The lack of big ticket announcements or any tax relief in the interim budget presented by Finance Minister Nirmala Sitharaman underlined the ruling BJP’s confidence ahead of the national election. The government will present a detailed roadmap to pursue its goal of Viksit Bharat in its full budget in July, the minister said.

The tone was set by Prime Minister Narendra Modi yesterday. Addressing the media at the start of the Budget session, the Prime Minister said, “Just before the election, we don’t submit a full budget, this we will do after a new government is elected. This interim budget is a guideline for us. I am hopeful that the country will touch new heights of prosperity. Development for everyone is taking place. This journey will continue with your blessings. Ram Ram.”

Though this is not a full budget, taxpayers had hoped for some relief in an election year. There was buzz on the possibility of the government revising the cap on investment exempted from Income Tax. Some Opposition leaders had also expected the government to make populist announcements with its eye on the elections. But what was presented was a statement of confidence and a plan to keep the big announcements for later.

Ms Sitharaman said she had decided to not make any taxation changes in keeping with the convention in interim budgets.