Finance Minister Nirmala Sitharaman will unveil the Interim Budget for the financial year 2024-2025 (FY25) on February 1, 2024, which is likely to keep the focus on fiscal consolidation and nominal economic growth projection and may not involve any major policy changes.
Since 2024 is an election year, with Lok Sabha Elections expected in April-May, the finance minister will present an Interim Budget or a Vote on Account in February, rather than a comprehensive annual budget. After the formation of the new government, the new full Budget is expected in July this year.
Sitharaman’s declaration that it will be a vote of account suggests that no significant policy announcements are likely expected in this interim…