Budget 2019: FinMin denies reports of full budget, says it will be called ‘interim’ budget

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New Delhi | Updated: January 30, 2019 1:26:24 PM

Budget 2019 date India: Traditionally, in the election year, the outgoing government presents an interim Budget or a vote-on-account.

budget 2019 expectationsBudget 2019 expectations

Budget 2019: Minutes after media reports said that the Modi government is planning to present full-budget, deviating from the convention, the Finance Ministry issued a clarification that the budget will be called ‘Interim Budget’.

“The Budget will be called Interim Budget 2019-20 and therefore, (we) don’t have any confusion on this issue,” DK Joshi, Official Spokesperson of Finance Ministry said.

Speculations were rife on whether the budget would be full-budget or an interim one. Traditionally, in the election year, the outgoing government presents an interim Budget or a vote-on-account. After the Lok Sabha polls, the newly-elected government presents a full-budget.

Last week, however, Union Cabinet Minister Arun Jaitley, who is recuperating in the US, told media that what goes into the Budget would depend upon the larger interests in the economy.

Read Also: Budget 2019 India- What is interim Budget? How is it different from General Budget and vote-on-account?

The central government last week announced that Railway Minister Piyush Goyal has been entrusted with the responsibility of presenting the Union Budget 2019 in Parliament on February 1 in the absence of Arun Jaitley.

Do you know What is Fiscal Policy, Section 80C of Income Tax Act 1961, Expenditure Budget, Customs Duty, Receipt Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

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