In the wake of the Lok Sabha Elections 2024, the existing Finance Minister is all set to present an Interim Budget 2024-2025. The last interim budget was presented in 2019 by Piyush Goyal, the former Finance Minister. It is worth noting that the former Finance Minister used 8,119 words in his speech while presenting the interim budget. It was also known as the second-longest interim budget speech as the first one was presented in 1947 by RK Shanmukham Chetty. People are keen to know what will be listed in the forthcoming Interim Budget and where they can watch the live speech of FM Nirmala Sitharaman.

Contents

What Is The Date And Time Of Interim Budget 2024-2025?What Is The Interim Budget?Another Interesting Fact Of The Interim Budget And Where To Read?Other Important Dates

What Is The Date And Time Of Interim Budget 2024-2025?

As we mentioned above, the date for presenting the interim budget has been decided to be the first week of February 2024. That means the Interim Budget 2024-2025 will be presented on 1st Feb 2024 and it is expected to start at 11:00 AM. Now, those who are interested in watching the Budget’s live speech of the existing FM can find it on the official channel of Parliament and as well as on the website of Times of India. It is worth noting that, Budget 2024 is the 6th Budget presented by FM Nirmala Sitharaman and she will list out the budgetary allocations.

What Is The Interim Budget?

This term may not be new for many people but there are certain people who are quite confused regarding this subject. What exactly is the Interim Budget, how does it work and how is it different from the Union budget? This question is surely in the minds of many people who want to know why the central government is presenting this budget. The Interim Budget is also known as “Vote on Account. It is basically a vote on an account that contains just the expenses of the government but the dealing in Interim Budget is slightly different as it deals with receipts and payments.

Simply said, the Interim Budget is merely a summary of the expenses and income of the previous year whereas the Union Budget is set for a whole fiscal year. The reason behind presenting the interim budget is due to General elections. Once the election is done, the new central government will present a full-fledged Budget for an entire fiscal year. This means the interim budget will be effective till 31st March 2024. In the upcoming interim budget, FM Nirmala Sitharaman will list out the budgetary allocations and expected revenue collections.

Another Interesting Fact Of The Interim Budget And Where To Read?

According to the reports, this year FM Sitharaman will present the Interim Budget in a “paperless form”. Now those who want to find the Budget 2024, can find it on the “Union Budget Mobile App”. All the required documents related to the Interim Budget such as Demand for Grants (DG), the Annual Financial Statement and the Finance Bill will be easily accessible to read on the UBM app. It is available in both English and Hindi languages. The new Interim Budget documents will be available to read after the conclusion of the Budget Speech in Parliament.

The other reports state that the Budget 2024 session will commence in the last week of January and it will be extended until April.