Don’t miss the latest developments in business and finance.

image

Interim Budget

About Interim Budget

Facebook IconLinkedIN Icon

What is Interim Budget?

An Interim Budget is presented by a government that is going through a transition period or is in its last year in office ahead of general elections. Traditionally, an incumbent government cannot present a full Union Budget in the election year. Instead, the Finance Minister presents an Interim Budget during the joint sitting of Rajya Sabha and Lok Sabha in Parliament.   With an Interim Budget, the incumbent government seeks a vote of approval from Parliament to draw money from the Consolidated Fund of India to meet its Budget expenses before the end of the financial year; that is, March 31, 2019. It is a traditional practice which takes place in the run-up to every general election.   The full Union Budget is presented by the newly-elected government after Lok Sabha polls. In recent times, Interim Budgets have been instrumental for the incumbent governments to list out their achievements to draw voters' support.   What can be done?   An Interim Budget is similar to a Union Budget. In Interim Budget, the ruling government tables estimate of its expenditure, revenue, fiscal deficit and financial performance and projections for the upcoming financial year. The ruling government at the end of its tenure, presents an Interim Budget for three to four months so as to keep the country running unhampered. The likely focus of the incumbent government in the Interim Budget can be to outline its economic vision for the next five years, should it return to power.   Even if major tax proposals are not made, the ruling government sometimes does adopt a few populist measures to please the electorate.   What cannot be done?   It does not make any major policy announcements during the Interim Budget which could financially burden the next government that will present the full Union Budget. According to the Election Commission's Code of Conduct, the ruling government cannot include any major scheme in the Interim Budget as it could influence the voters. The government in power does not present the Economic Survey along with the Interim Budget.

Latest Updates on Interim Budget

Union Budget 2024 Live Updates: Catch all the latest updates here

Updated On: 02 Feb 2024 | 5:21 PM IST

FM overperforms on deficit, stays away from sops, pushes feel-good factor by ending old tax disputes, lists out decade of development

Updated On: 02 Feb 2024 | 12:37 AM IST

Budget 2024 Updates: Finance Minister Nirmala Sitharaman presented her sixth budget, an interim one on February 1, ahead of the Lok Sabha elections scheduled for this year

Updated On: 01 Feb 2024 | 5:36 PM IST

Prime Minister Narendra Modi last year launched the 'Lakhpati didi Yojana', which seeks to give training to women associated with self-help groups

Updated On: 01 Feb 2024 | 1:28 PM IST

Presenting the interim budget in Parliament, Sitharaman noted that India has over 80 chess grandmasters compared to about 20 in 2010.

Updated On: 01 Feb 2024 | 1:23 PM IST

Proposals will lead to safety and higher travel speed for passengers, says Finance Minister

Updated On: 01 Feb 2024 | 11:44 PM IST

Proposal will give 'some breather' business set up in GIFT city, she says

Updated On: 02 Feb 2024 | 1:20 AM IST

Interim Budget: FM Sitharaman said that the fiscal deficit in 2023-24 is expected to be 5.8%, lower than the earlier estimates of 5.9%

Updated On: 01 Feb 2024 | 12:35 PM IST

Ayushman Bharat - Pradhan Mantri Jan Aarogya Yojana was launched in 2018 and provides health coverage of Rs 5 lakh to over 500 million beneficiaries

Updated On: 01 Feb 2024 | 11:56 AM IST

The Centre has been successfully guarding the Union Budget every year till the finance minister presents it during the Budget session. Read on to find how they do it

Updated On: 01 Feb 2024 | 10:11 AM IST

Union Budget 2024 LIVE updates: FM Sitharaman in her Interim Budget speech stated the Centre is working towards making India 'viksit' by 2047. Catch the latest updates here

Updated On: 01 Feb 2024 | 11:39 PM IST

Cables and switch companies are expected to benefit from a fillip to housing construction activities and urban infrastructure, as per experts

Updated On: 31 Jan 2024 | 12:01 PM IST

A resolution praising Prime Minister Narendra Modi for the consecration of Ram temple in Ayodhya will be introduced during the budget session of the Gujarat assembly beginning February 1

Updated On: 31 Jan 2024 | 9:20 PM IST

A beginning has already been made with detailed planning for the Indian Railways

Updated On: 30 Jan 2024 | 6:45 PM IST

Union Finance Minister Nirmala Sitharaman is set to table the interim budget for 2024-25 on Thursday, February 1. Catch all the latest Budget 2024 updates here

Updated On: 30 Jan 2024 | 9:11 PM IST

Interim Budget: Nirmala Sitharaman has said that there may not be big announcements. However, various reports have suggested that there may be some changes in many of the Centre's schemes

Updated On: 24 Jan 2024 | 2:45 PM IST

Interim Budget 2024: Online gaming and esports industries have had an eventful 2023 owing to the GST Council's decision to impose a blanket 28% tax. Here's what the industries expect in the Budget

Updated On: 23 Jan 2024 | 11:32 AM IST

Budget 2024 time: The Union Budget is presented at 11 am on February 1 every year but it was not the practice earlier. Here's why it was changed and when

Updated On: 25 Jan 2024 | 10:28 AM IST

The government aims to propel economic growth with a higher capital expenditure target for central public sector enterprises (CPSEs) in the upcoming financial year

Updated On: 22 Jan 2024 | 12:18 PM IST

The project is estimated to cost Rs 7,500 crore and will extend from Rithala in Delhi to Kundli in Haryana, which is the sixth corridor of the phase IV project

Updated On: 19 Jan 2024 | 2:49 PM IST