This Article is From Feb 28, 2015

Arun Jaitley Presents Government's First Full-Year Budget: Live Updates

Finance Minister Arun Jaitley starts presenting the Union Budget  2015 in the Parliament. Being termed as 'make or break', this is Arun Jaitley and the gove

Feb 28, 2015 21:53 (IST)
'Universally, people have acclaimed the fact that India needed the push for infrastructure investment': Coal Minister Piyush Goyal to NDTV


Feb 28, 2015 21:06 (IST)
Basic thought process is 'Sabka Saath, Sabka Vikaas, Sabka Laabh': MoS Finance, Jayant Sinha to NDTV


  • We have reset the fiscal architecture of the Indian government, put in place the beginnings of a universal safety net scheme.
  • You can't expect the execution to happen as the budget is read out... it happens the next day and the day after... we are a round the year government.
  • We have unleashed the third generation of reforms with this Budget.

Feb 28, 2015 21:04 (IST)
More political reactions on the Budget: The Negatives

Feb 28, 2015 20:57 (IST)
#Budget2015 - It is a watershed budget as it marks the beginning of cooperative federalism and empowerment of the States.
Feb 28, 2015 20:47 (IST)
Main focus of Budget is on the poor and under privileged: BJP's Ravi Shankar Prasad to NDTV


Feb 28, 2015 18:18 (IST)
A person with 7 lakh income doesn't have to pay any tax if he avails all exemptions: Finance Minister
Feb 28, 2015 18:06 (IST)
Author Chetan Bhagat in conversation with Finance Minister Arun Jaitley on the Budget


  • The national expenditure on all these sectors (social sector) will be much higher - states will spend more.
  • I tried to obliterate the distinction between pro-poor and pro-rich.
  • Our infrastructure is very weak, our manufacturing has to become internationally competitive.
  • Asking people to invest in savings by giving them tax benefits. I want domestic savings to go back to 36% from the present 30%.
  • How long can India be a pension-less society? We must become a pensioned society.

Feb 28, 2015 18:02 (IST)
More political reactions on the Budget
Feb 28, 2015 17:57 (IST)
Large sections of people left in the cold, this budget is being unkind to the poor, and this is the kindest thing I can say about the Budget: Chidambaram
Feb 28, 2015 17:51 (IST)

Taking a dig at the government's decision to dissolve the Planning Commission, P Chidambaram says, "Just like Planning Commission, looks like the government has done away with planning too"

Feb 28, 2015 17:45 (IST)
'The Budget Makes Some Very Tall Claims,' Says Former Finance Minister P Chidambaram



More than a 100 crore people live in this country who do not fall under the corporate sector and who do not pay taxes. A budget should acknowledge them. That's what's missing from this year's budget.
Feb 28, 2015 16:44 (IST)
Feb 28, 2015 16:05 (IST)
Mr Jaitley smiles and dismisses former Prime Minister Manmohan Singh's observation that the Budget lacks roadmap with a "thank you".



Need to phase out corporate tax exemptions; shall do gradually in conjunction with 5% reduction in corporate tax : Arun Jaitley
Feb 28, 2015 16:03 (IST)
Budget 2015: 'Good Intentions But No Roadmap,' Manmohan Singh Tells NDTV



"Mr Jaitley is a very lucky finance minister. He has inherited an economy which is in reasonably good shape... inflation is under control, not because of anything we have done, but because the international prices of petroleum and other commodities have gone down," Dr Singh, who is also an eminent economist, said.
Feb 28, 2015 14:20 (IST)
Finance Minister Arun Jaitley in a post-budget discussion



  • This year is my year, and I have to transparent.
  • The other investment destinations, barring the US are not doing well.
  • The world can not run on single engine.
  • The Economist says, 'This is India's chance to fly'
  • I increased Centre's spend on infrastructure by 70,000 crore.
Feb 28, 2015 13:46 (IST)

Feb 28, 2015 13:36 (IST)
Feb 28, 2015 13:34 (IST)
Home Minister Rajnath Singh on Mr Jaitley's Budget
Feb 28, 2015 13:22 (IST)
The Prime Minister reinstating the government's commitment to uplift the poor and provide social security for all citizens
Feb 28, 2015 13:20 (IST)
And more praise for the Finance Minister...
Feb 28, 2015 13:14 (IST)
What the Prime Minister has to say on Mr Jaitley's first full-year budget.

Feb 28, 2015 13:08 (IST)
Excise duty on cigarettes has been raised to 15 per cent and 25 per cent for different categories. This will make cigarettes costlier.
Feb 28, 2015 12:41 (IST)
Highlights of Mr Jaitley's Budget Speech: The Couplet that took a Jibe at Congress

Kuch to gul khilaye hain, kuch abhi khilane hain, par baagh mein ab bhi kaante kuchh puraney hain," (We have made some progress and are working towards achieving more goals, but there are some hindrances in the way.)
Feb 28, 2015 12:36 (IST)
Feb 28, 2015 12:35 (IST)
To conclude, it is no secret that the expectations from this budget has been high. Even our worst critics would agree, we have moved rapidly. We are committed to achieving what we have been voted in power for.



Feb 28, 2015 12:33 (IST)
Health insurance premium exemption raised to Rs 25,000 from Rs 15,000.
Feb 28, 2015 12:31 (IST)
Transport allowance given to all taxpayers, limit increased from Rs 800 to Rs 1600 per month.
Feb 28, 2015 12:27 (IST)
The excise duty on footwear having retail price of more than 1000 per pair has been reduced by 6 per cent.
Feb 28, 2015 12:25 (IST)
Budget 2015: Reduced taxes on Technical Services to 10% from 25%
Feb 28, 2015 12:24 (IST)
Arun Jaitley replaces wealth tax with additional 2% surcharge on super rich with annual income of over 1 crore rupees.
Feb 28, 2015 12:21 (IST)
The Finance Minister Announces increase in Visa On Arrival facility from 43 to 150 countries.
Feb 28, 2015 12:18 (IST)
Quoting PAN made mandatory for any sale exceeding Rs 1 lakh: Arun Jaitley.
Feb 28, 2015 12:15 (IST)
Government to bring new law to deal with black money, announces Arun Jaitley in Budget speech.
Feb 28, 2015 12:10 (IST)
Good news for Corporates: Corporate tax reduced from 30% to 25% over next four years.
Feb 28, 2015 12:06 (IST)
The budget allocation for the Defence Sector for the year 2015-16 is 246727 crore, increased from Rs 2 lakh crore.
Feb 28, 2015 12:04 (IST)
Finance Minister proposes setting up IIT in Karnataka; IIMs in J&K and Andhra Pradesh; AIIMS in J&K, Punjab, Himachal Pradesh and Assam.
Feb 28, 2015 11:53 (IST)
Employees contribution to the EPF should be optional, says Finance Minister Arun Jaitley
Feb 28, 2015 11:47 (IST)
Arun Jaitley seeks to allocate additional funds for the following:
  • MNREGA - Rs 5,000 crore
  • Child development scheme -  Rs 15,00 crore.
  • Child security scheme - Rs 500 crore.
  • In order to support security of women,I have decided to provide an additional 1000 crores to Nirbhaya fund.

Feb 28, 2015 11:39 (IST)
Social Security Schemes launched in the Union Budget 2015 by Mr Jaitley:

  • A large population of India is without insurance of any kind.
  • I will work towards creating a social security system for all Indians.
  • MUDRA bank with corpus of 20000 cr
  • 'PM MUDRA Yojana' - to prioritize SC, ST and OBC.
  • We will launch the 'Atal Pension Yojana'.
  • Atal Pension Yojana will provide a defined pension to the people, which will start at the age of 60.
  • I propose a new scheme of providing physical aids for senior citizens living below poverty line.
  • Propose the 'Nayi Manzil' scheme for the youth minorities.



Feb 28, 2015 11:28 (IST)
The Three Achievements of the government at the Centre in the last 9 months: Arun Jaitley
  •  Jan Dhan Yojna,
  • Coal Auctions
  • Swachh Bharat
Feb 28, 2015 11:27 (IST)
Further highlights from Mr Jaitley's budget speech.

  • Will meet the challenging fiscal target of 4.1% of GDP which we had inherited.
  • I will meet the fiscal deficit of 3 per cent in the next two years.
  • With fiscal space being squeezed have to  maintain the challenge of the need for fiscal discipline.
  • With the fiscal space reduced, the Government has decided to continue supporting important national priorities.
  • Public Investment needs to step in to catalyze the investment in PPP.
  • The budget reflects a considerable scaling of the government's investments.
  • We need to cut subsidies leakage and not the subsidies itself. We are in the process of rationalising subsidies.
  • 6335 crores has been so far transferred directly as LPG subsidies to consumers ... I am sure those who are better off and are in top tax brackets will give up LPG subsidy voluntarily.
  • Roadmap to achieve Fiscal deficit of 3% of GDP in three years: Target is 3.9% in 2015-16, 3.5% in 2016-17, 3% in 2017-18.
  • Our commitment to farmers run deep, an ambitious soil health card has been introduced to improve soil fertility.
  • Our government is committed to ensuring employment through MNREGA, 34699 crore allocated.
  • Our government truly believes that development has to be inclusive growth.
  • To support agricultural sector, I propose to allocate 25000 crore in 2015 to rural development fund:

Feb 28, 2015 11:24 (IST)

I am also mindful of the challenges that I have to deal with:Arun Jaitley

  1. Agriculture income
  2. Increasing investment in Infrastructure
  3. Manufacturing has declined, exports are stagnant
  4. Need for fiscal discipline
  5. Fiscal deficit
Feb 28, 2015 11:07 (IST)
Arun Jaitley starts the Budget Speech



  • I rise to present the Union Budget for the year 2015.
  • It is my belief that every rupee of state expenditure will help in the betterment of the people.
  • The credibility of the Indian Economy has been re-established.
  • In the last 9 months, our government has taken several steps to energise Indian economy.
  • We are a round the clock, round the year government.
  • Estimated GDP for 2014-15 is 4.2 per cent.

Feb 28, 2015 10:37 (IST)
Prime Minister Narendra Modi arrives at Parliament for Mr Jaitley's Budget speech at 11.00 am.


Feb 28, 2015 10:05 (IST)
Arun Jaitley's Budget Test: Today could be the most important Budget since the early 1990s, when India launched economic liberalization.


62-year old Mr Jailtey not only faces expectations of a huge population struggling for jobs, but financial markets as well, which have run sharply on hopes of big bang reforms.
Feb 28, 2015 09:46 (IST)
Mr Jaitley arrives at Parliament. He will make the Budget speech at 11.00 am.


Feb 28, 2015 09:42 (IST)
Feb 28, 2015 09:41 (IST)
Union Budget 2015: Sensex Soars, Stocks to Watch When Arun Jaitley Speaks



The BSE Sensex opened with strong gains on Saturday ahead of Finance Minister Arun Jaitley's first full-year Budget.
Feb 28, 2015 09:39 (IST)
On the day of what is being termed as the 'Make or Break' Budget, Arun Jaitley sports a startling blue bandh gala. Photo op - Mr Jaitley and the entourage.


Feb 28, 2015 09:39 (IST)
Arun Jaitley reaches Rashtrapati Bhawan. The Finance Minister meets the President ahead of presenting government's first full-year Budget.


Feb 27, 2015 18:41 (IST)
  • 2014-15 growth pegged at 7.4 per cent: Economic Survey
  • 2015-16 growth forecast more than 8%
  • Government committed to fiscal consolidation
  • Enhancing revenue generation is a priority
  • Foodgrain output in 2014-15 at 257.07 million tons
  • Foodgrain output will exceed the average production of last five years by 8.5 million tons
  • Food subsidy bill rises 20% in April-January 2014-15 at Rs 1.07 lakh crore
  • Inflation is showing declining trade
  • Worst clearly behind for the economy
  • India has reached a sweet spot - rare in the history of nations
  • India could be launched on a double digit medium-term growth trajectory
  • See room for monetary easing
  • See scope for big bang reforms

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