 "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...
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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")
Lok Sabha polls 2019: How Modi's PM-KISAN may translate into votes for BJP
The cash dole to farmers without they doing any work will have major economic, political and psychological repercussions
 "Lok Sabha polls 2019: How Modi's PM-KISAN may translate into votes for BJP")
India needs fewer but stronger, mega banks: FM Jaitley after RBI meet
RBI Governor Shaktikanta Das said the central bank will discuss the issue of transmission of rate cut with bank heads
 "India needs fewer but stronger, mega banks: FM Jaitley after RBI meet")
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")
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")
No tax liability if your income is up to Rs 9.5 lakh, but conditions apply
Standard deduction has also been raised from Rs 40,000 to Rs 50,000, besides a host of tax benefits to home buyers
 "No tax liability if your income is up to Rs 9.5 lakh, but conditions apply")
LS passes Interim Budget; allocation for farmers not small, says Goyal
Goyal also refuted the criticism that the government has presented a full Budget in an election year, saying "we have not announced any new scheme for the next year's Budget.
 "LS passes Interim Budget; allocation for farmers not small, says Goyal")
Amid unemployment chorus, Budget claims over 379K new jobs in govt depts
Most of the recruitment was done by the Ministry of Railways, police forces and the direct and indirect tax departments
 "Amid unemployment chorus, Budget claims over 379K new jobs in govt depts")
We presented true figures in Budget, did not make adjustments: Piyush Goyal
Similarly, an adjustment of Rs 1,250 crore would have taken the FY20 fiscal deficit number to 3.3%, says Piysuh
Would have done 100 more things but for interim Budget: Piyush Goyal
Throughout the period, we have taken a series of measures for a better future for farmers, says Goyal
 "Would have done 100 more things but for interim Budget: Piyush Goyal")
No support for govt employees, taxpayers under PM-KISAN scheme for farmers
Announced in the Interim Budget, the scheme is supposed to provide an additional Rs 6,000 per annum income support to small and marginal farmers
 "No support for govt employees, taxpayers under PM-KISAN scheme for farmers")
Student leaders say no talk of jobs in Budget, to march to Parliament
Students under various outfits will march from the historic Red Fort to Parliament on Thursday in protest
Infrastructure woes
Redistributive schemes take their toll on allocation
 "Infrastructure woes")
