Nirmala Sitharaman's maiden budget has not brought in any changes in income tax limits; but there are crucial changes. Surcharge on the super-rich rises while commodities like Gold & fuel get dearer. Palki summarises.

Gravitas: Budget 2019: The taxation picture

All you need to know about Union Budget 2019. It was not a populist budget, but Nirmala Sitharaman covered a host of areas in her maiden budget. Palki sums up the key areas of focus in Budget 2019.

Gravitas: Budget 2019: Key areas of focus

From harnessing India's space prowess to setting up social stock exchange to incentivising the transition to electric vehicles to making availability credit easier for MSMEs, here's Palki summing up some of the unique elements in Nirmala Sitharaman's maiden budget.

Gravitas: What's unique about Budget 2019

<a href="https://www.wionews.com/sports/sports-minister-kiren-rijiju-extremely-optimistic-of-india-lifting-world-cup-233837">India's government</a> aims to rise to 150 billion rupees ($2.18 billion) by reducing its stake in 18 state firms to 75%, a finance ministry official involved in the matter said on Monday, as it looks to boost revenues and rein in the fiscal deficit.

<a href="https://www.wionews.com/business-economy/sensex-nifty-open-in-red-why-stock-markets-did-not-like-the-budget-233896">Finance Minister Nirmala Sitharaman</a> set an ambitious target of 1.05 trillion rupees ($15.33 billion) from the sale of stakes in state-run companies, compared with 850 billion rupees the previous year, in her budget on Friday for the fiscal year that began on April 1.

While a third of the divestment target will be met by the outright sale of state enterprises, including Air India, the other sales will be done through a rule under which all listed entities must have a public float of at least 25% after three years of listing.

But governments have been putting this off for state firms, winning extensions from the Securities Exchange Board of India (SEBI) each year.

"The government will aim to meet the SEBI norms in state-owned companies this fiscal," said the ministry official, who declined to be identified as he is not allowed to speak to the media, referring to the Securities and Exchange Board of India.

The government is planning to sell 10% each in state-owned reinsurers General Insurance Corporation of India (GIC) and New India Assurance (NIA) which will bring it's holding down to 75 percent in the two giant companies.

In her budget, Sitharaman proposed increasing the minimum public shareholding for listed entities to 35% from 25% as part of efforts to make the market more accessible to retail investors.

But the finance ministry official said the new regulation would require at least two years to go into force after approval by the SEBI.

Asia's third-largest economy is banking on state enterprise sales, dividends from the central bank and additional levies and taxes to meet a fiscal deficit target of 3.3% of gross domestic product from 3.4% previously announced.

The official said the government was willing to sell 100% of debt-ridden Air India after a previous offer of 76% control produced no buyers.

"Air India is our biggest bet," the official said. The government expects to get 150 billion rupees from selling the airline.

The government also plans to sell at least a 5% stake in Coal India and ONGC, the official said.

India's government aims to rise to 150 billion rupees ($2.18 billion) by reducing its stake in 18 state firms to 75%, a finance ministry official involved in the matter said on Monday, as it looks to boost revenues and rein in the fiscal deficit.

India's government aims to rise to 150 billion rupees ($2.18 billion) by reducing its stake in 18 state firms to 75%, a finance ministry official involved in the matter said on Monday, as it looks to boost revenues and rein in the fiscal deficit. Finance Minister Nirmala Sitharaman set an ambitious target of 1.05 trillion rupees ($15.33 billion) from the sale of stakes in state-run companies, compared with 850 billion rupees the previous year, in her budget on Friday for the fiscal year that began on April 1. While a third of the divestment target will be met by the outright sale of state enterprises, including Air India, the other sales will be done through a rule under which all listed entities must have a public float of at least 25% after three years of listing. But governments have been putting this off for state firms, winning extensions from the Securities Exchange Board of India (SEBI) each year. "The government will aim to meet the SEBI norms in state-owned companies this fiscal," said the ministry official, who declined to be identified as he is not allowed to speak to the media, referring to the Securities and Exchange Board of India. The government is planning to sell 10% each in state-owned reinsurers General Insurance Corporation of India (GIC) and New India Assurance (NIA) which will bring it's holding down to 75 percent in the two giant companies. In her budget, Sitharaman proposed increasing the minimum public shareholding for listed entities to 35% from 25% as part of efforts to make the market more accessible to retail investors. But the finance ministry official said the new regulation would require at least two years to go into force after approval by the SEBI. Asia's third-largest economy is banking on state enterprise sales, dividends from the central bank and additional levies and taxes to meet a fiscal deficit target of 3.3% of gross domestic product from 3.4% previously announced. The official said the government was willing to sell 100% of debt-ridden Air India after a previous offer of 76% control produced no buyers. "Air India is our biggest bet," the official said. The government expects to get 150 billion rupees from selling the airline. The government also plans to sell at least a 5% stake in Coal India and ONGC, the official said.

India aims to raise $2.18 billion by cutting stakes in 18 firms to 75%

In Budget 2019, Re 2/litre increased on petrol and diesel each, custom duty on gold hiked #Budget2019 #UnionBudget2019 #IndiaBudget2019 #Budget

Budget 2019: Re2/litre increased on petrol and diesel each, custom duty on gold hiked

Union Minister of State for Defence Shripad Naik on Friday lauded the government for presenting a "developmental" Union budget and said that the country has taken a step towards becoming a financial superpower.

"Our financial capabilities have increased under the leadership of Prime Minister Narendra Modi in the last five years. I believe that our country has taken a step forward in the direction of becoming a financial superpower. The union budget gave priority to the development of the country," said Naik.

Naik hailed Finance Minister Nirmala Sitharaman for empowering women of the country through the budget.

"How to uplift the woman folk of the country and how to take them towards development was Nirmala Sitharaman`s priority in the budget. She announced Rs 1 lakh loan for women entrepreneurs under Mudra scheme," he said.&nbsp;

Union Minister of State for Defence Shripad Naik on Friday lauded the government for presenting a "developmental" Union budget and said that the country has taken a step towards becoming a financial superpower.

Union Minister of State for Defence Shripad Naik on Friday lauded the government for presenting a "developmental" Union budget and said that the country has taken a step towards becoming a financial superpower. "Our financial capabilities have increased under the leadership of Prime Minister Narendra Modi in the last five years. I believe that our country has taken a step forward in the direction of becoming a financial superpower. The union budget gave priority to the development of the country," said Naik. Naik hailed Finance Minister Nirmala Sitharaman for empowering women of the country through the budget. "How to uplift the woman folk of the country and how to take them towards development was Nirmala Sitharaman`s priority in the budget. She announced Rs 1 lakh loan for women entrepreneurs under Mudra scheme," he said.

India set to become 'financial superpower': Shripad Naik

Know how this Budget 2019-20 will affect your life. What Will Become Costlier & Cheaper Now. Watch this video to know more.

Budget 2019-20: What Will Become Costlier & Cheaper Now

A day after the Central government announced to revise tax on fuel prices, Rajasthan government on Friday announced to increase the tax on petrol and diesel by 4% each with effect from July 6.

"In exercise of the powers conferred by sub-section (5) of section 4 of the Rajasthan Value Added Tax Act, 2003 (Act No.4 of 2003), the state government being of the opinion that it is expedient in the public interest so to do, hereby makes the following amendments in Schedule-VI appended to the said Act, with effect from 06.07.2019," state government in an official statement said.

Meanwhile, Rajasthan Chief Minister Ashok Gehlot while addressing media persons here said, "The previous government has reduced the VAT by 4% in order to win the elections. The centre also hiked it several times and for their own benefit, they reduced it before elections. We have done nothing. By increasing 4% tax each on petrol and diesel, we are correcting the mistake committed by them."

Union Finance Minister Nirmala Sitharaman on Friday while presenting her maiden Budget in the Lok Sabha said that additional excise duty and road and infrastructure cess of one rupee will be imposed on petrol and diesel.

Sitharaman had said crude prices have softened from their highs, paving way for her to review excise duty and cess on petrol and diesel.

"I propose to increase special additional excise duty and road and infrastructure cess each by one rupee a litre on petrol and diesel," she had said.

However, the Finance Minister dismissed suggestions that levies on petrol and diesel will fuel inflation, saying it was aimed at meeting public funding needs without hurting individual taxpayers and was also a step to move away from fossil fuels to electric vehicles.&nbsp;

A day after the Central government announced to revise tax on fuel prices, Rajasthan government on Friday announced to increase the tax on petrol and diesel by 4% each with effect from July 6.

A day after the Central government announced to revise tax on fuel prices, Rajasthan government on Friday announced to increase the tax on petrol and diesel by 4% each with effect from July 6. "In exercise of the powers conferred by sub-section (5) of section 4 of the Rajasthan Value Added Tax Act, 2003 (Act No.4 of 2003), the state government being of the opinion that it is expedient in the public interest so to do, hereby makes the following amendments in Schedule-VI appended to the said Act, with effect from 06.07.2019," state government in an official statement said. Meanwhile, Rajasthan Chief Minister Ashok Gehlot while addressing media persons here said, "The previous government has reduced the VAT by 4% in order to win the elections. The centre also hiked it several times and for their own benefit, they reduced it before elections. We have done nothing. By increasing 4% tax each on petrol and diesel, we are correcting the mistake committed by them." Union Finance Minister Nirmala Sitharaman on Friday while presenting her maiden Budget in the Lok Sabha said that additional excise duty and road and infrastructure cess of one rupee will be imposed on petrol and diesel. Sitharaman had said crude prices have softened from their highs, paving way for her to review excise duty and cess on petrol and diesel. "I propose to increase special additional excise duty and road and infrastructure cess each by one rupee a litre on petrol and diesel," she had said. However, the Finance Minister dismissed suggestions that levies on petrol and diesel will fuel inflation, saying it was aimed at meeting public funding needs without hurting individual taxpayers and was also a step to move away from fossil fuels to electric vehicles.

Rajasthan government hikes 4% VAT on fuel, CM Ashok Gehlot says 'correcting BJP's mistake'

Nirmala Sitharaman first full-time female finance minister on WION, Decodes govt plans for 'Make In India'. Watch this video for complete details.

FM Nirmala Sitharaman on WION, Decodes govt plans for 'Make In India'

India will closely monitor its shadow lending sector, Finance Minister Nirmala Sitharaman said on Saturday, a day after announcing the RBI would get much more regulatory authority over non-banking financial companies (NBFCs), reported news agency Reuters.

Prime Minister Narendra Modi's government, in the budget for the fiscal year ending March 31, 2020, on Friday announced credit guarantees to support NBFCs in a move aimed at boosting lending and reviving a sagging economy.

The government has tried to address issues such as liquidity and solvency at NBFCs, finance minister told a news conference, adding that New Delhi plans to give the central bank powers to regulate the sector as well as to resolve problems plaguing it.

India has over 10,000 registered NBFCs lending to millions of households who may not have the creditworthiness to borrow directly from a commercial bank.

NBFCs borrow much of their money from banks, mutual funds and via debt sales but after defaults by Infrastructure Leasing &amp; Financial Services (IL&amp;FS) last year borrowing costs have surged and the sector has come under greater scrutiny.

India will closely monitor its shadow lending sector, Finance Minister Nirmala Sitharaman said on Saturday, a day after announcing the RBI would get much more regulatory authority over non-banking financial companies (NBFCs), reported news agency Reuters.

India will closely monitor its shadow lending sector, Finance Minister Nirmala Sitharaman said on Saturday, a day after announcing the RBI would get much more regulatory authority over non-banking financial companies (NBFCs), reported news agency Reuters. Prime Minister Narendra Modi's government, in the budget for the fiscal year ending March 31, 2020, on Friday announced credit guarantees to support NBFCs in a move aimed at boosting lending and reviving a sagging economy. The government has tried to address issues such as liquidity and solvency at NBFCs, finance minister told a news conference, adding that New Delhi plans to give the central bank powers to regulate the sector as well as to resolve problems plaguing it. India has over 10,000 registered NBFCs lending to millions of households who may not have the creditworthiness to borrow directly from a commercial bank. NBFCs borrow much of their money from banks, mutual funds and via debt sales but after defaults by Infrastructure Leasing & Financial Services (IL&FS) last year borrowing costs have surged and the sector has come under greater scrutiny.

India to closely monitor shadow lending sector, says Sitharaman

With upscaling infrastructure investments to Rs 100 lakh crore over the next five years and measures to rejuvenate the rural and urban economy, the <a href="https://www.wionews.com/business-economy/budget-2019-here-is-what-favours-you-and-what-does-not-233308">Union Budget for 2019-20</a> sets a clear action plan for making India a five trillion dollar economy by 2025, according to leading industry chambers.

"Directionally the budget is good and it takes forward the plan that was laid out by the government during the interim Budget. There are several positives in the budget, and it provides a set of benefits for most segments of the society," said FICCI President Sandip Somany.

"We see a clear action plan for realising the vision of making India a five trillion dollar economy over the next few years with a focus on ease of living," he said appreciating the Budget's focus on infrastructure development. "We are also encouraged by the focus on promoting public-private partnership for modernisation and upgradation of the nation's railway infrastructure."

So many said the announcement to further provide Rs 70,000 crore for capital infusion into public sector banks along with measures to strengthen the governance processes within the banks should help in improving the credit flow to the industry.

CII President Vikram Kirloskar said the adherence to fiscal consolidation path while providing the necessary boost to consumption, investment and special emphasis on agriculture and rural sector steps in the right&nbsp;direction to take the economy to five trillion dollar mark.

"The measures are expected to debottleneck the economy and create a healthy eco-system for the revival of business sentiment. The Budget did well to bring all companies having turnover upto Rs 400 crore under the 25 per cent corporate tax rate ambit from the erstwhile limit of Rs 250 crore. This is a good beginning and as it is expected to provide a fillip to the corporate sector earnings which could be ploughed back in investments," he said.

Kirloskar said measures, like strengthening of logistics infrastructure and stepping up efforts in rural housing, are likely to provide a significant impetus to investment spending and consumption in the economy. Apart from boosting growth in the near to medium term, they will also help generate jobs in the economy.

Budget 2019-20: What Will Become Costlier &amp; Cheaper Now

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/budget-2019-20-what-will-become-costlier-cheaper-now-233474/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

ASSOCHAM President B K Goenka said <a href="https://www.wionews.com/india-news/nirmala-sitharaman-delivers-longest-ever-budget-speech-of-2-hours-17-mins-233293">Finance Minister Nirmala Sitharaman</a>'s maiden budget is a mega investment-oriented initiative with a strong focus on scaling up rural infrastructure and demand along with slew of tax simplification measures.

"The disinvestment target of Rs 1.05 lakh crore along with the commitment to disinvest Air India will be good efforts to enhance the fiscal stability with fiscal deficit being pegged lower at 3.7 per cent of GDP," he said adding that initiatives like e-assessment, inter-changeability of PAN and Aadhaar, digital payment will make a big difference to taxpayers.

The next phases of affordable housing, national highway projects should also be growth drivers, said Goenka. "The focus on Make in India is visible as also emphasis on sustainable development by measures like electric vehicles and renewable energy. Boost to high-technology manufacturing like semi-conductor and commercialisation of space technologies are innovative measures."

With upscaling infrastructure investments to Rs 100 lakh crore over the next five years and measures to rejuvenate the rural and urban economy, the Union Budget for 2019-20 sets a clear action plan for making India a five trillion dollar economy by 2025, according to leading industry chambers.

With upscaling infrastructure investments to Rs 100 lakh crore over the next five years and measures to rejuvenate the rural and urban economy, the Union Budget for 2019-20 sets a clear action plan for making India a five trillion dollar economy by 2025, according to leading industry chambers. "Directionally the budget is good and it takes forward the plan that was laid out by the government during the interim Budget. There are several positives in the budget, and it provides a set of benefits for most segments of the society," said FICCI President Sandip Somany. "We see a clear action plan for realising the vision of making India a five trillion dollar economy over the next few years with a focus on ease of living," he said appreciating the Budget's focus on infrastructure development. "We are also encouraged by the focus on promoting public-private partnership for modernisation and upgradation of the nation's railway infrastructure." So many said the announcement to further provide Rs 70,000 crore for capital infusion into public sector banks along with measures to strengthen the governance processes within the banks should help in improving the credit flow to the industry. CII President Vikram Kirloskar said the adherence to fiscal consolidation path while providing the necessary boost to consumption, investment and special emphasis on agriculture and rural sector steps in the right direction to take the economy to five trillion dollar mark. "The measures are expected to debottleneck the economy and create a healthy eco-system for the revival of business sentiment. The Budget did well to bring all companies having turnover upto Rs 400 crore under the 25 per cent corporate tax rate ambit from the erstwhile limit of Rs 250 crore. This is a good beginning and as it is expected to provide a fillip to the corporate sector earnings which could be ploughed back in investments," he said. Kirloskar said measures, like strengthening of logistics infrastructure and stepping up efforts in rural housing, are likely to provide a significant impetus to investment spending and consumption in the economy. Apart from boosting growth in the near to medium term, they will also help generate jobs in the economy. Budget 2019-20: What Will Become Costlier & Cheaper Now ASSOCHAM President B K Goenka said Finance Minister Nirmala Sitharaman's maiden budget is a mega investment-oriented initiative with a strong focus on scaling up rural infrastructure and demand along with slew of tax simplification measures. "The disinvestment target of Rs 1.05 lakh crore along with the commitment to disinvest Air India will be good efforts to enhance the fiscal stability with fiscal deficit being pegged lower at 3.7 per cent of GDP," he said adding that initiatives like e-assessment, inter-changeability of PAN and Aadhaar, digital payment will make a big difference to taxpayers. The next phases of affordable housing, national highway projects should also be growth drivers, said Goenka. "The focus on Make in India is visible as also emphasis on sustainable development by measures like electric vehicles and renewable energy. Boost to high-technology manufacturing like semi-conductor and commercialisation of space technologies are innovative measures."

Budget sets clear action plan for making India $5 trillion economy: FICCI, CII

Union Finance Minister Nirmala Sitharaman has rightly given top priority to infrastructure in the <a href="https://www.wionews.com/business-economy/fuel-prices-go-up-in-delhi-petrol-up-by-rs-245-at-rs-7296-233462">Union Budget for 2019-20</a> which will generate employment, attract investment and enable India to be the fastest growing major economy in the world, her predecessor Arun Jaitley said on Saturday.

"The Finance Minister has rightly given top priority to infrastructure. This priority is self-evident in the fact that the rural roads programme connecting every village with a motorable road is nearing completion. National highways are moving at a pace faster than ever before. Adequate amount of allocations have been made in the Budget for this," Jaitley said in his blog.

While presenting the <a href="https://www.wionews.com/business-economy/budget-2019-it-gives-wings-to-farmers-youngsters-women-home-minister-amit-shah-233399">Union Budget</a> in the Lok Sabha on Friday, Sitharaman said that the government will spend Rs 100 lakh crore on infrastructure upgradation over the next five years.

Jaitley said massive infrastructure creation also has the ability to generate employment and attract investment. So does a boost to the construction and real estate sector.

"India will continue to be the fastest growing major economy in the world. In the last two to three-quarters, growth has seen a moderation," he added.

Jaitley said the railways is one of the top priorities of the government. Besides faster trains, modernised coaches, additional railway safety measures, very soon India will witness the modernisation of its railway stations similar to what today has happened to the airports.

"Increase in port capacity, further development of inland water transportation and expanding the aviation sector to the remotest corner of the country is the roadmap which the Finance Minister has presented. This will be the India of 2024," he said.

Saying that modernisation of cities with all-weather roads, an effective metro system, better urban roads are being given an impetus, Jaitley said, "A major tax incentive has been given to those who borrow to buy affordable houses. This move will not merely help the system to utilise the unsold stock of affordable houses but will also be instrumental in injecting liquidity into the real estate market."

The direction of reforms in the banking and financial sector has been maintained. Consolidation of public sector banks is being undertaken so as to have fewer but mega and financially strong banks.

A sizeable allocation has been made for recapitalisation of banks so that their capacity to lend for growth improves.

"The Budget contains concrete proposals about support to the NBFCs whose liquidity, for the last several months, was under strain and had reduced the purchasing power of the consumer. The sectors most affected by this were real estate, automobiles, and the MSMEs," said Jaitley.

While the GST reforms are being carried out, a lot of simplification for direct tax assesses has been proposed.

Jaitley said besides affordable housing, electric vehicles and start-ups are the sectors on which the Budget places an adequate emphasis.In the last two years, he said, when the global crude oil prices hardened, duties had been cut by the Central government on at least two occasions in a major way.

"It is the softening of crude oil prices which persuaded the government to raise excise duty on petrol and diesel marginally so that this money could be transferred to a special fund meant for infrastructure creation, particularly for the national highways and the rural roads programme," Jaitley said.

 
&nbsp;

Union Finance Minister Nirmala Sitharaman has rightly given top priority to infrastructure in the Union Budget for 2019-20 which will generate employment, attract investment and enable India to be the fastest growing major economy in the world, her predecessor Arun Jaitley said on Saturday.

Union Finance Minister Nirmala Sitharaman has rightly given top priority to infrastructure in the Union Budget for 2019-20 which will generate employment, attract investment and enable India to be the fastest growing major economy in the world, her predecessor Arun Jaitley said on Saturday. "The Finance Minister has rightly given top priority to infrastructure. This priority is self-evident in the fact that the rural roads programme connecting every village with a motorable road is nearing completion. National highways are moving at a pace faster than ever before. Adequate amount of allocations have been made in the Budget for this," Jaitley said in his blog. While presenting the Union Budget in the Lok Sabha on Friday, Sitharaman said that the government will spend Rs 100 lakh crore on infrastructure upgradation over the next five years. Jaitley said massive infrastructure creation also has the ability to generate employment and attract investment. So does a boost to the construction and real estate sector. "India will continue to be the fastest growing major economy in the world. In the last two to three-quarters, growth has seen a moderation," he added. Jaitley said the railways is one of the top priorities of the government. Besides faster trains, modernised coaches, additional railway safety measures, very soon India will witness the modernisation of its railway stations similar to what today has happened to the airports. "Increase in port capacity, further development of inland water transportation and expanding the aviation sector to the remotest corner of the country is the roadmap which the Finance Minister has presented. This will be the India of 2024," he said. Saying that modernisation of cities with all-weather roads, an effective metro system, better urban roads are being given an impetus, Jaitley said, "A major tax incentive has been given to those who borrow to buy affordable houses. This move will not merely help the system to utilise the unsold stock of affordable houses but will also be instrumental in injecting liquidity into the real estate market." The direction of reforms in the banking and financial sector has been maintained. Consolidation of public sector banks is being undertaken so as to have fewer but mega and financially strong banks. A sizeable allocation has been made for recapitalisation of banks so that their capacity to lend for growth improves. "The Budget contains concrete proposals about support to the NBFCs whose liquidity, for the last several months, was under strain and had reduced the purchasing power of the consumer. The sectors most affected by this were real estate, automobiles, and the MSMEs," said Jaitley. While the GST reforms are being carried out, a lot of simplification for direct tax assesses has been proposed. Jaitley said besides affordable housing, electric vehicles and start-ups are the sectors on which the Budget places an adequate emphasis.In the last two years, he said, when the global crude oil prices hardened, duties had been cut by the Central government on at least two occasions in a major way. "It is the softening of crude oil prices which persuaded the government to raise excise duty on petrol and diesel marginally so that this money could be transferred to a special fund meant for infrastructure creation, particularly for the national highways and the rural roads programme," Jaitley said.

Budget rightly gives top priority to infrastructure: Arun Jaitley

This segment of WION brings to you latest updates on Indian Union Budget 2019-20 presented by Finance Minister Nirmala Sitharaman. Watch this video for more information.

Budget 2019: Will it be Populist or Pragmatic?

Watch this special episode of India Watch, on the newly presented Union Budget for FY 2018-19 by the Indian Finance minister Nirmala Sitharaman.

India Watch, 5th July, 2019

Watch this segment of India Watch, which decodes newly presented Budget for FY 2018-19 by the Indian Finance minister Nirmala Sitharaman.

India Watch: Decoding the Budget 2019

Nirmala Sitharaman presented her maiden Union Budget 2019-20 at 11 AM in Lok Sabha today. Indian Budget this time tapped into various sectors.

India Watch: Innovative plans in Budget 2019

Watch this special episode of India Watch to know the taxation picture of the newly presented Union Budget 2019.

India Watch | Budget 2019: The taxation picture

India's finance minister Nirmala Sitharaman arrived in Parliament today accompanied by&nbsp;MoS finance Anurag Thakur to <a href="https://www.wionews.com/business-economy/ahead-of-budget-sensex-crosses-40k-mark-233149">present the Union Budget</a> as the Budget papers reached the Lok Sabha amid heavy security.

Sitharaman carried her Budget documents i<a href="https://www.wionews.com/business-economy/in-a-first-finance-minister-nirmala-sitharaman-to-carry-budget-documents-four-fold-red-cloth-233152">n a four-fold red cloth as India</a> awaited the Budget presentation by the new finance minister.

Parents of the finance Minister - Savitri and Narayanan Sitharaman - also arrived in Parliament to witness the Budget proceedings.

Finance Minister Nirmala Sitharaman will present the Budget in Lok Sabha at 11am today.

As per convention, Sitharaman earlier in on Friday morning met President Kovind to before presenting the Budget.

This will be Nirmala Sitharaman's first Budget presentation as the new finance minister under the Modi government which won a second term after a mammoth victory in the general election on May 23rd.

India's finance minister Nirmala Sitharaman arrived in Parliament today accompanied by MoS finance Anurag Thakur to present the Union Budget as the Budget papers reached the Lok Sabha amid heavy security.

India's finance minister Nirmala Sitharaman arrived in Parliament today accompanied by MoS finance Anurag Thakur to present the Union Budget as the Budget papers reached the Lok Sabha amid heavy security. Sitharaman carried her Budget documents in a four-fold red cloth as India awaited the Budget presentation by the new finance minister. Parents of the finance Minister - Savitri and Narayanan Sitharaman - also arrived in Parliament to witness the Budget proceedings. Finance Minister Nirmala Sitharaman will present the Budget in Lok Sabha at 11am today. As per convention, Sitharaman earlier in on Friday morning met President Kovind to before presenting the Budget. This will be Nirmala Sitharaman's first Budget presentation as the new finance minister under the Modi government which won a second term after a mammoth victory in the general election on May 23rd.

Finance minister Nirmala Sitharaman arrives in Parliament to present Budget

The Economic Survey 2018-19 was presented in the Parliament, as is the practice, a day before the Union Budget.&nbsp;

The survey points out that amid weak global growth during the last five years, India took a few giant strides forward becoming the sixth largest economy as well as the fastest growing major economy in the world.&nbsp;

The average inflation was less than half the level of the preceding five years, lowest in post-independence history.&nbsp;

According to the survey, the Indian economy is projected to grow at 7 per cent&nbsp;in 2019-20, up 0.2 per cent&nbsp;from 2018-19, on the back of political stability, which is likely to push up economic activity in the country (activate the animal spirits).&nbsp;

To achieve the Prime Minister’s dream of India becoming a $5 trillion economy by 2025, India needs to attain and sustain a real GDP growth of 8% per annum. “This can be achieved by a ‘virtuous cycle’ of savings, investment and exports catalysed and supported by a favourable demographic phase,” says the survey.

Low oil prices compared to 2018-19 is expected to push the consumption, while low real interest rates are expected to provide a boost to investment; the two key levers of the Indian economy.&nbsp;

Investment is the ‘key driver’ of the Indian economy, accounting for 32 per cent&nbsp;of the GDP. The survey points out that the investment rate, which was declining from 2011-12, seems to have bottomed out. Fixed investment growth has increased from 8.3 per cent&nbsp;in 2016-17 to 9.3 per cent&nbsp;in 2017-18 and 10.0 per cent&nbsp;in 2018-19.&nbsp;

Investment is expected to pick up further on the back of higher credit growth, facilitated by lower interest rates and improved demand facilitated by a strong mandate, clearing all theories of political uncertainty.

Higher investments are likely to foster job creation; unemployment being a major issue facing the economy at a 45-year-high.&nbsp;

As per a CRISIL report, system-wide NPAs have declined to 9.3 per cent&nbsp;as of March 2019 after tripling to 11.5 per cent&nbsp;in the four fiscals till March 2018.&nbsp;

The continuing resolution of stressed assets in the banking sector highlighting the success story of the Insolvency and Bankruptcy Code is expected to give a fillip to the capex cycle, as per the Economic Survey.

India, unlike China, is a consumption-led rather than export dependent economy. India witnessed a deceleration in private final consumption in Q3 and Q4 of 2018-19, thus resulting in a slowdown in GDP growth.

The survey points out that this could have been due to low farm incomes in rural areas arising from low food prices and also due to the stress in non-banking financial companies (NBFCs), which affected its lending.

Private final consumption expenditure accounts for 60 per cent&nbsp;of India’s GDP with its growth rate mostly being higher than the overall GDP growth rate.&nbsp;

Consumption is likely to pick up with an increase in rural wages, higher food prices (higher MSPs) and income support scheme of Rs 6,000 per year to farmers. All these measures are likely to boost rural demand.&nbsp;

However, a weak monsoon and spill over impact of stress in the NBFC sector, present downside risks to consumption, says the survey.

June 2019, the first month of the monsoon season, recorded a 33% deficient rainfall — the worst in the last five years. Although IMD expects a near normal rainfall, region wise imbalances are expected to arise impacting crop production and agriculture growth.&nbsp;

The liquidity crunch faced by the NBFC sector due to IL&amp;FS default, loss of investor confidence and recent default by DHFL, shows that the sector is under stress.&nbsp;

Non-performing loans are rising, currently at 6.1%, while the credit disbursements fell by 31 per cent&nbsp;in Q4 2018-19. All this is likely to lead to lower credit offtake from NBFCs, which may dampen growth in consumption spending, the survey stresses. &nbsp;

As per the Economic Survey, the growth rate of the world output is projected to fall further to 3.3 per cent&nbsp;in 2019 (-0.3 per cent). The US and China trade war, the outcome of Brexit and downside risk to China’s growth, all point towards weak global cues. In this light, export growth could remain weak, which in turn could impact India’s GDP growth. &nbsp;The survey lays out a strategic blueprint for fructifying #Economy@5trillion. Now over to the Budget today!

(This article was originally published on The DNA. Read the <a href="https://www.dnaindia.com/analysis/column-don-t-underestimate-global-economic-impact-on-india-s-gdp-2768191">original article)</a>

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)&nbsp;

The Economic Survey 2018-19 was presented in the Parliament, as is the practice, a day before the Union Budget. The survey points out that amid weak global growth during the last five years, India took a few giant strides forward becoming the sixth largest economy as well as the fastest growing major economy in the world.

The Economic Survey 2018-19 was presented in the Parliament, as is the practice, a day before the Union Budget. The survey points out that amid weak global growth during the last five years, India took a few giant strides forward becoming the sixth largest economy as well as the fastest growing major economy in the world. The average inflation was less than half the level of the preceding five years, lowest in post-independence history. According to the survey, the Indian economy is projected to grow at 7 per cent in 2019-20, up 0.2 per cent from 2018-19, on the back of political stability, which is likely to push up economic activity in the country (activate the animal spirits). To achieve the Prime Minister’s dream of India becoming a $5 trillion economy by 2025, India needs to attain and sustain a real GDP growth of 8% per annum. “This can be achieved by a ‘virtuous cycle’ of savings, investment and exports catalysed and supported by a favourable demographic phase,” says the survey. Low oil prices compared to 2018-19 is expected to push the consumption, while low real interest rates are expected to provide a boost to investment; the two key levers of the Indian economy. Investment is the ‘key driver’ of the Indian economy, accounting for 32 per cent of the GDP. The survey points out that the investment rate, which was declining from 2011-12, seems to have bottomed out. Fixed investment growth has increased from 8.3 per cent in 2016-17 to 9.3 per cent in 2017-18 and 10.0 per cent in 2018-19. Investment is expected to pick up further on the back of higher credit growth, facilitated by lower interest rates and improved demand facilitated by a strong mandate, clearing all theories of political uncertainty. Higher investments are likely to foster job creation; unemployment being a major issue facing the economy at a 45-year-high. As per a CRISIL report, system-wide NPAs have declined to 9.3 per cent as of March 2019 after tripling to 11.5 per cent in the four fiscals till March 2018. The continuing resolution of stressed assets in the banking sector highlighting the success story of the Insolvency and Bankruptcy Code is expected to give a fillip to the capex cycle, as per the Economic Survey. India, unlike China, is a consumption-led rather than export dependent economy. India witnessed a deceleration in private final consumption in Q3 and Q4 of 2018-19, thus resulting in a slowdown in GDP growth. The survey points out that this could have been due to low farm incomes in rural areas arising from low food prices and also due to the stress in non-banking financial companies (NBFCs), which affected its lending. Private final consumption expenditure accounts for 60 per cent of India’s GDP with its growth rate mostly being higher than the overall GDP growth rate. Consumption is likely to pick up with an increase in rural wages, higher food prices (higher MSPs) and income support scheme of Rs 6,000 per year to farmers. All these measures are likely to boost rural demand. However, a weak monsoon and spill over impact of stress in the NBFC sector, present downside risks to consumption, says the survey. June 2019, the first month of the monsoon season, recorded a 33% deficient rainfall — the worst in the last five years. Although IMD expects a near normal rainfall, region wise imbalances are expected to arise impacting crop production and agriculture growth. The liquidity crunch faced by the NBFC sector due to IL&FS default, loss of investor confidence and recent default by DHFL, shows that the sector is under stress. Non-performing loans are rising, currently at 6.1%, while the credit disbursements fell by 31 per cent in Q4 2018-19. All this is likely to lead to lower credit offtake from NBFCs, which may dampen growth in consumption spending, the survey stresses. As per the Economic Survey, the growth rate of the world output is projected to fall further to 3.3 per cent in 2019 (-0.3 per cent). The US and China trade war, the outcome of Brexit and downside risk to China’s growth, all point towards weak global cues. In this light, export growth could remain weak, which in turn could impact India’s GDP growth. The survey lays out a strategic blueprint for fructifying #Economy@5trillion. Now over to the Budget today! (This article was originally published on The DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

Don’t underestimate global economic impact on India’s GDP

GDP growth lowest in last five years, but higher than 2014. Exports crossed over $300 Bn in 2014. Rupee's value against the Dollar has dropped. In this video look at the difference between Indian economy of 2014 & 2019. Watch this video to know more.

Indian Economy: 2014 vs 2019, Then And Now

This segment of WION brings to you latest updates on Indian Union Budget 2019-20 going to be presented by Finance Minister Nirmala Sitharaman. Watch this video for more information. #Budget2019 #UnionBudget2019 #IndiaBudget2019 #Budget

What will be the focus of Budget 2019?

Ahead of the Union Budget presentation, the <a href="https://www.wionews.com/business-economy/india-needs-to-sustain-8-gdp-growth-to-become-5-trillion-economy-in-2025-economic-survey-232945">Sensex on Friday morning </a>hit the 40k mark trading 119 points up at 40,027.

The Sensex had closed higher on Thursday settling 0.17 per cent up at 39,908.06 with the Nifty closing 0.25 per cent higher at 11,946.75.

The markets held their ground after finance minister <a href="https://www.wionews.com/business-economy/union-budget-2019-sitharaman-expected-to-announce-slew-of-measures-to-boost-economy-pronounce-relief-to-tax-payers-233129">Nirmala Sitharaman presented</a> the government's Economic Survey in Parliament ahead of the Union Budget.

The survey pegged India's growth to seven per cent Gross Domestic Product (GDP) growth in FY20 on stable macro-economic conditions with fiscal deficit at 5.8 per cent in FY19 against 6.4 per cent in FY18.

In February, while presenting the annual budget for 2019-20, the government had revised upward its fiscal deficit target to 3.4 per cent of gross domestic product (GDP) for 208-19 from the previously estimated 3.3 per cent budgeted target. &nbsp; 
&nbsp;

Ahead of the Union Budget presentation, the Sensex on Friday morning hit the 40k mark trading 119 points up at 40,027. The Sensex had closed higher on Thursday settling 0.

Ahead of the Union Budget presentation, the Sensex on Friday morning hit the 40k mark trading 119 points up at 40,027. The Sensex had closed higher on Thursday settling 0.17 per cent up at 39,908.06 with the Nifty closing 0.25 per cent higher at 11,946.75. The markets held their ground after finance minister Nirmala Sitharaman presented the government's Economic Survey in Parliament ahead of the Union Budget. The survey pegged India's growth to seven per cent Gross Domestic Product (GDP) growth in FY20 on stable macro-economic conditions with fiscal deficit at 5.8 per cent in FY19 against 6.4 per cent in FY18. In February, while presenting the annual budget for 2019-20, the government had revised upward its fiscal deficit target to 3.4 per cent of gross domestic product (GDP) for 208-19 from the previously estimated 3.3 per cent budgeted target.

Ahead of Budget, Sensex crosses 40k mark

In this segment watch the breakdown, from where the Indian Government's money comes from and where it goes.

Budget 2019: 10 points vision for the decade

Nirmala Sitharaman presented her maiden Union Budget 2019-20 at 11 AM in Lok Sabha today. Indian Budget this time tapped into various sectors which reflects Indian Prime Minister Modi's vision. Watch this video to know more.

Budget 2019: Budget reflects Modi's vision

In this segment of WION, Know brief details about What is a Union Budget. Watch this video to know more in detail. #Budget2019 #UnionBudget2019 #IndiaBudget2019 #Budget

A Brief about, What is Union Budget?

<a href="https://www.wionews.com/world/uks-decision-excellent-supertanker-was-laden-with-iran-oil-bound-for-syria-us-233122">UK's decision excellent, supertanker was laden with Iran oil bound for Syria: US</a>

As Iran condemmed the detention of supertanker, White House National Security Advisor John Bolton applauded the interception by Britain's Gibraltar Thursday of a supertanker believed to be carrying Iranian crude oil to Syria, saying the ship was breaking international sanctions.

<a href="https://www.wionews.com/business-economy/union-budget-2019-sitharaman-expected-to-announce-slew-of-measures-to-boost-economy-pronounce-relief-to-tax-payers-233129">Budget 2019: Slew of measures to boost economy, relief to tax payers likely in Sitharaman's maiden budget today</a>

Union Finance Minister Nirmala Sitharaman will be unveiling Modi-government 2.0's first Union Budget on Friday. As the finance minister, this will be Sitharaman's maiden budget.&nbsp;

<a href="https://www.wionews.com/world/salute-to-america-trump-praises-us-military-in-july-4-speech-233094">Our nation is stronger today than it ever was before: Trump in Independence Day</a>

President Donald Trump sang the praises of the US military and American heroes of the past two and a half centuries Thursday as he skirted politics in a rousing Independence Day speech in Washington.

<a href="https://www.wionews.com/world/southern-california-rocked-by-powerful-64-magnitude-earthquake-in-two-decades-233096">6.4-magnitude earthquake hits southern California; no casualties</a>

Southern California was rocked by its largest earthquake in two decades on Thursday, but the 6.4-magnitude tremblor caused only "minor" injuries.

The shallow quake, which was followed by dozens of aftershocks, struck in a sparsely populated portion of the Mojave Desert, 10 kilometres from the city of Ridgecrest at 10:33 am.&nbsp;

<a href="https://www.wionews.com/south-asia/pakistan-registers-100000-new-tax-filers-amid-financial-crisis-233112">Pakistan registers 100,000 new tax filers amid financial crisis</a>

Pakistan's government, struggling to lift revenues and cut ballooning public debt, registered around 100,000 new tax filers and expects to have raised about $450 million from a tax amnesty on hidden assets, the finance chief said on Thursday.

UK's decision excellent, supertanker was laden with Iran oil bound for Syria: US As Iran condemmed the detention of supertanker, White House National Security Advisor John Bolton applauded the interception by Britain's Gibraltar Thursday of a supertanker believed to be carrying Iranian crude oil to Syria, saying the ship was breaking international sanctions.

UK's decision excellent, supertanker was laden with Iran oil bound for Syria: US As Iran condemmed the detention of supertanker, White House National Security Advisor John Bolton applauded the interception by Britain's Gibraltar Thursday of a supertanker believed to be carrying Iranian crude oil to Syria, saying the ship was breaking international sanctions. Budget 2019: Slew of measures to boost economy, relief to tax payers likely in Sitharaman's maiden budget today Union Finance Minister Nirmala Sitharaman will be unveiling Modi-government 2.0's first Union Budget on Friday. As the finance minister, this will be Sitharaman's maiden budget. Our nation is stronger today than it ever was before: Trump in Independence Day President Donald Trump sang the praises of the US military and American heroes of the past two and a half centuries Thursday as he skirted politics in a rousing Independence Day speech in Washington. 6.4-magnitude earthquake hits southern California; no casualties Southern California was rocked by its largest earthquake in two decades on Thursday, but the 6.4-magnitude tremblor caused only "minor" injuries. The shallow quake, which was followed by dozens of aftershocks, struck in a sparsely populated portion of the Mojave Desert, 10 kilometres from the city of Ridgecrest at 10:33 am. Pakistan registers 100,000 new tax filers amid financial crisis Pakistan's government, struggling to lift revenues and cut ballooning public debt, registered around 100,000 new tax filers and expects to have raised about $450 million from a tax amnesty on hidden assets, the finance chief said on Thursday.

News brief: Big stories of the day

In this segment, WION is in conversation with Rajiv Kumar over Indian Budget 2019. Rajiv Kumar is an Indian economist and is currently the vice-chairman of the NITI Aayog.

In conversation with Rajiv Kumar over Indian Budget 2019

Watch this video where Wion is in exclusive conversation with Mr. Lord Meghnad Desai over expectations from Budget'19. #Budget2019 #UnionBudget2019 #IndiaBudget2019 #Budget

In exclusive conversation with Mr. Lord Meghnad Desai over expectations from Budget'19

In this segment of WION, Have a look at some fun facts associated with the Union Budget of India.

Here are some fun facts associated with the Union Budget of India

PM Modi congratulates Finance Minister Nirmala Sitharaman on the Budget 2019. Prime Minister Narendra Modi hails Union Budget 2019, says this is the budget of hope and expectation. Watch this video to know more.

Budget 2019: PM Modi calls it the budget for New India

This segment of WION brings to you latest updates on Indian Union Budget 2019-20 going to be presented by Finance Minister Nirmala Sitharaman. Watch this video for more information. #Budget2019 #UnionBudget2019 #IndianBudget2019 #Budget

Budget 2019: Key Expectations From Indian Budget 2019-20