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So guys on February 1st we are going to view our interim budget being presented by Piyush Goyal since Arun Jaitley cannot be there to present the budget due to certain health ailments, and we expect the budget to bring out few key concerns of the economy, majorly revolving around Bharat as well as India.

• Speaking about Bharat the key thing that we can expect from the budget is addressing the issues that the farmers and the participants in the agriculture industry are facing so obviously it’s not going to be a standard handout like a farm loan waiver, however we expect investment related subsidies like Rythu Bandhu to be introduced at a central level to actually help subsidise the investments made by farmers into certain agricultural technologies and other products related to farming, so that is one.
• The other thing that we can expect is some more enhancement on the MSP front since the last budget boasted a lot on the MSP but the affects rather the positives have’nt been able to trickle down to the farmer level and this year’s extremely overwhelming produce and prices dipping further the economic situation of the farmers seemed to have deteriorated much more instead of being better after the MSP announcement, so these are the 2 keys things that we expect on the farm, agriculture and Bharat Front, you know.
• At the same time when we are talking about India obviously many of us are talking about tax rate cut in the personal tax rates, but that does’nt seem very fiscally prudent at the moment, and having said that you know tax breaks can be given in different forms and sizes.
• Another expectation as well would be that the finance ministry would reinstate medical allowance and transport allowance since the standard deduction allowed in the last budget seems to be quite insufficient given the current costs that one has to incur on both medical and travel fronts or if not that I feel that the limit for the standard deduction would atleast be enhanced to a higher limit, also well the last budget spoke about an extended limit for medical insurance premium paid for senior citizens with growing medical  inflation you know, we feel that it is a must have or an absolute need for everyone in India and also under several of the government’s healthcare, programs and initiatives it is important that the tax break expands under section 80D to a higher limit.
• At the same time you know just to infuse the capital market participation in the country and to foster long term savings and investments you can actually expect the limit for section 80C to go up from 1.5 lakh, having said that lets say even if there is an additional 50000 offered under 80C and basic 1 crore people avail it, that would be almost Rs.50000 crore out of the tax net, so while the mathematics is still to be worked out I feel this is a good expectation we have from the budget.

so all in all the budget is going to present a lot many things, these are just a few of our expectations, so you know just watch out for the space we will be watching the budget closely and once the budget is done this is the very space wherein we’ll be sharing our views and opinions on the interim budget on how it is going to impact and change things in India, in our society and your investments as well.
So, guys, lets wait for Feb 1st and keep watching this space, meanwhile download the Finity App and keep looking for investments that will continue to grow irrespective of however the budget works out.
Happy Investing!

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Hi guys! So as the interim budget is closing by we have received a few queries and questions around the budget itself so we decided why not in the best interest of everyone share the same questions and our responses to it with all of you viewers out there

1. What is an interim budget?

Interim budget is the name itself suggests its the budget presented in an interim fashion it is not an actual full-fledged budget it is something being presented as a temporary solution, so this generally done during the time of the year where there is a general election close by like it is now, so our interim budget is not really a full-fledged budget but a mini version of it, it is generally. Anything presented in the interim budget cannot really be implemented for the whole next year, there will be a full-fledged budget presented by the next elected government.

2. What is the difference between an interim budget and a vote on account?                                                                                                               

 An Interim budget would be talking a lot about past expenses and past revenues, also the future expenses and revenues that the government expects at least for the next couple of months till the general Lok Sabha elections are conducted. A vote on account, on the other hand, has the first part intact it will talk about the past revenue and expenses but at the same time it will also focus majorly around the expenses that the government would be making and not so much around the sources of income or the revenues.

So that is the difference between in an interim budget and a vote on account so government generally during election years can choose to present one of these this year the finance ministry explicitly mentioned that it would be presenting an interim budget.

3. When is an interim budget applicable?

As I mentioned it is applicable when a government does not really have a full tenure to implement a budget like now majorly because of an upcoming election, like this year in 2019. So an interim budget is basically the budget which is in play and in force till the next government is elected.

4. How is interim budget different from the final budget?         

Final budget- it consists of a lot more than an interim budget, it talks about the past and the future years revenue and expense in detail.

However an Interim budget  due to the lack of a period in future it cannot really talk much about the sources of revenue in future, neither about the expenses that it expects to, the current government expects to incur over an entire year so it is somewhat an apprised version of a full budget, generally a full budget can include several important measures like certain tax changes, policy changes while the interim budget can also introduce a few policy changes, the election commission of India has certain guidelines to ensure that the interim budget is not presented in a way that unfairly influences the voting section of the society, so that is the basic difference between an interim and a full budget.

5. Does interim budget 2019 hold any value?                                       

This is quite a question that demands some opinion on a personal and subjective front, in our opinion all budgets do hold value and the interim budget would actually be indicative of what the current government is willing to do, having said it is not necessary that it does everything that it mentions in the interim budget but it actually explains the mindset and the framework with which the current government expects to run the economy if re-elected so that offers some more insight and perspective and apart from that, while it does not hold any significant value for the longer term it does have a deep impact on the sentimental and emotional fronts on the Indian population so ya by that measure it does have a certain degree of importance.

So these were the top 5 questions that came to us, if you have any more questions related to the budget, we would be more than happy to answer them, just drop your questions in the comment section and we will answer each one of them, so meanwhile keep watching this space once the interim budget is out we actually hope to come out with another video explaining of what we understood of the interim budget and how we expect it to impact the country, the economy, and your personal investments.
So meanwhile keep browsing through the Finity app for investment opportunities that would turn to gold irrespective of what this budget presents.
Happy Investing guys!