Finance Minister Nirmala Sitharaman on Thursday said the budget to be presented on February 1, 2024, would not have any “spectacular announcement” as it would be a vote on account in run-up to the general elections.
“It is a matter of truth that the February 1, 2024 budget that will be announced will just be a vote on account because we will be in an election mode. So the budget that the government presents will just be to meet the government's expenditure till a new government comes into play,” she said.
Speaking at the CII Global Economic Policy Forum, Sitharaman said the country would be preparing for the Lok Sabha elections due in the summer of 2024.
Hence the February 1 budget, following the British tradition, is called vote on account.
“No spectacular announcements come in that time (in a vote on account). So you will have to wait till after the new government comes in and presents the next full Budget in July 2024,” Sitharaman said.
On February 1, 2024, Sitharaman will present an interim 2024-25 fiscal budget, beginning April 1, 2024, in the Lok Sabha.
The interim budget which is also known as a vote on account will allow the incumbent government to undertake expenditures till a new government is formed after general elections.
🕑 03 May, 2024 12:32 PM
Finance Ministry notifies LIC’s 17% wage revision
🕑 03 May, 2024 10:04 AM
Validity of CGHS empanelled Health Care Organizations (HCO’s) extended
🕑 29 Apr, 2024 09:55 PM
DoPT Clarification on increase in allowances by 25%
🕑 24 Apr, 2024 09:17 AM
DoPT forwards 8th Pay Commission demand by IRTSA forwarded to Fin Min
🕑 23 Apr, 2024 10:01 AM
CGDA: Revision of rates of Allowances with DA rates increased to 50%
🕑 22 Apr, 2024 12:59 PM
CBDT: on DoPT order on regularization of Casual Workers
🕑 21 Apr, 2024 09:54 PM
DoPT Consolidated Instructions on SC, ST, OBC, PwD & EWS reservation
🕑 18 Apr, 2024 11:51 AM
Timeline extended for CGHS Beneficiary ID - ABHA ID linking
🕑 10 Apr, 2024 08:35 AM
Kendriya Vidyalaya Sangathan Admission Guidelines 2024-2025
🕑 05 Apr, 2024 01:23 PM
Kendriya Vidyalaya Balvatika Admission Schedule - 2024-25
🕑 02 Apr, 2024 09:25 AM
Kendriya Vidyalaya Admissions Open for 2024-25: Key Dates & Appln Process
🕑 01 Apr, 2024 09:23 AM
Kendriya Vidyalaya (KV) schools where Balvatika is functioning
🕑 14 Mar, 2024 02:07 PM
Govt bans 18 vulgar 18 OTT. See the list here
🕑 08 Mar, 2024 01:49 PM
Pension Scheme Gains Traction Across States, Despite Central Hurdles
🕑 20 Feb, 2024 11:17 PM
CGHS rate for general surgery applicable from February 1, 2024
🕑 08 Feb, 2024 10:19 AM
No loan interst change as RBI maintains repo rate at 6.50% for the 6th time