 "What is Interim Budget?")
Interim Budget
What is Interim Budget?
An Interim Budget is presented by a government that is going through a transition period or is in its last year in office ahead of general elections. Traditionally, an incumbent government cannot present a full Union Budget in the election year. Instead, the Finance Minister presents an Interim Budget during the joint sitting of Rajya Sabha and Lok Sabha in Parliament.
With an Interim Budget, the incumbent government seeks a vote of approval from Parliament to draw money from the Consolidated Fund of India to meet its Budget expenses before the end of the financial year; that is, March...
Read More
Latest Updates on Interim Budget
Budget: Initiative to boost lab-grown diamond sector cheers Surat industry
The Union government has announced a package for Research and Development for five years, which will give a jump to lab-grown diamonds
 "Budget: Initiative to boost lab-grown diamond sector cheers Surat industry")
Budget 2023: Govt likely to avoid populist measures; tax tweaks possible
FM Sitharaman is unlikely to tinker much with tax rates, yet will also steer clear of populist measures, according to economists surveyed
 "Budget 2023: Govt likely to avoid populist measures; tax tweaks possible")
Abolish exemptions
Instead of reducing tax rates, Budget 2023 should take steps to reverse the decline in tax buoyancy
 "Abolish exemptions")
The process involved in preparing the Union Budget: An explainer
All of this culminates on February 1, when the Cabinet approves the budget, the Finance Minister presents it to the President, then proceeds to Lok Sabha, where she rises at 11 am to begin her speech
 "The process involved in preparing the Union Budget: An explainer")
A different election Budget
We must also acknowledge a certain middle class approach this government takes to managing the economy
Union Budget 2022-23: Phasing out of some tax exemptions likely
FinMin also exploring the option of rationalising capital gains tax rates
 "Union Budget 2022-23: Phasing out of some tax exemptions likely")
Budget 2022-23: Govt likely to target 13-14% nominal growth in FY23
A faster growth projection may cause inflation concerns, say officials
 "Budget 2022-23: Govt likely to target 13-14% nominal growth in FY23")
Budget 2020: Govt may consider tax sops, easier norms to boost investments
Revenue projections may be realistic this time
 "Budget 2020: Govt may consider tax sops, easier norms to boost investments")
Opposition says govt trying to bulldoze Finance Bill without discussion
CPI(M) accused the government of engineering "scripted disruptions through its allies, both estranged and prospective"
 "Opposition says govt trying to bulldoze Finance Bill without discussion")
LS passes Finance Bill 2018; unlisted stocks to get indexation benefits
Finance Bill passed by Lok Sabha without debate; relief for start-ups, PPF holders
 "LS passes Finance Bill 2018; unlisted stocks to get indexation benefits")
News Digest: Patel slams govt, Finance Bill passed in Lok Sabha, and more
The Lok Sabha on Wednesday passed the Finance Bill 2018, allowing the benefit of inflation adjustments to stocks that were unlisted till January 31 while levying long-term capital gains (LTCG) tax.
 "News Digest: Patel slams govt, Finance Bill passed in Lok Sabha, and more")
Lok Sabha clears Finance Bill; FM says tax proposals aimed at helping poor
Goyal also took a swipe at the Congress, saying unlike the previous UPA dispensation, the Modi government in its interim Budget did not reduce levies on SUVs, which are used by the rich
 "Lok Sabha clears Finance Bill; FM says tax proposals aimed at helping poor")
Rajya Sabha passes Interim Budget, Finance Bill 2019-20 without debate
Rajya Sabha Chairman M Venkaiah Naidu put the bills to vote, which were approved by voice vote and returned to the Lok Sabha
 "Rajya Sabha passes Interim Budget, Finance Bill 2019-20 without debate")
Govt could pass Finance, Fugitive Economic Offenders bills amid din
J&K CM Mehbooba sacks finance minister Haseeb Drabu, Naresh Agrawal joins BJP
 "Govt could pass Finance, Fugitive Economic Offenders bills amid din")
Amid Opposition protests, Budget passed in Lok Sabha without discussion
With the passage of the Finance Bill and the Appropriation Bill, the budget exercise is complete in the lower house
 "Amid Opposition protests, Budget passed in Lok Sabha without discussion")
LTCG relief: Govt extends indexation benefit to investors of unlisted firms
The finance ministry had received various representations demanding removal of LTCG tax
 "LTCG relief: Govt extends indexation benefit to investors of unlisted firms")
In 30 minutes Lok Sabha clears Finance bill, 218 amendments without debate
The bills were the contentious Finance Bill, 2018, and the Appropriation Bill, 2018
 "In 30 minutes Lok Sabha clears Finance bill, 218 amendments without debate")
Interim Budget 2019: Those in lower income tax brackets to benefit more
The finance minister has proposed a rebate for those who have a taxable income of up to Rs 5 lakh
 "Interim Budget 2019: Those in lower income tax brackets to benefit more")
Greater slippage likely to raise questions over fiscal arithmetic for FY20
The interim Budget pegs collections from CGST for the full year at Rs 5.04 trillion
 "Greater slippage likely to raise questions over fiscal arithmetic for FY20")
Relaxed taxes on ready inventory may not help realty sector: Analysts
CRISIL Research believes that though the number of unsold inventory remains moderate to high in the metros, the share of ready-to-move properties is small
 "Relaxed taxes on ready inventory may not help realty sector: Analysts")
