Interesting Facts You Must Know About Interim Budget 2024

By- Srushti sharma

Budget 2024 is ready to be presented on 1st February.

This year's budget will be an 'Interim Budget'.

An interim budget is presented by the government that is in a transitioning phase or is in its last year in office ahead of general elections.

What is Interim Budget?

The budget will be presented by Nirmala Sitharaman, during a joint sitting of both the houses (Lok Sabha and Rajya Sabha).

Who is going to present it?

It willl be valid till Lok Sabha 2024 results are announced. After this the newly formed government will present a complete budget.

Validity

In order to cover its budgetary needs before the end of fiscal year, the incumbent government submits an interim budget to Parliament for approval.

Approval Vote

Until a new government is formed, the government's expected revenues and outlays will be outlined in the interim budget.

Though there is no constitutuional ban on making significant announcements during a vote on the account, historically, big policy announcements have been avoided.

No prohibition

After the announcement of the budget by FM Sitharaman, all the documents will be uploaded online.

Uploaded online