Govt going for vote on account on Feb 1, no big bang announcements: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has mentioned that the upcoming Union Budget on February 1, 2024 to be offered in Parliament forward of the Lok Sabha elections is not going to be a daily finances however solely a vote on account so the federal government will not be more likely to make any “spectacular bulletins”.

The vote on account is an interim finances via which the incumbent authorities seeks Parliament’s approval for expenditure required to run the nation until the brand new authorities takes over.

Speaking on the CII’s Global Economic Policy Forum 2023 within the nationwide capital, Sitharaman mentioned, “I do not need to be a spoilsport, however the 1st February Budget is only a vote on account; a finances to satisfy expenditure until the following authorities involves energy. No spectacular bulletins. You must wait until after the overall election.”

Talking about international financial coverage, Sitharaman mentioned there was a necessity for international engagement on progress and it’s essential to hold momentum on issues of the Global South.

She mentioned that the price of transition power is a priority and EU’s carbon tax norms towards the worldwide south are morally inappropriate.

(With inputs from IANS)