Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
Press 'Enter' after typing page number.
Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Press 'Enter' after typing page number.
Press 'Enter' after typing page number.
Don't have an account? Register Here
17:30 HRS IST
New Delhi, Jan 30 (PTI) Keeping up with the tradition, the Narendra Modi-led government ahead of the general election will present an interim Budget on February 1, which is widely expected to contain certain sops for farmers and middle class
The last Budget of the present NDA government is likely to be presented by interim Finance Minister Piyush Goyal in the Lok Sabha
Confusion was created after the commerce ministry on Wednesday in a whatsapp message to media said: “do not refer Budget 2019-20 as interim Budget, it is officially referred as general Budget 2019-20”
However, the Finance Ministry later clarified that the Budget will be called interim Budget 2019-20
There were confusion in political circle that the government may deviate from the practice of presenting interim Budget and come up with full Budget ahead of the general elections
To this principal opposition party Congress had said it will strongly oppose both inside and outside Parliament the presentation of a “full budget” by the BJP-led NDA government as it has “no electoral legitimacy” and the step will go against set precedents and Parliamentary traditions
Last week, Railway Minister Goyal was given additional charge of the Finance Ministry as Arun Jaitley has gone to the US for treatment
Jaitley as the Finance Minister has presented five Budgets
As per practice, a Vote-on-Account or approval for essential government spending for a limited period is taken in an election year and a full-fledged budget presented by the new government
While P Chidambaram had presented the previous UPA government's Vote-on-Account in February 2014, Jaitley presented a full budget in July that year. Narendra Modi-led government scrapped a colonial-era tradition of presenting the Budget at the end of February.
Interim budget preserves Vote-on-Account practice, with presentation and naming clarified amid political objections and continuity concerns. The Finance Ministry confirmed presentation of an interim Budget 2019-20, reaffirming the established practice of seeking a Vote-on-Account to authorize essential government spending for a limited period in an election year, rather than presenting a full budget. Political objections were lodged against departing from precedent, and ministerial arrangements were noted due to the principal minister's temporary absence.Press 'Enter' after typing page number.