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Which of the following is not true about vote-on-account‘?
the parliament for essential spending for a limited period, the first four months of the fiscal year in which the elections are scheduled
It does not allow the Government to set for the economic policies of the new plan which starts from April1
It prevents the Government from imposing fresh taxes or withdrawing old one
This allows the Government to withdraw the amount for a period only with the consent of parliament
Option D is incorrect.
The Interim Budget is also known as a vote-on-account or approval, which the government seeks from the parliament for essential spending for a limited period, the first four months of the fiscal year in which the elections are scheduled. The full-fledged budget is then presented by the new government.Essentially, vote on account is the interim permission of the parliament to the government to spend money.
Vote on account is a formality and requires no debate.
A vote-on-account cannot alter direct taxes since they need to be passed through a finance bill. Under the regular Budget, fresh taxes may be imposed and old ones may go.
A vote on account allows the Government to withdraw an amount for a period without the consent of Parliament.
By: Parvesh Mehta ProfileResourcesReport error
Parveen Bansal
corrected
Dayanand Prakash
Confusion in explaination and question asked not correct
Gobinath L
the question was about not correct
Yes, Option 1st is incorrect.
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