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Interim Budget 2019: Will FM Piyush Goyal surprise the nation tomorrow?

The interim budget 2019 is likely to be followed by a full one in July. The main focus of the budget will be on the rural sector and the urban middle-class

The Interim Budget will be presented by Finance Minister Piyush Goyal in the Lok Sabha on February 1. This is the last Budget of the Narendra Modi-led National Democratic Alliance (NDA) government. Much has been said and talked about with respect to the same in the past few weeks. Anticipation is high on the matter of tax slab change, and experts are expecting a surprise announcement from Piyush Goyal.

After Opposition victories in three state polls last month, and given the need to call Lok Sabha elections by May, Prime Minister Narendra Modi is facing some discontent over depressed farm incomes and doubts over whether his policies are creating enough jobs. The budget, which is interim and is likely to be followed by a full one in July, is expected to project the country's economic growth rate at around 7.5 per cent for the next financial year, and expand capital spending on railways, roads, ports by 7-8 per cent, and estimate a revenue increase of about 15 per cent, according to reports.

But the main focus could be on the rural sector and the urban middle-class. Finance minister Piyush Goyal is going to present the Budget in the absence of Arun Jaitley, who is currently in the United States for medical treatment.

7:31 AM

Budget terminology: Monetised Deficit

It indicates the level of support extended by the Reserve Bank of India to the government's borrowing programme.

7:07 AM

Before the Budget session begins in the Parliament, let us look into some jargons that will help you understand Interim Budget 2019:

Revenue Receipt: It includes proceeds of taxes and other duties levied by the Centre, interest and dividend on investments made by the government, fees and other receipts for services rendered by the government.

7:00 AM

Finance Minister Piyush Goyal will present Interim Budget 2019 at 11 am today.

9:50 PM

Ather Energy calls for cut in import tariff on lithium ion cells for EVs

To promote manufacturing of electric vehicles in India, import duties on fully built batteries need to be increased while the same should be reduced on lithium ion cells, motors and motor controllers, according to electric-two wheeler maker Ather Energy.

9:47 PM

How it can help improve quality of India's schooling

In rural India, almost half of grade V students cannot read a grade II text and more than 70% them cannot do division, said the Annual Status of Education Report (ASER) 2018. These numbers indicate a fall in standards over the last 10 years.

9:29 PM

In the run-up, sovereign bond yield up 18 bps to 7.6%

The yields on India's benchmark sovereign bonds were hovering around 7.6 per cent ahead of the country's interim budget, according to a report by Singapore banking group DBS. The yields of the most traded 2028 INR sovereign bond were bid in the 7.5-7.6 per cent range and are up around 18 basis points since late-2018.

9:27 PM

Interim Budget 2019: Farm relief package on cards? Here's what to expect

Discount of 2 percentage points on loans for businesses with annual sales of less than 50 million rupees; government to compensate banks for the costs

9:17 PM

Interim Budget 2019 to be growth-oriented futuristic: Petroleum Minister

No economy in the world can work without giving priority to the energy sector. Our per capita energy consumption is still one-third of the world average: Dharmendra Pradhan

9:12 PM

Centre's divestment target for FY20 to likely be around Rs 80,000 crore

The disinvestment target for 2019-20 (FY20) is likely to be around Rs 80,000 crore, the same as that of 2018-19 (FY19), said sources in the government.

The Department of Investment and Public Asset Management (Dipam) hopes for a successful go at privatising Air India.

9:11 PM

Reform defence budgeting

The government has not allocated the capital budget needed for payments that were falling due this year. The navy projected to the defence ministry a capital requirement of Rs 30,358 crore, but was allocated only Rs 19,083 crore, a shortfall of 37 per cent.

9:09 PM

Growth much below potential hit by revenue, capex

Advance estimates say growth in the last year of this term of the Narendra Modi government will be higher than in 2013-14, the last year of the United Progressive Alliance (UPA) regime, though the potential for higher growth was greater. Growth was 6.4 per cent in 2013-14.

9:05 PM

Agri focus increases, but a lot more needs to be done

Farm-gate prices of most commodities have slumped in the four and half years of this government mainly owing to a drop in global commodity prices and oversupply in domestic markets, along with a decline in demand. Though the first two years, 2014 and 2015, saw back-to-back drought, the production of foodgrains and oilseeds fell marginally.

9:03 PM

3 PSU insurers may get Rs 4,000-cr to shore-up capital

The upcoming Budget may have provision for Rs 4,000-crore capital infusion for public sector general insurance companies to shore up their capital. The Budget 2019-20 is likely to be presented on February 1. According to sources, the Department of Financial Services sought Rs 4,000 crore in the Budget for fund infusion in three insurance companies -- National Insurance Company, Oriental Insurance Company and United India Insurance Company

9:01 PM

Why BofA-ML expert expects fiscal surprise for markets

India’s sovereign bonds market has been jittery of late, with investors bracing for the government to announce populists measures in the federal budget due this Friday. Bank of America Merrill Lynch isn’t perturbed.

9:00 PM

Focus must be on skilled labour to tackle unemployment

Budgetary allocation to the ministry of skill development and entrepreneurship (MSDE) has witnessed a 237% increase over the last four years, from Rs 1,007 crore (actual expenditure) in 2015-16 to Rs 3,400 crore (budget estimate) in 2018-19, according to ministry data.

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First Published: Jan 31 2019 | 5:21 PM IST