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is Vote On Account 2014 election oriented interim budget?

shriram | 18th February 2014 | Politics And Government
is Vote On Account 2014 election oriented interim budget?

    The budget is focused towards elections. and it has tried to appease many different constituencies whether it is the rural, whether it is the defence forces, whether it is the youth.
Leaving direct taxes untouched except for continuing the income tax surcharge on 'super-rich' individuals and corporates, the interim budget on Monday slashed excise duty on cars and two-wheelers, and capital goods and consumer durables to boost manufacturing and growth.
This year, a vote-on-account would be presented instead of a full budget because general elections will be conducted in May. Since the present government would not have enough time in hand to vote for a full budget before the commencement of the new financial year, a vote-on-account would ensure that sufficient funds are at the disposal of the government to allow it to run the administration of the country until a new government takes over.


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