Piyush Goyal Named Finance Minister in Arun Jaitley's absence
Piyush Goyal Named Interim Finance Minister due to Arun Jaitley's Health issues
The interim budget will be presented on February 1.
"The President of India, as advised by the Prime Minister, has been instructed that during the period of the inevitability of Mr Arun Jaitley, the Minister of Finance and the Minister of Corporate Affairs organized by him temporarily To be handed over to Mr Piyush Goyal; Apart from his existing portfolio, "a press release said in Rashtrapati Bhavan said.
Arun Jaitley, 66, is in the US for a medical check-up. Medical travel triggered questions whether he would be able to present the budget, especially when the national elections are due in a few months.
Piyush Goyal also last year had filled Shri Jaitley as Minister of Finance and Corporate Affairs for nearly three months when Mr Jaitley had stopped going to the office in early April to undertake kidney transplantation surgery.
The government is likely to depart from Adarsh to announce some important decisions in the interim budget.
Important announcements may be made for farmers and the middle class. Sources say that the agriculture sector can expect those plans which are aimed at unbalancing the farmers and increasing their income. The government is reportedly planning to increase the limit of income tax exemption limit.
By 2016, the central budget was presented in the last working day of February, but Mr Jaitley changed that tradition in 2017 when the budget was presented on February 1.
An interim budget covers a short period of time, usually a few months. But like a full budget, it contains details of government finance in the previous year, along with estimates of its expenditure in the coming months after the election. An interim budget comes after the new government after another budget.
This budget will be the last of the Lok Sabha elections. The Parliament will meet for the budget session from January 31 to February 13.
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