Hyderabad: Union Finance Minister Nirmala Sitharaman has presented the Interim Budget ahead of the 2024 Lok Sabha elections, marking the final budget in Prime Minister Narendra Modi's second term. This interim budget has provided a financial roadmap until the new government assumes office, helping manage ongoing financial commitments.
During election years like this, the incumbent government has presented an Interim Budget, covering short-term expenditures and revenues until the formation of a new government.
What is an Interim Budget?
During an election year, the incumbent government is unable to present a complete budget. As a result, an Interim Budget is introduced, encompassing the government's financial activities and revenues for a limited duration.
What does the Interim Budget entail?
The Interim Budget comprises approximations of government expenditure, revenue, fiscal deficit, financial performance, and forecasts for a short-term period.
What is Union Budget?
The Union Budget serves as the annual financial report outlining the government's anticipated expenditures and costs for the fiscal year.
When will the full Budget released?
Following the Lok Sabha elections, the new government will unveil the complete Budget, presenting comprehensive financial plans and allocations.
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