Chidambaram presents interim budget in Lok Sabha

New Delhi, Feb.17: Finance Minister P. Chidambaram presented the interim budget in the Lok Sabha on Monday.

It is a vote-on-account authorizing the government to carry out expenditure on different heads till a regular budget is presented.

Ahead of the beginning of the parliament session early this month, Chidambaram had said that the government would tinker only in areas that are essential to revive the economic growth which might likely include some changes in excise and service taxes in the interim budget.

On Sunday, Chidambaram gave final touches to the interim budget or Vote On Account for fiscal 2014-15.

In an election year, India presents an interim budget to parliament for approval for planned expenditure for three to four months, but leaves it to the next government to announce major policy steps in a full-year budget after the polls. (ANI)