Piyush Goyal will present the sixth and final budget of the Narendra Modi-led government on February 1. However, this budget will be an interim one. This year's budget will seek Parliament's nod for spending for four months till a new government is sworn-in. As per agency sources, the budget will contain projections of revenue and expenditure for the entire 2019-20 fiscal that begins on April 1, but it'll be a 'Vote-on-account' - the term used for the interim budget that will seek Parliament's nod for the government's expenditures. The Annual Economic Survey is also likely to be tabled along with the post-election budget.
While Budget 2018's biggest feature was the Ayushman Bharat healthcare 'Modicare' scheme, the 2019 edition is more than likely to entail announcements that more directly impinge on people's incomes.
The two biggest potential announcements being spoken of in the lead-up to Feb 1 deal with the agriculture sector and Income Tax.
Income Tax Slab Expectations: Individual taxpayers are expecting the government to provide some tax reforms which will boost their purchasing power and stress less about the taxes.
Health care: Budget allocation for health is likely to increase by 5 per cent from last year
Interim Finance Minister Piyush Goyal is all set to present the interim budget ahead of the 2019 General Elections.
Earlier on Thursday, Prime Minister Narendra Modi urged all lawmakers to utilise Parliament's Budget Session for having constructive debates. Speaking outside Parliament before the start of the session, the prime minister said there is awareness among the people in the country and all citizens watch the proceedings closely.