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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]

India News

Rahul Gandhi returns from US to attend CWC meeting after Pahalgam terror attack

Rahul Gandhi returned to New Delhi early Thursday, cutting short his US trip following the deadly Pahalgam terror attack. He is set to attend the Congress Working Committee meeting amid heightened political and security activity.

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Rahul Gandhi

Congress MP and Leader of Opposition in Lok Sabha, Rahul Gandhi, arrived in New Delhi early Thursday morning, having cut short his official visit to the United States. His return comes in response to the recent deadly terrorist attack in Jammu and Kashmir’s Pahalgam, which claimed 26 lives, including one foreign national.

Gandhi is scheduled to participate in the Congress Working Committee (CWC) meeting at the party headquarters in New Delhi at around 10:30 am. Congress General Secretary Jairam Ramesh had earlier announced the change in Rahul Gandhi’s itinerary due to the grave security situation in the Kashmir Valley.

The government is reportedly preparing for an all-party meeting on Thursday, likely to be chaired by Defence Minister Rajnath Singh, to deliberate on the national security response to the attack. The attack, which occurred at Baisaran meadow in Pahalgam, is being described as the most severe since the 2019 Pulwama incident.

Centre responds with strong diplomatic and security measures

In the wake of the violence, the Indian government has initiated a series of stringent actions aimed at sending a message to Pakistan, which it holds responsible for supporting cross-border terrorism. Among the measures announced are the suspension of the Indus Waters Treaty of 1960 and the immediate closure of the Attari integrated checkpost.

Additionally, Foreign Secretary Vikram Misri declared that Pakistani nationals will no longer be allowed to travel to India under the SAARC visa exemption framework. These announcements came after a high-level Cabinet Committee on Security (CCS) meeting chaired by Prime Minister Narendra Modi on Wednesday. The CCS condemned the attack unequivocally, expressing deep sorrow for the victims and stressing the need for swift action.

Victims’ families demand justice

Emotions ran high across the country as families performed last rites for the victims. Among those killed was Indian Navy Lieutenant Vinay Narwal, whose funeral was held in Karnal. Another victim, Manjunath Rao from Shivamogga, was remembered by family and friends who called for firm government action against terrorism.

This latest incident has reignited national concerns around security in Jammu and Kashmir, especially given its scale and the timing following the revocation of Article 370 in 2019.

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Stalin reminds PM Modi’s statements as Gujarat CM after his crying for funds remark

During the event, Stalin inaugurated over 6,700 completed projects worth ₹1,166 crore in Tiruvallur, laid foundations for 7,300 new initiatives, and distributed welfare benefits to 2.02 lakh residents.

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Tamil Nadu Chief Minister M.K. Stalin on Friday took aim at Prime Minister Narendra Modi during a government event in Ponneri, Tiruvallur district, invoking Modi’s own words as Gujarat’s Chief Minister to counter recent remarks about Tamil Nadu’s demands for funds.

Addressing a gathering, Stalin refuted Modi’s claim from a Rameswaram visit that Tamil Nadu leaders were “crying” for central funds regardless of allocations.

“With utmost respect, I remind the Prime Minister of his own stance as Gujarat CM, when he said states aren’t beggars pleading for Union handouts,” Stalin said.

He recalled Modi’s criticism of the Centre’s partisan fund allocations and accusations of Governors running “parallel governments” in opposition-ruled states. “When Tamil Nadu seeks its rightful share, how is it ‘crying’? I’m asserting our state’s rights, not groveling. I learned this from our leader Kalaignar [Karunanidhi],” Stalin asserted.

Minister S.M. Nasar, MPs S. Jagathrakshakan and Sasikanth Senthil, legislators T.J. Govindarajan, Durai Chandrasekar, S. Chandran, V.G. Raajendran, A. Krishnaswamy, K. Ganapathy, S. Sudharsanam, Collector M. Prathap, and senior officials attended the event.

Stalin also challenged Shah’s recent Chennai statement that Tamil Nadu’s demands were “diversionary tactics.” He posed pointed questions to Union Home Minister Amit Shah, “Can you exempt Tamil Nadu from NEET? Guarantee no Hindi imposition? Ensure our representation isn’t reduced post-delimitation? Specify the funds allocated to our state?”

Stalin emphasised that Tamil Nadu’s fight is for all states’ rights, citing the DMK’s landmark Supreme Court victory against Governor R.N. Ravi’s delay in approving Bills. “This historic ruling shows we act when the Centre fails,” he said.

Highlighting national awareness of Tamil Nadu’s struggle, Stalin dismissed Shah’s accusations of diversion, urging, “If our demands are distractions, why haven’t you addressed them clearly?” He underscored the state’s resolve to protect its interests, rooted in principles of federalism and justice championed by DMK’s legacy.

During the event, Stalin inaugurated over 6,700 completed projects worth ₹1,166 crore in Tiruvallur, laid foundations for 7,300 new initiatives, and distributed welfare benefits to 2.02 lakh residents.

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Priyanka Gandhi accompanies Robert Vadra to ED office for second day in Gurugram land probe

Robert Vadra, husband of Congress MP Priyanka Gandhi, appeared before the ED for the second day in the Gurugram land case.

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Robert Vadra Priyanka Gandhi

Congress MP Priyanka Gandhi Vadra accompanied her husband Robert Vadra to the Enforcement Directorate (ED) office on Wednesday as he appeared for questioning for the second consecutive day in connection with the Gurugram land case.

Mr Vadra, the brother-in-law of Lok Sabha Leader of Opposition Rahul Gandhi, was seen exchanging a hug with Ms Gandhi before entering the ED office. He is under scrutiny in a money laundering probe linked to a 2008 land deal in Manesar-Shikohpur area, now known as Sector 83 of Gurugram.

Focus of the probe: land deal from Congress tenure in Haryana

The investigation stems from a land transaction executed by Skylight Hospitality Pvt Ltd, a company in which Mr Vadra was formerly a director. In February 2008, Skylight purchased 3.5 acres of land from Onkareshwar Properties for ₹7.5 crore. At that time, Haryana was governed by a Congress-led administration under then Chief Minister Bhupinder Singh Hooda.

In September 2012, four years after the acquisition, Skylight sold the same land to real estate developer DLF for ₹58 crore. The deal later drew public attention after senior IAS officer Ashok Khemka, who was then heading the Land Consolidation and Land Records department in Haryana, cancelled the land mutation, citing violations of the State Consolidation Act and procedural discrepancies.

Haryana Police registered an FIR to examine the deal in 2018, further intensifying the legal scrutiny.

ED questions Vadra under PMLA

On Tuesday, Mr Vadra was questioned for nearly five hours by the ED under the Prevention of Money Laundering Act (PMLA), during which his statement was recorded. The businessman has consistently maintained that the case is part of a political vendetta and emphasized that he has cooperated fully with all investigative agencies, submitting numerous documents over the years.

Calling for a closure to what he described as a decades-old matter, Mr Vadra said cases like these should not be allowed to drag on indefinitely.

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