Union Budget 2019 Session Likely to Start from January 31 to February 13: Finance Minister Arun Jaitley is likely to present an interim budget on February 1 and the budget session is expected to be held from January 31 to February 13, news agency PTI reported citing government sources. The date for budget session was decided during a meeting of the Cabinet Committee on Parliamentary Affairs (CCPA), the sources also told PTI.
The scheduled session could be the last one for the current Lok Sabha as union elections are due in April-May. Since the government doesn’t table a full-fledged budget in the election year, an interim budget is presented in both Houses of Parliament.
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The central government presents an overview of revenue and expenditure for a financial year (April 1- March 31) through the full-fledged Union Budget. This budget will be the central government’s last opportunity to woo voters as Modi’s government is seeking a second term.
An interim budget is a quite similar to a full-budget. Through interim-budget, the central government presents expenditure for the ongoing fiscal and projections for the upcoming fiscal year. However, traditionally no major announcements are done during the interim budget as a full budget is presented by the newly elected government after Lok Sabha polls.
However, in the interim budget, the central government does lay out its budget estimate, the revised estimate of fiscal deficit.