Consider the following statements regarding the 'Vote on Account' and the 'Interim Budget' in India: 1. A Vote on Account deals exclusively with the expenditure side of the government's budget, whereas an Interim Budget includes details of both receipts and expenditures. 2. The provision for a Vote on Account can be utilized by both permanent and temporary governments. Which of the statements given above is/are correct?

Explanation

Statement 1 is correct: A Vote on Account is passed solely to arrange funds for the government's expenditures when the budget process is not completed before the start of the new financial year. In contrast, an Interim Budget is similar to a regular budget and contains full details of both expenditures and receipts, presented during an election year. Statement 2 is correct: Since any government might face a situation where the budget process is delayed, the provision for a Vote on Account can be made by both permanent and temporary (caretaker) governments.