The UPA government, represented by then Finance Minister P Chidambaram, had in 2014 presented a Vote on Account.
Rajya Sabha Chairman Venkaiah Naidu on Wednesday hinted that the government may opt for a Vote On Account instead of a full-fledged Budget in February.
“As we are all aware that before the elections the Government normally just goes for Vote on Account — only for few days. That will also be for only a few days. So, it will be a continuous Session as per the present arrangement,” Mr. Naidu said in the Rajya Sabha, appealing to its members to allow the House to function in the remaining portion of the ongoing Winter Session.
Several tax experts and economists have speculated that the government could opt for a full-fledged Budget this time around, and would announce income tax incentives to encourage the growth of the direct tax base. If this were to take place, it would be the first time a government would have presented six full Budgets.
Legal experts, however, say that the shortage of time due to the election timetable and the end of the term of the current Parliament would make it almost impossible for a full Budget to be passed.
The UPA government, represented by then Finance Minister P Chidambaram, had in 2014 presented a Vote on Account.
A Vote on Account is a provision by which the government obtains permission from Parliament for a quantum of funds sufficient to incur its expenditures for a part of the year, until a full Budget is passed.
