Every year, India awaits the union budget which decides the fate of daily life. This budget, just ahead of the 2019 general election, will be the last full budget by the ruling party, BJP. It is expected the finance minister, Arun Jaitley, will make announcements which will make lives easier and happier for people across the country. For the Mumbaikars, this union budget can bring relief for transport and other government facilities. It is worth mentioning that since last year, the government has started the tradition of presenting rail and finance budget together, which will be continued this year too.
Here are the LIVE updates:
12:36 PM: Exemption on interest income increased to Rs 50,000 from Rs 10000, and the same applies to all FD schemes
12:32 PM: Income tax slabs to remain the same. No changes in the taxes
12:27 PM: Number of taxpayers increase from INR 6.4 crores to INR 8.27 crores
12:19 PM: Revised fiscal deficit estimate for 2017-18 is 3.5% of GDP, fiscal deficit of 3.3% expected for 2018-19
12:16 PM: Salary of the President, Vice President, and Governers will be increased. Salaries for MP will be revised every five years keeping the market inflation in mind.
12:14 PM: Government will look into the matter to eliminate cryptocurrencies from the country, on a serious note.
12:12 PM: 5 lakh wi-fi hotspots to be set up in rural areas to provide easy internet access
12:10 PM:
4267 unmanned railway crossing will be eliminated in next two years. All railway stations and trains will be provided WiFi and CCTVs progressively. #NewIndiaBudget
— RSPrasad Office (@OfficeOfRSP) February 1, 2018
12:08 PM: Government will be setting up specialised railway university in Vadodara, to improve education and training related to new technology in the sector.
12:07 PM: National Highways exceeding 9,000-km will be completed in 2018-19
12:05 PM: Around 56 unserved airports and 31 unserved helipads will be used to improve facilities of air transport for civilians.
12:03 PM: Redevelopment of 600 major railway stations will be ensured. Transport system in Mumbai will be expanded
12:01 PM:
#Budget2018: @arunjaitley recognises flagship Govt schemes like #MakeInIndia, @startupindia and @_DigitalIndia as major drivers in shifting India into a knowledge economy. @CimGOI
— Make in India (@makeinindia) February 1, 2018
12:00 PM: Escalators will be installed in stations with more than 25,000 footfall, and Airport capacities will be upgraded to ensure 1 billion trips
11:59 AM: INR 1,48,528 crores will be the capital expenditure allocated for Indian Railways in 2018-19
11:58 AM:
#Budget2018: #AyushmanBharat will ensure #OneIndia, #OneTreatment, scheme to be paperless, cashless and portable countrywide: NITI CEO @amitabhk87 #NayiNITINayiDishaNayaBharat
— NITI Aayog (@NITIAayog) February 1, 2018
11:57 AM: Government to contribute 12% of wages, for the next three years, for new employees in EPF
11:57 AM:
70 lakh formal jobs have been created this year. Govt will contribute 12% of the wages as EPF in all sectors for the next three years. Contributions from women employees will be brought down from 12% to 8%. #NewIndiaBudget
— RSPrasad Office (@OfficeOfRSP) February 1, 2018
11:55 AM:
Govt will contribute 12% of wages of new employees in EPF for all sectors for the next 3 years : FM @arunjaitley#Budget2018 #NewIndiaBudget #BudgetWithDDNews pic.twitter.com/RP9otSh8nH
— Doordarshan News (@DDNewsLive) February 1, 2018
11:54 AM: The government will ensure additional measures to improve and grow startups in the environment sectors
11:52 AM: World's largest govt funded healthcare programme will be launched by providing INR 5 lakh per family, per year for secondary & tertiary needs, in order benefit 50 cr people
11:51 AM: INR 56,619 cr and INR 39,135 cr will be kept aside for SC welfare
11:50 AM: Government will allocate INR 1 lakh crore in next 4 years in the education sector to revive infrastructure and systems
11:47 AM:
Technology will be the biggest driver in improving the quality of education. We propose to increase the digital intensity in education and move gradually from blackboard to digital board: FM @arunjaitley #Budget2018 #NewIndiaBudget #BudgetWithDDNews pic.twitter.com/rpgKG183wP
— Doordarshan News (@DDNewsLive) February 1, 2018
11:46 AM: 1 crore houses to be built under Pradhan Mantri Awas Yojana in rural areas
11:44 AM: INR 5750 crores will be allocated to National Livelihood Mission to help women from the self-help group
11:44 AM: INR 1200 crore for comprehensive healthcare scheme
11:42 AM: 24 new government hospitals to be set up.
11:39 AM: 600 crores to all TB patients to enhance nutritional support
11:35 AM: INR 200 crores will be allocated to support small and cottage industries related to Aromatic and related industries
11:32 AM: FM announces ₹allocation of 500 crores for Operation Green
11:30 AM: Fishery and Aquaculture Infrastructure Development Fund and Animal Husbandry Infrastructure Fund to be set up - total corpus 10,000 crore rupees
11:25 AM: Govt plans to construct INR 2 crores more toilets under Swachh Bharat Mission: Arun Jaitley
11:20 AM: INR 2000 crore fund will be raised to upgrade infrastructure in agri-marketing
11:18 AM:
Jaitley: MSP for Kharif to be 1.5 times of the production cost
— Rajya Sabha TV (@rajyasabhatv) February 1, 2018
MSP for Kharif to be 1.5 times of the production cost
11:14 AM: Modi government has and will be committed to the welfare of farmers, with an aim to make a paradigm shift. Under PM Modi leadership, we ensure to double farmer income by 2020.
11:12 AM: We will keep the lives of farmers in mind, and this budget will focus on
11:09 AM: The government has focused on improving lives for lower and middle-class families, and it will continue to do so.
11:08 AM: Budget 2018 will focus on agriculture, caring for senior citizens, education, and infrastructure. This decision is taken keeping PM Narendra Modi's thought and vision in mind.
11:05 AM: Indian economy will soon see a growth. Over the last 3 years, the GDP saw a 7.4% growth and is focused to achieve 8% growth
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Country's stock exchanges have shown a rise on Thursday, just before the budget. The Sensex climbed 36,125.69 and the Nifty also saw trading at around 11,061.20 with an increase of 33.50 points at the same time. Even before the budget began, Modi government has given a relief to a common man and cut the prices of subsidized cooking gas cylinders from February 1. Now people of all metro cities may save ₹4-5 on a gas cylinder without subsidy.
Increasing the cans of AC locals, focus on technology, improvement in machines for track maintenance, improvement in security, construction of a new corridor between Panvel-Virar, Virar-Dahanu Corridor etc., may be helpful for the city of Mumbai, if announced.
Members present at the Lok Sabha paid tribute to Chintaman Vanga, to sitting member, who passed away on January 30. As per tradition, the session should have been adjourned, however, keeping the importance of budget in mind, the session would continue for the day.
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