Union Finance Minister Nirmala Sitharaman is set to present the Interim Budget today at 11am. Ahead of the Interim Budget, President Droupadi Murmu highlighted that India has maintained its position as the fastest-growing major economy, saying, “The year 2023 was a historic year for India when it grew the fastest among major economies despite the global crisis. India grew about 7.5 per cent for two consecutive quarters.”
What is an Interim Budget?
During an election year, the incumbent government cannot present a full budget. Therefore, an Interim Budget- that covers the government's expenses and revenues for a short period- is presented.
What is included in the Interim Budget?
The Interim Budget includes estimates for the government's expenditure, revenue, fiscal deficit, financial performance and projections for just a few months.
What is the Union Budget?
The Union Budget is the annual financial statement with the estimated costs and expenses of the government for the financial year.
When will the full Budget released?
After the Lok Sabha elections, the new government presents a full Budget.