Finance Minister Nirmala Sitharaman is slated to present her sixth Union Budget in Parliament on February 1, 2024. The Finance Minister has already said that there would be "no spectacular announcements" in the Budget 2024 given that it is an interim budget, also known as 'vote on account'.
“It is a matter of truth that the February 1, 2024 Budget that will be announced will just be a vote-on-account because we are in an election mode and election happens during the coming summer... So the Budget that the government presents would just be a Budget to meet the expenditure of the government till a new government comes to play... You may have to wait till after the new government comes in. In July 2024, there will be the next full Budget. So things have to wait till then,” the Finance Minister said at an event.
An interim Budget is a Budget that a government presents just to meet its expenditure until the polls to elect a new government.
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Before the big day on February 1, 2024, here is a glance at the whole math of where India spends its money generated from various means:
Union Budget 2022-23 details the source of every rupee it spends as follows:
Category
Amount (in paisa)
Central sector scheme (excluding capital outlay on defence and subsidy)
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