In The Interim

In keeping with the convention, the Finance Minister announced no changes to the tax slabs or rates. All eyes are now on the upcoming general elections and the Union Budget later this year Over the last month, we have read a host of wish lists from Union Minister Of Finance Nirmala Sitharaman’s Interim Budget from various sectors and industries. These wish lists came even though Interim Budgets, which are announced a few months before the general elections and are meant to cover the transition period between the current and new governments, are typically non-events. Instead of making new announcements, an Interim Budget merely recaps major decisions taken by the present government over the last five years. Any new announcements could be seen as a populist move just before the elections. In keeping with the convention, Sitharaman also announced no changes to the tax slabs or rates;...