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Lok Sabha passes vote-related demand and appropriation bill

Lok Sabha passes vote-related demand and appropriation bill

The Lok Sabha passed the voting rights for the first four months of 2019-20 and the Appropriation Bill passed on 11 February 2019. The Lok Sabha passed it between the exit of Congress and the Left parties.

The House also approved the third supplementary grant of financial year 2018-19 and the Appropriation Bill also got vigilant approval. However, the Finance Bill 2019 will be kept for discussion and passage the following day.

Lok Sabha grant of accounting demands

  • The House also approved the supplementary grant for the year and the Appropriation Bill for meeting the additional expenditure of 2018-19 with the accumulated fund of India.
  • Speaking in the House, the Finance Minister said that the Central Government has announced the Prime Minister Kisan Samman Nidhi Yojana in the interim budget of 2019-20.
  • He said that under this scheme small farmers will get income of Rs. 6000 per year.
  • This amount will be given in three installments of 2000 rupees.
  • Under another important scheme, for the unorganized sector workers, the age of 60 years has been declared as monthly pension of Rs. 3,000. This plan is going to start from February 15.
  • On all these demands, the Lok Sabha has given its approval vowally and passed the interim budget.
  • Prior to this, Finance Minister Piyush Goyal, responding to the discussion lasting about seven hours on the interim budget, rejected the allegation that the government has violated the traditions by presenting a complete budget in a way and prepared the budget in view of the elections has been done.
  • He also misinterpreted these allegations that the government has failed to maintain financial discipline.

Difference in Interim Budgeting and Voting

  • The government does not make any policy decision under voting. Under this, changes in tax rates or new plans are not announced.
  • The theoretical argument behind this is that when the government's term is ending, he cannot make announcements for the next full year because after elections, another government or coalition government can be formed.
  • Therefore, the present government cannot impose its financial decisions and budget on the next government. It is not a binding tradition, but a healthy democratic tradition.
  • Generally, in such situations the government passes the ordinance. Accounting is just an account of revenue and expenditure. In this, it is proposed to take money from the exchequer for three or four months for government employees' salaries, pension and other government functions.
  • This is so, that according to the constitution, the approval of the parliament is necessary for extracting money from the treasury.
  • The first interim budget in India's history was presented by Morarji Desai in the year 1962-63. After Vishwanath Pratap Singh's government in 1991-92, Yashwant Sinha presented the interim budget.
Q.1 Who is the following was the former Finance Minister of India?
A. Chandra Shekhar
B. Sushil Sinde
C. Narayan Rane
D. Yashwant Sinha
Answer...
Ans: Yashwant Sinha

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