Indian Finance Minister Nirmala Sitharaman has said that the upcoming Union Budget on February 1, 2024 to be presented in Parliament ahead of the Lok Sabha elections will not be a regular budget but only a vote on account so the government is not likely to make any "spectacular announcements".
In line with tradition, the upcoming budget by the Modi government is expected to be an interim budget as the Lok Sabha elections are scheduled for early next year. The full budget for the financial year 2024-25 will be presented after the formation of the new government following the general elections. Union Finance Minister Nirmala Sitharaman clarified today that the Vote on Account does not include any significant announcements.