Amid speculations about Modi Government breaking the tradition, Union Finance Ministry on Wednesday clarified that this budget will be ‘Interim Budget 2019-20’, putting an end on rumours about Centre planning to table full-fledged Budget ahead of General elections 2019.
Finance Ministry clarifies that this budget will be 'Interim Budget 2019-20'. pic.twitter.com/jr3mQhlGQ7
— ANI (@ANI) January 30, 2019
The Provisional Calendar, available on the Lok Sabha website has also categorically mentioned the event as the ‘Interim Budget’.
The upcoming Budget Session will be the last session of the current Lok Sabha as the general elections 2019 is slated after which. The budget session which usually happens in two phases is likely to be held in a single phase due to the general elections.
President Ram Nath Kovind will address the joint sitting of the two houses – Lok Sabha and Rajya Sabha – on January 31 and the Economic Survey may also be tabled on the same day, sources revealed.
The budget session of Parliament will be held from January 31 to February 13, 2019, and an interim budget will be tabled on Feb 1, stated the Provisional Calendar available on the Lok Sabha website.
Interim Budget is quite similar to the full-year budget as it outlines the financial statement of that particular year. However, an interim budget needs approval for essential government spending for a limited period in an election year and a full-fledged budget presented by the new government.
Amidst speculations about Centre planning to table the full-fledged Budget, Congress, earlier has cautioned the move to break the traditions. While Bhartiya Janta Party, on its part, will try to lure its voter base and expected to announce the sops ahead of general elections 2019.
Earlier on January 24, in the absence of Union Finance Minister Arun Jaitley, Piyush Goyal has been given an interim Charge of the Finance Ministry. However, there is no official confirmation about who will table the Budget but it is expected that Piyush Goyal will introduce the Budget 2019.
This is the second time when Goyal was given an additional charge. Earlier Goyal was earlier given additional charge of the Finance Ministry in May 2018 for a period of three months when Jaitley underwent a kidney transplant at the All India Institute of Medical Sciences (AIIMS).
Jaitley, reportedly, has undergone surgery at a hospital in New York on January 22. He has been advised at least two weeks rest by the doctors.