As a professor of finance, I would like to introduce you to the concept of Vote on Account. This refers to a pre-approved budget allocation by the Parliament for the outgoing government to cover its expenses during their remaining term in office. This allows for smooth functioning of the government without waiting for the full budget to be passed. It is an important tool in maintaining financial stability and ensuring continuity in governance. Understanding this term will provide valuable insight into the workings of our government's financial management.
