Budget 2019: Allocations made in interim budget may be retained
New Delhi, June 05: The Finance ministry has indicated that it will retain the interm budget allocations made to ministries and departments, in the final budget for the current financial year, to present in the Lok Sabha on July 5.
In run-up the Lok Sabha elections, the finance ministry came up with an interim budget in February, authorising government expenditure for a limited period.
With the new government in place now, a full-year budget will be presented by the finance minister Nirmala Sitharaman, on July 5.
Union Budget 2019 on July 5: Job creation to be main focus
In
a
circular,
the
finance
ministry
also
said
it
will
only
consider
additional
allocations
towards
"unavoidable
commitments"
for
which
funds
have
not
been
earmarked
in
the
interim
budget.
"Allocations
projected
in
the
Interim
Budget
2019-20,
will
not
be
altered,"
said
the
finance
ministry
circular.
However, if there are any requirement on account of unavoidable commitments that have not been fully provided for in the February budget, "Ministry/Department may propose the same for consideration for inclusion in the Regular Budget 2019-20, with suitable justification" by Friday, it added.
Sitharaman's budget team comprises Minister of State for Finance Anurag Singh Thakur and Chief Economic Advisor Krishnamurthy Subramanian.
The official team is led by Finance Secretary Subhash Chandra Garg, Expenditure Secretary Girish Chandra Murmu, Revenue Secretary Ajay Bhushan Pandey, DIPAM Secretary Atanu Chakraborty, and Financial Services Secretary Rajiv Kumar.
In her budget, the 59-year-old JNU alumnus, Sitharaman will have to address slowing economy, financial sector troubles like rising NPAs and liquidity crisis in NBFCs, job creation, private investments, exports revival, agrarian crisis and raise public investment without compromising on fiscal prudence.
First Lok Sabha and Rajya Sabha sessions on June 17 and 20
The first session of the newly elected 17th Lok Sabha will be held from June 17 to July 26.
The Economic Survey for 2019-20 will be tabled on July 4, followed by the presentation of the budget on the next day.