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News18 Daybreak | Nirmala Sitharaman to Announce Her First Budget Today and Other Stories You Need to Watch Out For

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Updated:July 5, 2019, 8:31 AM IST
News18 Daybreak | Nirmala Sitharaman to Announce Her First Budget Today and Other Stories You Need to Watch Out For
File photo of Finance Minister Nirmala Sitharaman (Image : PTI)

Today's Big Stories

FM Nirmala Sitharaman to announce her first Budget today, here's what to expect

Finance Minister Nirmala Sitharaman will announce her first budget today, that will present a roadmap for Modi government’s second term.

Budget 2019 comes at a crucial juncture for the government, which has been consistently racked by concerns around unemployment and sluggish GDP growth.

Follow the live updates here.

What to expect: The FM is expected to lower corporate taxes for small and medium-sized businesses and personal ones towards reviving consumption by the middle classes.

The Budget 2019 might come as a relief to the common man in particular as Sitharaman is likely to raise the income tax threshold for certain categories.

A boost in spending across sectors, including agriculture, healthcare and social sectors is also expected, which will come at the cost of short-term fiscal deficit targets.

Some analysts, however, believe that the less-than-ideal state of the economy might compel the government to stick to earnings, expenditures and investments it had put in the Interim Budget.

Here are some other major demands the Budget is likely to address from across sectors.

Economic Survey indicates: The Economic Survey that was released yesterday ticked all the right boxes in exhorting industry to come forward with investments to boost growth, debunking the correlation between increasing investments and job destruction, and explaining why the small and medium enterprises are erroneously thought to be mega job creators.

It also forecasts that the Indian economy will grow at 7% this fiscal, which would be an improvement over the 6.8% growth rate clocked in 2018-19.

Ravi Shankar Prasad moves Aadhar Amendment Bill, faces strong opposition

Union Minister Ravi Shankar Prasad moved the Aadhaar and Other Laws Amendment Bill, 2019 in the House for consideration, asserting that Parliament not only had the “right to make laws” but also “undo judgements”. He, however, faced opposition in several lawmakers including Congress MP Manish Tiwari who said that the government should first think about privacy and take into account a citizen's "right to be forgotten".

In Other News

‘Seen it before’: India on Thursday took a grim view of Pakistan’s announcement of crackdown against Hafiz Saeed, leader of the group blamed for the 2008 attacks in Mumbai. According to sources, India said that it will not be “fooled” by Islamabad’s “cosmetic” steps.

Brash attack: The son of former Maharashtra CM Narayan Rane - Congress MLA Nitish Rane - was taken into custody after he was caught on camera tying and pouring mud on a deputy engineer.

You’ve been served: Two days after Prime Minister Narendra Modi’s tough talk on Akash Vijayvargiya for assaulting a civic official with a bat, the Bharatiya Janata Party (BJP) issued a show cause notice to the first-time MLA.

Freedom to choose: Trinamool Congress MP Nusrat Jahan, who was under attack from Muslim clerics for wearing 'sindoor' and 'mangalsutra', on Thursday repeated her look as she stood with CM Mamata Banerjee for Kolkata’s annual Rath Yatra.

ICC Work Cup 2019: A combined effort with both bat and ball helped West Indies beat Afghanistan by 23 runs at Headingley on Thursday and finish their 2019 World Cup campaign on a high. Afghanistan, on the other hand, returned home with nine defeats in as many games.

On Our Specials

A hard look: Not many would like to be in the shoes of finance minister Nirmala Sitharaman this week. The second-term NDA government is slated to present its maiden Budget on Friday and all eyes will be on the measures Sitharaman announces to tackle the visible stress afflicting the Indian economy. GDP growth has been faltering (it was at 20-quarter low in the March quarter), questions are being raised on the reported growth numbers under this government’s first term, jobs have dried up and a truant monsoon is making life rather tough for farmers. Sindhu Bhattacharya looks at if the Modi government has money in its coffers to fulfill BJP’s poll promises.

On Reel

As India awaits Finance Minister Nirmala Sitharaman’s maiden Union Budget presentation today, here’s a look at some very interesting facts and trivia about the previous budgets.

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