Economy

In April-November, the country's fiscal deficit was Rs 7.17 lakh crore, or about 115 per cent of the budgeted target.

Union Minister Arun Jaitley on Friday brushed aside a leaked report that suggested a four-decade high in unemployment rate under the Narendra Modi government, terming it as an "unverified draft" that cannot be taken at face value. "I don't think that is a report. It's a draft that has not been approved," he said.

Relief for small taxpayers could not have waited till the full Budget, said Union Minister Piyush Goyal after presenting the election-year Interim Budget today. The minister who filled in for Finance Minister Arun Jaitley, recuperating from an illness in the US, said it was only an Interim Budget and the main Budget to be presented after the Lok Sabha elections would likely look into the rest.

Union Budget 2019: The election-year Interim Budget will now give breathing room for people who are planning to save on paying tax on the profit they get from selling off property. Union Minister Piyush Goyal, in a long Budget speech that started out with placing a lot of weight on benefits for farmers, said those who got a neat profit of up to Rs 2 crore from selling property can invest that money in not one but two properties to avoid paying capital gains tax (CGT).

The government has already received Rs 40,000 crore from the Reserve Bank of India during 2018-19.

The budget includes big announcements such as a major income support scheme for farmers and a new pension program for workers.

Stating that India is solidly back on track and marching towards growth and prosperity, he said the last five years have seen India being universally recognised as a bright spot of the global economy.

The NDA government led by Prime Minister Narendra Modi will ensure that every home across the country gets electricity connection by March this year, Union Minister Piyush Goyal said today in his Interim Budget speech that was seen as a populist budget in an election year.

The deficit was widely expected to be higher than targeted due to a combination of revenue shortfalls and increased spending ahead of the election.

Piyush Goyal, the interim finance minister, will present the 2019-20 budget to parliament.

Budget 2019 key highlights: Union minister Piyush Goyal presented the election year Interim Budget in parliament today and announced major relief for farmers and individual taxpayers. This was the last Interim Budget of the NDA government led by Prime Minister Narendra Modi before the Lok Sabha elections due by May.

Interim Union Budget 2019: Union Minister Piyush Goyal will on Friday present the interim budget in Parliament. This budget will be the last by the NDA government before Lok Sabha elections due by May. From a cash package for the farmer to tax reliefs for the common man, expectations are high from the annual financial statement of the current administration. But can an interim budget contain income tax sops, or propose to significantly inflate expenditure?

A RBI panel has removed Bank of India, Oriental Bank of Commerce and Bank of Maharashtra from its prompt corrective action plan list.

Crude oil, refinery products and fertiliser production recorded negative growth of 4.3%, 4.8% and 2.4%, respectively in December 2018.

The finance ministry said that final figures and details of collections for the entire month of January will be intimated on February 2, 2019.