Interim Budget 2024: Key Things to know

Union Finance Minister Nirmala Sitharaman will present the interim budget for the Fiscal Year 2024-25 on 1st Feb 2024

Unlike a comprehensive Budget, an Interim Budget will outline the government’s anticipated receipt and expenditure until the new government will formed.

The Interim Budget will provide details for a transitional period.

 Also known as “Vote on account”, it serve as authorization for incurring specific expenditure which are necessary until the new government assumes office.

The election commission has proposed certain limitation on interim Budget for example it can not propose major taxes or policy reforms.

A vote on account remain effective for 2 months.

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