UPSC CSE Prelims 2011 Q74 — Indian Economy PYQ with Answer

What is the difference between "vote-on-account" and "interim budget"?

1. The provision of a "vote-on-account" is used by a regular Government, while an "interim budget" is a provision used by a caretaker Government.

2. A "vote-on-account" only deals with the expenditure in Government's budget, while an "interim budget" includes both expenditure and receipts.

Which of the statements given above is/are correct?