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August 2019
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Former Finance Minister Arun Jaitley passes away        I find nets claustrophobic, prefer centre wicket for match simulation: Kohli        Rahane's 81 only saving grace in India 203 for 6 on day 1        No more dessert names, Google to officially call new OS 'Android 10'        Sensex, Nifty rebound on hopes of FPI tax rollback        Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi        Two Govt hospitals in Pak deny specialised ambulance facility to Sharif        UN, France raise concern over Amazon wildfires 'crisis'        INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter        Always said demonising Modi wrong: Singhvi        Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion        FM proposes measures to enhance fund flows for infra, housing projs        FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials        Vivek Oberoi to star in film on Balakot air strikes        It's better to get hit early and hard: Kohli on bouncers        Messi 'made me better player', says Ronaldo        Nirav Modi to appear via videolink for remand hearing in UK        Rupee slips 17 paise to 71.72 vs USD in early trade        US seeking balancing act in South Asia over Kashmir: Report        Pro-growth RBI minutes to cap yields; revives expectations for further policy easing        
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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.


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KERALA NEWS
Malayalam actor, film crew stranded in Himachal village
 Thiruvananthapuram: A 30-member film crew from Kerala, including award-winning actress Manju Warrier  
Ex-Deputy Commandant of AR camp held in connection with constable's death
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INTERNATIONAL NEWS
Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi
 Islamabad: Pakistan on Friday said that despite tensions with India, it stands ready to open the Kar
Two Govt hospitals in Pak deny specialised ambulance facility to Sharif
UN, France raise concern over Amazon wildfires 'crisis'
US seeking balancing act in South Asia over Kashmir: Report
NATIONAL NEWS
INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter
 New Delhi: Congress leader and former union finance minister P Chidambaram was on Friday granted pro
Always said demonising Modi wrong: Singhvi
Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion
FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials
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