No spectacular announcements on Feb. 1, 2024: FM

‘Because we are in election mode and the elections happen during the coming summer. So, the Budget that the government presents would just be to meet with the expenditure of the government till a new government comes to play,” said Nirmala Sitharaman. | Photo Credit: -

Finance Minister Nirmala Sitharaman on Thursday sought to moderate industry expectations from the upcoming Budget for 2024-25, by underlining that she will only announce a ‘vote on account’ interim Budget on February 1 next year. 

“Because we are in election mode and the elections happen during the coming summer. So the Budget that the government presents would just be to meet with the expenditure of the government till a new government comes to play… so no spectacular announcements are made that time,” Ms. Sitharaman said at the CII Global Economic Policy Summit. 

“You may have to wait till after the new government comes in and the next full Budget will July 2024. So things have to wait till then,” the Minister said, in response to a query from a Singapore-based investor on what to expect from the next Budget.