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THE TIMES OF INDIA | Mar 02, 2016, 16:52:14 IST
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Union Budget 2016
Arun Jaitley said the Union Budget is aimed at improving rural infrastructure and increasing rural income as the biggest challenge to the economy is agrarian distress. Stay with us for live updates.
16:52 (IST) Mar 02
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
16:51 (IST) Mar 02
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
16:51 (IST) Mar 02
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
16:51 (IST) Mar 02
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
16:51 (IST) Mar 02
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
16:51 (IST) Mar 02
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
16:49 (IST) Mar 02
Main RSS wala nahi hoon,mujhse ghaltiyaan hoti hain-Rahul Gandhi in LS pic.twitter.com/Eqf5gRxKFC & mdash; ANI (@ANI_news) March 2, 2016
16:49 (IST) Mar 02
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
16:48 (IST) Mar 02
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
16:47 (IST) Mar 02
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
Rahul Gandhi
16:47 (IST) Mar 02
They launched a "Fair & Lovely" yojana, to convert black money to white money, Rahul Gandhi says in Lok Sabha
ANI
21:42 (IST) Feb 29
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.
21:37 (IST) Feb 29
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.
21:15 (IST) Feb 29
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.
19:36 (IST) Feb 29
Overall investment has gone up in the agricultural sector, which was lymping
Rajiv Pratap Rudy, BJP
19:11 (IST) Feb 29
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".
"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".
18:48 (IST) Feb 29
'Disappointed that @arunjaitley did not address sugarcane crisis' - Naresh Tikait, Bhartiya Kisan Union (BKU) #Budget2016 @timesofindia — Uday Singh Rana (@UdayRanaTOI) February 29, 2016
18:48 (IST) Feb 29
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.
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.
18:46 (IST) Feb 29
By 2017 end we want every village in the nation to get electricity
Piyush Goyal, Minister of power
18:13 (IST) Feb 29
Finance minister is very clear that we will do whatever it takes to support our banks
Jayant Sinha, MoS Finance
17:41 (IST) Feb 29
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.
16:48 (IST) Feb 29
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
16:46 (IST) Feb 29
Govt is boasting that they collected more tax than ever. It was only due to excise on Crude & not from corporate tax: Chidambaram
16:45 (IST) Feb 29
There is no major initiative in increasing productivity of crucial crops: P Chidambaram
16:45 (IST) Feb 29
I am happy that UPA schemes are being continued in agriculture sector: Chidambaram
16:44 (IST) Feb 29
One big takeaway from the Union Budget is that there is no new idea
P Chidambaram
16:44 (IST) Feb 29
NDA has followed its own brand of budget making, says P Chidambaram (Congress) pic.twitter.com/Ck054Ln6Dh — ANI (@ANI_news) February 29, 2016
16:29 (IST) Feb 29
#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
16:23 (IST) Feb 29
As far as public sector banks are concerned, govt has already said that it'll bring down equity in long run to 52%: Jaitley
16:23 (IST) Feb 29
There can't be premium on either avoidance or evasion, says Arun Jaitley
16:22 (IST) Feb 29
Philosophy of this budget is to take little from the rich & provide relief to poor
Yashwant Sinha
16:21 (IST) Feb 29
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
16:20 (IST) Feb 29
Main aim of upcoming Aadhar legislation is targeted disbursal of subsidies
Jaitley
16:18 (IST) Feb 29
The Budget team concluded that an overriding central legislation is required on ponzi schemes: Finance minister
16:17 (IST) Feb 29
This Budget contains the largest ever simplification in tax laws
Finance minister
16:16 (IST) Feb 29
Budget 2016 cannot be bracketed as either pro-left or pro-right, Arun Jaitley says
16:15 (IST) Feb 29
Bank recap plan announced today 'not the last word'. Received divergent views on sticking to fiscal deficit targets: Arun Jaitley
16:15 (IST) Feb 29
Agriculture has been given the top most priority in the Budget 2016
Arun Jaitley
16:11 (IST) Feb 29
This Budget deals with reality of India, Arun Jaitley says
16:09 (IST) Feb 29
While we stick to 3.5% fiscal deficit target this year, we will look at the option of a range in future
Arun Jaitley
16:08 (IST) Feb 29
Finance minister speaks on the decision regarding fiscal deficit target in Budget 2016
16:07 (IST) Feb 29
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
15:58 (IST) Feb 29
BJP vowed to bring back black money through enforcement, not through amnesty schemes. This is what Chidambaram also did. What is the difference?
Arvind Kejriwal
15:57 (IST) Feb 29
Nothing for middle class in this budget. Modi govt cheated middle class which votes for them — Arvind Kejriwal (@ArvindKejriwal) February 29, 2016
15:50 (IST) Feb 29
Ensured that government borrowing required from market at a minimum level: Expenditure Secretary
15:49 (IST) Feb 29
.@FinMinIndia at the post-Budget press conference: Overall, the budget is a transformative and credible one — Times of India (@timesofindia) February 29, 2016
15:48 (IST) Feb 29
Will meet fiscal deficit target, medium term fiscal framework will be looked into: Finance secretary
15:47 (IST) Feb 29
FY16 fiscal deficit target has been achieved without spending cuts
Finance Secretary
15:45 (IST) Feb 29
Sensex falls 152 points on Budget day to end at 23,002; Nifty at 6,987
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