New Delhi: Newly appointed Finance Minister Nirmala Sitharaman on Friday presented the first budget of the second term of the Narendra Modi government.

It was the maiden budget for Sitharaman, who became the second woman finance minister after Indira Gandhi to do so in the history of independent India.

Sitharaman presented the full-year budget for the year ending March 2020.

Here are LIVE updates:

11:27 am: In 2015, UDAY was launched for financial and operation turnaround of DISCOMs. We're examining performance and it'll be improved. We'll work with state governments to remove barriers, cross subsidy, surcharges, undesirable duties on open access sales, or captive generation for industrial and bulk power consumers.

11:25 am: Sitharaman said that comprehensive restructuring of National Highways Programme will be done, to ensure the creation of National Highways Grid of desirable capacity.

She also added that the Government envisions using rivers for cargo transport which will also decongest roads and railways.

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“Railway infrastructure would need an investment of Rs 50 lakh crores between 2018 and 2030. Public Private Partnership will be used to unleash faster development and the delivery of passenger freight services,” she added.

11:20 am: “We don't look down upon legitimate profit earning. Gone are the days of policy paralysis and license quota control regime. India Inc are India's job creators, nation's wealth creators. Together with mutual trust we can gain, catalyse past and attain sustained growth,” Sitharaman said in Budget speech.

11:18 am: Schemes such as 'Bharatmala', 'Sagarmala' and UDAN are bridging the rural and urban divide, improving our transport infrastructure.

11:12 am: Sitharaman said that the Indian economy will grow to become a USD 3 trillion economy in the current year itself. It is now the sixth largest in the world. 5 years ago it was at the 11th position.

“It took us over 55 years to reach USD 1 trillion dollar economy. But when the hearts are filled with hope, trust and aspiration, we in just 5 years, added USD 1 trillion,” she added.

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11:10 am: She said an Urdu couplet: 'Yakeen ho to koi raasta niklata hai, hawa ki ot(protection) bhi le kar charagh jalta hai'

Chanakya Neeti sutra said 'Kaarya purusha kare na lakshyam sampa dayate'. It means with determined human efforts the task will surely be completed.

11:09 am: “The first term of PM Narendra Modi led NDA government stood out as a performing government and between 2014 to 2019; it provided a rejuvenated centre-state dynamics, cooperative federalism, GST council and strident commitment to fiscal discipline,” said Sitharaman.

11:05 am: While presenting the Union Budget, Sitharaman said, “The recent election was charged with brimming home and desire for a bright and stable 'New India'. Voter turnout was highest; every section came to stamp their approval for performing Government.”

11:00 am: Finance Minister Nirmala Sitharaman presents Union Budget for Modi 2.0 government.

10:50 am: Union cabinet approves Budget 2019. It will be presented by Finance Minister Nirmala Sitharaman at the Lok Sabha shortly.

10:37 am: Parents of Finance Minister Nirmala Sitharaman - Savitri and Narayanan Sitharaman - arrive at the Parliament.

10:35 am: Union Cabinet meeting begins in Parliament.

10:30 am: Copies of Budget 2019 have been brought to the Parliament.

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10:15 am: Finance Minister Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at the Parliament.

09:40 am: As per tradition, Finance Minister Nirmala Sitharaman calls on President Ramnath Kovind before presenting the Union Budget.

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09:30 am: “It is in Indian tradition. It symbolizes our departure from slavery of Western thought. It is not a budget but a 'bahi khata'(ledger),” said Chief Economic Advisor Krishnamurthy Subramanian on Nirmala Sitharaman keeping budget documents in four fold red cloth instead of a briefcase.

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Read | Union Budget 2019: Breaking tradition, Sitharaman leaves office without briefcase

09:10 am: Finance Minister Nirmala Sitharaman, MoS Finance Anurag Thakur, Finance Secretary S C Garg, Chief Economic Advisor Krishnamurthy Subramanian and other officials outside Finance Ministry.

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08:46 am: Finance Minister Nirmala Sitharaman arrives at Ministry of Finance.

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08:45 am: MoS Finance Anurag Thakur offers prayers ahead of Budget 2019.

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The Budget speech began at 11:00 am with Sitharaman addressing to the speaker of Lok Sabha.

Usually the duration of the presentation ranges from 90 to 120 minutes.

The Railway Budget was also be presented on Friday along with the Union Budget. This practice was also begun in the year 2016, where the practice of presenting the rail budget separately was discarded.

The Finance Minister on Thursday tabled in Parliament the pre-Budget Economic Survey for 2018-19, which projected the state of the economy and outlined its challenges. The survey was released by Chief Economic Adviser Krishnamurthy Subramanian on Thursday.

This will be the 89th Union budget, which is the financial statement of the government, detailing its revenue and expenditure in the past, as well as estimated spending and projections for the coming year.