Difference between Vote on Account and the Vote on Credit
Vote on the Account:
- An account vote is only a temporary authorization to spend money against the total budget, a financial statement of spending and revenue, including changes to taxes and government policies.
- In an election year, the Government wishes to seek a vote instead of presenting a total budget.
- If the Government changes after the election, denying it the right to propose its budget for the remaining year is not good.
Vote on Credit:
- It is provided to meet an unexpected demand on resources of India where, owing to the scale or indeterminacy of the service, the need cannot be stated in detail typically provided in the budget.
- So it is like a blank check by the Lok Sabha given to the executive.
What is the difference between the vote on account and the vote on credit?
The difference between the vote on account and the vote on credit is that the Vote on Account refers to the Central Government's short-term expenditure needs. A vote on credit is a financial grant provided to executives to meet financial requirements urgently.