The rules are not cast in stone: P. Chidambaram, while presenting the interim budget for 2014-15 ahead of the last Lok Sabha elections, had announced the One Rank One Pension scheme for the armed forces in a move that could win the support of voters in the defence services. Jaitley later criticized Chidambaram for providing only ₹ 500 crore in his interim budget, which was a pittance compared to the annual financial implication of the scheme at around ₹ 7,500 crore.
The policy initiatives that the government could take in the interim budget were limited as direct tax adjustments would require amending the finance bill, said D.K. Srivastava, chief policy adviser at EY India. “However, they have more flexibility on the expenditure front, where they can announce schemes without providing substantial funding for it." he added.
In an interview on 26 December, principal economic adviser in the finance ministry, Sanjeev Sanyal, said there might be “some policy guidance" in the interim budget, without revealing details. However, he confirmed that no Economic Survey would be released. “The Economic Survey will come out only with the full-fledged budget announcements in June-July," he added.
“Petrol prices are under control and management of inflation is good. Direct tax collection has increased, which means greater availability of resources. The focus of the government has been the socially and financially weaker section and it would further get strengthened in the budget," a senior BJP leader said on condition of anonymity.