#Budget2017: Finance Minister's budget speech; what happened when....

#Budget2017: Finance Minister's budget speech; what happened when....
GST rollout postponed till July 1: Finance Minister Arun Jaitley

New Delhi: Finance Minister Arun Jaitley would present the fourth budget of the Narendra Modi government, and perhaps the most awaited one after Demonetisation, on Wednesday at 1100 hours in the Lok Sabha.

It may, however, be possible tha the budget presentation may be postponed to February 2, following the passing away of Lok Sabha Member of Parliament E Ahamed. A call on this will be taken by Lok Sabha Speaker Sumitra Mahajan.


#Budget LIVE:From going easy on taxes to GST, what Budget 2017 contains…


13:00pm: Lok Sabha adjourns after FM Jaitley concludes his budget 2017 speech.

12:15 pm: There is an urgent need to protect the poor from chit fund schemes, draft bill placed in public domain. Due to Demonetisation advance tax on personal Income tax increased by 34.8 per cent.

12: 10 pm: Out of 3.7 crore who filed tax returns in 2015-16, only 24 lakh persons showed income above Rs 10 lakh

12:00 pm: "We are largely a tax non compliant society, when too many people evade taxes burden falls on those who are honest."

11. 24 am: “We are aware we need to do more for our people, our agenda is transform, energise and clean India, that is ‘tech India'”

11. 25 am: Surplus liquidity in banking system created by demonetisation will lower borrowing cost and increase access to credit.

11. 23 am: “My aim while preparing the budget this year has been to spend more in rural areas, infrastructure and poverty alleviation and yet maintain fiscal prudence.”

11:22 am: The last one year has seen many reforms. The three major reforms were pre-ponment of the union budget, merger of general budget with the rail budget and done away with the excessive expenditure leading to the allocation of the resources.

11:20 am: "The rate of remonetisation has started and will boost very fast."

11. 14 am: “Expectations included burning issues like inflation and price rise, issue of corruption and crony capitalism. Our focus will be on energising youth to reap benefits of growth and employment. Growth in a number of emerging economies is expected to recover in 2017.”

11. 12 am: “From favouritism to objectivity in decision making, from an informal to a formal economy, inflation in double figures has been controlled, we have launched a massive war against black money… The government is now seen as a trusted custodian of public money,I express gratitude to people for their strong support. Our Govt. was elected amidst huge expectations of people, the underlying theme of expectations being good governance.”

11: 10 am: Arun Jaitley starts budget speech. Thanks the country for supporting the government.

In next slide: The speaker said that the Budget will be presented...

11:07 am: Speaker adjourns the house for Thursday and asks the Finance Minister to present the budget 2017. "The House may go ahead with the presentation of the Union budget 2017-18. The House may not sit tomorrow as a mark of respect for the deceased member.”

11:03 am: Speaker Sumitra Mahajan and the house pays condolence to the former union minister who passed away on intervening night of Wednesday.

10:43 am: Speaker Sumitra Mahajan reaches Parliament, says that the Budget will be there.

10.32 am: Finance Minister Arun Jaitley holds meeting with the Union Cabinet in Parliament House. The FM will share details of the budget with his cabinet colleagues before heading to Lok Sabha.

10:25 am: The Finance Minister briefs the President on the government’s initiatives in the budget before he presents it in Parliament.

10.12 am: Lok Sabha Speaker Sumitra Mahajan has left for Parliament.

10:10 am: The Congress party is in view of postponement of the budget. “In our opinion, including JDU leaders and former PM Deve Gowda, the budget should be postponed” said Leader of Congress Party in Lok Sabha Mallikarjun Kharge .

10:01 am: Speaker Sumitra Mahajan visits Member of Parliament E Ahamed’s residence. He passed away on Wednesday morning following a heart attack. The decision regarding the adjournment of the house will be announced by the speaker in the Parliament.

9.47 am: Finance Minister Arun Jaitley has arrived at Parliament House.

9.40 am: A decision regarding the postponement of Budget will be taken at 1000 hours by Speaker Sumitra Mahajan. The postponement may take place due to unfortunate passing away of a sitting MP E Ahamed. If the speaker Mahajan adjourns the housethe budget will be presented on February 2. According to sources from the finance ministry ,“Budget will be presented, obituary may happen before or after it, government has spoken to all parties and arrived at consensus.”

In next slide: what happened before the Arun Jaitley's arrival...

9.20 am: Finance Minister Arun Jaitley has left North Block for Rashtrapati Bhavan. He will meet with President Pranab Mukherjee ahead of its presentation in Parliament.

9.15 am: Copies of the Budget arrived outside Parliament complex and were going through a round of security checks including those by a K-9 police squad.

8.50 am: Finance Minister Arun Jaitley arrived at Finance Ministryand met the officials of the ministry before heading to President Pranab Mukherjee’s residence and then to Parliament. He will present the Union Budget at 1100 hours.