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(Closed) LIVE: Finance Minister Piyush Goyal presents interim Union Budget 2019

Follow our LIVE blog for updates on internet, taxation, technology announcements in the interim Union Budget being presented by Finance Minister Piyush Goyal in Lok Sabha.

Watch the livestream here.

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12:52 pm: House adjourned. Budget presentation ends.

12:19 pm: Goyal has mentioned ‘startups’ thrice in the last 5 minutes. Now onto cleaning the Ganga and other rivers.

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12:15 pm: The second dimension of the vision is that Digital India will reach every sector and every corner of the country. Infrastructure of 2030 will be based on digitization of government processes.

12:13 pm:

Goyal says that PM Narendra Modi has laid the foundation for India to grow “for times to come”. Lays out vision for next decade:

12:10 pm: India Customs will digitize export-import transactions and use an RFID system to improve export logistics.

12:03 pm:

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Digital India: Piyush Goyal: “India is leading the world in mobile data consumption, monthly data consumption has increased 50 times in the past 5 years. The cost of data and voice in India is possibly the lowest in the world. Mobile manufacturing companies have now increased from 2 to 268 in the country, providing job opportunities.

Over 3 lakh Common Service Centres are operational, employing 12 lakh people, they are delivering service digitally to citizens. The government will make 1 lakh villages digital in the next five years, says Goyal.

Jan Dhan-Aadhaar-Mobile and Direct Benefit Transfer have been game changers. In the last 5 years, 34 crore Jan Dhan bank accounts were opened, Aadhaar has seen near universal implementation, and poor and middle class people have received govt scheme benefits directly in bank accounts eliminating middle men.”

Anti-camcording provisions to be introduced in Cinematograph Act to prevent piracy.

Digitising IT returns: 99.54% of all income tax returns were accepted as soon as they were filed, without any scrutiny. IT Dept will be tech savvy: all returns will be processed within 24 hours. Within 2 years, all verification and assessment will be done electronically selected for scrutiny to be done via an Anonymized Tax Back Office manned by tax experts.

11:52 am:

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11:47 am
: Transactions worth Rs 17,500 crore have taken place on Government E-marketplace, leading to average savings of 25-28%. It will now be extended to all PSU enterprises.

DIPP will now be known as Department of Promotion of Industry and Internal Trade.


11:45 am
: National Centre for Artificial Intelligence will be established, with centers of excellence, a national AI portal will be developed soon, and nine ‘priority areas’ have been identified.

10:45 am:

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