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Union Budget 2021 Live Updates: FM Concludes Her Speech

Union Budget 2021 Live Updates: FM Concludes Her Speech

Finance Minister, Nirmala Sitharaman has begun presenting the Union Budget 2021-22. We bring you the live updates from the Union Budget.

 

2:05 PM
Feb 1, 2021
Sensex zooms
Markets Cheer Budget 2021; Sensex Zooms 1900 Points
12:57 PM
Feb 1, 2021
Sensex surges 1,200 points
The Sensex has surged 1,200 points following the close of the Union Budget speech.
12:51 PM
Feb 1, 2021
Finance Minister concludes her speech
Finance Minister now concludes her speech.
12:49 PM
Feb 1, 2021
Agriculture products
Custom duty on cotton raised to 10 per cent from 0 per cent.
12:47 PM
Feb 1, 2021
Gold and silver
We are rationalizing custom duty on gold and silver to bring it down: FM
12:46 PM
Feb 1, 2021
Chemicals
Custom duty on Naptha reduced.
12:45 PM
Feb 1, 2021
Iron and Steel
Custom duty on select iron and steel items reduced.
12:44 PM
Feb 1, 2021
Custom duty rationalization
To review more than 400 old custom duty exemptions through extensive consultations: FM
12:41 PM
Feb 1, 2021
Start-ups
Claiming tax holiday extended by 1 year to March 31, 2022 for start-ups: FM
12:38 PM
Feb 1, 2021
Senior citizens
FM reduces tax burden on senior citizens above 75 years. Pensioners over 75 years of age are exempt from filing returns.
12:35 PM
Feb 1, 2021
Advance tax on dividends
Advance tax on dividends would now be made payable only on receiving dividends.
12:33 PM
Feb 1, 2021
Tax resolution
To set up faceless dispute resolution system for small tax payers: FM Nirmala Sitharaman
12:31 PM
Feb 1, 2021
Tax assessment cases reduced to 3 years
The tax assessment cases for tax claims can now be re-opened only upto three years in place of six years: FM
12:21 PM
Feb 1, 2021
Fiscal deficit for 2021-22 at 6.8%
Fiscal deficit for 2021-22 is pegged at 6.8%: FM
12:21 PM
Feb 1, 2021
Fiscal deficit at 9.5% of GDP
In 2020-21 the fiscal deficit is pegged at 9.5% of GDP.
12:17 PM
Feb 1, 2021
Rs 1,000 crores for tea workers
A special scheme to benefit tea workers in Assam and Bengal to be launched: FM
12:13 PM
Feb 1, 2021
Education
100 new Sainik schools to be set up in partnership with NGOs: FM
12:10 PM
Feb 1, 2021
Central university in Leh
I propose money to set-up a Central University in Leh: FM
12:08 PM
Feb 1, 2021
MSME
Rs 15,700 crores to be provided for MSME this year. This is more than double that of last year: FM
12:06 PM
Feb 1, 2021
One nation one ration card
One nation one ration card being implemented. Remaining 4 states to be integrated shortly.
12:05 PM
Feb 1, 2021
Sea weed farming
A multi-purpose sea weed farm in Tamil Nadu.
12:04 PM
Feb 1, 2021
Fisheries
5 fishing hubs to be developed: FM
12:04 PM
Feb 1, 2021
Rights to property owners in villages
Rights to property owners in villages - to cover all states and UTs: FM
11:59 AM
Feb 1, 2021
Agriculture procurement costs
A total of Rs 75,060 crores was paid to farmers in 2020-21 for procuring wheat.
11:57 AM
Feb 1, 2021
Agriculture
The MSP has under gone sea-change. Prices across commodities has gone up nearly 1.5 times: FM
11:56 AM
Feb 1, 2021
Disinvestment
2 PSU banks and 1 general insurance company to be privatised.
11:54 AM
Feb 1, 2021
Sensex up 800 points
The Nifty and Sensex have soared with the Nifty up 263 points and Sensex up 800 points.
11:52 AM
Feb 1, 2021
LIC
In 2021-22 IPO of LIC: FM
11:48 AM
Feb 1, 2021
Deposit Insurance
Deposit insurance - had gone up from 1 lakh to 5 lakh for bank depositors. Streamline the provision so that it extends to banks freezing their deposits for some time: FM
11:46 AM
Feb 1, 2021
FINTECH Hub
A Fintech Hub at GIFT ISC to be created: FM
11:43 AM
Feb 1, 2021
Ujwala Scheme extended
100 more districts and 1 crore more users to be targetted: FM
11:42 AM
Feb 1, 2021
Private sector participation in ports
Private sector participation in ports: FM
11:40 AM
Feb 1, 2021
Power distribution companies to become competitive
Power distribution companies would face competition from a monopoly status so as to provide alternative power distribution to consumers: FM
11:37 AM
Feb 1, 2021
Highways
FM says that 8,500 km of highways will be awarded by March 2022. 11,000 km of national highway corridor will be completed.
11:36 AM
Feb 1, 2021
Rs 1,10,055 crores for Railways allocated
Rs 1,10,055 crores for Railways has been allocated for Railways with 1,07,700 crores for capital expenditure for Railways.
11:33 AM
Feb 1, 2021
Railways
A western dedicated freight corridor and Eastern dedicated freight corridor to be completed this year.
11:29 AM
Feb 1, 2021
Roads and highways
To further augment road infra, road corridors are being planned: FM
11:28 AM
Feb 1, 2021
Rs 5.54 lakh crores capital expenditure
Capital expenditure at Rs 5.54 lakh crores, up 35.4% from last year.
11:24 AM
Feb 1, 2021
Debt financing for Infrastructure financing
A bill for development financial institution for infrastructure to be launched. A lending portfolio of Rs 5 lakh crores likely: FM
11:22 AM
Feb 1, 2021
Textile Parks
To enable textile to be globally competitive, textile parks would be launched. 7 textile parks likely.
11:20 AM
Feb 1, 2021
Rs 35,000 crores for Covid vaccine
The Budget 2021-22 would provide Rs 35,000 crores for Covid vaccine and a committment for more: FM
11:16 AM
Feb 1, 2021
Rs 64,000 crores for healthcare
Preventive, curative and well-being are three areas of healthcare, says FM. She announces Rs 64,000 crore for healthcare scheme.
11:14 AM
Feb 1, 2021
6 Pillars of Union Budget
Budget rests on 6 pillars - the 1st pillar is health & well being and taking a holistic health approach: FM Nirmala Sitharaman
11:12 AM
Feb 1, 2021
Against backdrop of Covid
The Union Budget comes at a time when India is battling the coronavirus pandemic and the economy is reeling under the aftereffects of the lockdown.
11:09 AM
Feb 1, 2021
Digital Budget
This Budget will also be a Digital Budget, says FM Nirmala Sitharaman
11:07 AM
Feb 1, 2021
FM highlights packages launched
In May 2020, the govt announced the Atmanirbhar Bharat package, followed by two more packages during the year to sustain the economic recovery: FM Sitharaman
11:03 AM
Feb 1, 2021
FM Begins Budget Speech
The Finance Minister has begun her Budget Speech in the midst of ruckus in the Lok Sabha.
10:49 AM
Feb 1, 2021
Heathcare may get a boost
The budget is likely to allocate more resources for the healthcare sector. Health Insurance related tax benefits cannot be ruled out.
10:22 AM
Feb 1, 2021
Markets going strong
Markets are going into the Budget speech rather strong. The Nifty is up 107 points, while the Sensex near 400 points.
10:08 AM
Feb 1, 2021
FM arrives for Cabinet Meeting
FM Nirmala Sitharaman and MoS Anurag Thakur arrive at the Parliament for Cabinet meeting on Budget 2021.
9:41 AM
Feb 1, 2021
FM to read from Tablet
Nirmala Sitharaman will replace the 'bahi khata' with tablet as Union budget goes digital.
9:40 AM
Feb 1, 2021
Bank recapitalization
It is highly possible that we may see recapitalization of public sector banks being announced. There was no such announcement last year and given the Covid-19 stress something may come through.
9:34 AM
Feb 1, 2021
MSMEs remain hopeful
The MSME sector has been among the worst impacted due to Covid 19. It's likely that they may see some sops in the Budget to relieve pain.
9:29 AM
Feb 1, 2021
Finance Minister leaves
Finance Minister Nirmala Sitharaman, accompanied by MoS Anurag Thakur, leave the Ministry of Finance ahead of the Budget presentation.
9:16 AM
Feb 1, 2021
Nifty Opens 1% higher
Benchmark indices opened 1 per cent higher, with the Nifty up 134 points in early trade. Global cues too particularly from Asia were strong.
9:00 AM
Feb 1, 2021
Budget to meet expectations: Anurag Thakur
MoS Finance Anurag Thakur says that Budget 2021 would be in accordance with people's expectations.
8:27 AM
Feb 1, 2021
Fiscal deficit likely at 5 to 5.5%
The fiscal deficit is likely to be budgeted at 5 to 5.5% for the year 2020-21.
8:24 AM
Feb 1, 2021
Revenue expenditure may increase 6%: CARE Ratings
Revenue expenditure which accounts for around 85% of the total expenditure is expected to increase to Rs.27-28 lakh crores which would be a 6% increase from the budgeted increase of the preceding year.
8:15 AM
Feb 1, 2021
Markets likely to open strong
Markets are likely to open stronger ahead of the presentation of the Union Budget. The Sensex has lost more than 7% in 6 trading sessions ahead of the Budget.
7:50 AM
Feb 1, 2021
Will there be a covid cess?
There is speculation that the government may introduce corona cess in the Union Budget to boost sagging finances. The probability cannot be ruled out at all.
7:40 AM
Feb 1, 2021
Fiscal deficit to stay above 7%
The fiscal deficit for 2020-21 is likely yo be projected beyond 7%. It would be interesting to watch for 2021-22 numbers.
12:21 PM
Jan 31, 2021
Markets may turn volatile
Of the last 10 budgets, the stock market has closed lower six times. It would be interesting to see how things pan out on Monday.
8:44 AM
Jan 30, 2021
Sensex loses 7% ahead of Union Budget
The BSE Sensex lost almost 7% this week ahead of the Union Budget.
5:34 PM
Jan 29, 2021
Bangladesh holds a lesson for India to build specialised products: ES
“Bangladesh seems poised to emerge as a dominant exporter as its exports posted an impressive compound annual growth rate (CAGR) of 8.6 percent during 2011-2019, higher than 0.9 percent for India, and 0.4 percent for the world. As a result, Bangladesh witnessed its share in world exports increase from 0.1 percent in 2011 to 0.3 percent in 2019,” said the Economic survey on Friday.
4:45 PM
Jan 29, 2021
Thalinomics 2020-21: Most expensive veg thali in Andaman and Nicobar Islands
Comparison of Thali costs showed that in 2020-21 (Jun-Dec 2020), the most expensive Veg thali in the rural areas was in Andaman & Nicobar Islands (Rs 38.7) while the cheapest in rural areas was in Uttar Pradesh (Rs 23.1). In terms of Non-Veg thali during the same period, the most expensive was in Arunachal Pradesh (Rs 48.5) while cheapest was in Chandigarh (Rs 29.9) in rural areas.
3:05 PM
Jan 29, 2021
India expected to see current account surplus for the first time in 17 years
India is expected to witness the current account surplus during the current financial year after a gap of 17 years.
3:03 PM
Jan 29, 2021
Agriculture set to cushion GDP shock of COVID-19
Economic Survey 2021 said that agriculture is set to cushion the shock of the pandemic on the economy in 2020-21 with a growth of 3.4%- resulting in an increase in its share in GDP to 19.9% in 2020-21 from 17.8% in 2019-20. This indicates that agricultural activities for rabi harvesting and kharif sowing were largely unaffected by the COVID-induced lockdown.
3:00 PM
Jan 29, 2021
GVA growth pegged at -7.2%
Gross Value Added (GVA) growth is pegged at -7.2% in 2020-21 as against 3.9% in 2019-20.
3:00 PM
Jan 29, 2021
New farm laws a new era of market freedom: Economic Survey
The new farm laws are designed and intended primarily to benefit small and marginal farmers who constitute 85% of total farmers, the Economic Survey 2021 said, adding that the laws will empower farmers in their engagement with processors, wholesalers, aggregators, large retailers and provide a level-playing field.
2:58 PM
Jan 29, 2021
India lags behind other large economies in GDP growth
Although India has performed above expectation on innovation w.r.t. its level of development, India lags behind most other large economies (top ten in terms of GDP current US$) on most indicators of innovation, says survey.
2:56 PM
Jan 29, 2021
Healthcare has finally taken the centre stage
"This path would entail a growth in real GDP by 2.4 percent over the absolute level of 2019-20 – implying that the economy would take two years to reach and go past the pre-pandemic level. Key role of the government is to actively shape the structure of the healthcare market," the Survey reads.
2:55 PM
Jan 29, 2021
Contraction in economic growth driven by pandemic
Policy focus does not imply that re-distributive objectives are unimportant but that redistribution is only feasible in a developing economy if the size of the economic pie grows, says Economic survey 2021.
2:53 PM
Jan 29, 2021
Survey says that India’s sovereign credit rating doesn’t reflect its fundamentals
“Never in the history of sovereign credit ratings has the 5th largest economy been rated as the lowest rung of investment grade (BBB -). India’s fiscal policy must not remain beholden to a noisy, biased measure of India’s fundamentals. India’s forex reserves can cover an additional 2.8 standard deviation negative event. It is imperative that sovereign credit rating methodology be made more transparent, less subjective,” Economic Survey 2021 says.
2:11 PM
Jan 29, 2021
Economic Survey 2021: India's GDP projected to grow at 11% in FY 2021-22
The Economic Survey 2020-21 tabled by the Finance Minister Nirmala Sitharaman said that India's GDP (gross domestic product) is seen growing at 11% in the financial year 2021-22.
12:04 PM
Jan 29, 2021
Stock markets have lost more than 5% ahead of budget
Benchmark indices have lost more than 5% ahead of the Union Budget announcements. There is a possibility that there could be some cess that is levied on corporate tax, which could hit earnings.
12:00 PM
Jan 29, 2021
Subsidy Bill to increase by 4 to 5%: CARE Ratings
We expect the governments subsidy bill for 2021-22 to increase by around 4 to 5% to Rs.2.7 lakh crores, driven by an increase in food subsidy.
11:39 AM
Jan 29, 2021
Corporate tax cess may be a dampener
Any cess levied on corporate tax maybe a dampener for the stock markets. Remember, India drastically reduced corporate tax rates, which led to a huge spike in the stock markets.
11:03 AM
Jan 29, 2021
Markets trade flat
Stock markets are trading flat ahead of the Economic Survey. The Nifty is up almost 28 points, while the Sensex is up 74 points. The Nifty has shed near 5 per cent in the last few trading sessions.
11:00 AM
Jan 29, 2021
Economic survey
The Economic Survey is likely to give an indication of where we are headed in terms of growth.