Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
General Budget is a terminology earlier used to differentiate between the Union Budget with the Railway Budget. Full-fledged budgets are titled "Union Budget", while interim Budgets are titled just that.
If the Budget makes no big announcements on new schemes, projects, or tax giveaways, the government would face a major political dilemma as it may have to reluctantly consider shunning the practice of unveiling pre-election sops to woo voters, notes A K Bhattacharya.
Prime Minister Manmohan Singh on Sunday approved the interim general budget which will be presented in the Lok Sabha by External Affairs Minister Pranab Mukherjee on Monday. Singh went through the interim budget related papers and after formally signing them, forwarded them to President Pratibha Patil, a Prime Minister's Office spokesman said."The Prime Minister also approved the interim budget speech," the spokesman added.
Benchmark equity indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead -- the interim budget and the US Fed interest rate decision -- to derive further cues from. Recovering all the early lost ground, the 30-share BSE Sensex jumped 612.21 points or 0.86 per cent to settle at 71,752.11.
The Halwa ceremony, marking the final stage of the budget preparation process for Interim Union Budget 2024, was held in North Block on Wednesday in the presence of Union Finance Minister Nirmala Sitharaman. Union Minister of State for Finance Dr Bhagwat Kisanrao Karad was also present. A customary halwa ceremony is performed every year before the "lock-in" process of Budget preparation begins.
Pre-Budget excercise next month should scrupulously avoid adventurism of all types and refrain from making excessively ambitious projections on revenue and expenditure numbers for 2023-24, suggests A K Bhattacharya.
The presentation of the Interim Budget (General) for 2004-05 was delayed in the Lok Sabha on Tuesday after Congress and other Opposition parties raised certain objections to its introduction.
Industry captains on Tuesday welcomed the Interim Budget saying it was consistent with the government's policy of achieving eight per cent growth target and creating a business-friendly environment in the country.
Opposition on Monday trashed the interim budget, terming it as a 'farewell budget' of a government which has 'lost' on all counts and has nothing to offer to the people.
The finance minister is likely to announce the government's vision for a tax-friendly regime by raising the I-T exemption limit from the current Rs 250,000 per annum.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
Finance Minister P Chidambaram presented the Interim Budget for 2014-15 on Monday.
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
Congress on Monday described the Interim Budget as "remarkable" while voicing confidence that its various allocations coupled with the government's performance would help the party hop back to power in the next Lok Sabha elections.
External Affairs Minister Pranab Mukherjee, who is also managing the finance ministry, presented the Interim Budget for 2009-10 in Parliament on Monday. Following is the text of the entire Budget Speech:
The party whose government presents the Interim Budget does not return to power.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
Union Finance Minister Nirmala Sitharaman will present the Interim Budget on February 1 ahead of the Lok Sabha elections likely to be held in April-May.
In the 15 Union Budget presentation days of the Narendra Modi government since it came to power in 2014, the BSE benchmark Sensex has ended in negative territory eight times.
India Inc on Monday gave a thumbs down to the Interim Budget 2009-10, proposed by Finance Minister Pranab Mukherjee, saying it is a non-event and more of a political statement.
Finance Minister Nirmala Sitharaman on Sunday makes history as she presents a record ninth consecutive Budget that is expected to unveil measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could buffer the economy from global trade frictions, including US tariffs.
India and the United States are committed to finalising an interim trade agreement, despite recent challenges including the US imposing a blanket 10 per cent surcharge and India's decision to wait for a new global tariff architecture. The US Trade Representative's annual report highlights India's maintained high import tariffs and various non-tariff barriers across several sectors.
There was no law that prevented the government from presenting a sixth full Budget, or something similar to it.
Finance Minister P Chidambaram presented the Interim Budget for 2014-15 on Monday. Income Tax rates were kept unchanged.
Despite BEST employees calling off their indefinite strike, Mumbai's bus services remained significantly below normal on Monday morning, with only 57% of the scheduled fleet operational. Commuters experienced long waits, leading many to seek alternative transport. The strike ended after an agreement with Deputy CM Eknath Shinde, which included interim pay hikes and commitments for future improvements and clearing dues.
From an Interim Budget for the purpose of vote-on-account, one does not usually expect much in regard to indirect taxes.
The Interim Budget was presented as an impressive report card of the UPA government -- the FM couldn't help lauding the UPA in pulling off an unprecedented GDP growth during its tenure.
State BJP president Nitin Gadkari said the government has misguided people by referring to past achievements in the Budget speech. But the people would teach them a lesson in coming Lok Sabha polls, he said.
FinMin has already sought inputs from different central ministries for the Budget speech, which would be the last Budget of the current BJP-led NDA government before the 2019 general polls.
There are no sops announced in a vote on account and there is no talk about generating income through taxes. A budget on the other hand is a full annual budget and will include the report card for the last year, income and expenses to be made in the next financial year through taxes and welfare measures and also any sector wise sops.
Pranab on Sunday met the Prime Minister Manmohan Singh and discussed budget-related issues with him.
PM taken out of ICU, likely to attend the last day of the Parliament session.
The NDA government has gradually nuanced its position on the issue of demographic challenge.
The Brihanmumbai Electric Supply and Transport (BEST) undertaking arranged special bus services for students appearing in the NEET re-examination in Mumbai, deploying 60 buses on 24 routes for approximately 180 trips, despite an ongoing strike by its employees that has paralysed public transport.
Presenting the interim Budget for 2009-10 in Lok Sabha, acting Finance Minister Pranab Mukherjee claimed in Parliament on Monday that every effort has been made to fulfil promises made to the common man.
The Trinamool Congress (TMC) is grappling with a severe internal crisis, evident as rival factions occupied separate sections of the opposition benches during the West Bengal assembly's budget session. This public display of disunity follows the party's defeat in the 2026 assembly elections and ongoing legal challenges over leadership.
Employees of Mumbai's BEST undertaking have launched an indefinite strike, severely impacting public transport and electricity services. The strike, called by a joint action committee, demands budget merger with BMC, settlement of dues, and implementation of the Seventh Pay Commission, among other issues. Despite court orders and MESMA invocation, the strike continues, causing widespread inconvenience to millions of commuters and electricity consumers.
