What is the difference between “vote on account” and “interim budget”?

1. The provision of a “vote-on-account” is used by a regular Government, while an “interim budget” is a provision used by a caretaker Government.
2. A “vote-on-account” only deals with the expenditure in Government's budget, while an “interim budget” includes both expenditure and receipts.

Which of the statements given above is/ are correct?

During an election year it is not practical for the ruling Government or for the new Government taking charge after the elections to prepare or debate on the full budget and pass it before the new financial year begins. Hence, the outgoing Government would announce an interim budget or vote on account in February which will be followed by a full budget by the new Government in a few months\' time after the elections. The Interim Budget will include a report card on the income and expenses made last year and the proposed expenses likely to be made in the next few months until the new government takes over. Vote on account empower Lok Sabha to make any grant in advance for part of any financial year, pending the completion of the budgetary process. Normally the vote on account is taken for two months and is passed by the Lok Sabha without discussion.