Union Budget 2016

Bade powerful aadmi hain Narendra Modi, pata hai mujhe. Lekin aap logon ko kucch bolna chahiye: Rahul Gandhi in LS & mdash; ANI (@ANI_news) March 2, 2016

Arun Jaitley came to me and said that there was no better scheme than MNREGA, I asked him why he doesn't tell that to his boss, says Rahul Gandhi

Babbar sher dikha dia (Make In India icon). Mai puchhta hun aapne kitne logon ko rozgaar dia? Rahul Gandhi in Lok Sabha & mdash; ANI (@ANI_news) March 2, 2016

Make In India ka babbar sher (lion) taiyyar kia. jahan dekho babbar sher. TV mein dekho babbar sher: Rahul Gandhi in LS & mdash; ANI (@ANI_news) March 2, 2016

Rahul Gandhi to PM Modi as PM walked into LS: Namaskar, apne suna nahin, fair and lovely yojna ke baare Mein Bol raha tha & mdash; ANI (@ANI_news) March 2, 2016

Modi ji nay naukriya promise kari thhi, Babbar sher to bana diya har jagah, kitne rozgaar diye ye to batao?: Rahul Gandhi in LS & mdash; ANI (@ANI_news) March 2, 2016

Main RSS wala nahi hoon,mujhse ghaltiyaan hoti hain-Rahul Gandhi in LS pic.twitter.com/Eqf5gRxKFC & mdash; ANI (@ANI_news) March 2, 2016

Mai kuch jaanta nhi hun, kuch samajhta nhi hun. Mai janta ko sunta hun, unhe samajhta hun, phir iss house mein bolta hun-Rahul Gandhi in LS & mdash; ANI (@ANI_news) March 2, 2016

Before elections PM Modi said Dal is Rs 70/kg and he promised to bring down prices, but now Dal is Rs 200/kg, says Rahul Gandhi in Lok Sabha

PM Modi had promised that he will put people with black money behind bars, now they have come up with this new way to save those people

They launched a "Fair & Lovely" yojana, to convert black money to white money, Rahul Gandhi says in Lok Sabha

ANI

Finance minister Arun Jaitley on Monday has favoured consolidation of public sector banks, which will see capital infusion of Rs 25,000 crore next fiscal, once their balance sheets are strengthened.

Seeking to fund its green initiatives, the government on Monday proposed to substantially increase the existing 'clean energy cess' on coal, lignite and peat from Rs 200 per tonne to Rs 400 per tonne and levy a new infrastructure cess on carbon emitting cars.

Looking beyond food security, the government in its Budget on Monday set its target to double the income of farmers by 2022 and made multiple financial provisions to achieve this goal through making substantial hike in its allocation to the agriculture and allied sector.

Overall investment has gone up in the agricultural sector, which was lymping

Steps to encourage domestic patent regime proposed in Budget

In order to encourage R&D in India, Finance Minister Arun Jaitley today proposed a special patent regime under which 10 per cent tax on income will be charged on commercial exploitation of patents developed and registered in India.

"I propose a special patent regime with 10 per cent rate of tax on income from worldwide exploitation of patents developed and registered in India," he said in the Budget speech.

The Budget memorandum said "in order to encourage indigenous research and development (R&D) activities and to make India a global R&D hub, the government has decided to put in place a concessional taxation regime for income from patents".

'Disappointed that @arunjaitley did not address sugarcane crisis' - Naresh Tikait, Bhartiya Kisan Union (BKU) #Budget2016 @timesofindia — Uday Singh Rana (@UdayRanaTOI) February 29, 2016

Government to borrow Rs 4.2 lakh crore in FY17

Government will borrow Rs 4.2 lakh crore from the market in 2016-17, down from Rs 4.4 lakh crore in the current fiscal.

The budgeted target for borrowing in current fiscal was Rs 4.5 lakh crore, but the government will raise only Rs 4.4 lakh crore from the markets, as per the Budget papers presented by Finance Minister Arun Jaitley in Parliament today.

"By containing fiscal deficit for next fiscal at 3.5 per cent, we have ensured that the borrowing from the market is kept at the minimal level. It's Rs 4.2 lakh crore," Economic Affairs Secretary Shaktikanta Das said.

By 2017 end we want every village in the nation to get electricity

Finance minister is very clear that we will do whatever it takes to support our banks

Consumers were expecting prices of cars to go up before the budget, but they didn't quite expect it would hit so hard. In the Union Budget 2016, presented in Parliament on February 29, finance minister Arun Jaitley gave the auto industry a jolt in the form of new cesses on all cars.

There is a lukewarm reference to #GST bills but there is no promise of accomodating the legitimate criticism of Opposition- P Chidambaram — ANI (@ANI_news) February 29, 2016

Govt is boasting that they collected more tax than ever. It was only due to excise on Crude & not from corporate tax: Chidambaram

There is no major initiative in increasing productivity of crucial crops: P Chidambaram

I am happy that UPA schemes are being continued in agriculture sector: Chidambaram

One big takeaway from the Union Budget is that there is no new idea

NDA has followed its own brand of budget making, says P Chidambaram (Congress) pic.twitter.com/Ck054Ln6Dh — ANI (@ANI_news) February 29, 2016

#BudgetWithTOI: GST will be implemented by amendment and budget is a step in that direction:@arunjaitley
Track live: https://t.co/On8fru8t9f — Times of India (@timesofindia) February 29, 2016

As far as public sector banks are concerned, govt has already said that it'll bring down equity in long run to 52%: Jaitley

There can't be premium on either avoidance or evasion, says Arun Jaitley

Philosophy of this budget is to take little from the rich & provide relief to poor

My 1st reaction to union budget : financial injustice to Delhi continues - no change in share in central taxes. Will speak in detail later. — Manish Sisodia (@msisodia) February 29, 2016

Main aim of upcoming Aadhar legislation is targeted disbursal of subsidies

The Budget team concluded that an overriding central legislation is required on ponzi schemes: Finance minister

This Budget contains the largest ever simplification in tax laws

Budget 2016 cannot be bracketed as either pro-left or pro-right, Arun Jaitley says

Bank recap plan announced today 'not the last word'. Received divergent views on sticking to fiscal deficit targets: Arun Jaitley

Agriculture has been given the top most priority in the Budget 2016

This Budget deals with reality of India, Arun Jaitley says

While we stick to 3.5% fiscal deficit target this year, we will look at the option of a range in future

Finance minister speaks on the decision regarding fiscal deficit target in Budget 2016

We are expecting a growth rate of 17% in tax revenue in current year as per revised estimates- Financial Services Secretary — ANI (@ANI_news) February 29, 2016

BJP vowed to bring back black money through enforcement, not through amnesty schemes. This is what Chidambaram also did. What is the difference?

Nothing for middle class in this budget. Modi govt cheated middle class which votes for them — Arvind Kejriwal (@ArvindKejriwal) February 29, 2016

Ensured that government borrowing required from market at a minimum level: Expenditure Secretary

.@FinMinIndia at the post-Budget press conference: Overall, the budget is a transformative and credible one — Times of India (@timesofindia) February 29, 2016

Will meet fiscal deficit target, medium term fiscal framework will be looked into: Finance secretary

FY16 fiscal deficit target has been achieved without spending cuts

Sensex falls 152 points on Budget day to end at 23,002; Nifty at 6,987