Interim Budget, also known as ‘a vote on account’, essentially means that the government seeks the approval of Parliament for meeting expenditure for the first four months of the fisca
l year (April-March) — paying salaries, ongoing programmes in various sectors etc — with no changes in the taxation structure, until a new government takes over and presents a full Budget that is revised for the full fiscal.
However, over the years, some governments have made policy announcements or tweaked tax rates in the vote on account. The reasoning is that there is little time to get approvals from Parliament for various grants to ministries and departments and to debate these as well as any provisions for changes in taxation.
More important reasoning is that it would be the prerogative of the new government to signal its policy direction, which is often reflected in the Budget.
Final Destination for Haryana PSC Notes and Tests, Exclusive coverage of HPSC Prelims and Mains Syllabus, Dedicated Staff and guidence for HPSC Exams HPSC Notes brings Prelims and Mains programs for HPSC Prelims and HPSC Mains Exam preparation. Various Programs initiated by HPSC Notes are as follows:-- HPSC Mains Tests and Notes Program
- HPSC Prelims Exam 2024- Test Series and Notes Program
- HPSC Prelims and Mains Tests Series and Notes Program
- HPSC Detailed Complete Prelims Notes