The Lok Sabha on Monday gave its nod to the interim budget 2019-20 and sanctioned the proposed fund for first four months of the new fiscal 2019-20 after Finance Minister Piyush Goyal in his spirited reply said that the Modi government has embarked on a developmental spree.
The Finance Bill 2019 dealing with existing rates of income tax for fiscal 2019-20 and to provide relief to tax payers will be taken up on Tuesday. In his reply to the two-day long debate, the Finance Minister said the Congress and other Opposition parties were actually surprised to see that in just five years so much of developmental works were done and moreover - this was achieved by also ensuring that the country's economy is on right track.
The government proposals presented to Parliament on February 1 pledged a huge amount to support poor farmers and reduced the tax burden for the middle class as the BJP-led dispensation looked to rally support from voters in the ensuing elections.
What was considered a virtual poll launch, in the interim Budget, the Modi government had unveiled a Rs 75,000 crore new farm income scheme aimed to help at least 12 crore farmers. During Finance Minister's speech, the Opposition TDP and Congress members trooped into the Well of the House raising anti-government slogans.
The House also approved the third supplementary demands for grants for 2018-19. The Budget was passed in presence of Prime Minister Narendra Modi, other senior Ministers and BJP patriarch L K Advani.