Interim Budget copies reach Parliament

New Delhi: Much-awaited interim budget copies on Friday reached the Parliament.

Finance Minister Piyush Goyal, who examined the final copy of the interim budget document on Thursday evening here, will present the budget in the Lok Sabha at 11 am.

Goyal was appointed interim Finance Minister on January 23 with Arun Jaitley undergoing treatment in the United States.

The Interim Budget, also known as a vote on account, will seek the Parliament’s nod for meeting the expenditure for the first six months of new fiscal—2019-20. A full-fledged Budget will be presented in Parliament once the new Central government is formed after the General Elections, due in March-April.

As per the standard practice, a vote-on-account or approval for essential government spending for a limited period is taken in an election year and a full-fledged budget is presented by the new government. If the budget date falls few months ahead of polls, then an Interim Budget is presented.
The full-fledged budget is expected to be presented in July, which will be preceded by the tabling of the Economic Survey.