Budget 2024: Finance Minister Nirmala Sitharaman made it clear, there will be no big announcements in the budget, will have to wait.

Lok Sabha elections are to be held in 2024. BJP is trying to form the government under the leadership of Prime Minister Narendra Modi for the third consecutive time. The Prime Minister himself has mentioned many times that we will win in 2024 also. In such a situation, speculations are going on regarding many big announcements in the budget to be presented in February 2024. This tradition is continuing in India that attractive promises are made in the election year budget. Finance Minister Nirmala Sitharaman has said a big thing regarding this.

Finance Minister Nirmala Sitharaman said there will be no “spectacular announcements” in the Budget to be presented on February 1, 2024 as it will be a Vote on Account before the general elections. He said that it is true that the budget that will be announced on February 1, 2024 will be only ‘vote on account’ because we will be preparing for elections. Therefore, the budget presented by the government will be only to meet the government expenses until a new government is formed.

Speaking during the Global Economic Policy Forum 2023 organized by the Confederation of Indian Industry (CII) and the Finance Ministry, Sitharaman said the country would then be preparing for the Lok Sabha elections to be held in the summer of 2024. Following British tradition, the February 1 budget will be called ‘Vote on Account’. Sitharaman said, “There is no major announcement at that (election) time (in vote on account). Therefore, you will have to wait till the new government comes and presents the next full budget in July 2024.