Union Budget 2019: Minute By Minute Live Updates Of Piyush Goyal's Interim Budget

"The government has proposed to increase allocation for the northeast region to Rs 58,166 crore this year. It will be a 21 per cent rise over the previous year," Piyush Goyal said.

Piyush Goyal: We are poised to become a 5 trillion dollar economy in the next 5 years and we aspire to become a 10 trillion dollar economy in the next 8 years #Budget2019 pic.twitter.com/do4xRpyg5g

— ANI (@ANI) February 1, 2019

"Within the next two years, assessment of all tax returns should be done electronically without any personal interface," Piyish Goyal said. "Direct tax collections up from 6.38 lakh crore in 2013-14 to almost 12 lakh crore; tax base up from 3.79 crore to 6.85 crore. All income tax returns to be processed within 24 hours."

Piyush Goyal: GST has been continuously reduced resulting in relief of Rs 80,000 crore rupees to the consumers; Most items of daily use are now in the 0%-5% tax bracket pic.twitter.com/kPEiysFXWI

— ANI (@ANI) February 1, 2019

Finance Minister Piyush Goyal says direct tax collections increased from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore; The tax base is up from Rs 3.79 crore to 6.85 crore

FM Piyush Goyal says that within nearly two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by officials.

Shram Yogi Maandhan - mega pension program for unorganised sector workers. Monthly Rs 3000 after attaining 60 years age. No poor worker need to toil after reaching d age of 60 years. Like employees they too can enjoy pension n spend time with grand children at home.

— Ram Madhav (@rammadhavbjp) February 1, 2019

Piyush Goyal: A single window clearance for filmmaking to be made available to filmmakers, anti-camcording provision to also to be introduced to Cinematography Act to fight piracy pic.twitter.com/qMsd6CB7Ji

— ANI (@ANI) February 1, 2019

This may prove to be one of the biggest announcements of today's budget

Piyush Goyal says allocation for the northeastern region has been proposed to be increased to Rs 58,166 crore in this year, it will be a 21% rise over the previous year.

FM Says, ""India is the fastest highway developer in the whole world, 27 km of highways are built each day. Projects stuck for decades have been completed. Sagar Mala will help faster handling of import and export cars. India now has over 100 operational airports. And when there is such progress, it is only natural that jobs are also created. Indian Railways has experienced the safest years in its history. All unmanned level crossings are completely eliminated on broad gauge networks." 

Finance Minister Piyush Goyal: An urgent action is needed to increase hydrocarbon production to decrease imports pic.twitter.com/5bV1rECF3I

— ANI (@ANI) February 1, 2019

Piyush Goyal says, ""For the first time, the defence Budget has been raised to over Rs 3 lakh crore," Piyush Goyal said. "Our soldiers who protect our borders are the pride and honour of the nation. In our election manifesto we promised one rank, one pension. We have resolved this and disbursed over Rs 35,000 crore in the last few years for our jawans." 

"To ensure cleaner fuel and health assurance, we embarked on PM Ujjwala Yojana, a programme to give eight crore free LPG connections to rural households, six crore connections given already," Piyish Goyal said.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Finance minister Piyush Goyal: The defence budget has enhanced beyond Rs 3 lakh crore <a href="https://twitter.com/hashtag/BudgetSession2019?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetSession2019</a> <a href="https://t.co/w91U1kWy5Z">pic.twitter.com/w91U1kWy5Z</a></p>&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1091220294713397248?ref_src=twsrc%5Etfw">February 1, 2019</a></blockquote>

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">FM Piyush Goyal: Our soldiers are our pride and honour; &#39;One Rank One Pension&#39;, which was pending for the last 40 years, has been implemented by us <a href="https://t.co/bw3dp1E3W3">pic.twitter.com/bw3dp1E3W3</a></p>&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1091219484378046464?ref_src=twsrc%5Etfw">February 1, 2019</a></blockquote>

"EPFO shows two crore accounts in two years. This shows formalisation of the economy. When there is such a high growth, jobs are created," Piyush Goyal said. Gratuity limit has been increased from Rs 10 lakh to Rs 30 lakh. Pension scheme for unorganised sector workers with monthly income up to Rs 15,000 will be given. Assured monthly pension of Rs 3,000 after they retire on reaching 60," he said.

Radhtriya Kamdhenu Aayog to be set up for cows. "The government will never step back from protection of the gau mata," Piyush Goyal said. A 2 per cent interest subvention for animal husbandry, fisheries and farmers have been announced.

"We told RBI to evaluate all banks and out their actual state in front of the nation. Because of our efforts, restrictions have been lifted on three banks. We ran a corruption-free government," Piyush Goyal said.

Unlike the last government, our government broke the back of back-breaking inflation. Inflation is a hidden tax on the poor. Last five years has seen India being recognised as a bright spot in global economy.

GDP growth

The economy has logged growth rates of 8.2 per cent and 7.1 per cent in the first and second quarters of fiscal year 2018-19 respectively.

Fiscal consolidation

Fiscal deficit - the amount of money by which a government's expenses in a year exceed its revenue - has already crossed the full-year estimate by more than 15 per cent in first nine months of 2018-19.

GST collections

The government aims to achieve GST collections worth Rs. 12.9 lakh crore in 2018-19. In the first three quarters of 2018-19, GST collections stood at Rs. 8,71,043 crore, official data shows.

Bad loans

Non-performing assets or bad loans remain an issue in the country's banking sector. Twenty one state-run banks in the country - holding two-thirds of assets in the sector - account for the bulk of the record $150-billion (around Rs. 11 lakh crore) of soured loans.

Trade

Trade deficit - which occurs when imports exceed exports - widened to $129.9071 billion in first eight months of financial year 2018-19 (April-November), from $106.3734 billion in the corresponding period a year ago, latest RBI data shows.

Piyush Goyal: I can confidently say, India is solidly back on track and marching towards growth and prosperity pic.twitter.com/0wLpbJvUYG

— ANI (@ANI) February 1, 2019

Delhi: Finance Minister Piyush Goyal begins budget speech in the Parliament #BudgetSession pic.twitter.com/VDCvHAxCRG

— ANI (@ANI) February 1, 2019

The finance minister will  present interim Budget 2019-20 in the Parliament today.