Budget 2019 Will be Interim Budget, Clarifies Finance Ministry

New Delhi, January 30: The Union Finance Ministry on Wednesday afternoon put an end to all the speculations that the government might present a full budget on February 1. The ministry clarified that this budget would be an 'Interim Budget 2019-20'. Earlier in the day, reports surfaced that the government had ordered Finance Ministry officials to use the term 'Union Budget' and not 'Interim Budget'. Budget 2019: Date, Time, Expectations and Where to Watch Live Streaming of Interim Budget.

Generally, the government presents an Interim Budget and Vote on Account in the year when Lok Sabha Elections are due. The interim budget is usually presented for the period of transition between two governments. After the new government is elected, it presents the new budget for the remaining fiscal year. Budget 2019: Govt Likely to Announce Interest-Free Loans, Premium-Free Insurance for Farmers.

Media reports suggesting that the government would be presenting a full budget before the Lok Saha election drew flak from the opposition. Congress leader Manish Tewari had termed the reported move as a “blatant violation of Constitutional propriety”. Meanwhile, former Finance Minister and BJP Leader Yashwant Sinha had earlier said that the NDA government cannot present an economic survey, bring a Finance Bill or introduce new services during in the interim budget and that doing so will be unconstitutional.

Budget 2019 will be presented in Parliament on February 1. Interim Finance Minister Piyush Goyal is likely to present the budget in Parliament as Ailing Finance Minister Arun Jaitley is still in the US for treatment.

(The above story first appeared on LatestLY on Jan 30, 2019 02:52 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).