10 years ago
Finance Minister Arun Jaitley starts presenting the Union Budget 2015 in the Parliament. Being termed as 'make or break', this is Arun Jaitley and the gove
'Universally, people have acclaimed the fact that India needed the push for infrastructure investment': Coal Minister Piyush Goyal to NDTV
Basic thought process is 'Sabka Saath, Sabka Vikaas, Sabka Laabh': MoS Finance, Jayant Sinha to NDTV
- We have reset the fiscal architecture of the Indian government, put in place the beginnings of a universal safety net scheme.
- You can't expect the execution to happen as the budget is read out... it happens the next day and the day after... we are a round the year government.
- We have unleashed the third generation of reforms with this Budget.
More political reactions on the Budget: The Negatives
BJP is always anti poor, anti farmers & common man, nothing for them in budget, Completely pro corporate budget by capitalist govt.
- Lalu Prasad Yadav (@laluprasadrjd) February 28, 2015The Budget has let down the people of AP. It is Centre's responsibility to provide us a level-playing field to address our needs. (1/2)
- N Chandrababu Naidu (@ncbn) February 28, 2015 #Budget2015 - It is a watershed budget as it marks the beginning of cooperative federalism and empowerment of the States.
- Prakash Javadekar (@PrakashJavdekar) February 28, 2015 Main focus of Budget is on the poor and under privileged: BJP's Ravi Shankar Prasad to NDTV
A person with 7 lakh income doesn't have to pay any tax if he avails all exemptions: Finance Minister
Author Chetan Bhagat in conversation with Finance Minister Arun Jaitley on the Budget
- The national expenditure on all these sectors (social sector) will be much higher - states will spend more.
- I tried to obliterate the distinction between pro-poor and pro-rich.
- Our infrastructure is very weak, our manufacturing has to become internationally competitive.
- Asking people to invest in savings by giving them tax benefits. I want domestic savings to go back to 36% from the present 30%.
- How long can India be a pension-less society? We must become a pensioned society.
More political reactions on the Budget
Its a major step to financially strengthen every state. Maharashtra will be a big beneficiary. #Budget2015 #UnionBudget2015
- Devendra Fadnavis (@Dev_Fadnavis) February 28, 2015 Large sections of people left in the cold, this budget is being unkind to the poor, and this is the kindest thing I can say about the Budget: Chidambaram
Taking a dig at the government's decision to dissolve the Planning Commission, P Chidambaram says, "Just like Planning Commission, looks like the government has done away with planning too"
'The Budget Makes Some Very Tall Claims,' Says Former Finance Minister P Chidambaram
More than a 100 crore people live in this country who do not fall under the corporate sector and who do not pay taxes. A budget should acknowledge them. That's what's missing from this year's budget.
More than a 100 crore people live in this country who do not fall under the corporate sector and who do not pay taxes. A budget should acknowledge them. That's what's missing from this year's budget.
Mr Jaitley smiles and dismisses former Prime Minister Manmohan Singh's observation that the Budget lacks roadmap with a "thank you".
Need to phase out corporate tax exemptions; shall do gradually in conjunction with 5% reduction in corporate tax : Arun Jaitley
Need to phase out corporate tax exemptions; shall do gradually in conjunction with 5% reduction in corporate tax : Arun Jaitley
Budget 2015: 'Good Intentions But No Roadmap,' Manmohan Singh Tells NDTV
"Mr Jaitley is a very lucky finance minister. He has inherited an economy which is in reasonably good shape... inflation is under control, not because of anything we have done, but because the international prices of petroleum and other commodities have gone down," Dr Singh, who is also an eminent economist, said.
"Mr Jaitley is a very lucky finance minister. He has inherited an economy which is in reasonably good shape... inflation is under control, not because of anything we have done, but because the international prices of petroleum and other commodities have gone down," Dr Singh, who is also an eminent economist, said.
Finance Minister Arun Jaitley in a post-budget discussion
- This year is my year, and I have to transparent.
- The other investment destinations, barring the US are not doing well.
- The world can not run on single engine.
- The Economist says, 'This is India's chance to fly'
- I increased Centre's spend on infrastructure by 70,000 crore.
Home Minister Rajnath Singh on Mr Jaitley's Budget
Congratulations to Shri @arunjaitley on presenting a forward looking &progressive Budget. This Budget highlights the contours of 'New India'
- Rajnath Singh (@BJPRajnathSingh) February 28, 2015 The Prime Minister reinstating the government's commitment to uplift the poor and provide social security for all citizens
Suraksha Bima Yojana, Atal Pension Yojana, Jeevan Jyoti Bima Yojana, Vidya Lakshmi Karyakram mark a shift from Jan Dhan to Jan Kalyan.
- Narendra Modi (@narendramodi) February 28, 2015 And more praise for the Finance Minister...
FM @arunjaitley must be congratulated for this pro-poor, pro-growth, pro-middle class, pro-youth & paradigm shifting Budget.
- Narendra Modi (@narendramodi) February 28, 2015 What the Prime Minister has to say on Mr Jaitley's first full-year budget.
I congratulate FM for doing an excellent job in respecting aspirations of the States & at the same time delivering on National priorities.
- Narendra Modi (@narendramodi) February 28, 2015Budget 2015 has a distinct focus on farmers, youth, poor, neo-middle class & the Aam Nagrik. It delivers on growth, equity & job creation.
- Narendra Modi (@narendramodi) February 28, 2015Budget is investment friendly & removes all doubts on tax issues. It assures investors that we have a stable, predictable & fair tax system.
- Narendra Modi (@narendramodi) February 28, 2015From housing for all, jobs, health, education & total electrification, FM laid down goals to be achieved by 2022, India's Amrut Mahotsav.
- Narendra Modi (@narendramodi) February 28, 2015 Excise duty on cigarettes has been raised to 15 per cent and 25 per cent for different categories. This will make cigarettes costlier.
Highlights of Mr Jaitley's Budget Speech: The Couplet that took a Jibe at Congress
Kuch to gul khilaye hain, kuch abhi khilane hain, par baagh mein ab bhi kaante kuchh puraney hain," (We have made some progress and are working towards achieving more goals, but there are some hindrances in the way.)
Kuch to gul khilaye hain, kuch abhi khilane hain, par baagh mein ab bhi kaante kuchh puraney hain," (We have made some progress and are working towards achieving more goals, but there are some hindrances in the way.)
#Budget2015 #Arunjaitley: Individual tax payer will benefit to the extent Rs.4,44,200/- from the exemptions announced
- PIB India (@PIB_India) February 28, 2015 To conclude, it is no secret that the expectations from this budget has been high. Even our worst critics would agree, we have moved rapidly. We are committed to achieving what we have been voted in power for.
#SabkaBudget speech concludes with commitment to well being of all "Sarve Bhavantu Sukhinah, Sarve Santu Niramayah"@arunjaitley
- Ministry of Finance (@FinMinIndia) February 28, 2015 Health insurance premium exemption raised to Rs 25,000 from Rs 15,000.
Transport allowance given to all taxpayers, limit increased from Rs 800 to Rs 1600 per month.
The excise duty on footwear having retail price of more than 1000 per pair has been reduced by 6 per cent.
Budget 2015: Reduced taxes on Technical Services to 10% from 25%
Arun Jaitley replaces wealth tax with additional 2% surcharge on super rich with annual income of over 1 crore rupees.
The Finance Minister Announces increase in Visa On Arrival facility from 43 to 150 countries.
Quoting PAN made mandatory for any sale exceeding Rs 1 lakh: Arun Jaitley.
Government to bring new law to deal with black money, announces Arun Jaitley in Budget speech.
Good news for Corporates: Corporate tax reduced from 30% to 25% over next four years.
The budget allocation for the Defence Sector for the year 2015-16 is 246727 crore, increased from Rs 2 lakh crore.
Finance Minister proposes setting up IIT in Karnataka; IIMs in J&K and Andhra Pradesh; AIIMS in J&K, Punjab, Himachal Pradesh and Assam.
Employees contribution to the EPF should be optional, says Finance Minister Arun Jaitley
Arun Jaitley seeks to allocate additional funds for the following:
- MNREGA - Rs 5,000 crore
- Child development scheme - Rs 15,00 crore.
- Child security scheme - Rs 500 crore.
- In order to support security of women,I have decided to provide an additional 1000 crores to Nirbhaya fund.
Social Security Schemes launched in the Union Budget 2015 by Mr Jaitley:
- A large population of India is without insurance of any kind.
- I will work towards creating a social security system for all Indians.
- MUDRA bank with corpus of 20000 cr
- 'PM MUDRA Yojana' - to prioritize SC, ST and OBC.
- We will launch the 'Atal Pension Yojana'.
- Atal Pension Yojana will provide a defined pension to the people, which will start at the age of 60.
- I propose a new scheme of providing physical aids for senior citizens living below poverty line.
- Propose the 'Nayi Manzil' scheme for the youth minorities.
The Three Achievements of the government at the Centre in the last 9 months: Arun Jaitley
- Jan Dhan Yojna,
- Coal Auctions
- Swachh Bharat
Further highlights from Mr Jaitley's budget speech.
- Will meet the challenging fiscal target of 4.1% of GDP which we had inherited.
- I will meet the fiscal deficit of 3 per cent in the next two years.
- With fiscal space being squeezed have to maintain the challenge of the need for fiscal discipline.
- With the fiscal space reduced, the Government has decided to continue supporting important national priorities.
- Public Investment needs to step in to catalyze the investment in PPP.
- The budget reflects a considerable scaling of the government's investments.
- We need to cut subsidies leakage and not the subsidies itself. We are in the process of rationalising subsidies.
- 6335 crores has been so far transferred directly as LPG subsidies to consumers ... I am sure those who are better off and are in top tax brackets will give up LPG subsidy voluntarily.
- Roadmap to achieve Fiscal deficit of 3% of GDP in three years: Target is 3.9% in 2015-16, 3.5% in 2016-17, 3% in 2017-18.
- Our commitment to farmers run deep, an ambitious soil health card has been introduced to improve soil fertility.
- Our government is committed to ensuring employment through MNREGA, 34699 crore allocated.
- Our government truly believes that development has to be inclusive growth.
- To support agricultural sector, I propose to allocate 25000 crore in 2015 to rural development fund:
I am also mindful of the challenges that I have to deal with: Arun Jaitley
- Agriculture income
- Increasing investment in Infrastructure
- Manufacturing has declined, exports are stagnant
- Need for fiscal discipline
- Fiscal deficit
Arun Jaitley starts the Budget Speech
- I rise to present the Union Budget for the year 2015.
- It is my belief that every rupee of state expenditure will help in the betterment of the people.
- The credibility of the Indian Economy has been re-established.
- In the last 9 months, our government has taken several steps to energise Indian economy.
- We are a round the clock, round the year government.
- Estimated GDP for 2014-15 is 4.2 per cent.
Prime Minister Narendra Modi arrives at Parliament for Mr Jaitley's Budget speech at 11.00 am.
Arun Jaitley's Budget Test: Today could be the most important Budget since the early 1990s, when India launched economic liberalization.
62-year old Mr Jailtey not only faces expectations of a huge population struggling for jobs, but financial markets as well, which have run sharply on hopes of big bang reforms.
62-year old Mr Jailtey not only faces expectations of a huge population struggling for jobs, but financial markets as well, which have run sharply on hopes of big bang reforms.
Mr Jaitley arrives at Parliament. He will make the Budget speech at 11.00 am.
A budget 'Made in India' will 'Make India', strengthening all sections of society. All inclusive,policy driven, measurable,accountable..
- Kiran Bedi (@thekiranbedi) February 28, 2015 Union Budget 2015: Sensex Soars, Stocks to Watch When Arun Jaitley Speaks
The BSE Sensex opened with strong gains on Saturday ahead of Finance Minister Arun Jaitley's first full-year Budget.
The BSE Sensex opened with strong gains on Saturday ahead of Finance Minister Arun Jaitley's first full-year Budget.
On the day of what is being termed as the 'Make or Break' Budget, Arun Jaitley sports a startling blue bandh gala. Photo op - Mr Jaitley and the entourage.
Arun Jaitley reaches Rashtrapati Bhawan. The Finance Minister meets the President ahead of presenting government's first full-year Budget.
- 2014-15 growth pegged at 7.4 per cent: Economic Survey
- 2015-16 growth forecast more than 8%
- Government committed to fiscal consolidation
- Enhancing revenue generation is a priority
- Foodgrain output in 2014-15 at 257.07 million tons
- Foodgrain output will exceed the average production of last five years by 8.5 million tons
- Food subsidy bill rises 20% in April-January 2014-15 at Rs 1.07 lakh crore
- Inflation is showing declining trade
- Worst clearly behind for the economy
- India has reached a sweet spot - rare in the history of nations
- India could be launched on a double digit medium-term growth trajectory
- See room for monetary easing
- See scope for big bang reforms
