Nirmala Sitharaman Promises ‘Spectacular Announcement’ in Budget 2024

New Delhi: Finance Minister Nirmala Sitharaman announced today that the budget to be presented on February 1, 2024 will not include any “spectacular announcement” due to it being a vote on account leading up to the general elections. Speaking at the CII Global Economic Policy Forum, Sitharaman explained that the budget will only cover the government’s expenses until a new government takes charge.

Sitharaman emphasized that the February 1, 2024 budget will be a vote on account in line with the British tradition, as the country will be focused on preparing for the Lok Sabha elections scheduled for the summer of 2024. She stated, “No spectacular announcements come in that time (in vote on account). So you will have to wait till after a new government comes in and presents the next full Budget in July 2024.”

On February 1, 2024, Sitharaman will present an interim budget for the fiscal year 2024-25, starting from April 1, 2024, in the Lok Sabha. This interim budget, also known as a vote on account, will enable the current government to undertake expenditures until a new government is formed after the general elections.