The Union Budget is presented annually on February 1 in the Lok Sabha. The Interim Budget is presented by the existing government before Lok Sabha elections.
The Union Budget undergoes detailed discussion and approval in the Lok Sabha. The Interim Budget is passed without detailed discussion.
The Union Budget announces new schemes and policies. The Interim Budget does not announce new schemes or policies.
The Union Budget allocates funds for the entire fiscal year (April 1 to March 31). The Interim Budget allocates funds for 3-4 months to cover expenses until the next election.
The Union Budget includes detailed revenue sources of the government. The Interim Budget does not provide detailed revenue sources.