Economy
Enough Of Big Bang Reforms? No Major Announcements In Next Budget, "Wait Till July 2024", Says Nirmala Sitharaman
Nishtha Anushree
Dec 07, 2023, 04:11 PM | Updated Dec 14, 2023, 05:06 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Finance Minister Nirmala Sitharaman stated on Thursday (7 December) that the budget, which is set to be presented on 1 February 2024, will not contain any "spectacular announcement", NDTV reported.
"It is a matter of truth that budget will just be a vote on account because we will be in an election mode. So the budget that the government presents will just be to meet the expenditure of the government till a new government comes to play," she explained.
At the CII Global Economic Policy Forum, Sitharaman announced that the nation is gearing up for the Lok Sabha elections scheduled for the summer of 2024. Therefore, in accordance with the British tradition, the budget of 1 February is referred to as a vote on account.
Sitharaman stated that there won't be any remarkable announcements during the vote on account period. She further added that one would need to wait until the new government arrives and presents the subsequent comprehensive budget in July 2024.
Sitharaman is scheduled to present an interim budget for the fiscal year 2024-25, which begins on 1 April 2024, in the Lok Sabha on 1 February 2024.
The temporary budget, also referred to as a vote on account, gives the current government the ability to carry out expenses until a new government takes office following the general elections.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Nishtha Anushree is Senior Sub-editor at Swarajya. She tweets at @nishthaanushree.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.