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Things You Should Know About Interim Budget 2019

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Piyush Goyal

[vc_row][vc_column][vc_column_text]The BJP-led National Democratic Alliance government will present its last budget on February 1 before the upcoming Lok Sabha elections, which will be held in April-May this year.

The Union Finance Ministry has called it an interim budget but some of the media reports have speculated that the Government may present a full budget.

Union Minister Piyush Goyal has been temporarily given charge of the finance ministry in view of Arun Jaitley’s indisposition, will present the  interim budget.

What is an interim budget?

An interim budget is the budget of a government that is going through a period of transition.

It is quite similar to a full-budget as the government presents expenditure for the ongoing fiscal and projections for the upcoming fiscal year through it.

An interim budget is a complete set of accounts, including both expenditure and receipts, and gives the complete financial statement.

The Union government can introduce tax changes but during an election year, successive governments have avoided making any major changes in income tax laws during an interim budget.

When an interim budget presented?

An interim budget is presented by a government if it does not have the time for a full Budget or because the general elections are to be conducted shortly. So traditionally, in an election year, the outgoing government presents an interim budget. The task of framing the full budget is left to the incoming government.

Why an interim budget presented?

Governments require Interim Budgets to function during the time it takes for a new government to create its own fiscal plan. The budget for the year approved by Parliament gives the government spending rights only till March 31, the end of the financial year.

The government needs parliamentary authority for incurring expenditure in the new fiscal year until a full Budget in case it is not able to present one before the financial year ends.

Parliament passes a vote-on-account through the Interim Budget, which allows the government to meet the expenses of the administration such as paying the salaries and for its programmes.

This is until the new Parliament considers and passes the Budget for the whole year. In an election situation, the vote-on-account is usually for a four-month period.

 How is interim budget different from regular budget?

In an interim budget, the vote-on-account seeks Parliament’s nod for incurring expenditure for part of a fiscal year. The estimates are presented for the entire year, as is the case with the regular Budget. The new government has the full freedom to change the estimates completely when the final Budget is presented.[/vc_column_text][/vc_column][/vc_row]

Latest Politics News

Delhi CM Atishi accuses BJP’s Parvesh Verma of distributing cash to voters in Kejriwal’s constituency

Kejriwal also hinted that the BJP might declare Parvesh Verma as their chief ministerial candidate, questioning whether the people of Delhi would want such a leader.

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Delhi Chief Minister Atishi on Wednesday accused BJP leader Parvesh Verma of handing out cash to women in New Delhi, the constituency represented by Aam Aadmi Party (AAP) convenor Arvind Kejriwal.

During a press conference, Atishi claimed that Rs 1,100 was distributed to women from slum areas at Verma’s residence in Windsor Place, with their voter ID details being recorded. She stated, “The BJP is distributing money and checking voter cards in the New Delhi assembly constituency, where Arvind Kejriwal is a candidate.

Today, Parvesh Verma was caught red-handed giving out money at his official residence, money he received as an MP. Women from various slums in the New Delhi area were called there and handed Rs 1,100 in an envelope,” ANI reported her as saying.

Earlier in the day, Kejriwal had alleged that women voters in his constituency were being paid Rs 1,100 for their votes. “I have just returned from several areas in my New Delhi Vidhan Sabha constituency, and everywhere I went, people told me that these individuals are openly buying votes, paying Rs 1,100 for each vote. People said they would take the money but wouldn’t vote for them,” he posted on X.

Kejriwal also hinted that the BJP might declare Parvesh Verma as their chief ministerial candidate, questioning whether the people of Delhi would want such a leader.

In response to the accusations, Parvesh Verma stated that the money was distributed as part of a campaign by ‘Rashtriya Swabhiman’, an NGO founded by his late father, former Delhi Chief Minister Sahib Singh Verma.

“I see the struggles faced by women that Arvind Kejriwal has ignored for 11 years. They have been suffering, so I decided to support them with Rs 1,100 per month. Unlike Arvind Kejriwal, I am not distributing liquor; I am glad to be able to help people,” he said.

Verma added that the Rashtriya Swabhiman has been actively involved in community support, including redevelopment efforts in villages affected by disasters. Elections for the 70-member Delhi Assembly are scheduled for February next year.

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Latest Politics News

Yogi Adityanath says Congress insulting Ambedkar since Nehru days

Adityanath pointed to examples of Congress’ alleged negligence, including its initial hesitance to include Ambedkar in the Constituent Assembly and the Drafting Committee, crediting Mahatma Gandhi for securing Ambedkar’s position.

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Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday hit out at the Congress, accusing it of disrespecting B.R. Ambedkar, the principal architect of the Indian Constitution, both during his life and after his death.

During a press conference held at his official residence at 5 Kalidas Marg, he also claimed that Jawaharlal Nehru, India’s first Prime Minister, opposed Ambedkar’s inclusion in the Constitution Drafting Committee.

Adityanath’s comments came in the wake of a controversy sparked by Union Home Minister Amit Shah’s remarks about Ambedkar in the Rajya Sabha last week. Surrounded by ministers Swatantra Dev Singh and Asim Arun, the Chief Minister emphasised that the purpose of the press conference was to reveal what he called the unethical and unconstitutional actions of Congress and other opposition parties against Ambedkar.

“Dr. B.R. Ambedkar played a pivotal role in India’s freedom struggle, the formulation of the Constitution, and the foundational years of an independent India. Despite facing numerous societal challenges, he achieved the highest accolades in law, finance, and economics. His contributions to the nation are unmatched, and he is deeply revered by every Indian,” Adityanath stated.

He contrasted the Bharatiya Janata Party’s (BJP) respect for Ambedkar with the Congress party’s history of disrespect. Adityanath highlighted the BJP’s initiatives to honor Ambedkar’s legacy, including memorials in significant locations like Mhow, Nagpur, Mumbai, and London, where Ambedkar pursued his studies.

“Under BJP leadership, from Atal Bihari Vajpayee’s time to Prime Minister Narendra Modi’s tenure, we have made every effort to uphold Ambedkar’s ideals. In stark contrast, the Congress has consistently insulted him and minimised his contributions,” he asserted.

Adityanath pointed to examples of Congress’ alleged negligence, including its initial hesitance to include Ambedkar in the Constituent Assembly and the Drafting Committee, crediting Mahatma Gandhi for securing Ambedkar’s position.

He also recalled an incident during the UPA regime when a textbook depicted a derogatory cartoon of Ambedkar being prodded by Nehru, which was withdrawn only after widespread protests, leading to an apology from then HRD Minister Kapil Sibal.

The Chief Minister claimed that the Congress worked to defeat Ambedkar in elections, including the 1952 general elections for the Mumbai North constituency and the 1954 by-elections.

He alleged that even Nehru campaigned against Ambedkar to ensure his loss, asserting that the Congress consistently aimed to silence the voices of Dalits and marginalized communities.

Adityanath also criticised the Congress for not granting national honors to Ambedkar during his lifetime, stating, “It was only when a government supported by the BJP came to power that Ambedkar was finally awarded the Bharat Ratna.”

He further emphasised the BJP’s commitment to realizing Ambedkar’s vision through programs aimed at benefiting Dalits and marginalized groups, reiterating the party’s dedication to preserving Ambedkar’s legacy while accusing the Congress of ongoing disrespect and divisive politics.

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Government set to table One Nation, One Election bill in Lok Sabha on December 16

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Parliament Winter Session: Lok Sabha speaker warns opposition, No-Confidence motion against Rajya Sabha Chairman

The stage is set for a major legislative push by the central government as two bills related to the ambitious “One Nation, One Election” initiative are scheduled for introduction in the Lok Sabha on Monday, December 16.

Union Law Minister Arjun Ram Meghwal is expected to present The Constitution (129th Amendment) Bill and The Union Territories Laws (Amendment) Bill, marking a significant step towards implementing simultaneous Lok Sabha and state legislative assembly elections.

On Thursday, the Union Cabinet, chaired by Prime Minister Narendra Modi, gave its nod to the constitutional amendment bill that seeks to align elections for the Lok Sabha and state assemblies. This decision underscores the ruling Bharatiya Janata Party’s commitment to its long-standing agenda of electoral synchronization, aimed at reducing the frequency of polls and associated costs.

The Cabinet also approved a supplementary bill to amend specific provisions related to three Union territories with legislative assemblies—Delhi, Puducherry, and Jammu & Kashmir. This aligns their governance framework with the overarching constitutional amendments proposed under the “One Nation, One Election” initiative.

The constitutional amendment bill aims to streamline the electoral calendar by establishing a legal framework for conducting Lok Sabha and state assembly elections simultaneously. However, the government has, for now, opted to exclude local body polls, such as those for municipalities and panchayats, from this framework. A high-level committee chaired by former President Ram Nath Kovind had earlier suggested a phased approach to include local elections in the future.

The concept of “One Nation, One Election” has been a focal point in political discourse, with proponents arguing it will enhance governance by reducing electoral disruptions and fostering policy stability. Critics, however, have raised concerns about the logistical and constitutional challenges of synchronizing diverse electoral cycles across India’s federal structure.

This legislative development will undoubtedly dominate parliamentary discussions as political parties prepare to deliberate on the feasibility and implications of reshaping India’s electoral landscape.

The introduction of these bills is expected to spark robust debate, with the government emphasizing the potential benefits of reduced administrative burdens and streamlined governance, while opposition parties scrutinize its impact on India’s democratic fabric.

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