Sumit Jain (CA) (4760 Points)
29 May 2009FRIENDS PLEASE LET ME KNOW
WHY BUDGET(FINANCE ACT) IN AN ELECTION YEAR DIDNOT COME IN FEB BUT IN JULY
PLEASE PROVIDE ME STRONG REASONS
THANX IN ADVANCE
Dear Sumit
The budget in the election year comes in July because in February the ruling party presents the interim budget. As the elections are held in April or May the ruling party presenting the interim budget may not be elected. So to avoid problems the ruling party presents interim budget in February of election year and if it is reelected then it presents final budget.
That’s why budget in election year is presented in July.
CAclubindia
