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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

Vijay meets Tamil Nadu Governor again as TVK pushes to prove majority

TVK chief Vijay held another meeting with Tamil Nadu Governor Rajendra Vishwanath Arlekar as the party intensified efforts to secure majority support after emerging as the single-largest party in the Assembly elections.

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Actor vijay

Actor-turned-politician Vijay met Tamil Nadu Governor Rajendra Vishwanath Arlekar again on Thursday as his party, Tamilaga Vettri Kazhagam (TVK), continued efforts to prove it has enough support to form the next government in the state.

TVK emerged as the single-largest party in the 234-member Tamil Nadu Assembly after winning 108 seats, but it remains short of the majority mark of 118.

The Congress has extended support to TVK, adding five MLAs to Vijay’s side. However, the alliance still needs additional backing from other parties or independents to comfortably cross the halfway mark.

According to reports, the Governor has not yet been fully convinced that TVK currently has the required numbers to form a stable government. This has delayed clarity over the swearing-in ceremony and the formal invitation to form the government.

Political activity intensified after reports emerged that some AIADMK legislators were moved to a resort in Puducherry amid speculation over possible support to TVK. AIADMK leaders, however, publicly denied any internal crisis.

TVK sources have expressed confidence that the party will be able to demonstrate majority support during discussions with the Governor.

The Tamil Nadu election results marked a major political shift in the state, with TVK breaking the long-standing dominance of the DMK and AIADMK in its first Assembly election contest.

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India News

Congress, BJP attack Bhagwant Mann over remarks on Punjab blasts

Congress and BJP have jointly criticised Punjab CM Bhagwant Mann after he linked recent blasts near defence sites to political motives, triggering a controversy.

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Bhagwant Mann

A political row has erupted in Punjab after Chief Minister Bhagwant Mann linked recent blast incidents to political motives, drawing sharp criticism from both the Congress and the Bharatiya Janata Party (BJP).

The controversy follows two low-intensity explosions reported within a short span of time — one near the Border Security Force (BSF) headquarters in Jalandhar and another close to an army cantonment area in Amritsar. The incidents raised concerns over security, particularly given the sensitive nature of the locations.

In response, Mann suggested that the blasts could be part of a larger political strategy. His remarks triggered a strong backlash, with opposition parties accusing him of politicising a serious security issue.

Leaders from the Congress criticised the Chief Minister’s statement, calling it inappropriate and alleging that such comments undermine the gravity of the situation. They stressed that matters related to national security should be handled with caution and responsibility.

The BJP also joined the criticism, questioning the basis of Mann’s claims and urging the state government to focus on investigation and law enforcement instead of making political allegations.

The developments have led to an unusual moment where both Congress and BJP appear aligned in their criticism of the Aam Aadmi Party-led government in the state.

Meanwhile, the blasts themselves have intensified concerns over safety in border regions, with authorities continuing their investigation into the incidents. No casualties were reported, but the proximity to defence establishments has made the issue particularly sensitive.

The episode has further escalated political tensions in the state, with security and accountability emerging as key points of debate.

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India News

Himanta Biswa Sarma resigns as Assam chief minister, oath ceremony likely after May 11

Himanta Biswa Sarma resigns as Assam Chief Minister after BJP-led NDA’s victory. He will continue as caretaker CM until the new government is sworn in after May 11.

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Himanta sharma

Assam Chief Minister Himanta Biswa Sarma resigned from his post on Wednesday, paving the way for the formation of a new government after the BJP-led NDA secured a decisive victory in the 2026 Assembly elections.

Sarma submitted his resignation to Governor Lakshman Prasad Acharya at Lok Bhawan in Guwahati. The Governor accepted the resignation and asked him to continue as the caretaker Chief Minister until the new government takes charge.

The resignation comes after the NDA’s strong electoral performance, where the alliance won a clear majority in the 126-member Assembly, ensuring its return to power for another term.

Oath ceremony expected after May 11

Speaking to reporters after submitting his resignation, Sarma said the swearing-in ceremony for the new government is likely to be held after May 11.

He indicated that Prime Minister Narendra Modi has been invited to attend the ceremony but is unavailable until May 11, which has influenced the tentative schedule.

Decision on next chief minister soon

Sources suggest that central observers, including senior BJP leaders, are expected to arrive shortly to oversee the selection of the legislature party leader. The newly elected MLAs will then decide on the next Chief Minister.

Despite the formal resignation, party sources indicate that Sarma is likely to continue in the role for another term, given the BJP’s strong mandate in the state.

The move marks the beginning of the government formation process in Assam following the election results declared earlier this week.

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