Business

IIE Digital Desk: Budget 2024: Finance Minister Nirmala Sitharaman is all set to present the budget on February 1. On the run up to the general elections that is expected to be held in April/May, this budget will be an interim budget.

Interim Budget

Interim Budget is expected to laydown the financial roadmap for the initial months of the fiscal year. The budget aims only to ensure continuity of government operations until the post-election formation of a new government and will not contain any populist announcement.

Finance Minister Nirmala Sitharaman too had confirmed that the upcoming February 1 Interim Budget for the fiscal year 2024-25 won't feature any major announcements while emphasizing its nature as a vote-on-account.

Things to not expect

As per IndiaToday.in's compilation, these 5 things won't feature in the interim budget

Major Policy Changes - The Finance Minister is unlikely to present any groundbreaking policy changes or financial overhauls since this is an interim budget.

Income Tax Relief - Major reforms in tax structure is usually seen in full budgets

New Welfare schemes - Launching new, large-scale welfare programs is unlikely during an interim budget, however, social schemes will continue to be a focus

Aggressive Fiscal Consolidation - Extensive fiscal consolidation measures is unlikely to be introduced

New Financial Regulation - Interim budget will not have any major financial regulation or introduce any complex financial regulatory frameworks