The Finance Ministry is indicating that it will continue to have the interim budget allocations which are made to the ministries and departments, in the final budget for the present financial year to be presented in the Lok Sabha on July 5. The Finance Ministry, in the run-up the Lok Sabha elections has already come up with an interim budget in February which authorizes the government expenditure for a fixed limited time. As the new government has been formed now, a full year budget will be presented by the new Finance Minister Nirmala Sitharaman on July 5 following the Economic Survey for 2019-2020 on July 4. The budget team of FM Nirmala Sitharaman is comprising of Chief Economic Advisor Krishnamurthy Subramanian and Minister of State for Finance Anurag Singh Thakur.
And the official team will be led by Finance Secretary Subhash Chandra Garg, Revenue Secretary Ajay Bhushan Pandey, Financial Services Secretary Rajiv Kumar, Expenditure Secretary Girish Chandra Murmu and DIPAM Secretary Atanu Chakraborty. The Finance Ministry Circular States that allocations which are projected in the interim budget of 2019-2020 will not be altered. But if there are any other requirements on the account of the unavoidable commitments that may not have been fully provided in the February Budget, the ministry may propose the same for the consideration of including it in the Regular Budget 2019-2020.