Union Finance Minister Arun Jaitley will return to India from the United States to present the interim budget on February 1, reports claimed. Jaitley, who is currently undergoing treatment in the US, had left the country earlier this month. Earlier, the speculations started doing the rounds that the Union FM might not present the interim budget in the House as he has gone to New York for a regular medical check-up. However, the reports have finally been dismissed by some top sources in the Ministry of Finance adding that it will be Arun Jaitley who will read out the speech in the Parliament.
The reports said that the ruling government could make some key announcements for farmers and the middle class in the Budget 2019. Agriculture sector can also expect some major reliefs in the Budget, says reports, adding schemes to relief farmers to eventually increase their incomes.
A few days back, there were also reports that the government is planning to increase the tax exemption limit. The reports claimed that the government may increase the tax exemption limit from Rs 2.5 lakh per annum to Rs 5 lakh per year.
It is going to be the last Budget to be presented in the House before the Lok Sabha polls, thus the Centre could make some announcements that will help them to send a positive message to the people across the country. The parliament will meet from January 31, 2019, to February 13, 2019, for the budget session.
The interim budget includes details of the government’s finances in the past year, as well as estimates of its expenditure in the coming months.