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Parliament Live Updates: Projections made in budget are realistic, says FM

Days after presenting the Union Budget 2019, Finance Minister Nirmala Sitharaman addressed the parliament on Wednesday

twitter-logo BusinessToday.In   New Delhi     Last Updated: July 10, 2019  | 16:59 IST
Parliament Live Updates: Projections made in budget are realistic, says FM
Finance Minister Nirmala Sitharaman's reply on Union Budget 2019 in Lok Sabha

The ongoing debate over the Union Budget, started on 5 July will now move further as Finance Minister Nirmala Sitharaman presented her reply in Lok Sabha on Wedesday, 10  July on the issue at hand. The budget is aimed at making India reach USD 5 trillion economy in the next 5 years. However, this budget is condemned by the opposition party leaders, Shashi Tharoor and Adhir Ranjan Chowdhury. Chowdhury had claimed in a story by ANI that "There is nothing new, it is a repetition of old promises. They are talking about new India but the Budget is the same old wine in a new bottle. There is no plan for employment generation, no new initiatives".

Alongside, Tharoor showed dissatisfaction regarding the hike in fuel prices, asserting that increase in fuel prices will lead to an overall increase in costs of all consumption products. An increase of Rs 2 on the price of petrol per liter can be proved detrimental for a common man. Congress Spokesperson, Randeep Singh Surjewala maintained the statement that budget is anti-people, anti-youth, anti-poor and farmers, as reported by ANI. He went on to say that Modi Ji's government is against these groups and questioned why there was nothing mentioned about the plight of the farmers.

Days after presenting the Union Budget 2019, Finance Minister Nirmala Sitharaman addressed the parliament on Wednesday. 

Check here are the live updates of parliament:

3:05 pm: Speaking in the Lok Sabha, Finance Minister Nirmala Sitharaman said "There has been an increase of over Rs. 80,000 crore from last financial year, and more than 2 lakh crore over the Budget of 2017-18. This shows the serious intent of the government towards a stronger economy and the country's development."

3:15pm: "Projections made in the budget are realistic and adequately provide for items for expenditures such as defense, pensions and salaries, internal security and establishment expenditures of the govt itself. So, to fully finance these expenditure commitments, necessary resource mobilisations from tax and non-tax sources have also been envisaged," FM said in the Parliament.

3:25pm: Sitharaman said, "Government committed to the path of fiscal consolidation without compromising on public expenditure."

3:35pm: "The budget 2019-20 reflects the commitment of this government to substantially boost investment in agriculture, social sector, particularly in education and health, keeping the fiscal deficit at 3.3% of GDP as against 3.4% which was envisaged in the interim budget," she said.

3:40pm: Growth of the economy is as important as national security, said Finance Minister.

3:45pm: This budget reflects the govt's commitment to boost investment in Agro and Social sector, said Sitharaman.

3:50pm: Govt is committed to continue to path of fiscal consolidation without compromising on the requirement of public expenditure placed by the various sectors, said FM.

4:00pm: "In the budget estimates of 2019-20, the total expenditure has increased by Rs. 3,44,134 crore over the BE of 2018-19 and an increase of Rs. 3,29,114 crore over the RE of 2018-19," said FM.

4:05pm: Promotion of economic growth will be at top of our agenda, says FM.

4:10pm: We would do it by bringing in more steps towards having greater investment drawn in this country, said FM.

4:15pm: FM reassured that there is nowhere a decline. Expenditure has improved and increased, income receipts have also increased.

Also read: Advance Ruling Authority under GST: Does it really solve the taxpayer's issues?

Also read: Modi govt plans to widen tax base, eyes 1.3 crore new return filers in FY20

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