Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

Govt. is planning to present full budget instead of vote-on-account in 2019

The Finance Ministry plans to present a full budget on 1 February, a senior government official said. Budget 2019, which will be the last by the present government ahead of the 2019 Lok Sabha elections in May, going by established practice should be a vote-on-account, with government seeking Parliament approval for expenditure from the Consolidated Fund of India for the interim period.

After sending an initial letter on October 18, 2018, the Finance Ministry sent reminders to Central Government departments and ministries to submit inputs by November 30, 2018 for the Finance Minister Arun Jaitley's budget speech.

The Govt. Official said on condition of anonymity that the government would be sticking to routine and publishing an Economic Survey, essentially the economic report card for 2018-19, though normally this task is left to the next government. The government has appointed a panel under former Reserve Bank of India governor Bimal Jalan to select the next chief economic adviser in the finance ministry and so far it has held two meetings to vet 20 applications.

The Finance Ministry is putting North Block in quarantine starting 3 December, 2018 restricting the access of journalists to ministry officials as budget preparation gains momentum.

Share This!

No comments:

Post a Comment