Union Budget Preparations Begin In North Block With Halwa Ceremony
Date
1/25/2025 2:15:45 PM
(MENAFN- KNN India)
New Delhi, Jan 25 (KNN) Finance Minister Nirmala Sitharaman marked the final phase of the Union Budget 2025-26 preparations by participating in the traditional 'halwa' ceremony on Friday.
Held in the Finance Ministry's basement at North Block, this ceremony signifies the commencement of the 'lock-in' period, ensuring strict confidentiality until the Budget presentation on February 1 in the Lok Sabha.
The 'halwa' ceremony, a symbolic gesture of appreciation, involved the preparation and distribution of the traditional Indian dessert among the ministry's officials.
This marks a send-off for the officials and staff, who will remain sequestered in North Block's basement until the Finance Minister concludes her Budget speech.
This practice underscores the importance of secrecy in budget-making, which spans the printing, review, and finalization processes.
During the ceremony, Sitharaman reviewed the ministry's preparations and extended her best wishes to the officials. Accompanying her were key figures such as Minister of State for Finance Pankaj Chaudhary, Finance Secretary Tuhin Kanta Pandey, and Economic Affairs Secretary Ajay Seth.
This will be Sitharaman's eighth consecutive budget presentation. The upcoming budget assumes significance against a backdrop of moderated GDP growth, projected at 6.4 per cent for FY2025 compared to the previous year's 8.2 per cent.
The halwa ceremony also highlights the evolution of budget traditions. While the printing of physical documents has largely been phased out in favor of digital distribution via the Union Budget Mobile App and official websites, the ceremony remains a preserved ritual.
Previously, budget documents were printed at Rashtrapati Bhavan before being moved to North Block in 1980. The digitisation initiative launched in 2021 has reduced the lock-in period from two weeks to just five days.
Despite modernisation and reforms, the halwa ceremony continues to serve as a poignant reminder of the collaborative efforts behind India's financial roadmap, uniting tradition with the country's economic aspirations.
(KNN Bureau)
MENAFN25012025000155011030ID1109128775
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.