Budget 2019 LIVE Updates

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Nirmala
Nirmala

New Delhi: The Lok Sabha Speaker has invited Finance Minister Nirmala Sitharaman to present her maiden Union Budget. We have shown by our deeds that the principles ‘perform, reform, transform’ can indeed succeed. Have set the ball rolling for a ‘New India’, says Sitharaman.

In PPP terms we are the third largest economy already after China and US, she says pointing out that India has already become a $3 billion economy, she said.

The Finance Minister is talking about India’s key schemes and projects and how they have positively impacted people’s lives. She is also speaking about various reforms that the Narendra Modi-led government undertook between 2014 and 2019.

The ambitious project of Bharatmala will enhance road connectivity and Sagarmala will help port and waterways connectivity, she said. These along with other such initiatives such as Udaan scheme will improve India’s infrastructure and enable connectivity and bridge the rural and urban divide, she said.

The ambitious project of Bharatmala will enhance road connectivity and Sagarmala will help port and waterways connectivity, she says. These along with other such initiatives such as Udaan scheme will improve India’s infrastructure and enable connectivity and bridge the rural and urban divide, she said. Current rental laws are archaic as they do not assess the relation between the lessor and lessee in a fair manner. The government will look at improving the laws, she said.

Pension benefits will be offered to 3 crore shopowners with annual turnover of less than Rs 1.5 crore under new scheme called Pradhan Mantri Man dhan Scheme, she said.

Pension benefits will be offered to 3 crore shopowners with annual turnover of less than Rs 1.5 crore under new scheme called Pradhan Mantri Man dhan Scheme, she said.

There will be multiple measures undertaken to deepen the corporate bond market, she says adding there is also a proposal to increase minimum public shareholding in companies to 35% from 25%.

India’s FDI flows in 2018-19 remained strong compared to global at $54.2 billion, 6% higher than last year. The government will examine options of opening up FDI in media, animation and some other sectors to improve these flows further, she said.

 

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