The state of Telangana is preparing to present its full budget at the end of July, ahead of the expiration of the Vote-on-Account. With the Central Government yet to announce the date for its budget presentation, the state government faces uncertainty and has only the figures from the interim budget to rely on.
As the expiration of the Vote-on-Account Budget approaches, the state government is compelled to present the full budget by the end of July to ensure fiscal continuity and compliance.
The Vote on Account is a provision under Article 116 of the Indian Constitution that allows the government to withdraw funds from the Consolidated Fund of India to meet its expenditure requirements for a limited period, usually a few months. This interim arrangement ensures the continuity of essential government functions and public services until a comprehensive budget is presented and approved by the legislature.
Earlier this year, the state government presented a vote-on-account budget with an outlay of ₹2.75 lakh crore. This interim budget, approved for a four-month period ending in July, requires legislative approval for the remaining eight months of the fiscal year. Thus, the state government is set to present the full budget on July 31, 2024 (tentative).
The date is tentative as there is no official confirmation received.
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