Budget 2024-25: Nirmala Sitharaman engages in pre-Budget talks with small businesses

Finance and Corporate Affairs Minister Nirmala Sitharaman engaged in pre-Budget discussions with a group of representatives from the Ministry of Micro, Small and Medium Enterprises (MSME) space, Zee Business learned from sources.    

A range of topics were likely discussed in the pre-Budget meeting.

Meanwhile, the full Budget for the current financial year, which ends on March 31, 2025, is expected to be presented in Parliament in July. 

What is the difference between a Vote on Account and a full-year Budget?

A vote on account is a temporary provision for a government to meet its expenses in an election year and is followed by a full-year Budget by a new government that assumes office after the election. 

A full-year budget outlines the government's revenue and expenditure for the entire fiscal year, including detailed allocations for various sectors, new initiatives, and policy changes.

The main difference between a Vote on Account and a full-year Budget lies in the duration and scope of financial planning between the two mechanisms.

With inputs from agencies