Budget 2019 Live Updates: Direct income support of Rs 6,000 per year to small farmers, says FM Goel
New Delhi: Finance Minister Piyush Goyal speaking in Parliament
Finance Minister Piyush Goyal is presenting the NDA government's interim budget, two months ahead of the general elections. All eyes are on the Budget presentation and Mr Goyal's speech as the government announced sops for common man, farmers and traders.
For the PM Modi Cabinet, which is facing increasing criticism over several issues like rising farmer distress, loss of jobs and a lower growth rate, the Budget will be a do or die attempt. The government is likely to be focused on wooing its three key constituencies -- farmers, the middle class-women-senior citizens segment and small businesses.
Follow Union Budget 2019 LIVE here.
Goyal, who examined the final copy of the interim budget document on Thursday evening, started his Budget 2019 speech in the Lok Sabha at 11 am. Goyal was appointed interim Finance Minister on January 23 with Arun Jaitley undergoing treatment in the United States.
Here are the Live Updates:
Govt has already provided 6 crore of targeted 8 crore gas connections under the Ujjawala scheme: FM
Will benefit 10 crore workers in unorganized sector, may become the world's biggest pension scheme for unorganized sector in five years: FM Piyush Goyal
Mega Pension Yojana, namely Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of 3000 rupees per month, with contribution of 100 rupees per month, for workers in unorganized sector after 60 years of age: FM Shri Piyush Goyal
50% of the GDP comes from sweat and toil of 42 crore workers in unorganized sector: FM Shri Piyush Goyal
Gratuity limit increased from 10 lakh to 30 lakh rupees: FM
High growth and formalization of economy has resulted in increased EPFO membership by 2 crore in last two years: FM Piyush Goyal
In place of rescheduling of crop loans, all farmers severely affected by severe natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment: FM Piyush Goyal
2% interest subvention to farmers pursuing animal husbandry and fisheries: FM Piyush Goyal
Increased allocation for Rashtriya Gokul Mission to 750 crore in current year: FM Piyush Goyal
This initiative will benefit 12 crore small and marginal farmers, at an estimated cost of Rs. 75,000 crore, this will enable farmers to earn a respectable living: FM Piyush Goyal
Under Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 rupees per year for each farmer, in three installments, to be transferred directly to farmers' bank accounts, for farmers with less than 2 hectares land holding: FM Piyush Goyal
The scheme will be implemented from December 1, 2018: FM
To provide assured income support for small and marginal farmers, Pradhan Mantri Kisan Samman Nidhi has been approved: FM Piyush Goyal
The 4R approach and a number of measures have been implemented to ensure clean banking : FM Piyush Goyal 1.Recognition, 2.Resolution, 3.Recapitalization, 4.Reforms
For welfare of farmers and for doubling their income, historic decision taken to increase MSP by 1.5 times the production cost for all 22 crops: FM
22nd AIIMS to be set up in Haryana: FM Piyush Goyal
21 AIIMSs operating or being established, 14 of these have been announced since 2014: FM Piyush Goyal
Ayushman Bharat, the world's largest healthcare programme, launched to provide medical care to nearly 50 crore people, resulting in 3,000 crore savings by families of poor sections: FM Piyush Goyal
During 2014-18, 1.53 crore houses have been constructed under PM Awas Yojana: FM Piyush Goyal
Pace of construction of rural roads has been tripled under our tenure: FM
From empty promises in the past, targeted expenditure has been undertaken to improve quality of life in villages; we aim to bring development, preserving the soul of villages: FM
India is solidly back on track and marching towards growth and prosperity: FM Piyush Goyal
1,70,000 crore spent for bringing food at affordable rates to poor people: FM
Efforts taken to bring full representation for economically weak backward classes, by giving them reservation in jobs and education: FM
As a tribute to Mahatma Gandhi, world's largest behavioural change movement Swachh Bharat initiated; more than 98% rural sanitation coverage has been achieved; more than 5.45 lakh villages declared ODF: mindset change achieved, becoming a Jan Andolan: FM
Efforts have been initiated to bring full representation for economically weak backward classes, by giving them reservation in jobs and education, says FM Goel
Confident that given the pace of reforms in banking sector, other banks too will recover: FM
Recapitalization of banks amounting to 2.6 lakh crore has been done: FM
Close to 3 lakh crore already recovered in favour of banks and creditors, big defaulters too not spared by our government: FM
Number of measures implemented to ensure clean banking, a resolution friendly mechanism has been instituted for recovery of non-performing loans: FM
The next-gen reforms in last five years have set the stage for decades of high growth: FM
Fiscal deficit has been brought down to 3.4% in the revised estimate of 2018-19: FM
Hamara sarkar ne kamar tod mehngai ki kamar hi tod di: Piyush Goel
Inflation is a hidden and unfair tax; from 10.1% during 2009-14, we have broken the back of back-breaking inflation. Inflation in December 2018 was just 2.1%: FM: FM
I can proudly say India is back on track and moving towards progress and prosperity, says Goel
They'll try to introduce populist schemes in the Budget keeping an eye on Lok Sabha polls. Budgets they've presented so far haven’t really benefitted general public. Only ‘Jumlas’ will come out today. They've only 4 months when will they implement the schemes?: Mallikarjun Kharge, Congress
The last five budgets have been dedicated to the farmers, the government's sixth budget will also be for the farmers, it will empower them: Radha Mohan Singh, Minister of Agriculture and Farmers' Welfare
Sensex up by 151.44 points, currently trading at 36,408.13
The way the government has increased the investment in railways, from installing CCTV cameras to WiFi, I believe further investment in railways will certainly be increased: Manoj Sinha, Minister of State for Railways
#WATCH Finance Minister Piyush Goyal arrives at the Parliament with the #Budget briefcase. He will present the interim #Budget 2019-20 at 11 am #Budget2019 pic.twitter.com/4sCsHZUCBI
— ANI (@ANI) February 1, 2019
Finance Minister Piyush Goyal arrives at the Parliament with the Budget briefcase.
The Interim Budget, also known as a vote on account, will seek the Parliament’s nod for meeting the expenditure for the first six months of new fiscal—2019-20. A full-fledged Budget will be presented in Parliament once the new Central government is formed after the General Elections, due in March-April.