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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]

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Abhishek Banerjee says will not bow to BJP after nearly 11 hours of ED questioning

After spending nearly 11 hours before the Enforcement Directorate, TMC leader Abhishek Banerjee said he would not bow to the BJP and accused the ruling party of using investigative agencies for political purposes.

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Abhishek Banerjee

Trinamool Congress leader and Diamond Harbour MP Abhishek Banerjee on Tuesday said he would not bow to the BJP after spending nearly 11 hours being questioned by the Enforcement Directorate (ED) in connection with an ongoing investigation.

Speaking after the questioning, Banerjee alleged that central agencies were being used to target opposition leaders and asserted that he would continue his political fight despite what he described as sustained pressure.

The TMC leader has repeatedly maintained that investigations involving him are politically motivated, a charge he has made on several previous occasions while appearing before central agencies.

His appearance before the ED comes amid a period of heightened political activity and multiple investigations involving leaders in West Bengal. Recent days have also seen Banerjee face summons and questioning in separate matters by state investigative agencies.

After leaving the ED office, Banerjee reiterated that he would not be intimidated and said he remained committed to his political responsibilities. He also accused the BJP of attempting to weaken opposition parties through investigative action, an allegation that the BJP has rejected in the past.

The Enforcement Directorate has not publicly commented on Banerjee’s remarks. The investigation related to the questioning remains ongoing.

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India News

DMK attacks Rahul Gandhi, accuses him of weakening opposition unity

DMK has intensified its criticism of Rahul Gandhi, alleging that the Congress leader’s actions have weakened opposition unity and strained relations within the INDIA bloc.

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Rahul-Gandhi

The war of words between the DMK and Congress has intensified, with the DMK launching a strong attack on Leader of Opposition Rahul Gandhi and accusing him of contributing to divisions within the opposition alliance. The criticism comes amid strained ties between the two parties following their political split in Tamil Nadu.

According to the DMK, Rahul Gandhi’s political approach has weakened unity among opposition parties. The party’s IT wing mocked the Congress leader on social media, while an editorial published in the DMK’s official mouthpiece Murasoli questioned his recent remarks on opposition solidarity.

DMK questions Rahul Gandhi’s remarks on opposition unity

In its editorial, Murasoli argued that Rahul Gandhi was speaking about opposition unity despite, according to the DMK, contributing to disagreements among alliance partners in several states. The publication cited criticism directed at Congress by various opposition parties and suggested that the party’s actions had often created tensions within the INDIA bloc.

The editorial also referred to past political disputes involving Congress and Left parties, particularly in Kerala, claiming such episodes had raised concerns among opposition allies about Congress’s approach toward its partners.

Tamil Nadu political fallout adds to tensions

The attack comes after a major political realignment in Tamil Nadu. Following the 2026 Assembly elections, Congress ended its alliance with the DMK and joined the government led by Vijay’s Tamilaga Vettri Kazhagam (TVK). The move left the DMK in the opposition and significantly altered the political equation between the two former allies.

The DMK has alleged that Congress benefited from the alliance during the election and later abandoned its partner. The party’s editorial questioned whether assurances from Congress leadership would be trusted by alliance partners after the developments in Tamil Nadu.

Congress rejects allegations

Congress has not issued a detailed official response to the editorial, but party sources have rejected the allegations. According to the party, its decisions in Tamil Nadu were made in line with the mandate delivered by voters and were not intended to undermine either the DMK or the broader opposition alliance.

The latest exchange highlights growing strains between two key opposition parties even as leaders continue to stress cooperation on national issues. Just days earlier, Rahul Gandhi had said that the DMK remained aligned with the opposition on defending the “idea of India” despite political differences.

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Congress, SP send mixed signals on AIMIM’s role ahead of 2027 Uttar Pradesh polls

Congress and Samajwadi Party leaders have responded differently to questions about AIMIM’s role ahead of the 2027 Uttar Pradesh Assembly elections, highlighting ongoing discussions over opposition strategy.

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Differing responses from Congress and Samajwadi Party leaders have highlighted varying approaches within the Opposition camp regarding the possible role of the All India Majlis-e-Ittehadul Muslimeen (AIMIM) in the run-up to the 2027 Uttar Pradesh Assembly elections.

The discussion gained momentum after AIMIM chief Asaduddin Owaisi launched his party’s campaign preparations for the 2027 elections from Bahraich and reiterated that his party is open to alliances, provided it is treated with respect and as an equal partner.

Different responses from Congress and SP

Reacting to questions about a possible understanding with AIMIM, Congress leader Imran Masood said any decision on alliances would be taken by the party leadership. He also stressed that there could be no compromise with communalism.

On the other hand, Samajwadi Party leader Ram Gopal Yadav adopted a more accommodating tone, stating that anyone capable of defeating the BJP would be welcome. His remarks were viewed as leaving the door open to broader anti-BJP political cooperation.

The differing responses have drawn attention as Opposition parties continue to assess their electoral strategies ahead of the 2027 Uttar Pradesh Assembly elections.

AIMIM steps up preparations

AIMIM has begun expanding its campaign activity in Uttar Pradesh, with Owaisi launching the party’s preparations from Bahraich. The Hyderabad MP has indicated that AIMIM is willing to consider alliances but has maintained that any partnership must be based on mutual respect and equality.

The party is also working to strengthen its organisational presence in the state as it seeks a larger role in Uttar Pradesh politics ahead of the next Assembly election.

No formal alliance announced

Despite the ongoing discussion, no formal alliance or seat-sharing arrangement involving AIMIM and major Opposition parties has been announced so far.

With more than a year remaining before the 2027 Uttar Pradesh Assembly elections, political equations are expected to evolve as parties finalise their strategies and alliance plans.

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