21
Thursday
February 2019
11:57 AM IST
News Headlines
Saudi Arabia increases India''s Haj quota to 2 lakh after Modi-Salman talks        SC collegium transfers high court judges        Security of 18 separatists, 155 political leaders withdrawn        Crown Prince orders release of 850 Indian prisoners from Saudi jails        Putin says Russia to take measures if US deploys missiles        Jadhav''s death sentence based on ''extracted confession'', should be annulled: India tells ICJ        Israel strikes on Gaza arson balloons launchers, no injuries reported        Taylor surpasses Fleming becomes highest ODI scorer for NZ        ICC keeping a close watch on India-Pakistan situation ahead of WC        Vivo unveils V15Pro with Industry-first 32 MP pop-up selfie camera        Tripura gets Rs 85 crore Mega Food Park        India, Saudi Arabia ink MoUs for cooperation in tourism, broadcasting        Bernie Sanders enters 2020 US presidential race : Reports        Sixteen states sue Trump over border wall emergency        Djokovic wins his fourth Laureus World Sportsman of the Year        Pakistan shooters not taking part in New Delhi World Cup        Pulwama attack masterminded by Jaish, ISI: corps commander        Cricketer-turned-politician Kirti Azad joins Congress, calls it ''ghar wapsi''        Salve exposes Pak military courts at ICJ, says judges don''t even need law degree        RBI pays Rs 28,000 cr interim dividend to govt ahead of elections        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
Business News
Goyal to present interim Budget on Feb 1; no Economic Survey in offing
 
(New Delhi, Jan 31,2019): 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. 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.

Adding to the speculations was the statement by Arun Jaitley from New York, days before he temporarily gave up the charge of Finance Minister to Goyal to undergo treatment. In his address to an award function by CNBC TV18 through a video link, he had stated that: "Convention has always been that election year Budget is an interim Budget. The larger interest of the nation dictates what will be a part of the interim budget".

He suggested that issues confronting the farm sector will constitute one such challenge. Last week, Railway Minister Goyal was given additional charge of the Finance Ministry. 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. Last year, Narendra Modi-led government scrapped a colonial-era tradition of presenting the Budget at the end of February and it is now presented on February 1, so as to allow Parliamentary approvals to be completed before the start of the next financial year.


Vivo unveils V15Pro with Industry-first 32 MP pop-up selfie camera
Tripura gets Rs 85 crore Mega Food Park
India, Saudi Arabia ink MoUs for cooperation in tourism, broadcasting
RBI pays Rs 28,000 cr interim dividend to govt ahead of elections
Pak has no official info about India withdrawing MFN status: top trade official
Dollar changes hands in mid-110 yen range in early trade in Tokyo
Pulwama attack: Trade body announces bandh in 18 states on Feb 18
Indian Bank revises interest rate on domestic term deposits
Asia''s largest textile expo from Feb 22
Karnataka government for revial of defunct Falcon Tyres Ltd in Mysuru
HPCL to set up LPG bottling plant in Odisha
A380 Airbus abandons iconic A380 superjumbo, lacking clients
Mills to sell sugar at Rs 31/kg now from Rs 29 earlier: Paswan
IndiGo cancels around 130 flights for Friday
Tata Trusts Managing Trustee R Venkataramanan quits
IndiGo cancels 49 flights on Wednesday
Sensex, Nifty turn cautious ahead of IIP, inflation data releases
Gold futures on weak global cues, profit-booking
Tata Motors to supply electric buses to Lucknow City Transport Services
Govt aims to fetch Rs 5,316 cr through part-sale of Axis Bank stake
KERALA NEWS
Fire breaks out in a QRS showroom
 Kottayam: A major fire broke out in QRS showroom at Thirunnakkara in Kottayam on Monday evening. On  
Flash Hartal in Kerala: Stray incidents of violence reported
Thousands bid emotional farewell to CRPF jawan in Kerala
Religious practices should be respected: Smriti Irani
INTERNATIONAL NEWS
Putin says Russia to take measures if US deploys missiles
 Moscow: Russia does not intend to be the first to place missiles in Europe but will develop its defe
Jadhav''s death sentence based on ''extracted confession'', should be annulled: India tells ICJ
Israel strikes on Gaza arson balloons launchers, no injuries reported
Bernie Sanders enters 2020 US presidential race : Reports
NATIONAL NEWS
Saudi Arabia increases India''s Haj quota to 2 lakh after Modi-Salman talks
 New Delhi: Saudi Arabia on Wednesday increased India''s Haj quota by about 25,000, the third hike in
SC collegium transfers high court judges
Security of 18 separatists, 155 political leaders withdrawn
Cricketer-turned-politician Kirti Azad joins Congress, calls it ''ghar wapsi''
Untitled Page
Rashtra Deepika LTD
Copyright @ 2019 , Rashtra Deepika Ltd.