"It is a matter of truth that the February 1, 2024, Budget that will be announced will just be a vote on an account because we will be in election mode. So, the Budget that the government presents will just be to meet the expenditure of the government till a new government comes into play," she said speaking at the CII Global Economic Policy Forum.
Sitharaman said the country would be preparing for the Lok Sabha elections due in April-May 2024.
In the interim Budget in 2019 ahead of general elections, the government had announced tax sops for the lower and middle-class people by exempting income tax on people earning less than from 2,50,000/annum.
The finance ministry had earlier asked all the government departments to submit well-thought-out expenditure proposals for the first six months of the next financial year to avoid fund shortages before the full Budget is approved by Parliament next year.
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