English हिन्दी
Connect with us

Latest Politics News

Things You Should Know About Interim Budget 2019

Published

on

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]

India News

Rahul Gandhi, Rajnath Singh clash in Lok Sabha over ex-Army chief’s unpublished book on Ladakh

Lok Sabha proceedings were disrupted after Rahul Gandhi cited an unpublished book by former Army chief General MM Naravane on the Ladakh stand-off, drawing objections from Rajnath Singh and other BJP leaders.

Published

on

Rahul Gandhi

A sharp confrontation unfolded in the Lok Sabha on Monday after Leader of Opposition Rahul Gandhi referred to an unpublished book by former Army chief General MM Naravane while speaking on the 2020 India-China Ladakh stand-off, prompting strong objections from treasury benches.

Rahul Gandhi began his address by holding a printout of a magazine article that carried an essay on General Naravane’s yet-to-be-published memoir, Four Stars of Destiny. The reference immediately drew an intervention from Defence Minister Rajnath Singh, who objected to the citation, saying quoting an unpublished book violated parliamentary rules.

Objections from treasury benches

Rajnath Singh demanded that the Leader of Opposition place the book before the House, arguing that since the memoir had not been formally published, its contents could not be cited during proceedings. The objection was echoed by Home Minister Amit Shah, who questioned how references could be made to material that was not publicly available.

Parliamentary Affairs Minister Kiren Rijiju went a step further, suggesting that the House should deliberate on action against members who do not comply with the Speaker’s rulings.

As Rahul Gandhi persisted, repeatedly referring to “Chinese tanks” while discussing the eastern Ladakh situation, the opposition from BJP members intensified, leading to sustained disruptions.

Opposition support and continued disruptions

Samajwadi Party chief Akhilesh Yadav backed Rahul Gandhi, stating that issues concerning China were sensitive and that the Leader of Opposition should be allowed to present his views in the House.

Responding to the objections, Rahul Gandhi questioned the resistance to his remarks, asking what in the book was causing such concern. He maintained that both the article and the contents he was quoting were “100 per cent authentic.”

The Congress leader also said he had not intended to raise the issue but felt compelled to do so after BJP MP Tejasvi Surya questioned the patriotism of the Congress and its leadership.

Government, Congress trade charges

Government sources accused Rahul Gandhi of setting a dangerous precedent by citing material from an unpublished book, alleging that such references could be misused to make unverified claims on the floor of Parliament.

Congress MP Priyanka Gandhi defended her brother, saying he was not attempting to defame the Army and was merely reading an excerpt attributed to the former Army chief. She accused the ruling party of resisting discussion whenever uncomfortable issues surfaced.

House adjourned amid chaos

The repeated interruptions forced Lok Sabha Speaker Om Birla to adjourn the House till 3 pm. When proceedings resumed, similar scenes played out as Rahul Gandhi again attempted to speak on the subject, leading to further disruptions and another adjournment.

Continue Reading

India News

P Chidambaram avoids commenting on Trump’s dead economy remark echoed by Rahul Gandhi

Chidambaram stays silent on Trump’s ‘dead economy’ remark echoed by Rahul Gandhi as Congress critiques Union Budget 2026.

Published

on

P Chidambaram

Finance Minister Nirmala Sitharaman on Sunday presented her ninth consecutive union budget, stopping just short of Morarji Desai’s record of ten.

Congress MP P Chidambaram, however, avoided commenting on the ‘India is a dead economy’ statement made by former US President Donald Trump last July, which was later echoed by Rahul Gandhi.

Speaking to reporters after reviewing the budget, Chidambaram said he could not respond as he lacked the full context of Trump’s original remarks.

The comment by Trump followed India’s continued purchase of Russian crude oil, which the US had criticized as indirectly funding military action in Ukraine. Trump imposed a 25 per cent penalty tariff on Indian imports and added: “I don’t care what India does with Russia. They can take their dead economies down together, for all I care.”

Rahul Gandhi later supported the statement, saying, “He is right, everybody knows this except the Prime Minister and Finance Minister. I am glad President Trump stated a fact…”

The remark sparked a political debate, with BJP leaders criticizing Gandhi, while some Congress members, including Rajya Sabha MP Rajiv Shukla, called the statement “completely wrong.”

Ahead of the budget, Gandhi had highlighted the impact of US tariffs on small textile businesses, noting on X: “50 per cent US tariffs are badly hurting textile exporters. Job losses, shutdowns… are reality of our ‘dead economy’.”

The debate gained traction following the budget announcement, which did not offer immediate relief to middle-class taxpayers and saw markets react sharply, with the Sensex closing 1,500 points lower on Sunday.

Chidambaram, as usual, led Congress’ critique of the budget, pointing to a decrease in capital expenditure as a percentage of GDP from 3.2 per cent in FY25 to 3.1 per cent, despite the proposal of Rs 12.2 lakh crore for capex. He added, “Revenue receipts short by Rs 78,086 crore… total expenditure short by Rs 1,00,503 crore… revenue expenditure short by Rs 75,168 crore… capex was cut by Rs 1,44,376 crore… not a word was said to explain this…”

Rahul Gandhi echoed the criticism, highlighting issues such as unemployment, farmers’ distress, declining household savings, and low investment. “A budget that refuses course correction and is blind to India’s real crises,” he said on X.

Responding to the criticism, Finance Minister Sitharaman said, “With due respects, I don’t know what course correction he is referring to. The economy and its fundamentals are strong.”

Continue Reading

India News

Sharad Pawar reacts to Sunetra Pawar’s deputy chief minister appointment

Sharad Pawar clarifies that NCP did not inform the family before naming Sunetra Pawar as Maharashtra deputy chief minister.

Published

on

Sharad Pawar

Sunetra Pawar, the wife of Maharashtra Deputy Chief Minister Ajit Pawar, is set to take on a prominent role following her husband’s tragic death in a plane crash on Wednesday morning. The decision to appoint her as Deputy Chief Minister was made solely by the Nationalist Congress Party (NCP), and Sharad Pawar, Ajit Pawar’s uncle and NCP-SP chief, revealed that the family was not consulted.

Addressing the media in Baramati, Sharad Pawar stated, “I don’t know,” when asked about being involved in the decision-making process for Ajit Pawar’s successor. He further clarified that he learned about the planned oath ceremony on Saturday evening through news reports. “We don’t know about the swearing-in. We got to know about it through the news. I have no idea about the swearing-in,” he added.

Sharad Pawar’s remarks underscore a clear separation between family matters and political decisions. The development comes after the NCP experienced a split in 2023, when Ajit Pawar broke away from his uncle’s faction to establish his own political path within Maharashtra.

This appointment positions Sunetra Pawar to carry forward her late husband’s political legacy, even as senior party leaders maintain a cautious distance from the process.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com