Union Budget 2017: Live Updates

Here are live updates from the Union Budget 2017-18.

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Here are live updates from the Union Budget 2017-18 to be presented by Union Finance Minister, Arun Jaitley: There are a lot of expectations from this Budget, especially a hike in the income tax slabs. 

01: 00 pm: Finance minister concludes his speech.

12: 48 pm: Surcharge on annual taxable for those earning above Rs 50 lakh at 10 percent. 

12:47 pm: Tax rates on the initial tax bracket of Rs 2.5- Rs 5 lakhs reduced to 5% from 10%. 

12:44 pm: The maximum donation a political party can receive from anyone source is Rs 2000: Finance Minister Arun Jaitley

12:40 pm: No cash transactions above Rs 3 lakhs. 

12:38 pm: Tax rate for companies with an annual turnover up to Rs 50 crores to be reduced to 25%, to strengthen MSME sector. 

12:36 pm: Instead of build-up area, carpet area will be counted for affordable housing, says FM

12:30 pm: Long-term holding period for real estate reduced to two years from the existing 3 yrs: FM

12:22 pm: Direct tax collections not commensurate with income & expenditure pattern of Indian economy:

12:20 pm: Fiscal deficit for 2017-18 targetted at 3.2 per cent and 3 per cent in the following year. 

12:16 pm: Total expenditure for 2017-18 at Rs 21,47,000 crore. Capex up 25.4% over previous year. 

12:15 pm: A new law to confiscate the assets of those fleeing the country. 

12:12 pm: Aadhaar-enabled payment system to be launched shortly for those without debit cards, mobile phones :FM

12:10 pm: A revised guidelines would be incorporated for listing of identified PSU enterprises, says FM. 

12:07 pm: Rs 10,000 crores for recapitalization of government banks. 

12:04 pm: Shares like the government owned ICTRC to be listed on the stock exchanges. 

12:01 pm: FIPB to be abolished. 

12:00 pm: A new metro rail policy will be announced, this will open up new jobs for our youth: FM Jaitley 

11:57 am: Service tax on e-tickets booked through IRCTC will be withdrawn, says FM. 

11:55 am: All coaches of Indian railways to be fitted with bio toilets by 2019: Finance Minister, Arun Jaitley

11:51 am: Rs 1.31 lakh crore capex fixed for Railways in 2017-18 including Rs 55,000 crores to be provided by govt:FM

11:47 am: Govt aims to eliminate kala-azar, filiarisis by 2017, leprosy by 2018, measles by 2020 and TB by 2025. 

11:44 am: Affordable housing to be get infra status. 

11:42 am: Quality education will energize our youth: FM

11:41 am: Annual learning outcomes to be rolled out in schools : Arun Jaitley

11:32 am: Participation of women in MNREGA has increased to 55% from 48% in the past, says FM

11:25 am: Rs 38,500 crores allotted for MNREGA has been increased to Rs 48,000 crore in 2017-18, the highest ever allocation.

11:34 am: Issuance of soil health cards have gathered momentum, will setup a mini lab in krishi vigyan kendras: FM

11:32 am:  We will take special efforts to ensure adequate flow of credit to under served areas, E-states & J&K, Jaitley. 

11:30 am: Budget themes this year according to the FM are farmers, rural, youth, poor, infra, financial, digital etc. 

11: 28 am: The target for agricultural credit for the FY 2016-17 has been fixed at Rs 10 lakh crore: Jaitley

11:22 am: Agenda for next year is to transform, energise, and clean India: Arun Jaitley

11:21 am: Pace of remonitisation has picked up; impact of DeMonetisation will not spill over to next year: FM. 

11:19 am: Demonetisation seeks to create a new normal where the GDP is bigger and cleaner. Like all reforms, it is disruptive, says Jaitley. 

11:18 am: Demonetsiation was a bold and decisive measure. Strong potential of Demonetization, especially higher GDP growth. 

11:15 am: India stands out as a bright spot in the world landscape, says Jaitley. 

11:14 am: Forex reserves enough to cover 12 months of imports, Jaitley. 

11:09 am: Finance Minister rises to present Union Budget. 

11:07 am: Leader of opposition makes request to postpone the Union Budget. 

11:02: am Parliament session begins.

10:49 am: Sensex is trading 18 points higher, while the Nifty is down 1 point, 10 minutes ahead of the Union Budget 2017-18. 

10:42 am: "Budget will be there", says Lok Sabha speaker, Sumitra Mahajan. "It is a constitutional requirement", she says. 

10:39 am: Speaker confirms that Budget will go as planned. 

10:35 am: Sanctity of Budget must be maintained, Venkaiah Naidu. 

10:27 am: A number of political parties join chorus for postponement of Budget. 

10:24 am: Arun Jaitley confirms that the Union Budget will be presented today. 

10:18 am: Markets drop to the lowest point of the day. Sensex down 51 points. 

10:10 am: Congress calls for postponing Union Budget. 

9:58 am: Speaker to take a final call on whether the Union Budget would be presented today. 

9:54 am: Modi cabinet to meet at 10:15 am.

9:47 am: Arun Jaitley reaches parliament.

9:41 am: Sensex drops in the red for the first time today. Down 6 points. 

9:38 am: Budget copies reach parliament. 

9:33 am: News channels says that the Union Budget would be presented today as government reaches out to other parties. 

9:27 am: Markets are quiet. ICICI Bank is seeing some selling pressure following a poor set of results. 

9:21 am: The budget would be presented as per schedule news channels are quoting sources. 

9:18 am: Housing Finance stocks are in action, as there are expectations that there maybe some interest rate exemption hike in the Budget. 

9:15 am: Sensex opens 36 points higher. 

9:14 am: Rupee at one month high of 67.64 ahead of Union Budget 2017-18. 

9:08 am: Sensex pre-opening close 9 points ahead of Union Budget 2017. 

9:01 am: Rupee opens at 67.64 to the dollar ahead of the Union Budget

8:50 am: Arun Jaitley leaves for the Finance Ministry

8:44 am: It is not certain if the Union Budget 2017-18 would be presented today, following the death of a sitting MP, E Ahamed.

Union Budget 2017: Live Updates
8:46 am: SGX Nifty points to a higher market opening ahead of the Union Budget 2017-18.

8:40 am: Speaker may take a final call on whether the Union Budget will be presented today following the death of a sitting MP.

Read more about: union budget 2017
Story first published: Wednesday, February 1, 2017, 8:48 [IST]
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