Vote On Account Is Prepared By Incumbent Government To Meet Its Expenses Till New Govt Takes Over


Finance Minister P Chidambaram tabled down Vote-on-Account in the Parliament today.
Unlike past years, Chidambaram presented Vote-on-Account this time rather than a Full Budget.
For all those unfamiliar with the term ‘Vote-on-Account’, here is a small article clearly differentiating the former from ‘Full Budget’.
As the incumbent government lacks adequate time in order to vote for a full budget before the new financial year begins, Vote-on-Account is a temporary fiscal measure which guarantees enough funds are at disposal of the incumbent government so that it can run the country, till the time fresh government takes seat after elections.

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