The Union Budget is a yearly financial plan presented by the government, outlining its income and expenses for the upcoming fiscal year.
As we have a Lok Sabha election this year, where there would be formation of a new government, so an interim budget is a temporary financial plan presented by the government to manage expenses until a full budget is approved.
Despite this being a major event, since it is the interim budget, we may not see large price movements. Traders, especially option traders: Better to be careful and hedge your positions for unexpected volatility