Difference Between Interim Budget and Union Budget & Their Similarities

Introduction

The government of India has no constitutional provision to present the Interim Budget. Advocate Manohar Lal Sharma filed a petition in 2019, seeking to put down Interim Budget. The Indian government presents the Union Budget for a whole year and the Interim Budget for about two months till it takes to charge.

You can also find differences between articles on various topics that you need to know. Just tap on the quick link available and get to know the basic differences between them.

What is the Difference Between Interim Budget and Union Budget?

About Interim Budget

The Central Government of India presents the Interim Budget just before the general elections. However, there is no constitutional provision to present the interim budget. Without any discussion in the Lok Sabha, the Interim Budget gets passed.

In the Interim Budget, the annual income and expenses for the whole year are mentioned. Those of few more months are also mentioned till the next government takes charge. But, there can not be any mention of the sources of income in the Interim Budget.

About Union Budget

The annual budget presented in the Parliament by the Central Government of India is known as Union Budget. The passing of Union Budget is done after complete discussions in the Lok Sabha.

The first part of Union Budget deals with the income and expenses of the previous year. The other part deals with the government’s plan to raise funds through different measures and utilisation of those funds to develop our country.

Difference Between Interim Budget and Union Budget 1

Difference Between Interim Budget And Union Budget

Topic Interim Budget Union Budget
Time of Presentation Central Government of India presents the Interim Budget just before the general election. The annual budget that is presented in the Indian Parliament by the Indian government is Union Budget.
Discussion No discussion takes place in the Lok Sabha before the presentation of the Interim Budget. Complete discussions occur in the Lok Sabha before the passing of Union Budget.
Content In the Interim Budget, the annual income and expenses for the whole year are mentioned. The first part of Union Budget deals with the income and expenses of the previous year and the other part deals with the government’s plan to raise funds through different measures and utilisation of those funds for the development of India.

Difference Between Interim Budget and Union Budget 2

Similarities Between Interim Budget And Union Budget

  • Both of the Interim and Union Budgets are presented by the Central Government of India.
  • Interim and Union Budget both contain the income and expenditure of the previous year.
  • Union Budget is an annual budget. If another government takes 12 months to take charge, then Interim Budget will contain all the income and expenditure for the 12 months, i.e. a year.
  • Presentation of both Interim Budget and Union Budget takes place in the Parliament of India.

Frequently Asked Questions on Difference Between Interim Budget And Union Budget

Question:
What does Union Budget contain?

Answer:
Union Budget contains two parts. The first part of Union Budget deals with the income and expenses of the previous year. The other part deals with the government’s plan to raise funds through different measures and utilisation of those funds to develop our country.

Question:
Is there any constitutional provision to present the Interim Budget?

Answer:
No, there is no constitutional provision for India’s government to present the Interim Budget.

Question:
What is Union Budget?

Answer:
The annual budget presented in the Parliament by the Central Government of India is known as Union Budget.

Leave a Comment