Union Finance Minister Nirmala Sitharaman reached Rashtrapati Bhawan to call on President Droupadi Murmu before presenting the interim Union Budget for 2024 in Lok Sabha.
The FM will also attend the Union cabinet meeting and then present the budget at around 11 a.m.
Sitharaman will also lay a statement of the estimated receipts and expenditure of the government in the interim budget.
An interim budget serves as a temporary measure, often lacking extensive policy considerations, and typically earmarks funds for crucial government operations over a brief period. Consequently, it undergoes less scrutiny and debate in Parliament.
In contrast, the annual Union Budget is a much more thorough financial blueprint, encompassing all facets of expenditure, fund distribution, and revenue generation for the entire fiscal year.
Lok Sabha elections are scheduled this year.