The Modi government is to present budget on February 1. Normally the parliamentary conventions tell us that governments should only present an interim budget called Vote on Account in an election year. This is to facilitate the government that assumes office after elections to pursue its own public finances trajectory. Though there is no constitutional mandate that prevents an incumbent government from presenting full budget, it is not fiscally prudent and politically upright to present a full budget. The government cannot make any big policy announcements or launch new schemes in an interim budget. The Vote on Account normally confines to payouts on the account of salaries, pensions, debt servicing and other routine administrative expenses. But, the indication is that BJP government laying to rest these time tested parliamentary conventions may come out with full budget. The ruling party leaders may defend this calling it the confidence of the party to come to power post 2019 polls.
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The Modi government is to present budget on February 1. Normally the parliamentary conventions tell us that governments should only present an interim budget called Vote on Account in an election year. This is to facilitate the government that assumes office after elections to pursue its own public finances trajectory. Though there is no constitutional mandate that prevents an incumbent government from presenting full budget, it is not fiscally prudent and politically upright to present a full budget. The government cannot make any big policy announcements or launch new schemes in an interim budget. The Vote on Account normally confines to payouts on the account of salaries, pensions, debt servicing and other routine administrative expenses. But, the indication is that BJP government laying to rest these time tested parliamentary conventions may come out with full budget. The ruling party leaders may defend this calling it the confidence of the party to come to power post 2019 polls.
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