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Mon, Oct 14, 2019 | Last Updated 4:40 pm IST

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Will there be an Interim Budget or a Vote on Account on February 1?

Will there be an Interim Budget or a Vote on Account on February 1?
Will there be an Interim Budget or a Vote on Account on February 1?
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Accordingly while the suspense on who will present it has ended with Piyush Goyal again being given additional charge of the Finance Ministry, with general elections round the corner, intense speculation continues about the final shape of the document he will unveil. Meanwhile this speculation is about the nature of the upcoming budget on whether it would be a simple vote on account to be passed by Parliament to permit government expenditure in the transition period or whether Goyal will go beyond that by presenting full estimates of revenue and expenditure as well as policy measures.



Furthermore an incoming government has the freedom to change the estimates in the interim budget when it presents the final budget after taking office, outgoing governments in India have generally followed the convention of avoiding major policy announcements or taxation proposals in the interim budget.

Will there be an Interim Budget or a Vote on Account on February 1?

Moreover with the general elections due in April-May, the government is looking at making available cheap loans and free accidental insurance to small businesses, a segment that bore the brunt of the demonetization of November 2016. Further Economist Nagesh Kumar felt there is a likelihood of higher outlays being proposed on schemes for the rural sector and small businesses, which "is not necessarily a bad thing" because it would boost consumption demand, especially at a time of slowdown in private investment.


Will there be an Interim Budget or a Vote on Account on February 1?
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