Budget 2024 Date, Time: All you need to know about Interim Budget to be presented by FM Sitharaman
Interim Budget 2024: Union Finance Minister Nirmala Sitharaman is all set to read out the Interim Budget 2024 in the Parliament on February 1 at 11 am. All eyes are set on the Interim Budget that will roll out the key decisions made by the Centre. The Interim Budget is presented by the outgoing government ahead of the Lok Sabha polls in the Budget session. The comprehensive Budget is then presented by the new government after winning the Lok Sabha elections.
FM Sitharaman’s Interim Budget is expected to talk about the government’s achievements since 2014 and will look ahead at Amrit Kaal of 2047. Just like the last interim budget, the Budget 2024 document is expected to give details about the past, charge the present, and communicate the future.
The Interim Budget mainly focuses on a breakdown of the government's expected income and expenses until the formation of the new government. On the other hand, a comprehensive Budget covers all aspects of government finances, including revenue, expenditure, allocations, and policy announcements. A full-year Budget serves as a strategic roadmap, outlining the country's economic path for the entire fiscal year. The interim budget offers financial information for the transitional period.
The presentation of an interim budget follows the same schedule as the Union budget would in a regular financial year.
In recent years, the Interim Budget has become crucial for the ruling governments as a strategic tool for general elections. It allows them to present the economic vision of the ruling party, giving an outlook why they should be re-elected.
