Goyal to present interim budget on Feb 1, no Economic Survey in offing

January 30, 2019 22:25

Finance Minister Piyush Goyal will on February 1 present Narendra Modi government's sixth and final budget, which will be an interim one, keeping up with established tradition.

The budget will seek Parliament's nod for spending for four months till a new government is sworn-in.

Official sources said the budget documents will contain revenue and expenditure projections for the entire 2019-20 fiscal year beginning April 1, but a 'Vote on Account' will seek Parliament nod for the expenditure side.

While it is widely expected that the interim budget may contain tax sops and a certain package for the farm sector, there will be no Economic Survey detailing the state of the economy.

The new government, elected after general elections due by May, is expected to present a full budget in July along with the Economic Survey.

With the ruling BJP looking to regain grounds lost in the recent assembly elections, it was speculated that the budget presentation on February 1 will be just like a full-fledged one with sops and announcements to woo voters.

The Lok Sabha website, however, in its Provisional Calendar referred to the event as an Interim Budget.

The finance ministry also denied having instructed its staff to refer to the upcoming budget on February 1 as a 'general budget'.

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. -- PTI

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