Putting the speculations about the kind of budget the union government will be presenting, today the Finance Ministry clarified that it will be ‘Interim Budget 2019-2020’. The ministry has issued a one-line clarification saying, “This Budget will be called Interim Budget 2019-20 and therefore, don’t have any confusion on this issue.”
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For the last several weeks, there was intense speculation in media that the Modi government will be presenting a full budget instead of an interim budget. In an election year, the government presents an interim budget, or a vote on account, for the remaining term of the government, and the new government after the election presents a full budget for the remaining term of the financial year. Therefore, the reports of a full budget had created a controversy.
The reports that government is considering a full budget is being circulated by media for the last several weeks. Even earlier today, certain media houses had reported that Modi government will present a full budget.
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Reacting to media reports, the Congress party had attacked the government for planning to present full budget. It had said that the NDA-BJP government does not have the electoral mandate and legitimacy to present six full budgets in five years.
But all those media reports have proved to false after the clarification from ministry today. It is also important to note that while media was spreading the news about a full budget, the provisional calendar published by Lok Sabha had listed the budget as Interim Budget, which will be presented at 11 AM on February 1.
The invitation sent by the ministry to media for a photoshoot with the finance minister ahead of the budget presentation also lists is as interim budget.
Due to the ongoing treatment of Finance Minister Arun Jaitley, the interim budget will be presented by Railway Minister Piyush Goyal on February 1, who was given the additional charge of Finance Ministry.