‘Something for everyone’—BJP to go for populist measures in interim Budget

NEW DELHI: Speculation is rife that Finance Minister Piyush Goyal’s presentation of interim Budget will go beyond the conventional “vote on account” sought by a government in an election year and that the “full-fledged Budget” could contain some populist measures for youth, women, the farm sector and the perceptibly upset middle class

Vibha Sharma
Tribune News Service
New Delhi, January 23

Speculation is rife that Finance Minister Piyush Goyal’s presentation of interim Budget will go beyond the conventional “vote on account” sought by a government in an election year and that the “full-fledged Budget” could contain some populist measures for youth, women, the farm sector and the perceptibly upset middle class.

"There will be something for everyone," a top BJP leader said on Thursday, also dismissing the criticism by the Congress that has warned of massive protests inside and outside Parliament if Prime Minister Narendra Modi government tried to present a full-fledged Budget instead of a vote on account calling such an attempt a violation of “constitutional propriety and parliamentary norms”.

According to the BJP leader there was no such provision as “so-called” interim Budget in the Constitution of India. “A Budget is a Budget. The Union Budget of India, which is also referred to as the Annual Financial Statement as per the Constitution of India, is the annual Budget of India. The interim Budget also gives the complete financial statement, very similar to a full Budget,” he said, dismissing the Congress’ allegations on the issue.

The upcoming Budget,, whatever form it is presented in, is expected to focus on rural and farm sector spending in mind recent electoral losses suffered by the ruling BJP in three important Hindi heartland states—Madhya Pradesh, Rajasthan and Chhattisgarh. The financial account for 2019 is expected to see higher social sector spending with a focus on increasing rural incomes say sources.

While generally new tax measures are not announced in pre-election Budgets, speculations are rife of some big announcement or relief for the middle class and women. It will be “people-friendly” with announcements for farmers, housewives, youth, among others, is the general buzz. However, according to experts, since it is pre-election exercise populist policy measures may be announced but it is unlikely that fund allocations will be made. Meanwhile, all eyes are on the big day—February 1.