Why India Has Two Budgets This Year
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Finance Minister Nirmala Sitharaman will table the Union Budget on July 23
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With that, she will become the first Finance Minister to deliver seven straight budgets, surpassing Morarji Desai
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India has two budgets this year due to the recent Lok Sabha elections
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The Interim Budget was a temporary measure to ensure continuous government funding until a new government took office
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The upcoming Full Budget outlines the detailed financial plan for the fiscal year, including revenue, spending, and economic policies
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The Interim Budget is a limited version, only covering essential expenses until the new government takes over
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In contrast, the full budget is a detailed financial plan, outlining the government's vision for the entire year
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This includes allocations for various sectors, tax proposals, and initiatives to boost economic growth
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The Budget session will commence on July 22 and run until August 12. The Budget 2024 will be presented on July 23
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