{"id":41205,"date":"2019-01-28T17:48:50","date_gmt":"2019-01-28T12:18:50","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=41205"},"modified":"2019-01-28T17:48:50","modified_gmt":"2019-01-28T12:18:50","slug":"whats-the-difference-between-a-full-budget-and-an-interim-budget","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/whats-the-difference-between-a-full-budget-and-an-interim-budget\/","title":{"rendered":"What\u2019s the difference between a full Budget and an interim Budget?"},"content":{"rendered":"<p><a href=\"https:\/\/indianexpress.com\/article\/explained\/simply-put-full-budget-interim-budget-p-chidambaram-arun-jaitley-yashwant-sinha-pranab-mukherjee-5557243\/\"><strong>What\u2019s the difference between a full Budget and an interim Budget?<\/strong><\/a><\/p>\n<p><strong><em>What is interim budget?<\/em><\/strong><\/p>\n<p>A vote on account or interim Budget, means that the government seeks the approval of Parliament for meeting expenditure for the first four months of the fiscal year (April-March) with no changes in the taxation structure. The estimates are presented for the entire year, as is the case with the regular Budget<\/p>\n<p><strong><em>When is an interim budget presented?<\/em><\/strong><\/p>\n<ul>\n<li>The government of the day presents an interim budget if it does not have the time to present a full Budget or because national elections may be near.<\/li>\n<li>In the latter situation, propriety demands that the task of framing the full Budget be left to the incoming government.<\/li>\n<\/ul>\n<p><strong><em>What is difference between full budget and interim budget?<\/em><\/strong><\/p>\n<ul>\n<li>A full budget is the presentation of annual finances of the government, change in existing tax slabs, announcement of new schemes and sops for different sectors of the economy.<\/li>\n<li>However, in case of an interim budget, change in tax slabs are not made and no new schemes are announced; only finance estimates are presented. In case of an election year, the incoming government has full freedom to change the estimates completely when the final Budget is presented.<\/li>\n<\/ul>\n<p><strong><em>Background<\/em><\/strong><\/p>\n<ul>\n<li>In 1948, erstwhile Finance Minister R K Shanmukham Chetty presented a vote on account and followed it up with Independent India\u2019s first regular budget.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What\u2019s the difference between a full Budget and an interim Budget? What is interim budget? A vote on account or interim Budget, means that the government seeks the approval of Parliament for meeting expenditure for the first four months of the fiscal year (April-March) with no changes in the taxation structure. The estimates are presented&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/whats-the-difference-between-a-full-budget-and-an-interim-budget\/\">Continue reading <span class=\"screen-reader-text\">What\u2019s the difference between a full Budget and an interim Budget?<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-41205","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1702688006},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/41205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=41205"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/41205\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=41205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=41205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=41205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}