Understanding Regular Vs Interim Budget And Role Of Vote On Account | In PICS

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

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. Let’s try to understand how these two differ and what role vote on account plays. Getty

The regular budget acts as the full financial statement for the upcoming fiscal year, from April 1 to March 31. This document provides a comprehensive list of the government’s revenue sources and suggested expenses for the period. Getty