Finance Minister Sitharaman Kickstarts Budget Preparations With 'Halwa' Ceremony

New Delhi, Jul 17 (KNN) Union Finance Minister Nirmala Sitharaman today took part in the traditional 'halwa' ceremony held on Tuesday, signalling the commencement of the final stage of preparation for the Union Budget 2024-25. The budget is scheduled to be presented on July 23 in the Lok Sabha.

The 'halwa' ceremony is a long-standing ritual where the traditional dessert is prepared and served to finance ministry officials involved in budget preparation. This symbolic event took place in the basement of North Block, which houses the Finance Ministry in the national capital.

Following the ceremony, officials enter a 'lock-in' period, during which they stay in the North Block basement to maintain budget secrecy until its presentation. This practice ensures the confidentiality of the budget documents in the crucial days leading up to its unveiling.

This will be the fourth consecutive paperless budget, with all documents available on the "Union Budget Mobile App" for easy access. The shift to a digital format has modernised the budget process, making it more accessible to the public while maintaining its traditional significance.

The move to a digital format has also brought about practical changes, shortening the lock-in period from two weeks to just five days. This adaptation reflects the government's efforts to streamline the budget preparation process while preserving its core elements.

Ministers of State for Finance and other senior ministry officials were also present at the ceremony, underlining the collective effort involved in preparing the nation's annual financial statement.

The 'halwa' ceremony, a tradition that has survived despite other changes in budget presentation practices, serves as a gesture of appreciation for the hard work of finance ministry staff in preparing this crucial document.

(KNN Bureau)