Budget 2024: Why the Budget is presented on February 1?

Union Finance Minister Nirmala Sitharaman is set to present the Interim Union Budget 2024 on February 1. The traditional budget presentation date has been February 28 (or 29 in a leap year), but the change in date to February 1 was instituted in 2017 during Arun Jaitley's tenure as the finance minister. The practice has since continued.