Kisan Nidhi, a contributory social-security pension initiative for unorganised workers under PM Shram Yogi Man Dhan Yojana, expanded healthcare and welfare coverage through Ayushman Bharat, and income-tax relief measures for middle-class taxpayers, alongside complementary support for agriculture, animal husbandry, fisheries, MSMEs, housing and infrastructure to operationalise poverty reduction and broader economic impetus.
February 1, 2019
Budget empowers all sections of society: PM
Show AI Summary
Interim budget extends broad benefits to farmers, middle-class households and unorganised workers, aiming to empower citizens.
Interim budget presented as a short-term fiscal statement aims to empower citizens by targeting agricultural stakeholders, middle-income households, and workers in the unorganised sector, covering more than twelve crore farmers, three crore middle-class families, and tens of crores of unorganised workers as a mechanism to support livelihoods and household welfare.
February 1, 2019
Fiscal deficit to be at 3.4% of GDP this year: Goyal
Show AI Summary
Fiscal deficit target set in budgetary policy, linked to current account outlook and FDI liberalisation measures.
Fiscal deficit target is established in the Budget as a central fiscal policy parameter for the year, linked to an expected current account deficit measure and framed as managing aggregate demand and external balance through a definable deficit benchmark. The Budget highlights liberalisation of foreign direct investment channels, notably expansion of the automatic route, and cites the Goods and Services Tax and other structural reforms as measures contributing to inflation control and macroeconomic stability.
February 1, 2019
Rs 3 lakh cr recovered from big corporate loan defaulters: FM
Show AI Summary
Non-performing asset recovery accelerates as insolvency framework and regulatory scrutiny target corporate defaulters.
The finance minister reported substantial recoveries from corporate loan defaulters, credited improved recoveries to enhanced regulatory oversight and the Insolvency and Bankruptcy framework, stated that improper lending practices described as "phone banking" have been stopped, and noted that specific public sector banks have been removed from the Reserve Bank's Prompt Corrective Action framework as asset quality and governance improve.
February 1, 2019
Farmers to get ₹ 6,000/yr in 3 installments under Centre funded scheme: FM
Show AI Summary
Central-funded farmer support scheme provides annual direct cash support in three installments fully financed by the central government.
A central government scheme will provide annual direct cash support of six thousand rupees to eligible farmers, disbursed in three installments, with the entire liability borne by the central government; the announcement is presented within the budgetary framework alongside increased allocations for rural employment programmes and expanded subsidised foodgrain distribution.
February 1, 2019
Budget 2019: Sensex, Nifty hold on to gains
Show AI Summary
Fiscal deficit revised upward, with a direct benefit transfer scheme for small farmers and mixed market responses.
The Budget revised the fiscal deficit upward to 3.4% of GDP and announced the Pradhan Mantri Kisan Samman Nidhi, a direct benefit transfer providing annual cash assistance to small and marginal farmers; market reaction included modest equity gains led by autos, realty, FMCG and pharma, significant decline in certain commodity-linked stocks after earnings, net foreign portfolio buying versus domestic institutional selling, and a slight rupee depreciation.
February 1, 2019
Other banks to be out of PCA framework soon, says FM
Show AI Summary
Prompt Corrective Action: several public sector banks removed from restrictions, with remaining lenders expected to exit framework soon.
Removal of lending curbs under the Prompt Corrective Action framework was announced for a subset of public sector banks, ending PCA-imposed restrictions on lending and expansion for those institutions. The statement indicates remaining public sector lenders continue to be subject to PCA constraints but are expected to exit the framework as banking sector improvements attributed to recent government measures continue.
February 1, 2019
Inflation hidden, unfair tax on poor, middle class; govt broke the back of high prices: Goyal
Show AI Summary
Inflation as a hidden tax reduced by government measures, easing price burden on poor and middle classes.
Inflation is characterised as a hidden and unfair tax on poor and middle class households, and the Budget presentation asserts that government policy has reduced inflation to a substantially lower multi year average, moderating price burdens on essential goods and services. The Reserve Bank has lowered retail inflation projections for the latter half of the fiscal year amid expectations of normal monsoon and moderate food prices, and the Monetary Policy Committee will meet to determine bi monthly monetary policy settings.

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The Budget for New India will energise the nation, says PM

February 1, 2019

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The Budget for New India will energise the nation, says PM

Budget will empower the poor, give a boost to the farmer and an impetus to economic growth: PM

12 crore farmers and their families, 3 crores middle class taxpayers will be directly benefitted: PM  

Farmers having land under 5 acres will be greatly helped by the PM Kisan Nidhi

Unorganised sector’s interests to be safeguarded more by the PM Shram Yogi Man Dhan Yojana

Posted On: 01 FEB 2019 4:41PM by PIB Delhi

Prime Minister Narendra Modi has lauded the budget as the budget for New India which will energise the nation.

In a series of Tweets and the statement  after the presentation of interim budget 2019-20, PM said that over 12 crore farmers and their families, over 3 crores middle class tax payers professionals and their families and 30-40 crore labourers will gain thanks to the  Budget for New India.

PM said, the development initiatives of the NDA government have touched several lives which have been reflected in the budget proposals from farmer welfare to middle class, from income tax relief to infrastructure, from manufacturing to MSME, from housing to healthcare and from the increased pace of development to the New India,

He expressed happiness that it is good to see more people being removed from the shackles of poverty. Our Neo-middle class is rising and so are their dreams. PM congratulated the middle class for the relief in taxes and said, I   salute the middle class for their stellar contribution towards the development of the nation.

About the pro-farmer initiatives in the budget, he lamented that for years, many initiatives have been initiated for farmers but sadly, lot of farmers never came under the ambit of these schemes. He said that PM Kisan Nidhi is a historic step for farmer welfare which will help the farmers who have under 5 acres of land. PM added that the animal husbandry sector, fisheries have been taken care of in the Budget for New India.

Underlining the importance of safeguarding the interests of the unorganised sector, he said PM Shram Yogi Man Dhan Yojana will be of great help. This sector needed more safeguarding of their interests and the Budget for New India has done so. Ayushman Bharat Yojana and social security schemes are also going to touch their lives, PM added.

PM summed it up saying that it is essential to ensure the benefits of development reach all sections of society. He said,” The budget will empower the poor, give a boost to the farmer and an impetus to the economic growth.”

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