11:02 AM
FM Nirmala Sitharaman applauds the achievements of the Indian economy in the last ten years. Emphasizes the social and economic developments and the increased access to food for all underprivileged citizens.
India on the Road to "Atmanirbhar Bharat".
The government has elevated 25 Crore people from poverty. PM Jan Dhan's Accounts have resulted in 2.7L tremendous savings for the Indian government.
11:10 AM
Skill India Mission changed the lives of 1.4 Crore youths, upskilled and reskilled a lot of them.
11:15 AM
Female enrollment in schools has increased over the last 10 years. 70% of housing under PM Awaaz Yojana was provided to women. 34 cr Mudra Yojana loans have been given to women entrepreneurs.
11:17 AM
Economic Management
All infrastructures are being built in record time. Tax reform led to the widening of tax collections. Inflation kept under moderation
11:26 AM: Housing
The government will launch a scheme to help deserving sections of the middle class, as quoted by PM Modi, "living in rented houses, slums or chawls or unauthorized colonies"-- to buy or build their own houses.
11:29 AM: Economic Policies
The government will adopt economic policies that foster and sustain growth, said FM Sitharaman. It will be guided by principles of Reform, Perform and Transform.
11:33 AM: Agriculture
A plan to achieve self-reliance in oilseeds such as sesame, sunflower, and mustard will be developed, along with a comprehensive program to support dairy farmers, according to Nirmala Sitharaman.
11:34 AM: Tech Growth
A corpus of Rs 1 lk cr will be established with 50 yr interest-free loan tech-savvy growth. The corpus will provide long-term financing with long tenors and low/nil interest rates. This will encourage pvt sectors to scale up Research and innovation significantly in sunrise domains.
Budget raises capex target by 11.1% to Rs 11.11 lakh crore to steer India’s economy to third-largest spot
11:36 AM: Railways
Finance Minister Nirmala Sitharaman has announced the creation of three new corridors - the port connectivity corridor, the energy, mineral, and cement corridor, and the high traffic density corridor.
11:44 AM: Societal Challenges
The government will establish a committee to advise on how to tackle the challenges caused by population growth.
11:45: Green Growth
To promote green growth, Nirmala Sitharaman announced the launch of a new scheme for biomanufacturing and foundry.
PART B
11:51 AM: Taxation
GST is seen as a positive change. Over the last ten years, tax collections have more than doubled, says FM. While announcing the federal budget for this fiscal year, Finance Minister Nirmala Sitharaman revised the fiscal gap to 5.8% of gross domestic product from 5.8% earlier. India's fiscal deficit for the first nine months of this fiscal year through December stood at Rs 9.82 lakh crore or 55% of annual estimates.
FM proposes to retain the same tax rates for direct and indirect taxes, including export duties
