Earlier today $4, news reports emerged that India’s Modi government was set to break tradition and present a full budget on February 1, as opposed to an interim vote on account. However, anonymous officials from the finance ministry have reportedly denied this.
ANI, a news service, is reporting that the finance ministry will stick to an
Moneycontrol has also reported that anonymous government officials had denied the reports.
As per convention, outgoing governments, even if they are seeking reelection, do not present budgets for the full year ahead. The budget in an election year is only a report card, and allocations are made to run the government for the few months in the run up to the election.
The government formed after the election then presents a budget for the remaining months of the year.
A number of critics of the government have weighed in on the plan to present the full budget, citing the “unconsitutional” nature of the move, especially $4, the former finance minister, adding that he “doesn’t trust the figures released by the government anymore. Anand Sharma, an opposition leader in the Congress, has also termed the act of presenting a full budget as a $4.