Arun Jaitley presents Union Budget 2018-19

01 Feb 2018

Here are the highlights:

12:53 CRISIL:Govt's 12% contribution to EPF for new employees
12:53 CRISIL: Liberalisation is a big boost to sector
12:53 CRISIL:Agri-commodity exports limited now
12:53 CRISIL: 18 architecture schools show construction sector importance to economy, govt
12:53 CRISIL: Rural demand is 33% of total cement demand
12:52 CRISIL: Rising rural income to improve demand for cement
12:51 CRISIL: India already world's largest shrimp exporter
12:51 CRISIL: Rs 10,000 cr for fisheries to boost seafood exports
12:51 CRISIL: Dedicated fund for affordable housing to improve formal finance penetration
12:51 Govt levies long-term cap gains tax of 10% for gains of over Rs 1 lakh
12:51 CRISIL: Out of a production of 22 MT in 2016, exports were just 1.3 MT
12:48 Propose to cut import duty on raw cashews to 2.5% from 5%
12:47 Increase in customs duty on mobile phones to 20% from 15%
12:46 Propose to amend income tax act for electronic assessments
12:46 Propose next FY health, education cess at 4%
12:45 Capital gains made on shares until Jan 31, 2018 grandfathered
12:44 Short-term capital gains tax continues to be 15%
12:43 Govt levies long-term capital gains tax of 10% for over Rs 1 lakh investments
12:41 Rs 19,000 cr revenue loss on direct tax
12:40 CRISIL: Asset monetisation will get fast-tracked
12:39 CRISIL: Liberalisation of agri exports to benefit the pulses sector
12:39 Deduction for senior citizens with critical illness raised to Rs 1 lakh
12:39 CRISIL: Of 2,000 APMCs, those connected to E-NAM is 470, which is less than the target of 585 for last fiscal
12:39 CRISIL: Increase in MSP to further boost tractor sales, currently growing at 16%
12:39 Deduction for senior citizens increased to Rs 50,000 for medical insurance
12:38 Standard deduction of Rs 40,000 for salaried employees in lieu of transport, medical expenses
12:37 CRISIL: Agri infra fund will boost the logistics sector and facilitate development of cold chains and other hard infrastructure
12:37 Standard deduction to cost government Rs 8,000 cr
12:36 Standard deduction of Rs 40,000 for salaried taxpayers
12:34 No change in personal income tax structure
12:33 Corporate tax for companies with turnover up to Rs 250 cr cut to 25%
12:32 Footwear & leather industry to get benefits extended to apparel industry
12:31 CRISIL: Infra financing: Partial Credit Guarantee scheme, well capitalised bond guarantee fund needed next
12:30 100% tax deduction to companies with revenue of Rs 100 cr registered as farmer producers
12:30 CRISIL: InvITs to monetise infra assets will attract long-term investors
12:28 Aim to lower central govt debt-to-GDP ratio to 40%
12:27 CRISIL: Divestment target of Rs 80,000 cr will boost ETFs
12:26 85.51 lakh new taxpayers have filed returns for FY17
12:26 Total revised estimate of expenditure at Rs 21.57 lakh cr for this FY
12:25 CRISIL: Risk-adjusted returns key to investment
12:25 FY19 fiscal deficit target at 3.3% of GDP
12:25 CRISIL: Investments in 'A' category bonds win-win for investors, issuers
12:24 CRISIL: Will bridge demand-supply gap in financing
12:24 CRISIL: 25% bond borrowing + 'A' category leeway
12:24 FY18 revised estimate for fiscal deficit at 3.5% of GDP
12:23 Committed to 3% fiscal deficit for FY19 onwards
12:22 Allocate Rs 150 cr for commemoration of Mahatma Gandhi
12:21 Law to be introduced to fix MPs' salary every 5 years indexed to inflation
12:20 CRISIL: Will make bond issuances cost-effective, efficient
12:20 CRISIL: Unified stamp duty across states
12:20 Salary of President raised to Rs 5 lakh, Vice President to Rs 4 lakh, governor to Rs 3.5 lakh
12:20 CRISIL: Roads leading the way in infra development
12:19 CRISIL: 10% of total highways in India (9,000 km) built in a single year
12:19 Gold monetisation policy to be revamped to make it invst friendly
12:19 To set up comprehensive gold policy; to revamp gold monetisation scheme
12:18 Govt to set up an e-office to disclose financial info
12:18 FY18 revised divestment estimate at Rs 1 lakh cr
12:17 PSU bank recapitalisation will allow banks Rs 5 lakh cr of additional lending in FY19
12:16 FY19 divestment target at Rs 80,000 cr
12:15 CRISIL: Encouraging corp bond market expansion will alter bank-centric financial system
12:15 National Insurance, United India Insurance & Oriental Insurance to be merged, listed
12:15 CRISIL: Agri-rural push kicker for 2-wheeler and tractor sales
12:15 CRISIL: Another big boost for corporate bond market
12:15 CRISIL: Asking large cos to raise 25% of funding needs via bonds
12:14 Listing of 14 CPSEs including 2 insurance companies
12:14 CRISIL: Big boost for corporate bond markets
12:14 CRISIL: Recognition of investments in 'A' rating category bonds
12:14 Mulling scheme for providing unique identity for every business
12:13 Govt to come out with Ind-friendly defence production policy
12:13 CRISIL: Iconic status for 10 locales will boost tourism
12:13 CRISIL: Monetising road assets, using innovations like Roads SPV, InVITs a positive step
12:13 2 defence industrial production corridors to be set up
12:13 CRISIL: 14% increase in railways outlay from Rs 1.3 trn to Rs 1.48 trn
12:12 CRISIL: Fisheries fund a big boost to Rs 140,000 cr seafood industry
12:12 Propose extra-budgetary expenditure of Rs 5.97 lakh cr on infrastructure
12:11 Will take steps to curb illegitimate transactions funded by cryptocurrency
12:11 CRISIL: Implementation key after 10% jump in cap dvp infra for Rlys
12:10 CRISIL: Bharatmala to be funded via NHAI's TOT model & infra fund
12:10 Do not consider cryptocurrencies as legal tender
12:10 Allocation to 'Digital India' doubled to Rs 373 cr
12:09 RBI norms to nudge companies to access bond markets for fundraising
12:09 CRISIL: LPG demand growth to rise to over 10% next 2 years given 8 crore new BPL connections targeted
12:09 SEBI to mull asking large companies to meet 25% debt from market
12:08 CRISIL: Power, LPG via Ujala and Saubhagya remains area of concern for discoms, OMCs because of lack of recovery
12:08 CRISIL: Focus on rural housing, rural roads and rural infra spend will push up employment
12:08 Will consult with states to make amendments to Indian stamps act
12:08 CRISIL: Massive health insurance plan a boost for hospitals, health insurers
12:08 SEBI to consider mandating large corps to meet 1/4th of debt needs
12:07 Select CPSE enterprises to be monetised through InvITs
12:07 Airport capacity to be raised 5x to handle 1 bn trips
12:07 UDAN Scheme shall connect 56 unserved airports, 37 unserved helipads
12:07 CRISIL: Rail University in Vadodara to boost R&D initiatives, help improve rly ops
12:05 Allocate Rs 11,000 cr for 90 km of double-line tracks for Mumbai
12:05 CRISIL: Fisheries fund a big boost to Rs 140,000 cr seafood industry
12:04 Allocate Rs 17,000 cr for Bengaluru metro network
12:04 CRISIL: Textiles subsidy under TUFs up 18% at Rs 7,140 cr
12:04 CRISIL: Will encourage formal sector coverage
12:04 Allocate Rs 11,000 cr for Mumbai rail network
12:03 All stations with more than 25,000 footfall will have elevators
12:03 CRISIL: Higher allocation to infra capital expenditure in the Budget can be a boost to rural roads construction
12:02 To eliminate 4,267 unmanned rail crossings at broad gauge network
12:02 Significant movement in achievements of the railways
12:02 Railway capex for the year 2018-19 at Rs 1.48 lakh cr
12:01 CRISIL: 3.7 lakh km rural roads plan huge boost for construction cos
12:01 NHAI to make use of ToT model & InvITs to mobilise funds
12:01 CRISIL: Huge health insurance plan could cost govt around Rs 50,000 crore annually
12:01 35,000 km to be completed under Bharat Mala with outlay of Rs 5.35 lakh cr
12:01 CRISIL: Ragi, jowar, moong, maize, paddy to benefit the most
12:00 Highway construction will exceed Rs 9,000 km by end of FY18
11:59 Projects worth Rs 2,350 cr under smart city mission completed
11:58 Tourist facilities to be upgraded at 210 important monuments
11:58 Outlay of Rs 2.04 lakh cr for smart city mission
11:58 99 cities selected under smart city mission
11:56 Propose construction of tunnel under the Sela Pass
11:56 Govt to contribute 12 percent under EPF for all employees for next 3 years
11:56 Committed to further enhancing public investment
11:55 Need investment of Rs 50 lk cr for infra sector
11:55 Allocate Rs 7,148 cr to textile sector
11:54 Women contribution to EPF to be reduced to 8% for 1st 3 years
11:52 Propose review of refinancing criteria under Mudra scheme
11:52 Will take additional measures to strengthen alternate invst funds
11:51 Target Mudra loans for Rs 3 lakh cr next FY
11:50 Propose to bring banks on TREDS, link it with GSTN
11:50 Will soon announce measures for SME NPAs
11:49 Allocate Rs 1.38 lk cr in FY19 for govt health & education programmes
11:36 Most travel blocks will have 'Eklavya' residential school by 2022
11:35 To initiate integrated B-Ed Programme for teachers
11:35 Propose to treat education holistically without segmentation
11:33 To allocate Rs 9,975 cr to the National Social Mission
11:33 Total amount to be spent to improve rural livelihood to be Rs 14.3 lakh cr
11:33 Allocate Rs 2,600 underground water irrigation plan in 96 districts
11:32 Focus of govt to maximise livelihood opportunities in rural areas
11:31 Allocation to National Livelihood Mission raised to Rs 5,750 cr
11:31 To set up dedicated affordable housing under National Housing Bank
11:30 Target constructing 2 cr toilets in FY19
11:29 Allocate Rs 16,000 cr to Pradhan Mantri Saubhagya Yojana
11:28 8 cr poor families will be given free gas connection under Ujjwala scheme
11:27 Special scheme to manage crop residue in Punjab, Haryana, NCT
11:26 Propose to allocate Rs 11 lakh cr for institutional credit for farm sector next FY
11:25 Allocate Rs 10,000 cr for fisheries & aquaculture, animal husbandry funds
11:24 Mechanism to sell surplus solar power to DISCOMS at reasonable prices
11:24 Propose to extend Kisan Credit Card to fisheries & animal husbandry farmers
11:24 Allocate Rs 1,290 cr to National Bamboo Mission
11:23 State of art facility to be set up in 42 food parks for agri exports
11:23 Agri exports have potential of USD 100 bn
11:22 Govt to launch 'Operation Green' with corpus of Rs 500 cr
11:21 Allocation to food processing doubled to Rs 1,400 cr from Rs 715 cr
11:21 Food processing sector growing at 8% per annum
11:21 Organic farming to be encouraged via cluster model for farming
11:20 eNAM to be exempt from APMC r