Consider the following statements regarding the difference between a 'Vote on Account' and an 'Interim Budget':
1. While a Vote on Account is concerned only with the expenditure side of the government's budget, an Interim Budget incorporates both receipts and expenditures.
2. A regular government never utilizes a Vote on Account, whereas a caretaker government strictly utilizes an Interim Budget.
Which of the statements given above is/are correct?

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Accepted Answer

Statement 1 is correct because a Vote on Account is a temporary authorization to withdraw funds from the Consolidated Fund of India to cover expenditure for a limited period, while an Interim Budget is a complete budget statement containing details of both estimated receipts and expenditures. Statement 2 is incorrect because both regular and caretaker governments can utilize these provisions depending on political and electoral circumstances.

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