7th Pay Commission Interim Budget 2019 Piyush Goyal Live updates: Prime Minister Narendra Modi-led NDA government presented the Interim Budget 2019 today in Parliament (on Friday). This is Modi government’s final and sixth Budget before the 2019 Lok Sabha Elections. The Budget was presented by Union Minister Piyush Goyal at 11 am. Prior to this, all of the government’s five Budgets were presented by Union Finance Minister Arun Jaitley.

Speaking on minimum support income scheme, Piyush Goyal said at least 12 crore small framers up to 2 hectares of land (2.5 acres) landholding will get Rs 6,000 per year under the Pradhan Mantri Kisan Samman Nidhi. The amount will be transferred directly to farmers’ bank accounts in three instalments.

Goyal said efforts have been initiated to bring full representation for economically weak backward classes, by giving them reservation in jobs and education. As a tribute to Mahatma Gandhi, world’s largest behavioural change movement Swachh Bharat initiated; more than 98% rural sanitation coverage has been achieved; more than 5.45 lakh villages declared ODF, he added.

Here are the LIVE updates for 7th Pay Commission Interim Budget 2019:

Live Updates

Congress senior leader P Chidambaram on Interim Budget 2019

Congress senior leader P Chidambaram said that the Interim Budget 2019 is not a vote on account but an account for votes. He said that the Interim Finance Minister tested our patience by the longest interim budget speech in the recent memory. It was not an interim budget, it was a full-fledged budget accompanied by an election campaign speech.

Acting Finance Minister Piyush Goyal on Interim Budget 2019

Addressing a press conference, Acting Finance Minister Piyush Goyal asserted that those sitting in AC rooms cannot understand the plight of the small farmers. Keeping this in mind, we have introduced Pradhan Mantri Kisan Samman Nidhi scheme. This is a historic decision.

Swaraj India president Yogendra Yadav criticises Budget 2019

Swaraj India president Yogendra Yadav has termed the Budget 2019 as salt in the wounds of farmers. He noted that the Rs 6,000 a year for a family of 5 translates to Rs. 3.3 a day, adding that it is even lower than MNREGA or old-age pension.

Uttar Pradesh Chief Minister Yogi Adityanath says Budget 2019 will help achieve the dream of New India

While appreciating the interim budget 2019 presented by Acting Finance Minister Piyush Goyal, Uttar Pradesh Chief Minister Yogi Adityanath said that the budget mentions all sections of the society incl farmers, middle class, poor & women, adding that the budget will help achieve the dream of New India.

Senior Congress leader Shashi Tharoor on Interim Budget 2019

Senior Congress leader Shashi Tharoor has termed the Interim Budget 2019 as a squib. He said that there are multiple good things for the middle class, including tax exemption and Rs 6000 in income support for farmers boils down to Rs 500 per month. However, he complained that the changes are not enough to enable them to live with honour and dignity.

Lok Sabha adjourned till Monday

Lok Sabha speaker Sumitra Mahajan has adjourned the house till Monday. The budget session started on Thursday and will continue till February 13, 2019.

Interim budget is foundation layout for a new India

In his concluding comments, Finance Minister Piyush Goyal said that this is not just an interim budget, it is the foundation layout for a new India. "Ye desh ki vikas yatra ka madhyam hai."

Standard deduction increased to Rs 50,000 from Rs 40,000.

All interest income above Rs 40,000 from bank deposits will now get taxed and not Rs 10,000. Standard deduction increased to Rs 50,000 from Rs 40,000. Income tax will be levied on the second self-occupied house, announces Piyush Goyal.

Full tax rebate for income up to Rs 5 lakh

Full tax rebate for income up to Rs 5 lakh. Piyush Goyal announces full tax rebate for income up to Rs 5 lakh and people with gross income and investment 6.5 lakh will be exempted.

Rs 20,000 crore for farmer, Rs 75,000 crore for the next year

Finance Minister said that the Fiscal deficit for the year 2019-20 has been noted 3.3 %. "We could have clocked fiscal deficit at 3.4 % but we have provided Rs 20,000 crore for farmer aid in this year and Rs 75,000 crore for the next year.

5 trillion dollars economy in next 5 years

FM said that India will become a 5 trillion dollars economy in the next five years, and target for the next 8 years is to become a 10 trillion dollar country. He said every Indian will have a roof in the forthcoming years with a healthy life, clean environment.

NO CHANGE IN TAX SLABS

The FM announced no changes in income tax slabs but made the filing returns easier. Piyush Goyal said that claims it will be processed within 24 hours. Within nearly two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by officials.

Government is committed to work against black money

Speaking on Demonetisation while reading out Budget speech, Finance Minister Piyush Goyal says that the note ban was a drive against black money. Finance Minister Piyush Goyal says the government is committed to work against black money.

Rs 1 lakh crore GST collections in Jan

GST collections in January expected to cross Rs 1 lakh crore. Demonetisation worked against black money. The anti-black money measures taken by the Narendra Modi government forced black money holders to declare 1 lakh 30 thousand crores.

Most items of daily use are now in the 0%-5% tax bracket: Piyush Goyal

GST has been continuously reduced resulting in relief of Rs 80,000 crore rupees to the consumers; Most items of daily use are now in the 0%-5% tax bracket. The Group of Ministers is examining how prospective house buyers can benefit under Goods & Services Tax (GST): Piyush Goyal

Efforts to reduce burned from homebuyers

GST burden on homebuyers will be reduced, so the Finance Ministry has requested the GST Council to set up a group of ministers to work out to reduce the burden on homebuyers.

Income Tax collection rose from Rs 6 lakh crore to 12 lakh crore

Goyal said the government simplified Direct Tax rules and eliminated middlemen. As a result, tax collection increased from Rs 6 lakh crore to Rs 12 lakh crore while tax returns increased from 3.7 crore to 6 crore. Tax payers imposed their faith in Modi government as a result 99.54% tax returns were accepted in 2018, Goyal added. He also assured that all returns will be processed in 24 hours.

Swachh Bharat a national movement

Under the Narendra Nodi government sanitation has been improved as India achieved over 98% rural sanitation coverage. The Swachh Bharat now a national movement under which 5.45 lakh villages declared ODF.

100 airports in India

More than 100 airports have been built in India and the number is far below the target. Arunachal Pradesh came on the Air mark and the train routes for the first time Meghalaya and other eastern states.

Rs 35,000 crore approved for OROP

Rs 35,000 crore has been allocated under the OROP (One Rank One Pension) scheme so far by the BJP government. Government is eyeing to set up a national centre for artificial intelligence to advance the AI programmes.

Job seekers are now job creators

While presenting the Interim Budget finance minister said that India's Job seekers have become job creators under the Narendra Modi government. Youth is taking the flyway as jobs in the aviation sectors have been doubled.

Pension scheme is being launched called Pradhan Mantri Shram Yogi Mandhan: Goyal

Goyal said a pension scheme is being launched called Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of 3,000 rupees per month, with the contribution of 100 rupees per month, for workers in unorganised sector after 60 years of age. Instead of rescheduling of crop loans, the farmers severely affected by natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment.

Ujjwala Yojana benefitted 6 crore people

Piyush Goyal says 6 Crore people have been benefitted under Ujjwala Yojana and its a remarkable decision of the Modi government. Financial support to the pregnant women will be provided.

Rs 500 crores for Pradhan Mantri Shram Yogik scheme

Yes to Rs 500 crores for the Pradhan Mantri Shram Yogik scheme. The government has increased the gratuity payment limit from Rs 10 lakh to Rs 20 lakh. The government will give a monthly pension of Rs 3,000 to workers of the unorganised sector.

50% hike for Anganwadi workers

Finance Minister announced 50% increment for Anganwadi workers. Finance Minister announced 50% increment for Anganwadi workers. ESI eligibility cover limit has been raised to Rs 21,000 per month from Rs 15,000 per month. FM said that the under the new pension scheme employee's contribution will be 10% and the government will contribute 10% to 14%.

Animal husbandry farmers to get 2 % interest subsidy

The farmers involved in animal husbandry activities will get 2 % interest subsidy through kisaan credit card scheme. While additional 3 % subsidy will be given on timely repayment of loans, announce Finance Minister Piyush Goyal.

12 crore small framers to get Rs 6,000 per month under the PM Kishan Yojana: Goyal

Speaking on minimum support income scheme, Piyush Goyal said at least 12 crore small framers up to 2 hectares of land (2.5 acres) landholding will get Rs 6,000 per year under the Pradhan Mantri Kisan Samman Nidhi. The amount will be transferred directly to farmers' bank accounts in three instalments.

Modi govt achieved 98% rural sanitation coverage: Goyal

Piyush Goyal said efforts have been initiated to bring full representation for economically weak backward classes, by giving them reservation in jobs and education. As a tribute to Mahatma Gandhi, world's largest behavioural change movement Swachh Bharat initiated; more than 98% rural sanitation coverage has been achieved; more than 5.45 lakh villages declared ODF, he added.

7th Pay Commission Interim Budget 2019 Piyush Goyal Live updates

Finance Minister said that under the Mahatma Gandhi National Rural Employment Guarantee program’s allocation increased by Rs 5000 crore to Rs 60,000 crore.

Govt attempted to break urban-rural divide, tripled construction of rural roads: Goyal

The NDA ran a corruption-free government and allowed 10 % quota to the poor because the poor have the first right over the nation's resources. The government also attempted to break the urban-rural divide in the country and tripled construction of rural roads. It allocated over Rs 60, 000 crore fund for MNREGA scheme.

Narendra Modi government ran a corruption-free government

Finance Minister Piyush Goyal said that the Narendra Modi government ran a corruption-free government, which benefitted 1.25 billion people of India. For the poor, Narendra Modi government has reserved 10 EWS quota for admission in educational institutes and government jobs.

Fiscal deficit brought down to 3.4 per cent in revised estimate of 2018-19

Finance Minister Piyush Goyal in his Budget speech said the fiscal deficit has been brought down to 3.4 per cent in the revised estimate of 2018-19. The inflation in December 2018 was at its lowest -2.1 per cent. Apart from that, the NDA government gave a higher share of taxes to states.

7th Pay Commission Interim Budget 2019 Piyush Goyal Live updates

The farmer incomes have been doubled, Finance Minister Piyush Goyal. He added that farmers greeted with boos from the opposition benches. Goyal said that if the Modi government had not controlled inflation, our families would have been spending 35-40% more on basic amenities today.

Pandemonium in House as Piyush Goyal delivers Budget speech

Opposition leaders including the Congress created ruckus inside Parliament while Piyush Goyal prepared to present the Union Budget 2019. Goyal said India is back on track and become the fastest growing economy. The NDA government has removed the policy paralysis and we will realise a new India in 2022.

7th Pay Commission Interim Budget 2019 Piyush Goyal Live updates

Finance Minister says NDA brought the inflation rate down to 2.19% in last December. Its a big success for Narendra Modi government. Fiscal deficit brought down.

7th Pay Commission Interim Budget 2019 Piyush Goyal Live updates

Finance Minister Piyush Goyal, who took over the charge from Arun Jaitley, is presenting the Interim Budget in house. Goyal says that NDA government is continuously working towards the betterment of farmers.

Current minimum pay to central employees may be revised to Rs 26,000

More than 68 lakh central employees are in for a surprise before the Lok Sabha elections scheduled to be held in April, May this year. In the budget, the current minimum pay to the central employees, that is Rs 18,000 may be revised to Rs 26,000 and the fitment factor that is currently at 2.57 times to 3.68 times.

7th Pay Commission Interim Budget 2019 Piyush Goyal Live updates

Finance Minister Piyush Goyal is all set to present the Interim Budget 2019. He has already reached the Parliament after meeting President Ramnath Kovind. Piyush Goyal is expected to present the Interim Budget at around 11 am.

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