Budget 2019: Piyush Goyal's Interim Budget may place heavy focus on farmers, say analysts

Union minister Piyush Goyal will shortly present the interim Budget of the NDA government led by Prime Minister Narendra Modi. This is the Modi government's last Union Budget before the Lok Sabha elections due by May. Analysts say Piyush Goyal may announce massive relief for farmers and small industries who are still feeling the aftershocks of demonetisation and the Goods and Services Tax (GST). With the Lok Sabha election just months away, the government is likely to keep the budget focussed on immediate relief such as easing income tax rules, favourable loan terms for small businesses, farm loan waiver and even direct cash transfers to farmers who are under debt. The farm loan waiver may reach up to Rs 1 lakh crore, according to some reports. The Modi government is also likely to waive off premium on crop insurance. Piyush Goyal's turn to reveal the contents of the Union Budget briefcase in the crucial national election year came after Finance Minister Arun Jaitley had to go on leave and fly to the US for treatment. Yesterday, the government said its estimate of Gross Domestic Product (GDP) growth for fiscal 2018 was 7.2 per cent, significantly higher than 6.7 per cent earlier. The Railway Budget for 2019 will also be presented today.

Here are the live updates of Union Budget 2019 to be presented by Union Minister Piyush Goyal:

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