Union Budget 2013 Live Updates- 1.34 PM-1.51 PM (TOI)

01:51 PM

Budget 2013 will create a feel-good atmosphere: KV Kamath, chairman Infosys, says.

01:50 PM

Highlights of Union Budget 2013-14

India must make tough spending choices, FM said, even as he unveiled a bigger-than-expected outlay for the coming fiscal year. Here are the highlights.

01:49 PM

Govt announces Nirbhaya Fund for women's safety

The government on Thursday announced the setting up of a special Nirbhaya Fund for women's safety with a corpus of Rs 1,000 crore.

01:49 PM

Govt announces 5% increase in defence spending

The government on Thursday hiked defence spending to Rs 203,672 crore, marking an increase of five per cent over the outlay of 2012-13 at Rs 193,407 crore.

01:48 PM

India's first all-women bank by October: Chidambaram

The country is all set to get an all-women bank by this year with the government announcing an initial capital of Rs 1,000 crore for the purpose. 

01:48 PM

Farm credit enhanced by Rs 1.25 lakh crore for FY'14

Finance minister P Chidambaram today announced a sharp increase of Rs 1.25 lakh crore in agriculture credit target to Rs 7 lakh crore for next fiscal and allocated additional Rs 10,000 crore in subsidy for implementing the Food Security Bill.

01:41 PM

Inflation, fiscal deficit, current account deficit are three basic challenges to economy; need multi-pronged strategy to tackle them: PM

01:39 PM

"The finance minister has done a commendable job in containing the deficit while simultaneously addressing the growth imperatives."

-PM Manmohan Singh

01:34 PM

FM has laid out a roadmap with regard to investments, says PM.

Union Budget 2013 Live Updates- 12.51 PM-12.33 PM (TOI)

01:33 PM

Sensex extends losses, down 150 points now: Reuters

01:30 PM

Given the challenges our economy is facing, Chidambaram has done a commendable job: PM

01:29 PM

We need to create jobs for our labour force: PM

01:29 PM

We need a growth rate of about 8%: PM

01:28 PM

PM Manmohan Singh is now giving his reaction on the Union Budget 2013-14.

01:25 PM

Budget highlights: Fiscal deficit

* Fiscal deficit seen at 5.2% of GDP in 2012/13

* Fiscal deficit seen at 4.8% of GDP in 2013/14

* Faced with huge fiscal deficit, India had no choice but to rationalise expenditure

01:23 PM

Watch: 42,800 people with annual taxable income higher than Rs 1 crore to be taxed

01:22 PM

Chidambaram has rolled back legacy of Pranab Mukherjee: BJP leader Yashwant Sinha

01:03 PM

People watching Union Budget presentation in a TV showroom in Bhopal on Thursday.

01:03 PM

Budget 2013: Government targets 558.14 billion rupees from stake sales in state-run firms in 2013/14.

12:55 PM

What is cheaper: Jewellery, leather goods

Union Budget 2013 Live Updates- 12.44 PM-12.51 PM (TOI)

01:03 PM

People watching Union Budget presentation in a TV showroom in Bhopal on Thursday.

01:03 PM

Budget 2013: Government targets 558.14 billion rupees from stake sales in state-run firms in 2013/14.

12:55 PM

What is cheaper: Jewellery, leather goods

Union Budget 2013 Live Updates- 12.44 PM-12.51 PM (TOI)

12:54 PM

Watch: No revision in income tax slabs, says Chidambaram

12:51 PM

What is costlier: Cigarettes, mobile phones, dining in AC restaurants. SUVs.

12:47 PM

Budget speech ends; Markets are down, Sensex falls around 50 points.

12:46 PM

Finance minister P Chidambaram closes Budget presentation with a quote from Swami Vivekananda.

12:45 PM

Duty-free limit for gold raised to Rs 50,000 for men and Rs 1 lakh for women.

Union Budget 2013 Live Updates- 12.38 PM-12.44 PM (TOI)

12:44 PM

6% tax hike on all mobile phones above Rs 2000.

12:42 PM

Mobile phones above Rs 2000 to cost more.

12:42 PM

Set-top box import duty hiked.

12:40 PM

Service tax to be levied on all restaurants.

12:40 PM

Cigarettes to cost more. Excise duty on cigarettes increased by 18%.

Union Budget 2013 Live Updates- 12.31 PM-12.38 PM (TOI)

12:38 PM

SUVs to get costly.

12:38 PM

Customs duty on SUVs raised from 75% to 100%:

12:36 PM

11 lakh beneficiaries have received benefit under Direct Benefit Transfer scheme: FM

12:33 PM

Education cess to continue at 3%: FM

12:33 PM

No change in normal rates of customs and excise duty rates: FM

Union Budget 2013 Live Updates- 12.25 PM-12.31 PM (TOI)

12:31 PM

Donations to National Children Fund will get 100% tax exemption.

12:29 PM

Chidambaram proposes to reduce securities transaction tax (STT) on equity futures to .01% from .017%.

12:27 PM

Sensex falls around 75 points as FM raises corporate, individual taxes (surcharge).

12:25 PM

42,800 people with annual taxable income higher than Rs 1 crore to be taxed. They will have to pay a surcharge of 10% for 2013-14: FM

Union Budget 2013 Live Updates- 12.22 PM-12.27 PM (TOI)

12:27 PM

Sensex falls around 75 points as FM raises corporate, individual taxes (surcharge).

12:25 PM

42,800 people with annual taxable income higher than Rs 1 crore to be taxed. They will have to pay a surcharge of 10% for 2013-14: FM

12:25 PM

"I believe there is a bit of Azim Premji in every taxpayer."

-Chidambaram

Union Budget 2013 Live Updates- 12.016 PM-12.22 PM (TOI)

12:22 PM

Those with taxable income exceeding Rs 1 crore a year will have to pay a surcharge of 10% additional surcharges only for one year — 2013-14: FM

12:21 PM

But for tax payers in the bracket of Rs 2 to 5 lakh, a tax credit of Rs 2500: FM

12:19 PM

No revision in tax slabs: FM

12:17 PM

Tax administration reform commission to be set up: FM

Union Budget 2013 Live Updates- 12.012 PM-12.16 PM (TOI)

12:16 PM

Chidambaram now comes to tax proposals.

12:13 PM

FM announces Nirbhaya fund for women. Nirbhaya was the symbolic name given by the TOI to Delhi gang-rape victim.

12:12 PM

We have a collective responsibility to ensure safety and dignity of women.

Union Budget 2013 Live Updates- 12.06 PM-12.09 PM (TOI)

12:09 PM

Additional funds to be provided if needed for the defence sector: FM

12:08 PM

294 more cities to get privte radio FM stations.

12:08 PM

Govt to allocate 2.03 trillion rupees to defence sector in 2013/14: FM

Union Budget 2013 Live Updates- 12.02 PM-12.06 PM (TOI)

12:06 PM

Rs 14,000 crore to be infused into public sector banks: FM

12:05 PM

All public sector bank branches will have ATM: FM

12:04 PM

On capital market: Sebi Act to be amended, says FM

12:03 PM

Budget propose to support municipalities that will convert waste into energy.

Union Budget 2013 Live Updates- 11.57 AM-12.02 PM (TOI)

12:02 PM

Waste-to-energy projects will be financed by PPP mode: FM

12:01 PM

Govt to construct power transmission system from Srinagar to Leh at the cost of Rs 1,840 crore, Rs 226 crore provided in current Budget: FM

12:01 PM

First housing loan up to Rs 25 lakh would get additional deduction of interest of up to Rs 1 lakh in 2013-14, says FM.

12:00 PM

Watch: Rs 1 lakh additional exemption for home loans

Union Budget 2013 Live Updates- 11.53 AM-11.57 AM (TOI)

11:57 AM

Rajiv Gandhi Equity Scheme will be liberalised to allow first time investor to invest in mutual fund and equity

11:56 AM

Many manufacturing projects stalled due to regulatory process: FM

11:56 AM

Government has decided to constitute a regulatory authority for the road sector: FM

11:55 AM

India's first women's bank to be set up. it will be a public sector bank: FM

11:55 AM

Persons taking home loan for the first time will get additional rebate of Rs 1 lakh.

Union Budget 2013 Live Updates- 11.48 AM-11.53 AM (TOI)

11:53 AM

Home loan exemption limit hiked from Rs 1.5 lakh to Rs 2.5 lakh.

11:51 AM

Sensex is down around 100 points from its highest point of the day: Reuters

11:50 AM

Chidambaram announces rebate for new home buyers.

11:49 AM

Green revolution in east India significant. Rice output increased in Assam, Odisha, Jharkhand and West Bengal; Rs 1,000 crore allocated for eastern states.

11:49 AM

Rs 5,387 crore to be allocated for integrated watershed programme for farmers in 2013-14, an increase from Rs 3,050 crore in the current fiscal.

11:49 AM

Indian Institute of Biotechnology will be set up at Ranchi.

11:49 AM

Funds given to technology incubators at recognized universities to qualify as CSR initiatives: FM

Union Budget 2013 Live Updates- 11.44 AM-11.48 AM (TOI)

11:48 AM

Watch: Rs 200 crore to stop women harassment, FM says

11:47 AM

Rs 7 lakh crore target fixed for agri credit for 2013-14 compared to Rs 5.75 lakh crore in the current year.

11:47 AM

Eastern Indian states to get Rs 1,000 crore allocation for improving agricultural production.

11:47 AM

Rs 500 crore allocated for programme on crop diversification.

11:46 AM

We must reduce our dependence on imported coal. Measures to be announced in due course: FM

11:44 AM

Average annual growth rate of agriculture and allied services estimated at 3.6 per cent in 2012-13 when 250 MT foodgrains was produced: FM

11:44 AM

Rs 27,049 crore allocation to the agriculture ministry in 2013-14, says FM.

Union Budget 2013 Live Updates::11.38 AM : 11.44 AM (TOI)

11:44 AM

Average annual growth rate of agriculture and allied services estimated at 3.6 per cent in 2012-13 when 250 MT foodgrains was produced: FM

11:44 AM

Rs 27,049 crore allocation to the agriculture ministry in 2013-14, says FM.

11:44 AM

Five inland waterways have been declared national waterways. Work is underway to build a grid connecting waterways and roads: FM

11:43 AM

Two new major ports to be set up — one in West Bengal and the other in Andhra Pradesh.

11:43 AM

Delhi-Mumbai industrial corridor has made rapid progress: FM

11:41 AM

Delhi-Mumbai industrial corridor has made rapid progress: FM

11:41 AM

Drinking water and sanitation ministry allocated Rs 15,260 crore: FM

11:41 AM

Rs 17,700 crore allocated for Integrated Child Development Scheme.

11:40 AM

Rs 13,250 crore allocated for midday meals scheme.

11:39 AM

Plan to allocate 270.49 billion rupees for agriculture in 2013/14.

Union Budget 2013 Live Updates :: 11.32 AM to 11.38 AM (TOI)

11:38 AM

Market alert

Sensex is up around 60 points now, 22 components in green; the index was up almost 150 points earlier. (Reuters)

11:37 AM

Govt to set up regulatory authority for road sector: FM

11:36 AM

Chidambaram promises Rs 10,000 crore for Food Security Bill.

11:36 AM

FM seeks to dispel tax-burden and regulatory fears.

11:35 AM

Rs 13,215 crore to be provided for mid-day meal scheme: FM

11:35 AM

Rs 4,727 crore to be allocated for medical education and research. Rs 1,069 crore to be given to Department of Ayush

11:34 AM

Rs 65,867 crore allocated to ministry of HRD in 2013-14: FM

11:33 AM

Rs 37,330 crore allocated for ministry of health & family welfare.

Union Budget 2013 Live Updates :: 11.30 AM to 11.32 AM (TOI)

11:33 AM

Rs 37,330 crore allocated for ministry of health & family welfare.

11:33 AM

Investment is a matter of faith. Doing business in India must be seen as easy, friendly and beneficial: FM

11:32 AM

Food Security Bill is a priority for UPA govt: Chidambaram

Union Budget 2013 Live Updates :: 11.19 AM to 11.30 AM (TOI)

11:30 AM

Watch: Sufficient funds allocated to all ministries for development, FM says

11:28 AM

One overarching goal to provide education and skills to youth for securing jobs in the 2013-14, says FM.

11:27 AM

"Faced with a huge fiscal deficit, I have no choice but to rationalize expenditure. We took a dose of bitter medicine. It seems to be working."

-Chidambaram

11:27 AM

FM allocates Rs 41,561 crore for SC sub-plan; Rs 24,598 crore for tribal sub plan.

11:26 AM

Chidambaram announces over Rs 80,000 crore for rural development ministry.

11:25 AM

Plan expenditure in 12th Five-Year-Plan revised to Rs 14,30,825 crore or 96 per cent of budgeted expenditure.

11:25 AM

Thousands of scholarships to be given to SC/ST students, girls: FM

11:24 AM

Budget expenditure is Rs 16,65,297 crore and Plan expenditure Rs 5,55, 322 crore: FM.

11:20 AM

Chidambaram allocates Rs 65,000 crore for education sector.

11:19 AM

Education is another area of priority: FM

11:19 AM

6 AIIMS-like educational institutions have admitted first batch of students: Chidambaram

11:19 AM

Health and education for all remain our priorities: Chidambaram

Union Budget 2013 Live Updates :: 11.19 AM to 11.22 AM (TOI)

11:22 AM

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11:20 AM

Chidambaram allocates Rs 65,000 crore for education sector.

11:19 AM

Education is another area of priority: FM

11:19 AM

6 AIIMS-like educational institutions have admitted first batch of students: Chidambaram

11:19 AM

Health and education for all remain our priorities: Chidambaram

11:19 AM

Chidambaram is talking about allocation of funds to different social sectors.

Union Budget 2013 Live Updates :: 11.15 AM to 11.19 AM

11:19 AMHealth and education for all remain our priorities: Chidambaram

11:19 AMChidambaram is talking about allocation of funds to different social sectors.

11:17 AMGovt is committed to provide support to persons with disability: FM

Union Budget 2013 Live Updates :: 11.11 AM to 11.15 AM

11:15 AM

Young women face gender discrimination everywhere including the work place: FM

11:14 AM

Main aim of the budget is to create opportunity for the youth: FM

11:14 AM

India faces challenge of getting back to its potential growth rate of 8%: Chidambaram

Union Budget 2013 Live Updates :: 11.06 AM to 11.11 AM

11:11 AM

Food inflation is worrying and we must take steps to boost the supply of food items: FM

11:10 AM

Foreign investment is imperative: Chidambaram

11:08 AM

My greater worry is current account deficit: Chidambaram

11:07 AM

Women, schedule tribes, schedule castes have been left behind in economic growth in many states: Chidambaram

11:06 AM

The UPA govt believes in inclusive development, Chidambaram says.

Budget 2013: Latest Updates

Live Blog for latest updates.

2 New Updates

11:06 AM

The UPA govt believes in inclusive development, Chidambaram says.

11:06 AM

High growth with inclusive and sustainable development is our aim. Without growth, there will be no inclusiveness and sustainability: Chidambaram

11:05 AM

Only China and Indonesia are growing faster than India. Next year, only China will grow faster than India: Chidambaram

11:04 AM

Global economy has slowed down. We are not unaffected by what happens in the world. Our economy too has slowed down: Chidambaram

11:02 AM

Madam Speaker sir, I rise to present the Union Budget for 2013-14.

11:02 AM

Finance minister P Chidambaram starts presentation of Union Budget 2013-14.

11:01 AM

BSE realty index sits at the top of the sectoral pack with gains of 2%.

10:50 AM

Watch: Chidambaram reaches Parliament to present Budget 2013

10:48 AM

Sensex is up around 100 points as of 10:47am.

10:47 AM

February has been a disappointing month for markets; the Sensex is down 3%, but who knows how markets react today after Budget.

10:28 AM

There are eight assembly elections scheduled in the coming months ahead of the parliamentary poll.

10:21 AM

Chidambaram to present his 8th Budget today.

Finance minister P Chidambaram poses as he leaves his office to present the Union Budget. (Photo: Reuters)

10:04 AM

Finance minister P Chidambaram has reached Parliament.

10:00 AM

Union Budget special 2013

You can read TOI's special coverage on Budget 2013 throughout the day here.

09:56 AM

Rupee up 26 paise against dollar ahead of Union Budget

The rupee today gained 26 paise to 53.60 against the dollar in early trade at the Interbank Foreign Exchange on increased selling of the US currency by exporters.

09:52 AM

Sensex is up around 100 points ahead of budget, 24 components are in green.

09:48 AM

This year's Budget is also significant as it would be the last before the general elections due in April-May next year. There can only be an interim budget before the elections.

09:47 AM

Trivia: Since independence in August 1947, the country has seen a total of 25 ministers hold the finance portfolio. It has also seen 81 budgets -- 65 normal annual budgets, 12 interim budgets and four special-occasion budgetary measures, also called mini-budgets.

09:47 AM

Budget trivia: Among the 25 finance ministers since independence, the tenures of two leaders holding the finance portfolio -- Inder Kumar Gujral and Hemvati Nandan Bahugana -- did not afford them the pleasure of presenting a national budget.

09:45 AM

Apart from Chidambaram, only former Prime Minister Morarji Desai had presented Budget eight times.

09:33 AM

Ajit Ninan's take on fiscal fight in India.

09:28 AM

Finance minister P Chidambaram will today present the eighth Budget of his career.

09:28 AM

Budget trivia: The first Indian budget was presented by James Wilson on Feb 18, 1869. His designation was Finance Member of the Indian Council that advised the viceroy.

09:24 AM

Sensex opens 162 points up; Nifty opens 50 points up.

09:24 AM

Strong opening for markets ahead of Union Budget 2013-14.

09:14 AM

Finance minister P Chidambaram giving final touches to the Union Budget 2013-14 on the eve of its presentation in the Lok Sabha, in New Delhi on Wednesday.

09:13 AM

Finance minister P Chidambaram has reached North Block.

09:12 AM

Nifty is up around 38 points in pre-open trade: Reuters

09:10 AM

Credibility at stake

Chidambaram has staked his reputation on hitting a fiscal deficit target of 5.3 percent of GDP this year and 4.8 percent in 2013/14. A no-nonsense, Harvard-educated, lawyer who commands both respect and fear in government, he has squelched opposition from cabinet colleagues worried that spending cuts could ignite a backlash among voters.

09:10 AM

Economists say he may also unveil measures to widen the tax net to boost government revenues, lay the groundwork for a goods and services tax, reduce the government's huge subsidies bill, sell more stakes in state-owned enterprises and raise import duties to dampen demand for gold.

09:09 AM

The 2013/14 budget caps an intensive seven-month campaign by the energetic Chidambaram, who was appointed last August, to turn around the fortunes of Asia's third-largest economy.

09:08 AM

Finance minister P Chidambaram will present one of the most highly anticipated budgets of recent years today. Stay with TOI Live Blog for latest updates.