The visuals of Finance Minister Nirmala Sithraman holding the ‘Bahi Khata’ outside the Finance Ministry have surfaced. She is now on her way to the Parliament to present the Interim Budget 2024 in just a few moments.
No one can say with a 100% surety what announcements the Finance Minister has kept wrapped in red. A lot of secrecy surrounds the budget. And while it’s strictly confidential, one time in 1950, a portion of the Union Budget was leaked.
1950 Union Budget leak
Back in 1950, the printing of the budget used to be printed at the Rashtrapati Bhawan. That’s when a portion of the budget was leaked. Post this leak, the printing venue was shifted to a government press on Minto Road.
However, in 1980, a government press was set up in the basement of the North Block.
Interim Budget need
The Constitution does not have any provision for an Interim Budget presentation. Typically, an outgoing government presents the Interim Budget before Lok Sabha polls during the Budget session. Also known as a vote-on-account, the Interim Budget acts as a temporary financial plan, supporting the central government’s expenses until elections conclude and a new central government takes charge .Issued by the outgoing government, this budget is designed to guarantee the seamless continuation of vital government functions and services until the next administration assumes responsibility. The Interim Budget offers financial details for the transitional period. It is important to highlight that no major policies, that can burden the next government, can be announced in an Interim Budget.