Mumbai, January 30: Budget 2024 will be presented by Finance Minister Nirmala Sitaraman at 11 am on February 1. The Union Budget being presented will be an Interim Budget as India preps for the General Elections of 2024. During the election year, the Union Budget that is presented by the current government is a temporary spending guide that will be supported by the final Union Budget - which will be presented by the newly elected government in June.

As we prepare to witness the Interim Budget 2024 presented by Nirmala Sitaraman, here is everything you need to know about the Interim Budget, the previous Interim Budget presented by this government and who presented it. Union Budget 2024-25: What is an Interim Budget? How is It Different From a Regular Budget? All You Need to Know.

When was the last Interim Budget presented?

An Interim Budget is presented in the year when India faces a General Election. Due to this, the last Interim Budget was presented in India back in 2019. The last Interim Budget was presented by Piyush Goyal - who is currently the Minister of Commerce & Industry.

Who presented the Interim Budget 2019

The Interim Budget is presented by the finance minister. While the finance minister of India in 2019 was the Late Mr Arun Jaitley, the previous Interim Budget was presented by Piyush Goyal in lieu of Mr Jaitley’s ill health. Mr Goyal was holding the additional charge of the ministry due to the ill health of Jaitley, and presented the interim budget for 2019-20 on February 1, 2019. Union Budget 2024: From Changes in Income Tax Slabs to Additional Allowances, List of Changes Salaried Class Expects From the Interim Budget This Year.

It is interesting to note that by presenting the Interim Budget 2024, Nirmala Sitaraman will equal the accord held by Morarji Desai of presenting six consecutive budgets. Even though Budget 2024 is an Interim Budget, the expectations from this budget are high, and it is believed to set the tone for the areas of focus for the coming year.

(The above story first appeared on LatestLY on Jan 30, 2024 09:49 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).