All eyes on Piyush Goyal, minutes ahead of Interim Budget

February 01, 2019 10:51

Union Finance Minister Piyush Goyal called on President Ram Nath Kovind at Rashtrapati Bhavan on Friday morning ahead of presenting the Union Budget, as part of tradition.

The Finance Minister shook hands with President Kovind and held a brief meeting with him at Rashtrapati Bhavan.

The President's House tweeted photos of the meeting and posted: "As per tradition, Finance Minister @PiyushGoyal calls on #PresidentKovind at Rashtrapati Bhavan before presenting the Union Budget."

As is standard 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 is presented in the Lok Sabha by the new government. If the budget date falls a few months ahead of General Elections, then an interim budget is presented.

Finance Minister Goyal, also the Railway Minister, examined the final copy of the document on Thursday evening. He will present the Interim Budget in the Lok Sabha at 11 am. He is also expected to address the media around 3.30 pm.

The interim budget will seek Parliament's nod for spending till a new Central government is sworn-in. The new government, elected after the General Elections due by May, is expected to present the full-fledged budget in July to be preceded by the tabling of Economic Survey.

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