Budget 2018 LIVE: LTCG tax upsets market, Jaitley punctures Bitcoin bubble

Finance Minister Arun Jaitley delivered Union Budget 2018-19 speech. Get live updates on Budget 2018

4:26 PM

Twitter India registers over 14 lakh budget-related posts

Twitter India recorded over 14 lakh budget-related conversations in the past week (January 26 to February 2), with healthcare being the most talked about topic followed by demonetisation.

4:25 PM

How Jaitley punctured Bitcoin mania: Global prices slid 25% after Budget

Before Jaitley spoke about Bitcoin in his Union Budget speech on Thursday, the popular cryptocurrency was trading in the international market at $10,232. And then came the minister’s statement: "The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate the use of these crypto assets in financing illegitimate activities or as part of the payment system.” Suddenly, the price started falling and it dropped to $7,614 by Friday evening before recovering later.

11:07 AM

Budget 2018: Jaitley told don't kill cryptocurrencies in India; here's why

 

Bipin Preet Singh, Co-founder of e-wallet MobiKwik, reacted that "the government should consider regulating cryptocurrencies than curbing their use entirely".

11:05 AM

Jaitley gives Defence budget 8% hike, unlikely to even cover rise in cost

The 2018-19 Budget has raised defence allocations from the current year’s revised estimate of Rs 3.74 trillion to Rs 4.04 trillion, an increase of Rs 303.61 billion, or 8.1 per cent, which, analysts say, is insufficient to even cover year-on-year inflation in manpower and equipment costs.

11:04 AM

Niti Aayog vice chairman Rajiv Kumar backs Budget 2018

 

Rajiv Kumar said that 'It's up to the Finance Minister and the Prime Minister to take a call on suggestions given to them, but if anyone is under the impression that this last budget will be a populist one then they're wrong.

10:58 AM

Kerala Budget: GST disappointing, benefits only corporates, says state FM

 

The Kerala government on Friday said GST was highly disappointing and that it benefited only corporates. Meanwhile, the state, which tabled its Budget for 2018-19, has said fiscal deficit will be reduced to 3.1 per cent in 2018-19, while revenue deficit will be reduced to 1.6 per cent

 

Thomas Isaac in the budget speech said the main issue with GST is lack of a full-fledged administrative system.

 

"Demonetisation was an ‘Ockhi’ (cyclone) on the economy. End consumers are not getting the actual benefits of GST as corporates are making the most out of this," he said.

10:54 AM

Jaitley budgeted Rs 2.48 billion for 2018-19 for the purpose of conducting elections. The EC had spent Rs 1.18 billion on conducting elections in the current fiscal, according to revised estimates of 2017-18.

10:53 AM

Polls on cards? FM Jaitley increases election budget by 110 per cent

 

Finance Minister Arun Jaitley gave 110 per cent more funds to the Election Commission (EC) in the financial budget for 2018-19 for the purpose of conducting elections in the country. This has given rise to the speculation that the Union government may advance the general elections scheduled in March next year.

10:48 AM

Budget 2018: FM Jaitley announces new tunnel in Arunachal to counter China

 

Finance Minister Arun Jaitley today announced the government's plan to build a tunnel through the Sela Pass located at an elevation of 13,700 ft which will ensure faster movement of troops in Tawang, a strategically-located town in Arunachal Pradesh bordering China.

 

The defence ministry said the approval for the construction of Sela pass in Arunachal Pradesh has given further impetus to the defence preparedness.

10:41 AM

No Other country has 5% tax slab, says Arun Jaitley to India Inc

10:40 AM

Investment tripled in rural, roads, housing in the last 3 years: FM to India Inc

10:38 AM

Nifty Midcap Index losses almost 1000 points in trade as Arun Jaitley addresses the industry

10:36 AM

Sensex slips over 500 pts; FM addresses India Inc post Budget

10:36 AM

India is out of high inflation era; oil prices are a matter of concern, Arun Jaitley tells India Inc

10:35 AM

A committee is looking at NPAs in SMEs, there will be a separate set of regulations: Arun Jaitley tells India Inc