Budget 2019 LIVE: FM's speech at 11 am; tax sops for corporates expected

Budget 2019 LIVE updates: Finance Minister Piyush Goyal is set to present Interim Budget 2019 in Parliament today. With the Lok Sabha elections just a few weeks away, this Budget and the budget session that began after President Ram Nath Kovind's address to a join sitting of the two Houses on Thursday, is extremely crucial for the Narendra Modi-led National Democratic Alliance (NDA) government. So, will the Interim Budget be a please-all one? Interim Budgets are not typically known for significant amendments. They only provide for the government's policy stance and financial plan for the three-four months before elections are held and a new or returning government presents a full Budget for the financial year. Interim Budgets in the past -- from Morarji Desai’s speech in 1962 to P Chidambaram’s proposals in 2014 -- have, however, also made political announcements. 

As Goyal presents the Interim Budget, all eyes will be on him to see if he would announce sops for various segments, which might benefit the ruling party in the coming elections, or stick to the path of fiscal consolidation. Some reports have suggested that Interim Budget 2019 might offer tax sops to the middle class, and corporations could get relief packages to beat agrarian distress and pressures felt by small-scale industries.

When to watch the Interim Budget?

Finance Minister Piyush Goyal will present the Budget speech at 11 am in Parliament.

What is an Interim Budget?

Interim Budgets or vote-on-account are presented ahead of general elections. The government of the day seeks Parliament's approval to meet its expenditure for the first four months of the next financial year (April to July). An Interim Budget is followed up with a full Budget in July by the government that takes office after the elections.

Catch LIVE updates on Interim Budget 2019