New Delhi, Feb 1 (IANS): The Cabinet, chaired by Prime Minister Narendra Modi, has approved the interim budget on Thursday.

Finance Minister Nirmala Sitharaman is now presenting the interim budget in the Lok Sabha. She reached her ministry where she had a photo session with his budget preparation team. She along with Minister of State for Finance Pankaj Chaudhary and Minister of State for Finance Bhagwat Karad and senior officials of the ministry went to Rashtrapati Bhavan and took the approval of President Draupadi Murmu on the interim budget.

After securing President Draupadi Murmu's assent to the interim budget, the Finance Minister reached Parliament House along with her two ministers of state where the interim budget was approved in the Union Cabinet meeting chaired by Prime Minister Narendra Modi.

This is the last budget of the second term of the Modi government. It is believed that Sitharaman can make many important announcements regarding women, youth, farmers and the poor in her interim budget.

Modi has already said that when elections are near, the full budget is usually not kept. Following the same tradition, his government will also bring the full budget only after the formation of the new government. He had said Sitharaman will present the interim budget with some guidelines.