Finance Minister Arun Jaitley02:35 pm: I hope this leads to the expansion of the economy: Arun Jaitley.02:32 pm: We did not want to burden the common man, had to resolve a lot of issues: Arun Jaitley.01:47 pm: Poor friendly, youth friendly, farmer friendly, women friendly and senior citizen friendly: Rajnath Singh on Union Budget.01:44 pm: This Budget will only benefit Adani and Ambani, not the common man: NCP leader Nawab Malik.01:42 pm: This is a perfect and practical Budget for the nation: BJP leader Mukhtar Abbas Naqvi.01:37 pm: This Budget doesn’t benefit the common man: Congress leader Rajeev Shukla.01:30 pm: There is nothing new, they have merely continued our schemes: Sonia Gandhi.01:28 pm: There is very little for social sector: Sonia Gandhi.01:25 pm: The Budget does not quicken the pulse: Rahul Gandhi.01:22 pm: High on rhetoric, short on delivery. No vision and no roadmap: Congress leader Manish Tewari on Union Budget.01:13 pm: Tax proposals on indirect tax front would yield Rs 7,525 cr: FM.01:11 pm: Soaps and oil products to become cheaper: FM.01:10 pm: To broaden tax base, negative list for service tax has been reviewed: FM.01:08 pm: Propose increase in excise duty on tobacco products, and aerated water products with added sugar: Jaitley.01:06 pm: FM announces reduction in excise duty for specified food package industry from 10 per cent to 6 per cent.01:04 pm: Excise duty on footwear reduced from 12 per cent to 6 per cent: FM.01:03 pm: Export duty on bauxite enhanced from 10 per cent to 20 per cent: Jaitley.01:01 pm: FM Arun Jaitley announces several tax rational measures.advertisement01:00 pm: Basic custom duty on LED panel below 19 inch made nil: Jaitley.12:58 pm: FM announces measures to encourage manufacture of LCD/LED panels of TVs.12:57 pm: FM announces proposals to make CRT TVs cheaper.12:55 pm: Net effect of direct tax proposals is revenue loss of Rs 22,200 cr: FM.12:54 pm: FM announces measures to boost domestic manufacturing sector; says the sector has been under stress.12:51 pm: Provide investment allowance at 15 per cent for 3 years to manufacturing company which invest more than Rs 25 cr in plant and machinery: FM.12:48 pm: Propose to increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh: FM.12:46 pm: Tax exemption limit for senior citizens changed from Rs 2.5 lakh to Rs 3 lakh: FM.12:45 pm: Tax exemption limit for small and marginal, and senior tax payers changed from Rs 2 to Rs 2.5 lakh: FM.12:44 pm: Do not propose to make any changes in tax rate: FM.12:43 pm: Impact of tax changes have been factored: Arun Jaitley.12:42 pm: I propose to give some relief to taxpayers and some sectors of the economy: Arun Jaitley.12:41 pm: Had to encounter challenge of extremely limited fiscal space in deciding tax policy: FM.12:40 pm: I propose Rs 200 crore for power reforms, and Rs 500 crore for water reforms in Delhi: Arun Jaitley.12:38 pm: FM announces Rs 150 cr for communication needs of Andaman and Nicobar islands.12:37 pm: FM announces ‘Arun Prabha’ channel for NE region.12:36 pm: Govt committed to development of Telangana and Andhra: FM.12:36 pm: Rs 1000 cr provided for rail connectivity in NE region: FM.12:35 pm: Rs 100 cr set aside for development of organic farming in north east region: FM.12:35 pm: Programme for displaced Kashmiri migrants with Rs 500 cr to be started: FM.12:35 pm: Young Leaders Programme to be set up with Rs 100 cr: FM.12:34 pm: Rs 200 cr set aside for upgradation of indoor and outdoor stadium in Jammu and Kashmir to international standards: FM.12:33 pm: Sports University to be set up in Manipur; Rs 100 cr provided in current financial year: FM.12:33 pm: Govt will set up national sports academy for different sports in different parts of India: FM.12:32 pm: Biotech clusters to be set up in Bangaluru and Faridabad to take science and technology to new heights: FM.12:32 pm: NRI fund for conservation of river Ganga to be set up: FM.12:31 pm: FM announces “Namami Ganga”, an integrated Ganga Development Project; Rs. 2,037 cr set aside for this.12:30 pm: World Class Convention facility to be developed through PPP mode: FM.12:30 pm: Time that we make serious efforts to link rivers; Rs 100 cr set aside for project to link rivers: FM.12:29 pm: FM announces Rs 100 cr for development of archaeological sites. Gaya to be developed as world class tourism spot: FM.12:29 pm: Propose to set aside Rs 50 cr for construction of National Police Memorial: FM.12:28 pm: Rs 5000 cr set aside for defence outlay over and above amount provided under interim budget: FM.12:27 pm: War memorial to be set up along with a war museum; Rs 100 cr set aside fro this: FM.advertisement12:26 pm: Rs 100 cr set aside for development of Technology Development Fund scheme for education of girl child to be launched soon: FM.12:25 pm: Will take measures to revitalise small savings schemes: FM.12:24 pm: Pending Insurance Amendment Bill to be taken up in the Parliament: FM.12:23 pm: Govt will work out measures for revival of other stressed assets: FM.12:22 pm: RBI will create framework for licenses of small banks: FM.12:20 pm: Bank will be encouraged to give long term funds and loans to the infrastructure sector: Jaitley.12:19 pm: Benefits of insurance have not reached larger section of people; govt will addres this in multi-pronged manner with stakeholders: FM.12:18 pm: To provide all households with banking facilities to empower the weaker sections; there should be at least 2 bank accounts in each household: FM.12:17 pm: Urgent need to converge current Indian standard with international accounting standards: FM.12:16 pm: FM proposes number of measures to energise Indian capital market.12:15 pm: Essential to strengthen and modernise regulatory framework in financial sector to meet challenges of increasing complex economy: FM.12:14 pm: Financial sector is at the heart of the growth engine: FM.12:14 pm: Revision of rate of royalty on minerals to be taken up on request from the states: Jaitley.12:13 pm: In order to complete gas grid, 15000 km of additional pipeline to be developed through PPP mode: FM.12:12 pm: Existing impasse of coal sector will be resolved: Jaitley.12:11 pm: Rs 4200 cr set aside for the Jal Marg Vikas project on river Ganga connecting Allahabad to Haldia,over 1620 km: Arun Jaitley.12:10 pm: New airports to be developed through PPP mode: FM.12:09 pm: FM announces development of Hastkala Academy in PPP mode: Jaitley.12:08 pm: Rs 50 cr set aside for pashmina production programme in Jammu and Kashmir: Jaitley.12:07 pm: There is need to develop more sophisticated models with quick redressal mechanism in PPP contracts: FM.12:06 pm: India has emerged as the largest PPP market in the world: FM.12:06 pm: FM announces Rs 200 cr for 6 more textile clusters in Rae Bareily, Lucknow, Surat, Bhagalpur: FM.12:05 pm: Definition of MSME to be revised for high capital ceiling: FM.12:05 pm: MSMEs are the backbone of the economy; to be revived through a committee to examine and report in three months: FM.12:04 pm: Effective steps to be taken to revive SEZs: FM.12:04 pm: Apprentice Act to be suitably amended to strengthen the Apprentice Training Scheme: FM.12:04 pm: To set up Industrial Smart Cities in 7 cities: Jaitley.12:03 pm: All govt departments and ministries to be integrated through E-platform by 31 Dec this year: Jaitley.12:02 pm: Rs 100 cr set aside for Kisan Television to provide real time information on various farming and agriculture issues: Jaitley.12:01 pm: FM allocates Rs 200 cr for setting up 2000 producers’ organisations across the country.12:00 pm: FM allocates funds for setting up 2,000 producers’ organisations across the country.11:59 am: Rs 5000 cr short time rural credit refinance fund for 2014-15: Jaitley.11:58 am: Additional Rs 5000 cr set aside for RIDF: Jaitley.11:57 am: Rs 50 cr set aside for indigenous cattle breed and blue revolution for inland fisheries: FM.advertisement11:56 am: State governments to be encouraged to develop farming markets: FM.11:55 am: Propose to provide finance to 5 lakh landless farmers through NABARD: FM.11:53 am: National Adaption Fund for climate change to be set up: Jaitley.11:52 am: Govt will initiate scheme to provide a soil health card; Rs 100 cr set aside. Rs 56 cr for soil testing labs across the country: FM.11:47 am: Five minute break announced in presentation of Budget.11:46 am: Agriculture University in Andhra and Rajasthan, and Horticulture University in Haryana, Telangana; Rs 200 cr set aside.11:45 am: Slum development to be included in Corporate Social Responsibility activities.11:45 am: FM announces Rs 100 cr for modernisation of madrasas.11:44 am: FM announces development of Metro rails in PPP mode; Rs 100 cr set aside for metro scheme in Ahmedabad and Lucknow.11:44 am: Mission for low cost housing proposed to incentivise development of low cost housing; Rs 400 cr announced.11:44 am: Urban renewal will address drinking water, use of recycled water,solid waste management, digital connectivity; 500 habitats supported: FM.11:43 am: Rs 100 cr set aside for Community Radio Centres; 600 new and existing ones will be supported: Jaitley.11:42 am: FM proposes National Rural Internet and Technology Mission; Rs 500 crores set aside.Finance Minister Arun Jaitley11:41 am: Pt Madan Mohan Malaviya Teaching Programme to be started: Jaitley.11:40 am: FM proposes to set up 5 new IIMs and 5 new IITs: Jaitley.11:40 am: Propose to set up Center of Excellence in MP named after Lok Nayak JaiPrakash Narayan: Jaitley.11:39 am: 15 Model Rural Health Research centers to be set up for rural health issues: Jaitley.11:39 am: FM proposes 12 more Govt Medical colleges with dental facilities: Jaitley.11:38 am: The four new AIIMS will be in Andhra, West Bengal, Vidarbha and Purvanchal: Jaitley.11:37 am: Propose to set up four more AIIMS; Rs 500 crore set aside for this. Six new AIIMS started recently have become functional: Jaitley.11:36 am: Rs 3600 crore set aside for National Rural Drinking Water: Jaitley.11:35 am: FM announces Backward Regional Grant Fund to address inter regional inequalities.11:34 am: FM proposes National Housing Banking programme; sets aside Rs. 8000 cr for this programme.11:33 am: PMGSY has a massive impact on rural development; sets aside Rs 14,389 crore for this: Jaitley.11:33 am: Jaitley announces Crisis Management Center for women at Delhi; money to be provided from Nirbhaya fund.11:32 am: FM laments apathy towards girl child, announces ‘Beti padhao, beti badhao yojana’, sets aside Rs 100 crore for this.11:31 am: 15 new Brail presses to be established: Jaitley.11:30 am: FM announces schemes for disabled persons in the country: Jaitley.11:30 am: EPFO will launch a unified account scheme for portability of Provident Fund accounts: Jaitley.11:29 am: A large number of money lying unused in postal schemes etc. Propose to set up a committee to examine how this can be utilised: Jaitley.11:28 am: Rs 50,548 crore proposed for SC development: Jaitley.11:27 am: Rs 200 crore set aside to support Gujarat govt in the Sardar Patel statue installtion: Jaitley.11:26 am: Govt committed to providing 24/7 power supply to all homes: Jaitley.11:25 am: Total sanitation goals to be achieved by 2019: Jaitley.11:24 am: ‘Pradhanantri Krishi Sichayin Yojana’ to be started for irrigation: Jaitley.11:23 am: A national multiscale programme called Skill India to be introduced to provide training and support for employment: Jaitley.11:23 am: In order to give major boost to tourism, E-visas would be introduced at 9 airports. This will facilitate visas on arrival: Jaitley.11:22 am: As large number of people migrate to cities, unless new cities are developed the present would become unliveable: Jaitley.11:21 am: We will examine proposal to give additional autonomy to banks and make them more responsible: Jaitley.11:21 am: Financial stability is the foundation of our recovery: Jaitley.11:20 am: FM proposes measures to encourage development of smart cities: Jaitley.11:19 am: India is the largest buyer of defence equipment: Jaitley.11:18 am: India needs boost in manufacturing sector: Jaitley.11:18 am: FDI is several sectors provides additional resources: Jaitley. 11:17 am: Transfer pricing is major area for litigation; proposes changes in transfer pricing regulation.11:17 am: I propose to strengthen authority for advance ruling in tax: Jaitley.11:16 am: We are committed to providing stable tax regime which is investor friendly: Jaitley.11:13 am: This govt will not ordinarily change policies retrospectively which creates a fresh liability: Jaitley.11:12 am: GST will streamline tax administration and result in higher tax collection for center and states: Jaitley.11:11 am: A new urea policy would be formulated: Jaitley.11:10 am: We have no option but to take some bold steps to spurt economy; these are only the first steps and are directional: Jaitley.11:09 am: There is a gradual moderation in the WPI recently; but we are still not out of the woods: Jaitley.Finance Minister Arun Jaitley leaves for Finance Ministry.11:08 am: Considering that we had two years of low GDP growth, a large subsidy burden, target of 4.1 per cent fiscal burden is daunting: Jaitley.11:08 am: FM emphasises on fiscal prudence, need to generate more resources: Jaitley.11:08 am: The task before me today is very challenging; need to revive growth in manufacturing sector: Jaitley.11:07 am: We have taken up the challenge in the right ernest; will create a vibrant and strong India: Jaitley.11:06 am: There is a large population which is below the poverty line: Jaitley.11:05 am: The steps I will announce are only the beginning of the journey we wish to take for macro economic stabilization, says Jaitley.11:04 am: The budget is the most comprehensive action plan: Jaitley.Copies of Union Budget at Parliament House.11:04 am: There are green shoots of recovery in the global economy: Jaitley.11:04 am: We look forward to lower inflation, says Jaitley.11:02 am: People have voted for a change. India desires to grow: Jaitley.11:01 am: Finance Minister Arun Jaitley rises to present Budget 2014.10:53 am: Finance Minister Arun Jaitley to present Union Budget shortly.10:40 am: Cabinet clears Arun Jaitley’s Union Budget.10:36 am: Union Cabinet meeting at Parliament ends.10:27 am: Arun Jaitley briefs Union Cabinet on Budget 2014.10:17 am: Union Cabinet meeting begins at Parliament ahead of presentation of Union Budget.10:14 am: The economic status of nation is unstable but we are sure Arun Jaitley will present a good Budget: BJP leader Nalin Kohli.10:12 am: Fiscal deficit needs to be looked at, says former MoS finance JD Seelam.10:10 am: Growth with employment is the top focus in Budget, says BJP.10:05 am: We need to bring down inflation. Investment incentive is needed: Chandrajit Banerjee (DG, CII) on expectations from Union Budget.10:00 am: Finance Minister Arun Jaitley’s family leaves for the Parliament.#FM, MOS and officers briefed #President this morning for half an hour on main features of the #Budget2014 pic.twitter.com/YKEeF2mVRy&; President of India (@RashtrapatiBhvn) July 10, 2014 09:56 am: Finance Minister Arun Jaitley reaches Parliament to present Union Budget.09:38 am: Copies of Union Budget 2014-15 reach Parliament House.Copies of Union Budget 2014-15 reach Parliament House.09:34 am: Budget needs to take everyone forward: NCP leader Majeed Memon.09:30 am: I am positive that our Honorable Finance Minister will deliver a strong budget for a stable and progressing economy, tweets BJP leader Poonam Mahajan.09:29 am: I don’t think it will be a pro-poor Budget: NCP leader Tariq Anwar.09:26 am: A good taxation system should be in order: Arvind Virmani (Former chief economic advisor to Government of India).09:22 am: Sensex gains 47 points, opens at 25,513 before the presentation of Union Budget.09:20 am: Finance Minister Arun Jaitley leaves for Rashtrapati Bhavan.09:15 am: I feel that the Union Budget will exist only to serve few industrialists: SP leader Naresh Agarwal.09:09 am: Finance Minister Arun Jaitley leaves for Finance Ministry.