India is in the midst of its seven-phased Lok Sabha elections and in such a year, where there is a possibility of change in government, the complete financial budget is presented after the formation of the new government. On 1 February, the ministry of finance presented the "interim budget" for the current financial year 2019-20. The "full budget" is scheduled to be presented in July.
An IANS report said that in preparation of the union budget, that usually starts a couple of months ahead of the presentation, the ministry has sent out communications to various industry bodies and stakeholders, asking for their suggestions. These industry comments are sough to be submitted by 10 May. A senior finance ministry official told the IANS that the full budget will be presented in July.
While many predictions are being made, experts say that it is highly unlikely for a new government to make any major changes in the budget considering the short time period as the preparations for the next financial year's budget will begin in November.