1. Vote on Account vs Interim budget
VOTE ON ACCOUNT
INTERIM BUDGET
Deals with both income (taxation) part and
only presents demand for Expenditure part.
Expenditure part. + annual financial
(i.e. allow government to spend money from
statement showing incoming and outgoing
CFI, until budget is passed)
money of the government.
many articles applicable
•
112: have to put annual financial
statement
•
265: have to
put finance bill (to get parliament’s
only one article applicable: 116(2)
permission to collect taxes)
•
266: have to put
appropriation bill (to get
parliament’s permission to spend
money from consolidated fund of
India)
Both houses involved. Because Art 112:
Only Lok Sabha has Decision Making
Annual financial statement has to be laid in
power here. Because art 116(2) specifically both houses Lok Sabha and Rajya
says “House of people” can grant such
Sabha.although Rajya Sabha doesn’t really
have any Decision Making power here
money.
either, but they could stall it for 14 days.
th
Asks parliament to grant 1/6 of the total
Asks parliament to grant entire money for
estimated expenditure
total estimated expenditure.
If the new Government doesn’t give new
(full) budget after election, then Interim
Validity: 2 months
budget’s provision remain valid for the
whole financial year i.e. 1st April 2014 to
31st March 2015.
done in non-election years and election
only during election years/extreme situation.
years.
interim budget contains vote on account.
(Because here also, budget presented in Feb,
while passed somewhere in late April/May.)
Vote on account doesn’t contain interim
so government needs money in between.
budget.
However, the vote on account will be of
longer duration e.g. 3-4 months. (than
during normal full budget years.)