Full-Fledged Union Budget 2019 to Be Presented by Narendra Modi Government on Feb 1 Instead of Interim Budget?

Mumbai, January 30: Breaking yet another convention, the Narendra Modi government is set to present a full-fledged Union Budget 2019-2020 instead of an Interim Budget on Friday, February 1. According to reports, the government has also ordered Finance Ministry officials to use the term 'Union Budget' and not 'Interim Budget'. The general convention requires the government to present an Interim Budget and Vote on Account in the year when Lok Sabha Elections are due. However, the Central government seems to have made a big move ahead of Lok Sabha Elections 2019. Budget 2019 Expectations: Hike In Tax Exemption Limit, Sops For Farmers; Here's What's On Cards For Interim Budget on February 1.

An 'interim' budget usually avoids committing spending for an entire financial year ahead of elections. It is presented in order to pass on lesser commitments of spending to the next incoming government. However, many in the BJP have reportedly said that while presenting a full-fledged Union Budget before General Elections is not the convention, but it is not illegal. Budget 2019: As Middle-Class Eyes Sops, A Look at Current Tax Slabs & Rates.

A Union Budget, experts feel, would pave way for the ruling Bharatiya Janata Party (BJP) to announce several populist schemes, policies, sops and freebies, which it would otherwise not be able to announce when the Model Code of Conduct comes into place after poll dates are announced in March.

The Opposition is seeing red and has attacked the government over the reported move. Opposition leaders say that the Modi government cannot announce a full Budget as it does not have the mandate for 2020.

Former finance minister 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. “Those who say there is no rule against presenting a full budget, why do we have Article 116 in the constitution then," Sinha questioned.

Budget 2019 will be presented in Parliament on February 1. While there is still confusion over who will present the Union Budget, reports say that it may finally be Interim Finance Minister Piyush Goyal. Ailing Finance Minister Arun Jaitley is in the US for treatment.

(The above story first appeared on LatestLY on Jan 30, 2019 12:58 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).