Budget 2017 Budget 2017: As it happened The Hindu Net Desk February 01, 2017 06:14 IST The Hindu Net Desk February 01, 2017 06:14 IST No service charge on tickets booked via IRCTC; total expenditure placed at Rs. 21,47,000 crore. Share Article













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PRINT A A A Illustration: Deepak Harichandan No service charge on tickets booked via IRCTC; total expenditure placed at Rs. 21,47,000 crore. Top Developments Target for agricultural has been fixed at a record Rs 10 lakh crore for FY17-18 Rs10 lakh crore as credit to farmers with 60 days interest waiver says FM Highest ever allocation for MGNREGA of Rs 48,000 crore. Selected airports in tier 2 cities to be developed in PPP mode. More than 1.5 lakh gram Panchayats to get high speed broadband internet. Aadhaar-based smartcards for senior citizens to monitor health Union Finance Minister Arun Jaitley presents his third Budget on Wednesday, February 1. 1.10 p.m.

Our Analysis - Pallavi Singhal

partner - direct tax, PricewaterhouseCoopers Boost to Start-ups : The 3 year tax holiday available to start-ups has been extended from the existing period of first 5 years of operation to 7 years. This is a welcome move as the initial gestation period of start-ups is generally long. Also, the removal of the embargo on carry forward of losses in event of change in share holding beyond 51% of promoter share, helps meet the constant funding requirements of a start-up, which triggers constant change in holding patterns. These announcements will cheer up the start-up ecosystem which has seen a challenging year.

Finance Minister Arun Jaitley and his team call on President Pranab Mukherjee for the customary briefing on the Budget before presentation.



We will have a panel of experts commenting on the Budget as the Finance Minister presents his speech. Pallavi Singhal, partner - direct tax and Kunal Wadhwa, partner - indirect tax, from PricewaterhouseCoopers, and Pankaj Mathpal, MD, Optima Money Manager Pvt. Ltd. will be weighing in with their opinions.

Since 2004, the Budget has been presented 15 times (including two interim Budgets). Sensex has fallen on nine such Budget days.

10 a.m.



Market rose by over 64 points in opening trade as investors built up positions ahead of the Union Budget. The rupee appreciating 24 paise to 67.63 against the dollar added to the positivity.

Ministers Venkaiah Naidu and Ananth Kumar will pay their respects to E. Ahamed at 9 Teen Murti Marg. Speaker Sumitra Mahajan too will pay her respects.

Prime Minister Narendra Modi condoled the demise of the MP and said his efforts for empowerment of the Muslim community will be remembered.

Mr. E Ahamed devoted significant efforts towards Kerala's progress. His role in deepening India's ties with West Asia was notable. — Narendra Modi (@narendramodi) February 1, 2017

9 a.m.

Finance Minister Arun Jaitley along with MoS Finance Arjun Ram Meghwal and Santosh Gangwar are all set to present the union budget. | Photo Credit: V. Sudershan

8.45 a.m.



Uncertainty prevailed at first over presentation of the Budget after IUML national president and former Minister E. Ahamed passed away early on February 1.

This is scene outside the gate number 2 of the North Block from where the Finance Minister will leave to meet the President before finally arriving at the Parliament to present the budget. | Photo Credit: V. Sudershan

Here is what has happened so far:

President Pranab Mukherjee addressed both Houses of Parliament on the first day of the Budget session on Tuesday. He hailed the decision to advance the date of the Budget and to merge the Railway Budget with the Union Budget.

Economic Survey



The Economic Survey was tabled in Parliament by Union Finance Minister Arun Jaitley.

Chief Economic Adviser Arvind Subramanian spoke about demonetisation and its effects. "India will soon be remonetised," he said.

Also Read India will soon be remonetised: Chief Economic Adviser

What to expect



Following a winter session that only saw repeated disruptions, the Budget session has built up a lot of anticipation. Here is what there is to look forward to.

The Hindu survey



The Hindu conducted a survey to capture the mood of the common man and industry.

Railway Minister Suresh Prabhu made different proposals in his 2016 Budget speech. Here's a look.