Ajay R. Singh, Advocate

WISHING MEMBERS A HAPPY NEW YEAR , we reminiscent good memories and at the same time we begin the new year 2024 with lots of hopes and blessings.

The upcoming interim Union Budget on February 1, 2024, would be a vote-on-account before the 2024 general elections. While the finance minister may not make any major announcements, a few measures to provide interim relief to taxpayers, can be expected.

As per the code of conduct of the Election Commission of India, the outgoing government will not be allowed to propose any major tax and economy related policies to avoid its influence on electors. In addition, as the Finance Minister herself quoted, taxpayers will have to wait until the new government comes in July.

Vote-on-Account is a special provision by which the government obtains Parliament’s approval for funds sufficient to incur expenditure for a part of the year (till the formation of a new government) Interim Budget deals with both receipts and expenditure.

A regular full Budget is likely to be tabled in July after the newly elected government takes charge.

At AIFTP our constant endeavor is to introduce new features and include good contents in our journal. I also request our esteem readers to provide feedback and suggestions if any.

Wish you all A Very Happy Republic Day.


Ajay R. Singh