Chidambaram cautions govt if goes beyond vote on account
New Delhi, Jan 21: Former union finance minister, P Chidambaram said that it would be improper if the government choses to go with anything other than an interim budget. He was reacting to reports that the government could break tradition and go beyond presenting a vote on account on February 1.
In the last year of a government, the convention has been to present a vote on account for about three or four months. It will be improper if the government were to present a full annual financial statement, Chidambaram also said.
He also said that convention did not allow giving benefits that are part of a full budget. The Constitution only speaks about annual financial statement. I think the Constitution has to be understood in the light of an established practice, he also said.
Finance Minister, Arun Jaitley had said that convention has always been that the election year budget is an interim one. The larger interest of the nation will dictate what will be part of that budget, Jaitley said from New York where he is undergoing treatment.