Union Budget 2018 presentation | As it happened

The middle-class, which hoped for a reduction in income tax ahead of an election year, were left disappointed as the personal income tax rates remain unchanged.

Published: 01st February 2018 09:33 AM  |   Last Updated: 01st February 2018 04:29 PM   |  A+A-

Union Finance Minister Arun Jaitley presents the Union Budget at Parliament in New Delhi. (PTI)

By Online Desk

NEW DELHI: The last full-fledged budget of the Narendra Modi-led NDA government has concluded. Finance Minister Arun Jaitley has announced several developmental schemes keeping in focus the rural and middle-class population.

IN PICTURES | Union Budget 2018

However, the middle-class, which hoped for a reduction in income tax ahead of an election year, were left disappointed. The personal income tax rates remain unchanged.

03:54 Feb 1

AAP leader Manish Sisodia echoes Delhi CM Kejriwal

03:53 Feb 1

Congress leader Priyanka Chaturvedi

03:52 Feb 1

Aam Aadmi Party leader and Delhi CM Arvind Kejriwal

03:50 Feb 1

Congress leader Sanjay Jha

03:48 Feb 1

Not a populist budget as such: Shehzad Poonawalla

03:43 Feb 1

Congress leader Tehseen Poonawalla

03:40 Feb 1

MoS Jitendra Singh

"Keeping focus on 'ease of living' the budget has kept people of all segments in mind."

03:15 Feb 1
03:12 Feb 1

Union Minister Ananth Kumar Hegde

"It's a transformational budget, and it will bring about a positive change in everyone's lives. It's a budget for the common man, the farmers and for the nation."

03:09 Feb 1

Congress leader Randeep S Surjewala calls budget as 'jumlanomics'

03:07 Feb 1

Congress MP Ahmed Patel reacts

02:57 Feb 1

Union Minister Smriti Irani

"I want to congratulate Prime Minister Narendra Modi on announcing the world's biggest national health protection scheme. This budget is for the development of the poor, senior citizens and women, for farmers and increasing their income."

02:38 Feb 1

Rashtriya Janata Dal leader Tejashwi Yadav calls increase of MSP for farmers a sham.

"The budget is quirk with the farmers. The minimum support price for wheat is Rs 1600 per Quintals but no wheat will be bought at that price in the market. The farmer will be forced to sell wheat for Rs 1300. What is the point of giving the MSP multiplied one and a half times? Do not decide the fate of farmers sitting in air-conditioned rooms."
02:31 Feb 1

Samajwadi Party leader Akhilesh Yadav calls budget a disastrous one.

"Disappointment to poor farmers and labourers; Frustration to unemployed youth; Slap on the mouths of businesses, women, goodwill and ordinary people. It is a disastrous government budget that ignores the troubles of the public. The BJP showed that it is only a processionary to the rich. Now the public will respond."

02:26 Feb 1

Union Minister MJ Akbar

"In the 1 hour 45 minute speech, 1 hour was for the poor, this is indeed historic. The opposition has become too pessimistic."

02:23 Feb 1

Nitin Gadkari praises budget

02:22 Feb 1

Sitaram Yechury slams increase of education, health cess

02:19 Feb 1

Union Home Minister Rajnath Singh

"It's a grand budget, lot of announcements for the poor, farmers and tribals. This budget will also cement India as a global economic power."

02:17 Feb 1

Railway minister Piyush Goyal reacts

02:16 Feb 1

PM Modi says farmers, Dalits, tribal communities will gain from the budget, which will create new opportunities for rural India.

02:12 Feb 1

Former Prime Minister HD Deve Gowda

"The Finance Minister has tried to make improvements for farmers but the problems of farmers and rural people are enormous. Measures may not be sufficient."

02:08 Feb 1

BJP Chief Amit Shah reacts

02:02 Feb 1

Union minister Nitin Gadkari

"Medical insurance of Rs 5 lakh for 10 crore families is a huge initiative. This is a historic budget."

01:55 Feb 1
"This budget will accelerate economic growth, it is focused on all sectors," says PM Modi.
01:54 Feb 1
I congratulate the Finance Minister for the decision regarding Minimum Support Price. I am sure it will help the farmers tremendously: PM Modi
01:47 Feb 1

Bihar Chief Minister Nitish Kumar

"A national health protection scheme to benefit 10 crore poor families announced, it is a huge initiative. I would like to congratulate the government."

01:45 Feb 1

Hell hath no fury like a nation scorned: Congress leader Manish Tiwari

01:41 Feb 1

Madhya Pradesh CM Shivraj Singh Chouhan reacts to the budget.

01:35 Feb 1

Maharashtra CM Devendra Fadnavis hails budget.

01:32 Feb 1
01:32 Feb 1

CPI (M) leader Sitaram Yechury calls budget 'unconnected to ground reality'.

01:14 Feb 1
12:59 Feb 1
Sensex at 35,526.23, down by 438.79 points from morning trade.
12:58 Feb 1
Union Finance Minister Arun Jaitley concludes his budget speech.
12:57 Feb 1
"Tax on distributed income of equity oriented mutual funds announced at the rate of 10 per cent."
12:53 Feb 1
"Cash payments exceeding Rs 10,000 by trusts and institutions will be disallowed in a bid to curb cash economy."
12:52 Feb 1
"Education cess, which is levied on individual and corporate income, increased to 4 per cent from 3 per cent to collect additional Rs 11,000 crore."
12:51 Feb 1

Mobile phones to get costlier as excise duty raised from 15 per cent to 20 per cent.


12:48 Feb 1
"Short-term capital gains tax continues at 15 per cent."
12:46 Feb 1
"Now, senior citizens can invest up to Rs 15 lakh in interest-bearing LIC schemes. It has been doubled from Rs 7.5 lakh."
12:43 Feb 1
"Rs 50,000 additional benefit to senior citizens for investment in mediclaim."
12:41 Feb 1
"For senior citizens, exemption of interest income on bank and post office savings deposits raised to Rs 50,000."
12:40 Feb 1

"Standard deduction will benefit 2.5 crore people, including pensioners."

12:36 Feb 1

Standard deduction of Rs 40,000 in lieu of existing reimbursement of medical expenses and transport allowance.

12:33 Feb 1
"No change in personal income tax structure."
12:33 Feb 1
"Corporate Tax for companies with turnover of up to Rs 250 crore cut to 25 per cent."
12:29 Feb 1
"Gold monetisation scheme being revamped so that people can open gold deposit accounts in a hassle-free manner."
12:28 Feb 1
"Projected fiscal deficit for 2018-19 is 3.3 per cent of GDP."
12:27 Feb 1
"Effective tax payers in India now 8.27 crore."
12:27 Feb 1
"Excess revenue collected from personal income tax amounts to Rs 90,000 crore."
12:24 Feb 1
"NITI Aayog to establish a national programme for artificial intelligence."
12:23 Feb 1
"24 Public Sector Units to be divested including Air India."
12:23 Feb 1
"Government insurance companies to be merged into a single entity, and subsequently listed in the stock exchange, as part of the disinvestment programme."
12:23 Feb 1
"Government will assign every enterprise in India a unique ID on the lines of Aadhaar."
12:22 Feb 1
"Law to be introduced to fix salaries of Members of Parliament every 5 years indexed to inflation."
12:20 Feb 1
"Salary of President raised to Rs 5 lakh per month, Vice President Rs 4 lakh, governors Rs 3.5 lakh."
12:18 Feb 1

We will take all steps to eliminate the use of Cryptocurrencies

"We will encourage Blockchain technology in payment systems."
12:17 Feb 1
"The Disinvestment target for 2018-19 is Rs 80,000 crore."
12:15 Feb 1
"Rs 5.97 lakh crore allocated for infrastructure spending in India."
12:13 Feb 1
"SEBI may consider mandating large corporates to use bond market to finance one-fourth of their fund needs."
12:12 Feb 1
"5 lakh wi-fi spots to be set up for the benefit of 5 crore rural Indians."
12:11 Feb 1
"An institute is coming up in Vadodara to train the manpower required for the high speed railway projects."
12:09 Feb 1
"Escalators to be built at stations which have footfall of over 25,000."
12:08 Feb 1
"AMRUT program to focus on water supply to all households in 500 cities. Water supply contracts for 494 projects worth 19,428 core awarded."
12:08 Feb 1
"12,000 wagons, 5160 coaches and 700 locomotives being procured."
12:07 Feb 1
"Airport capacity to be raised to handle 1 billion trips per year."
12:07 Feb 1
"150 km additional suburban railway network all over country at the cost of Rs 40,000 crore proposed."
12:06 Feb 1
"In addition to wi-fi, all trains will soon have CCTV surveillance for increased security."
12:06 Feb 1
"Over Rs 1.48 lakh crore to be allocated for railways in next fiscal."
12:05 Feb 1
"UDAN scheme to connect 56 unserved airports and 31 unserved helipads."
12:04 Feb 1

"10 cities will be developed into iconic tourist destinations."

12:04 Feb 1

"Construction of a tunnel under the Se-La pass in Arunachal Pradesh proposed."

12:03 Feb 1

"Rs 11,000 crore allocated for Mumbai rail network, Rs 17,000 crore for Bengaluru Metro network."

12:02 Feb 1

All railway stations and trains to have wi-fi facilities


12:01 Feb 1
"Rs 50 lakh crore needed for infrastructure building."
12:00 Feb 1
"Government to soon announce scheme to address the issue of Non-Performing Assets."
12:00 Feb 1
"Target for loan disbursement under Mudra scheme set at Rs 3 lakh crore for next fiscal."
11:58 Feb 1
"Women’s contribution towards Provident fund reduced to 8 percent in the first three years for new PF accounts."
11:58 Feb 1
"Rs 2.04 lakh crore allocated to smart cities mission under which 99 cities will be developed."
11:57 Feb 1
"Rs 7148 crore allocated for textile sector."
11:56 Feb 1
"Government to contribute 12 per cent of wages of new employees to Employee Provident fund for three years."
11:53 Feb 1
"Crop production is at record high. The government is committed to giving 50 per cent more than cost of crop production to farmers."
11:52 Feb 1
"India produced over 275 million tonnes of food grains and 300 million tonnes of fruits and vegetables in 2016-17."
11:52 Feb 1
"Direct Benefit Transfer is a global success story."
11:50 Feb 1
"Technology will be the biggest driver in improving quality of education. We propose to increase the digital intensity in education and move gradually from blackboard to digital board."
11:48 Feb 1
"Government to set up PM Research Fellow Scheme, for which 1000 B Tech students are to be selected."
11:47 Feb 1
"Rs 600 crore allocated for nutritional support to all Tuberculosis patients."
11:47 Feb 1
"Government to set up two new full-fledged Schools of Planning and Architecture."
11:46 Feb 1
"115 districts to be identified for development work in health, infrastructure etc. THese districts will be role models of development."
11:44 Feb 1
"187 projects approved for infrastructure and river surface cleaning."
11:44 Feb 1
"The National health protection scheme will benefit 50 crore people."
11:43 Feb 1
"Rs 1200 crore allotted for health and wellness centres. Government to initiate two major schemes as part of Ayushman Bharat program."
11:42 Feb 1
"24 new government medical colleges to be set up. The aim is to have one medical college for every three parliamentary constituencies."
11:41 Feb 1
"10 crore poor families to get Rs 5 Lakh insurance cover each."
11:40 Feb 1
"World's largest health care program to be implemented."
11:39 Feb 1
"Government to launch 'Revitalising Infrastructure and Systems' in Education by 2022 with Rs 1 Lakh crore."
11:38 Feb 1
"Government to set up Eklavya schools for tribal children."
11:36 Feb 1

"Government to initiate integrated B Ed programs for teachers."


11:34 Feb 1
11:33 Feb 1
"Rs 14.3 lakh crore to be spent to improve rural livelihood."
11:30 Feb 1
"Rs 16,000 crore allocated to Pradhan Mantri Saubhagya Yojana."
11:28 Feb 1
"Proposed to raise institutional credit for agriculture to Rs 11 Lakh Crore for 2018-19."
11:28 Feb 1
"8 crore free gas connections for women under Ujwala scheme."
11:27 Feb 1
"PM Modi has articulated the vision of minimum government, maximum governance."
11:26 Feb 1
"Kisan credit card to be extended to fisheries, animal husbandry farmers."
11:26 Feb 1
"Punjab, Haryana, Delhi and NCR to reduce air pollution by in-seeking management of crop residue."
11:25 Feb 1
"A favourable taxation treatment to help farmer producer organisations."
11:24 Feb 1
"Rs 10,000 crore for fisheries and Animal Husbandry corpus fund."
11:21 Feb 1
"42 mega food parks to be set up. Government to set MSP at one-and-half times the cost of production for Kharif crops."
11:21 Feb 1
"Agri-Market Development Fund with a corpus of 2000 crore to be set up for developing agricultural markets."
11:20 Feb 1
"Rs 1400 crore allotted for food processing."
11:19 Feb 1
"Government focusing on ease of living now."
11:18 Feb 1
"Introduction of GST has made indirect tax system simpler."
11:17 Feb 1
"India is today a USD 2.5 trillion economy and will become fifth largest economy in the world from the present seventh largest."
11:16 Feb 1
"Exports to grow by 17 per cent in 2017-18."
11:13 Feb 1
"We consider agriculture as an enterprise and we will focus on increasing the on-farm and non-farm income of farmers."
11:09 Feb 1
Demonetisation has reduced the circulation of black money and has boosted digital transactions: Jaitley
11:08 Feb 1
Indian economy has performed very well since our government took over in May 2014. It is now the seventh largest in the world, says Arun Jaitley.
11:04 Feb 1

Finance Minister Arun Jaitley starts presenting the Budget.

10:53 Feb 1

PM Narendra Modi and Union Ministers Sushma Swaraj and Ram Vilas Paswan arrive at the Parliament.

10:33 Feb 1

The Finance Minister is also expected to address the media at around 3.30 pm this afternoon.

10:31 Feb 1

Earlier, Jaitley, carrying the symbolic cherry-brown briefcase containing the Budget, was seen at the Ministry of Finance (North Block) along with Finance Secretary Dr Hasmukh Adhia, CEA Arvind Subramanian, Economic Affairs Secretary Subhash Chandra Garg.

10:25 Feb 1
10:23 Feb 1

Cabinet meeting begins inside Parliament ahead of Union Budget 2018.

09:56 Feb 1

Finance Minister Arun Jaitley arrives at the Parliament to present the Union Budget 2018.

09:56 Feb 1

Finance Minister Arun Jaitley met President Ram Nath Kovind at Rashtrapati Bhavan before presenting the Union Budget 2018-19 in the Parliament.

09:49 Feb 1
09:49 Feb 1

Sensex opens at 36,127.20, Nifty at 11,067.25.

09:41 Feb 1

Finance Minister Arun Jaitley arrives at the Ministry of Finance.

09:36 Feb 1

Tight security outside Finance Ministry ahead of the Budget

09:36 Feb 1

It will be a good budget. It will be for the benefit of the common people: Shiv Pratap Shukla, MoS, Finance to ANI.


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