OVERVIEW OF INTERIM UNION BUDGET 2019
The Interim Union Budget 2019 for the country was presented today. It is an interim Budget as the country will go for general elections in April-May this year. This Budget was incidentally also presented by the Interim Finance Minister of the country Piyush Goyal as the incumbent Minister Arun Jaitley is in the US for medical treatment.
Expectedly, despite being interim the budget was populist, with a former Finance Minister even calling it an “account on votes” rather than a “vote on account” budget. Irrespective, the Budget has taken strong steps to spur consumption through income tax rebates for the middle class and populist schemes for the farmers and marginalized communities in the country – sections which are influential vote banks for political parties in the forthcoming elections. Besides increasing consumption, the measures are also likely to improve the feel-good factor in the economy.
To read the full overview of the Interim Union Budget 2019 click here.