Budget 2019 | The Asian Age

Saturday, Apr 20, 2024 | Last Update : 02:12 AM IST

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Out of the total allocation, Rs 1,08,248 crore has been set aside for capital outlay to purchase new weapons, platforms and military hardware. (Representational Image)

Budget 2019: Rs 3.18 lakh crore allocated to Defence budget

The outlay for defence sector almost remained unchanged compared to what was allocated in the interim budget on February 1.

05 Jul 2019 5:52 PM

Terming the connectivity as the lifeblood of the economy, Nirmala Sitharaman announced a slew of steps to scale up India's infrastructure programmes including augmenting 1,25,000 km of rural roads under the Pradhan Mantri Gram Sadak Yojana at a cost of Rs 80,250 crore and creating a national highways grid.

Budget 2019 stresses on massive infra investments to grow into USD 5 trillion economy

Infrastructure financing needs have been estimated at around Rs 20 lakh crore a year, said Nirmala Sitharaman.

05 Jul 2019 5:48 PM

It was proposed to increase duty on other alloy steel and wire of other alloy steel (other than INVAR) to 7.5 per cent from 5 per cent at present. (Photo: Representational)

Budget 2019: Govt hikes customs duty on stainless steel items, alloy steel

The current customs duty on stainless steel products is 5 per cent.

05 Jul 2019 5:32 PM

Finance Minister Nirmala Sitharaman (Photo: ANI)

Budget 2019: Here's how the industry reacted to Modi 2.0's first budget

Banking high on infrastructure, the government aimed to collect more revenue to increase growth.

05 Jul 2019 5:29 PM

Diesel is priced at Rs 64.33 a litre in Delhi and Rs 67.40 per litre in Mumbai. (Photo: Bunny smith)

Budget 2019: Petrol price to rise by Rs 2.5, diesel by Rs 2.3 after FM raises tax

A litre of petrol costs Rs 70.51 in Delhi and Rs 76.15 in Mumbai.

05 Jul 2019 5:08 PM

Budget 2019: Govt proposes National Research Foundation, Sports Education Board

To boost jobs, the government announced 10 million youth to take skill training under the Kaushal Vikas Yojana.

05 Jul 2019 5:00 PM

Besides PM-KISAN, the government has proposed to increase the allocation for the Pradhan Mantri Fasal Bima Yojana (PMFBY) to Rs 14,000 crore for the current fiscal against the revised estimate of Rs 12,975.70 crore for the 2018-19. (Representional Image)

Budget 2019: Govt raises budget allocation to agri ministry by 78 pc in FY'20

PM-KISAN aims to give Rs 6,000 annually in three equal installments to 12.6 crore small and marginal farmers.

05 Jul 2019 4:58 PM

The NPS is a voluntary, defined contribution retirement savings scheme for government employees as well as for those working in the private sector.

Budget 2019: Govt proposes to separate NPS Trust from PFRDA

The proposal to separate the two job roles was under consideration for last few years.

05 Jul 2019 4:49 PM

The expenditure budget of Rs 1,159.05 crore in the 2019-20, includes Rs 1,097 crore on central sector schemes/projects and Rs 23.15 crore on Coal Mines Pension Scheme. (Representational Image)

Budget 2019: Coal Ministry sees 48 pc jump in allocation to Rs 1,160 cr for 2019-20

The bulk of increase in the Budget allocation for 2019-20 is towards central sector schemes.

05 Jul 2019 4:46 PM

‘The government aims to bring greater ease of living in the lives of citizens. 35 crore LED bulbs have been distributed under Ujala leading to cost saving of Rs 18,341 crores annually,’ Sitharaman said. (Photo: ANI | Twitter)

Budget 2019: LED bulbs distributed under Ujala scheme saving Rs 18,342cr annually

She further said that India is going to be free of incandescent bulbs and govt will promote use of solar stoves and battery chargers.

05 Jul 2019 4:33 PM

The government aims to set up Common Facility Centres (CFCs) to facilitate cluster-based development for making traditional industries more productive, profitable and capable for generating sustained employment opportunities. (Photo: File)

Budget 2019: New clusters to increase productivity of traditional industries

Over 50,000 artisans will be able to join the economic value chain under new clusters which will set up by the government.

05 Jul 2019 4:27 PM

The Union Budget also provides for exempting import of certain defence equipment from basic customs duty, reducing customs duty on certain raw materials and capital goods, and rationalisation of export duty on raw and semi-finished leather. (Photo: Representational)

Budget 2019: GST processes to be simplified, automated GST refund to be implemented

The Budget proposes to move to electronic invoice system wherein invoice details will be captured in central system at the time of issuance.

05 Jul 2019 4:20 PM

Chief Economic Adviser K V Subramanian had also on Thursday said that cost of capital internationally is low while liquidity is very high there.

Govt to start raising part of its gross borrowings from external markets: FM

The government would start raising a part of its gross borrowing programme in external markets, said Nirmala Sitharaman.

05 Jul 2019 3:49 PM

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman presents Union Budget 2019-20. (Photo: File)

Budget 2019: Highlights from FM Nirmala Sitharaman's maiden speech

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman made her maiden Budget Speech and presented it in Lok Sabha.

05 Jul 2019 3:43 PM

The collection from the sector in the last fiscal fell short of Rs 9,416.42 crore at Rs 39,245 crore from the budgeted provision of Rs 48,661.42 crore.

Budget 2019: Govt enhances revenue collection from telecom sector to Rs 50,519 cr

Receipts from the telecom sector mainly relate to the licence fees from operators and spectrum usage charges.

05 Jul 2019 3:43 PM

According to the Budget documents, the proposed scheme covers past disputes of taxes which have got subsumed in GST.

Budget 2019: Amnesty scheme for excise, service tax cases to unlock Rs 3.75 lakh crore

The relief proposed under scheme varies from 40 pc to 70 pc of the tax dues for cases other than voluntary disclosure cases.

05 Jul 2019 3:26 PM

Budget 2019: What is getting more expensive, what's cheaper?

A large number of imported items like books, plastic items and imported auto parts are set to be costlier.

05 Jul 2019 3:25 PM

Govt will provide a one-time partial credit guarantee to PSBs to buy high-rated pooled assets of financially sound NBFCs.

Budget 2019: Govt to provide credit guarantee to PSBs to buy NBFC assets

The NBFC sector is currently undergoing a liquidity hurdle with a spate of defaults of companies.

05 Jul 2019 3:06 PM

Direct tax revenue has significantly increased by over 78 per cent from Rs 6.38 lakh crore in the financial year 2013-14 to around Rs 11.37 lakh crore in the financial year 2018-19.

Budget 2019: High-end income group people need to pay 3 pc to 7 pc more annually

Budget 2019 proposes to make return filing compulsory for persons, who have deposited more than Rs 1 cr in a current account in a year.

05 Jul 2019 2:57 PM

According to the Budget for 2019-20 presented in Parliament by Finance Minister Nirmala Sitharaman, Goods and Services Tax collections will contribute 19 paise in every rupee revenue.

Budget 2019: For every rupee in govt kitty, 68 paise come from taxes

Corporation tax is the single largest source of income, contributing 21 paise to each rupee earned.