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Sat, 28 February 2015
Live! Individual tax exemption hiked to Rs 4.44 lakh

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12:41  
Sensex slips back in red as the FM finishes his Budget speech.
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12:37   FM Arun Jaitley concludes Budget speech
Barring BSE Auto index down 0.2%, all sectoral indices on the BSE in green; BSE FMCG index top gainer up 2.4%
Rs 150 core to create world class IT hub in India: FM Jaitley
I have outlined what we are going to do immediately but also given a roadmap
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12:35   Transport allowance up from Rs 800 to Rs 1600: FM
Full exemption from CENVAT for various products and reduced SAD on import of raw materials.
Income Tax reduction from 25 per cent to 10 per cent on royalty for providing technical services: FM.
Additional deduction of Rs 50000 under section 80CCD, with aim of moving from pensionless to a pension society
Health insurance premium increased to help health insurance companies
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12:29   For senior citizens it is hiked to Rs 30,000
Swachh Bharat Abhiyan: 100% deduction allowed for all contributions except CSR
Propose some changes in excise duty on cigarretes
Leather footwear incentives to benefit companies like Bata and leather manufacturers
Service tax rate to rise to 14% from 12.36%
Cess on coal increased. Negative for metal and power companies
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12:28  
Excise duty rate effectively raised, petroleum products exempt from excise hike
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12:25  
Surcharge increased by 2% on income of Rs 1 crore and above: move to fetch govt Rs 9,000 cr against Rs 1,008 currently mobilised under wealth tax
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12:24   Customs duty on 22 items to be reduced
Will abolish rich tax, additional surchage of 2% on super-rich
GAAR defers by two years; Markets rally; Sensex up 301 points at 29,521; Nifty gains 77 points at 8,921
Propose to exempt special additional duty on all items
Income tax on royaty fees to be cut from 25% to 10%
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12:21   GAAR deferred by 2 years: FM
Propose to exempt SAD on all items
Income tax on royaty fees to be cut from 25% to 10%
Propose to reduce customs duty on 22 items
Basic custom duty to be reduced for 22 items
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12:19   PAN must for any sale or purchase above Rs 1 lakh
Rs 1,200 crore for fast track corridor between Ahmedabad and Mumbai: FM
Total expenditure estimated at crore Rs 17.70 lakh crore: FM
To allow tax pass through for alternate investment funds
FY16 expenses at Rs 13.13 lakh crore: FM
Domestic black money: A new benami transaction bill to be introduced
Tax pass through to be allowed in alternative investment funds to boost small firms, startups: FM
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12:15   Enforcement agencies can attach assets held abroad illegally
BSE Bankex up 1%; Bank of Baroda, Canara Bank, PNB, Axis Bank, ICICI Bank, Bank of India, SBI, IndusInd Bank, Yes Bank, Kotak Bank, HDFC Bank up 0.1-4%
Stringent measures against holders of black money, foreign assets
Undisclosed Income to be taxed at maximum marginal rate, deductions and exemptions for such income wont be allowed
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12:13   Black money: 10 years RI for concealing foreign assets
We will bring new law to bring back black money stashed abroad
Markets surge: Sensex up 186 points at 29,406; Nifty gains 49 points at 8,894
To launch measures to tackle black money: FM
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12:11   Corporate tax trimming will boost investments: FM
Exemptions for individual tax payers to continue
Removal of exemptions add to profits of corporate
Exemptions and incentives to individual tax payers to continue
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12:09  
Basic rate of corporate tax to be 25%
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12:07   Plan spend at Rs 4.65 lakh cr for FY16
Non-plan spend at Rs 13.12 lakh cr; Total expenditure 17,77,477 lakh crore
Non Plan expenditure 13 lakh cr, Plan expenditure estimated at Rs 4.65 lakh crore
Jewellery companies such as Gitanjali Gems, Shrenuj & Co, Tribhovandas Bhimji Zaveri gain
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12:03   Markets slip in red
Sensex down 8 points at 29,212; Nifty drops 7 points at 8,838
I propose special assistance to Bihar and WB as has been provided in the case of Andhra Pradesh
J&K, Andhra to get their own IIM
Speeding up of Digital India to benefit fibre optic companies like Sterlite Tech
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12:00   Regulatory reform law for infrastructure: FM
Rs 15,000 crore scheme to skill rural India: FM
National Skills Mission planned to power youth: FM
Skill India needs to be cooordinated with Make In India: FM
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11:59   IIMs to be set up in J&K and Andhra Pradesh
Indian Institute of Mines inn Dhanbad to be upgraded to IIT status; Karnataka to get IIT
I propose AIIMS in J&K, Punjab, TN, Himachal Pradesh and Assam; to augment AIIMS-like institute in Bihar
To set up AIIMS in J&K, Himachal, Assam, Tamil Nadu and Punjab
Will ensure no student loses out on higher education for lack of funds
Broader markets slip in red: BSE Midcap index down 0.1%, BSE Smallcap index dips 0.1%
Govt to prioritise completion of 1 lakh kilometers of additional roads, says FM Arun Jaitley
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11:57   Markets erase early gains
Sensex up 103 points at 29,323; Nifty gains 26 points at 8,871
Rupay Debit Cards to be incentivised. Move towards paperless transactions: FM
We will launch National Skills Mission, will consolidate skill initiatives across ministries
To introduce Regulatory Reform law for innfrasructure
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11:55   Visa on arrival for 150 countries from 43
To do away with distinction between FPIs and FDI
I propose to allow foreign investment in alternative investment funds; propose to do away distinction between FPI and FDI
To introduce India made gold coins to replace foreign coins
I propose to develop following heritage sites; Elephanta Caves; old churches in Goa; Varanasi temple town; Hampi in Karnataka etc
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11:48   Propose to develop sovereign gold bond
GST to bring greater transparency: FM
Direct Tax plan to get competitive edge: FM
CRISIL analysis: Government committed to keeping inflation below 6%, CRISIL expects CPI at 5.8% in FY16
Task force to be set up to establish grievance agency for financial redressals: FM
Gold Monetisation Scheme to benefit gold finance companies
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11:47   Ease of business with ebiz portal, this will get further push: FM
FMC to be merged with SEBI, MCX can see increased regulation
Will set up public debt management agency; Will merged FMC with Sebi to strengthen commodity market
Will establish National Infra Fund, to Allocate Rs 20,000 cr
Expert panel to prepare draft on easing permissions for doing business: FM
Ease of business with ebiz portal, this will get further push: FM
Infrastructure stocks rise after FM said in his budget speech that investment in the secctor will go up Rs 70,000 cr by FY 16
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11:43   Construction stocks surge by up to 13%
Rs 5,000 cr allocation to MNREGA
To set up 5 ultra-mega power projects of 4,000 MW each
New UMPP projects to benefit capital goods companies like BHEL, L&T, Alshtom
Second unit of Kudankulam nuclear plant will be commissioned in 2016
Public Sector Ports to be made firms under Companies Act: FM
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11:39   Tax-free infra bonds proposed for rail, road: FM
Atal Innovation Mission to foster culture of research among India's and global brains: FM
Capex for state PSUs to be Rs 3.17 lakh crore: FM
Outlay upped by 24,000 cr for rail, road: FM
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11:37   To work towards 6 crore housing units by 2020
National Investment & Infra fun to be set up with govt funding for Rs 20,000 cr
Investment in infra will go up by Rs 70,000 cr in FY15-16 from govt side
Markets remain steady: Sensex up 207 points at 29,427; Nifty gains 57 points at 8,901
Targets Rs 1.25 lakh cr public investment for FY16
Unclaimed deposits of Rs 3,000 cr in EPF to be used for benefit of senior citizens: Jaitley
Propose a Senior Citizen Welfare Fund, new scheme for providing assisted devices for those below poverty line
Atal Pension Yojana to provide defined pension according to contribution; 50% contribution to be from Govt
Unclaimed deposits of Rs 3,000 cr in EPF to be used for benefit of senior citizens
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11:33  
PM Surakhsha Bhima Yojana to increase the access to insurance; it will be linked with Jan Dhan Yojana
Will launch PM Suraksha Bhima Yojana, offering coverage of Rs 2 lakh for just premium of Rs 12
Propose Rs 1.25 lakh crore public investment for FY16
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11:32  
Direct Benefit Transfers via JAM trinity and GST will be major achievements
Large portion of India's population is without insurance. Encouraged by Jan Dhan Yojana, we will create universal social security system for poor and unprivileged.
We will bring comprehensive bankruptcy code in 2015-16 of global standards
To allocate Rs 25,000 cr for rural infra
I propose to create Mudra Bank with a corpus of Rs 20,000 cr, which will re-finance micro cos
To allocate Rs 20,000 cr for Mudra Bank for SMEs
BSE FMCG index up 0.2%; Emami, Colgate-Palmolive, HUL, Nestle India, ITC, Britannia up 0.1-1.5%
To allocate Rs 35,000 cr for MNREGA
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11:30  
Electrification of villages by 2020: FM
Aiming for a double digital growth rate is seeming feasible: FM Arun Jaitley
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11:28   To allocate Rs 25,000 cr for rural infrastructure
To allocate Rs 5300 cr for micro-irrigation
BSE FMCG index up 0.2%; Emami, Colgate-Palmolive, HUL, Nestle India, ITC, Britannia up 0.1-1.5%
To allocate Rs 35000 cr for MNREGA
Aim for farm credit of Rs 8.5 lakh crore in FY16
Need to curb subsidy leakages, not subsidy
Increased micro irrigation spend to benefit Jain Irrigation and EPC Industries
We will focus on improving MNREGA. Rs 34,699 crore allocated for this
Considering upscaling of PSU divestment programme
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11:23  
Direct transfer of benefits to be expanded
Direct transfer of benefits to be expanded further
BSE Auto index up 0.1%; M&M, Maruti Suzuki, Tata Motors, Bajaj Auto, Bharat Forge, Cummins India, Motherson Sumi up 0.1-2%
We need subsidies, but we need to end leakages, not the subsidies themselves
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11:21  
To achieve 3.9% fiscal deficit for FY16
Target: To achieve 3% fiscal deficit in three years
We will meet fiscal deficit target of 3% of GDP in three years compared to two years previously
BSE Capital Goods index up 2%; L&T, BHEL, Suzlon Energy, Va Tech Wabag, Alstom T&D, ABB India, BEL up 2-5%
To achieve fiscal deficit target of 4.1% in FY15
Govt remains firm in medium term fiscal deficit target of 3%
I will meet fiscal deficit target of 4.1% in FY15
Transfer to states to be 62% of total receipts
Challenges before govt: stressed agricultural incomes, increasing investment in infrastructure, manufacturing needs to be given fillip, fiscal discipline essential
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11:20  
FM: A roof for each family in India by 2022- 75th Year of India's Independence
FM: Incremental change is not going to take us anywhere we have to think in terms of quantum jumps
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11:18  
Completing 1 lakh km of road to be a top priority
To see 6 cr housing units in rural and urban areas by 2020
BSE Bankex up 1.4%; ICICI Bank, ABI, Axis Bank, HDFC Bank up 1-3%
Need to build 1 lakh kilometres of new roads
GST to be in force by April 1, 2016
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11:17  
Our objective is to keep inflation below 6 per cent & work towards substantial reduction of poverty
Rural urban divide to be removed: FM
Education, skilling our youth big focus: FM
80,000 secondary schools to get upgrade: FM
To sanction 1 lakh km of new roads: FM
FM: Two game changing reforms: GST and JAM Trinity (Jandhan, AADHAR, Mobile No.)
Budget 2015: Government has embraced states as equal partners of growth, says FM Arun Jaitley
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11:16  
In terms of communication, the rural and urban divide is not acceptable to us
Providing medical facilities in each village, providing skills to youth, education for all is our aim
Monetary Policy Committee to work towards maintaining inflation below 6%
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11:15  
FM: Our achievement is to conquer inflation; will be only five percent by end of year
The latest CPI inflation is 5.1 %: Arun Jaitley
We will build 6 crore toilets: FM
Move to amend RBI act and provide monetory policy committee: FM

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11:14  
GST date of April 2016...the first positive coming out of the budget speech
One of the aim has been to contain inflation. We expect CPI inflation to stay close to 5%. We have concluded a monetary policy framework with RBI.
We have now embarked on two more things: GST will put in place state-of-art tax system; JAM system will help us to plug leakages
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11:13  
a. Success of Jan dhan yojana. Over 12.5 crore families covered as part of financial inclusion initiative
b. Coal auction. States having coal reserves to get lakhs of crores of rupees
c. Swachh Bharat. 50 lakh toilets already completed, target is to have 6 crore toilets
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11:11  
FM: Jan Dhana Yojana makes our aim of financial inclusion visible
States have been empowered financially
FM: Economic environment far more positive
Objective is to improve quality of life and to pass benefits to common man: FM Arun Jaitley
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11:10  
Objective is to improve quality of life and to pass benefits to common man: FM Arun Jaitley
Broader Markets: BSE Midcap index up 0.7%; BSE Smallcap index up 0.8%
I would like to highlight three areas: Jan Dhan Yojana has been a success; transparent auction process for coal will help states; third is Swacch Bharat - 50 lakh toilets have already been build
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11:09  
Top Sensex losers: Hero Motocorp, Cipla, Bharti Airtel, Wipro, Coal India down 0.2-1%
FM: Current account deficit for FY15 is less than 1.3% of GDP
The people of India have voted for faster growth, a corruption-free govt. We have lived up to that trust.
Top Sensex gainers: Tata Steel, BHEL, HDFC, GAIL, L&T up 1.5-2.5%
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11:08  
It will make India the largest growing economy in the world
FM: World says its Indias chance to fly
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11:05  
I rise to present the Union Budget 2015. I present this Budget in an economic environment, which is far more positive than previous years: Jaitley
Indian states have been more empowered that ever before
Market update: Sensex up 242 points at 29,462; Nifty up 67 points at 8,911
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11:02  
We need to see massive investments going into infrastructure, R&D
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10:58  
Finance Minster must not forget poor states: Nitish Kumar
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10:56  
FM, MoS & officers briefed President Mukherjee on main features
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10:54  
Remain fully invested. We are in the middle of a good bull market: Shankar Sharma
We are in the middle of a good market and investors needn't worry about Budget impact: Ramesh Damani
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10:53  
Shankar Sharma, First Global
  • Govt may utilise savings on oil to fund infrastructure
  • Our yields are good, it's good time to be bullish on India
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10:45  
Nifty hovers above 8900 ahead of the Union Bugdet
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10:42  
Union Budget to be unveiled soon; Nifty holds above 8,900
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10:41  
Budget 2015 should address health, education and other aspects, it must look into the overall development of the nation: Dilip Pandey, AAP
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10:38  
Expect big announcements in the Budget related to infrastructure: Ranen Banerjee
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10:35  
Ramesh Damani: Last two days were pre-Budget rally, the real picture will spell out after FM's delivery
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10:35  
Prime Minister Narendra Modi reaches parliament
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10:22  
Defence stocks leads charge on hopes of big ticket announcements from Budget 2015Bharat Electronics (up 2.1 per cent), Bharat Forge (up 1.1 per cent), Astra Microwave Products (up 2.2 per cent), and BEML (up 1 per cent)
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10:20  
Housing finance companies in focus; HDFC, LIC Housing, Dewan Housing hit lifetime high
Budget will be a roadmap for development, will fulfill people's aspirations: Prakash Javadekar
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10:19  
Kiran Mazumdar Shaw: Corporate India wants game-changing reforms from this Budget
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10:17  
Sensex rallies over 200 points, Nifty reclaims 8900 ahead of Budget 2015-16
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10:14   5 factors to watch this Budget
FY16 fiscal deficit target
FY16 borrowing plan
FY 16 Divestment target
Sops for 'Make In India'
Tax cut
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10:10  
Cabinet meet on, Jaitley answers queries by ministries before Budget
Credit Suisse: Budget could pave way for rate cuts in April
Lupin: GDP growth at 8-9% will enable 16-17% growth in Pharma sector
Housing companies gain on hopes that government will take steps towards affordable housing. Ansal Housing is up 3.4%, Ashiana Housing is up 1.66%
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10:01  
Shares of infrastructure companies gained momentum in trade on hopes the government will work towards clearing stalled infrastructure projects
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10:00  
Capital goods, banks and power are the top sectoral gainers while auto and pharma stocks are marginally in the red
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09:56  
BSE Realty index was trading 2.2 per cent higher, led by gains in Mahindra Lifespace (up 4.3%), Unitech (up 3.4%), NBCC (up 3.2%), Oberoi Realty (3.1%) and HDIL (up 2.4%)
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09:54  
Sensex up over 250 points; BHEL top Sensex gainer, up 3%; Nifty reclaims 8900
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09:43  
Hope there is stress on equitable education and quality healthcare: APJ Abdul Kalam
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09:40  
Cabinet meeting at 10:15 AM, ahead of the Budget
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09:37  
Congress:
  • Make in India should find focus in the Budget
  • Govt should look at reducing subsidies
  • Ease of doing business is something that FM would need to look at
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09:26  
Renewable energy focus area, an eye on funding kind of structure like REIT or tax accelerated depreciation.
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09:25  
Power sector
Subsidy, tax exemption for stranded gas assets: Positive for GMR Infra , Lanco Infra , GVK Renewable sector
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09:25  
Titan/ jewellery cos Cut in gold import duty: Positive for Titan
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09:24  
ITC
Excise duty hike up 10 percent factored in Lowering or no increase in 64 mm cigarettes
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09:23  
Oil & gas
Custom duty hike of 2.5-5 percent expected: Positive for ONGC , OIL ; Negative for OMCs FY16 subsidy figure over Rs 35000 crore: Positive for ONGC, OIL
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09:22   15 stocks to keep an eye on: MoneyControl.com
Housing for all and relaxation on personal taxation slab
Real estate cos: HDIL , Unitech , Puravanakara , smaller real estate players

Tax claity on REITS REITs may be exempt from DDT/MAT and long-term capital gains exemption for sponsors
Stocks: DLF , Prestige , Adani Ports Banks Clarity on holding co structure for govt. banks, Re-capitalization of government banks
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08:43  
Credit Suisse sees FM boosting capex, raising I-T slab
Government plans to raise public health spend to 2.5% of GDP
Tata Steel hopes FM will take steps to arrest rising imports
Plan expenditure may increase by 15-18%
Nabard expects rural credit fund in Union Budget
Budget 2015 may back off fertiliser subsidy reform
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08:37  
India Inc wants to see steps to cut subsidy.
Hope we wont see any populism in Budget today: Arvind Sangar, Managing Partner, Geosphere Capital Management
Budget needs to be realistic: Sangar
Can't depend on low oil price to fix deficit: Sangar
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08:20   Will Make in India become reality?
Expectations: Eliminate lowest tax paying slab Increase competition limits: conveyance, education and medical
Increase Sec 80C deduction limits
Tax saving bonds
Alter Capital Gains Tax
Incentives for infrastructure projects
Enhance investment allowance: SMEs
Give full benefit of earlier exemption: Rationalise MAT
Reduce MAT rates: SMEs, SEZ, manufacturing zones
Deduction for R&D
Reduce tax on royalties/FTS payments

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