Union Budget 2015 Live: Arun Jaitley presents the first full year Budget of the NDA government

| Saturday, February 28, 2015 - 16:10
First Published |

NEW DELHI: Finance Minister Arun Jaitley presents the first full year Budget of the NDA government headed by Prime Minister Narendra Modi on Saturday which is believed to be ‘common-man friendly’. The announcement is likely to push the ‘Make In India’ campaign of PM Modi.

Here for live updates:

12:42 PM: Finance Minister moves to introduce the Finance Bill 2015-16, house accepts the bill.

12:40 PM: To conclude, it is no secret that the expectations from this budget have been high. Even our worst critics would agree, we have moved quickly. We are committed to achieving what we have been voted in power for.

12:34 PM: Health insurance premium exemption raises to Rs 25,000 from Rs 15,000.

12:32 PM: The excise duty on footwear having retail price of more than 1,000/pair has been cut by 6%.

12:30 PM: Excise duty now raised by 12.5%: Arun Jaitley

12:27 PM: Individual tax payer can get the benefit of more than Rs. 4 lakh

12:25 PM: Sukanya Samridhi Scheme’s investment will be fully exempted from tax: Jaitley

12:20 PM: PAN card is a must for any purchase more than Rs 1 lakh: Arun Jaitley

12:15 PM: Additional funds to be generated for Swachh Bharat and Clean Ganga

12:08 PM: Non filing of returns or filing of returns with unnamed foreign interests an offence eligible for a seven year term: Arun Jaitley

12:07 PM: Tracking down black money and bringing it back to India our prime focus, says Jaitley

12:05 PM: We will ensure that no student misses out on education due to lack in funds: Jaitley

12:02 PM: Corporate tax trimming would boost investment, says Jaitley

12:01 PM: Huge reduction in corporate tax, down by 5%

12:00 PM: Corporate rate cut to start from next year: FM

11:58 AM: Propose to set up IIT in Karnataka, IIM in Jammu and Kashmir and Andhra Pradesh, AIIMS in Dhanbad: Arun Jaitley

11:59 AM: Institutions of science and educational research in Nagaland and Orissa: Arun Jaitley

11:59 AM: Film production and Animation Institutes to be set up in Arunachal Pradesh: FM

11:55 AM: 150 countries to be included in Visa for arrival facility, says Jaitley

11:50 AM: Our focus continues to increase on women security.

11:47 AM: Highest amount ever will be allocated to MNREGA of Rs. 5, 000 crore: FM

11:47 AM: Indian gold coins to have Ashoka Chakra minted on it: Arun Jaitley

11:46 AM: Government to set up Five Ultra Mega Power Projects in Power and Play mode, informs Finance Minister

11:45 AM: I am happy to announce that second unit of Kudankulam Nuclear Power station will be launched in 2016: Jaitley

11:42 AM: PPP model of Infrastructure to be refreshed and realigned: Jaitley

11:41 AM: Government extends Rs. 5, 300 crore to support micro irrigation

11:40 AM: Investment in Infrastructure to go up by 70,000 crores in 2015-16 over 2014-15: Jaitley

11:38 AM: We intend to permit infrastructure bonds in rail, road and inflation: Arun Jaitley

11:36 AM: New scheme called Nayi Manzil to allow minority youth without school leaving certificates to get the employment: FM

11:36 AM: ‘Make in India’ programme is aimed at raising share of manufacturing in GDP and creating jobs: Arun Jaitley

11:35 AM: We intend to permit infrastructure bonds in rail, road and inflation: Arun Jaitley

11:35 AM: It is our aim to set up a stable taxation policy: FM

11:32 AM: New law on bringing back black money

11:31 AM: Finance Minister Arun Jaitey announces ‘ATal Pension Yojana’.

11:31 AM: Finance Minister Arun Jaitley proposes new scheme for senior citizens below poverty line. “This shows our dedication to the senior citizens,” he said.

11:30 AM: At least one member of each family to get job: Jaitley

11:30 AM: Suraksha Beema Yojna to cover accidental death at the premium of RS 12 per year, says FM

11:29 AM: Government committed to increasing people's access to formal banking, to expand the postal system: FM

11:29 AM: Will soon be launching a national skill mission

11:28 AM: To put the scam, scandal, corruption era behind the bars

11:28 AM: Rural Infrastructure Development Fund to be Rs 25000 Crore under NABARD

11:28 AM: Propose to create Mudra bank for enterprises led by SC/ST: FM

11:27 AM: We are focused to improve quality of employment under MNREGA, says Jaitley

11:26 AM: Roadmap to achieve Fiscal deficit of 3% of GDP in three years: Our target is 3.9% in 2015-16, 3.5% in 2016-17 and 3% in 2017-18: Arun Jaitley

11:25 AM: Additional fiscal space to be created for more investment. To meet fiscal deficit of 4.1% in Financial Year 2015: Arun Jaitley

11:24 AM: Government set to support agriculture, health, MNREGA for upliftment of the poor: FM

11:24 AM: Key challenges that we face include: Low Agriculture incomes, Investment in infrastructure, Manufacturing declined from 18 to 17 per cent. Make in India is aimed to tackle this and there is a need to maintain fiscal discipline, says FM.

11:23 AM: We need to upgrade 80, 000 secondary schools: Arun Jaitley

11:23 AM: Education needs to improve in terms of quality: FM

11:22 AM: Vision of team India is guided by Central government. By 2022 we intend at housing for all. A roof for each family in India by 2022 - 75th Year of India's Independence is something we have planned, says Jaitley

11:22 AM: For villages still lacking power, we aim to complete electrification by 2020: FM

11:22 AM: Since good health is a necessity for growth, medical opportunities in villages is a vital need: FM

11:22 AM: For villages still lacking power, we aim to complete electrification by 2020: FM

11:22 AM: Vision of team India is guided by Central government. By 2022 we intend at housing for all. A roof for each family in India by 2022 - 75th Year of India's Independence is something we have planned, says Jaitley

11:21 AM: We have curbed the inflation rate: FM

11:21 AM: Budget will lay down roadmap for growth: Arun Jaitley

11:20 AM: Growth for 2015-2016 expected to be at 8-8.5 per cent: FM

11:20 AM: Arun Jaitley talks about the achievements of the government. The three main achievements are the success of Jan Dhan Yojna, Transparent coal auction, Swachh Bharat

11:20 AM: World is predicting that it is India’s time to fly. Growth for 2015-2016 expected to be at 8-8.5 per cent, says FM

11:19 AM: Skill India and Make In India to get further boost: FM

11:18 AM: 5 lakh toilets have already been credited, informs Jaitley

11:18 AM: India has to be made the world’s manufacturing hub: Jaitley

11:18 AM: To sanction 1 lakh km of new roads, says Arun Jaitley

11:16 AM: The objective is to improve quality of life of people and to pass benefits to common man: Arun Jaitley

11:17 AM: People have voted for change, for corruption free India: FM

11:15 AM: Rupee has become stronger against many other countries under our government: FM

11:13 AM: The latest CPI inflation is 5.1 percent: Jaitley

11:12 AM: India has become largest growing economy: Arun Jaitley

11:10 AM: India to take off on a faster growth trajectory: Finance Minister

11:07 AM: Arun Jaitley announces Union Budget 2015 in Parliament.

11:00 AM: Cabinet approves the Union Budget 2015. Arun Jaitley to shortly announce in Parliament.

10:35 AM: Cabinet meets to approves the Union Budget 2015.

9:50 AM: Former President APJ Abdul Kalam tweets his expectations regarding the Union Budget 2015: “I wish a #Budget2015 which focuses on two things..equitable education and quality health care for all..This is best investment we can make.”

9:45 AM: "A budget 'Made in India' will 'Make India', strengthening all sections of society. All inclusive,policy driven, measurable,accountable," tweets BJP leader Kiran Bedi.

9:35 AM: Cabinet meeting to be held at 10:15 AM for the approval of the Union Budget.

9:30 AM: Sensex opens over 200 points up, Nifty up by over 70 points in opening trade before the announcement of the Union Budget 2015.

9:20 AM: Ahead of presenting the bdget, Jaitley has arrived the President’s house.

9:15 AM: Finance Minister Arun Jaitley to present the first full year budget of the NDA government at 11 AM.

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