Amidst all the confusion, Finance Minister Arun Jaitley has clarified that the Budget will be an ‘interim budget’. Speculations were on the rise that the Modi government would deviate from conventional norms and present a full budget. However, D.K Joshi, spokesperson of the Finance Ministry confirmed the interim budget of 2019-20.
Since, its an election year, the existing government will present an interim budget or a vote or account. After the Lok Sabha polls, the newly elected government will present a new budget.
Union Cabinet Minister Arun Jaitley has added that what goes into the budget would depend upon the larger interests of the economy.
The central government has announced that Piyush Goyal, the railway minister will be presenting the Union Budget 2019 in Parliament on 1st Feb. Arun Jaitley who still recovering in the US, will not be present.
Buzz is that the budget speech will be over an hour long and there could be some sops for rural and agriculture.
