Explained: How Does Interim Budget Differ From The Regular? The Full Role Of Vote On Account

When the typical Budget cycle is disrupted by elections, the government uses the interim budget to help the country’s machinery move forward without any hiccups

Finance Minister Nirmala Sitharaman is scheduled to present the interim budget on February 1, 2024. Owing to the elections taking place in the year, the govt will not be presenting a regular budget

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The Indian government releases the Union Budget every year on the first day of February and this budget serves as a financial blueprint for the upcoming fiscal year. However, due to the elections taking place in 2024, the Union government will not be presenting a full budget, rather an interim budget on February 1. Finance Minister Nirmala Sitharaman is scheduled to make the presentation. However, first let’s try to understand the difference between the two types of budget and the roles