Budget highlights: Super rich to be taxed more, fuel tax increases

PM Narendra Modi hailed Finance Minister Nirmala Sitharaman's maiden Budget as a 10-year vision. Here are the key takeaways of Budget 2019

5:06 PM

Budget 2019: Rs 400 crore for world class educational institutions

Finance Minister Nirmala Sitharaman said the government will bring in a New National Education Policy to transform India's higher education system to one of the best in the world.

 

She highlighted that while there was not a single Indian institution in the top 200 in the world university rankings five years back, there were three now - two IITs and IISc Bengaluru.

 

"This has been achieved due to concerted efforts by the institutions to boost their standards and also project their credentials better," she said.

5:05 PM

Budget 2019: Rs 62,398 cr outlay for health sector; Rs 6,400 cr earmarked for AB-PMJAY

Sitharaman announced Rs 62,659.12 crore outlay for the health sector in the 2019-2020 fiscal, the highest in the last two financial years. The health outlay for this financial year saw an increase of around 19 per cent over the 2018-2019 fiscal when it was Rs 52,800 crore. The budgetary allocation for the sector is Rs 60,908.22 crore, with Rs 6,400 crore earmarked for the centre's flagship health insurance scheme Ayushman Bharat- Pradhan Mantri Jan Arogya Yojna (AB-PMJAY).

4:56 PM

How Modi 2.0 Budget impacts your pocket: A quick view in just 5 minutes

Listen to this podcast for the key announcements on personal tax and sectors by the finance minister and how it impacts your pocket.

 

4:43 PM

India reached $2 trillion-mark before Modi govt came to power, says Congress

4:41 PM

Budget 2019: The key highlights in the transport sector are as follows

* India's first indigenously developed payment ecosystem for transport, based on National Common Mobility Card (NCMC) standards, launched in March 2019.

 

* Inter-operable transport card runs on RuPay card and would allow the holders to pay for bus travel, toll taxes, parking charges, retail shopping.

4:35 PM

Winners and losers: Who received how much in Nirmala Sitharaman's Budget

Here’s a list of winners and losers from the announcements today:

WINNERS

 

State-Run Banks

Rural India

Aviation

Renters

Real Estate & Construction

 

LOSERS

 

Jewellers, Gold Importers

Defense

High and Middle-Income Earners

Auto Parts

Rivers & environment

4:31 PM

Budget 2019: Finance Minister has been very benign to the Railways, says Goyal

Union Minister Piyush Goyal to news agency ANI: Finance Minister has been very benign to the Railways. She has laid out a vision of investment of nearly Rs 50 lakh crore over the next 10 years. I would really like to thank Finance Minister for strengthening the resolve of the Railways.

4:30 PM

Budget 2019: Most of the Rs 70,000 cr for PSBs will be for growth capital, says Subhash Chandra Garg

Most of the Rs 70,000 crore for PSBs will be for growth capital, said Subhash Chandra Garg, Secretary, Department of Economic Affairs.

4:28 PM

Budget 2019: Rs 1.19 lakh crore to MHA; modest 5.17 per cent hike in budget allocation

The Home Ministry has been allocated Rs 1,19,025 crore in the Union Budget 2019-20, Rs 5,858 crore more than the last fiscal with special focus on improving police infrastructure, border areas and modernisation of police forces.

 

The ministry, currently headed by Amit Shah, received a modest 5.17 per cent hike over the revised estimate of 2018-19 amounting to Rs 1,13,167 crore.

 

The Delhi Police, which maintains law and order in the national capital, has been allocated Rs 7,496.91 crore while Rs 2,129 crore has been proposed for the development of infrastructure along the Indo-Pak, Sino-Indian and other international borders.

4:27 PM

Finance minister Nirmala Sitharaman, in her budget speech, said the government envisions India to leapfrog into a global electric vehicle manufacturing hub.

4:13 PM

The budget has been presented with a 10-year vision in mind: Nirmala Sitharaman

4:09 PM

Soon, a new TV show on start-up issues on Doordarshan

Consistent with all budget announcements under the Modi government, start-ups received a special mention this time as well.

 

The government has proposed to launch a television programme for promoting start-ups, finance minister Nirmala Sitharaman said in her budget speech on Friday. Read more

4:07 PM

How Union Budget 2019 will impact you

In the over 2 hour-long speech, there were several announcements that will directly impact most citizens.


Click here for top proposals that will impact you

4:01 PM

Budget 2019:Congress slams government over the budget proposals and asked if a "mundane jugglery of acronyms" can pass off for vision for a New India

3:57 PM

Budget 2019 is fraudulent, based on jugglery, says Sitaram Yechury