Union Finance Minister Nirmala Sitharaman presents the Interim Budget 2024 in the Lok Sabha, at Parliament House in New Delhi, Thursday, Feb 1, 2024.
Credit: PTI File Photo
Finance Minister Nirmala Sitharaman will present the Union Budget on July 23, having already presented an Interim Budget ahead of the Lok Sabha elections. In light of the upcoming Budget, we take a look at some of the terms associated with the exercise.
If a government does not have the time to present a full Budget, or when the general elections are around the corner, an Interim Budget is presented.
In other words, the Interim Budget is stopgap arrangement, which allows the government to meet the country's financial needs until a new government takes office.
The Interim Budget includes estimate of its expenditure, fiscal deficit and financial performance, revenue and projections for the upcoming financial year.
The ruling government cannot include any major scheme in the Interim budget as it could influence the voters, as per the Election Commission's Code of Conduct. The government in power cannot also deliver the Economic Survey ahead of the Interim Budget.
Union Budget 2024 | Making a record for any Finance Minister, Nirmala Sitharaman will be presenting her 7th Union Budget on July 23, 2024 under the Modi 3.0 government. While inflation has burnt a hole in the pockets of 'aam janata', will this Budget spell relief for Indians? Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.