What is an Interim Budget? Is it different from a full-year Budget?

What is an Interim Budget?

Also known as a Vote on Account, an Interim Budget is a Budget presented by the government for a short period, usually before the general elections.

What’s the difference between an Interim Budget and a full-year Budget?

An Interim Budget is different from a normal Union Budget as it is a temporary budget that covers the expenses for a limited period.

What’s the purpose of an Interim Budget?

The main purpose of an Interim Budget is to provide the government with funds to carry out essential functions until a full-fledged Budget is presented by the new government..

Who presents the Interim Budget?

Just like a normal Union Budget, the Interim Budget is usually presented by the finance minister of the outgoing government. It focuses on maintaining stability and continuity in the government's financial operations.

What is a full-year Budget?

While a normal, full-year Union Budget outlines the government's financial plans for the entire fiscal year ahead, an Interim Budget is a stop-gap arrangement to ensure smooth functioning until a new government takes charge.

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