Finance Minister Nirmala Sitharaman Wednesday observed the customary “Halwa ceremony” in North Block,which marks the final stage of the Budget preparation process for Interim Union Budget 2024. The ceremony marks the locks-in the process of budget preparation.
Finance Minister Nirmala Sitharaman initiated the final phase of Interim Union Budget 2024 preparation with the traditional “Halwa ceremony” at North Block on Wednesday. The customary event symbolizes the formalization of the budget process, as participants partake in the preparation of halwa, a sweet dish, whose distribution marks the sealing of the budget documents.
This age-old tradition, known as the “Halwa ceremony,” is a symbolic gesture that locks in the confidentiality and integrity of the budget until its official presentation. As the finance ministry gears up for the Union Budget, the ceremony underscores the significance of transparency and ritual in India’s fiscal planning. The forthcoming budget is highly anticipated as it holds key insights into the government’s economic vision and policy priorities for the upcoming financial year.
#WATCH | Delhi | The Halwa ceremony, marking the final stage of the Budget preparation process for Interim Union Budget 2024, was held in North Block, today, in the presence of Union Finance & Corporate Affairs Minister Nirmala Sitharaman and Union Minister of State for Finance… pic.twitter.com/wjoyI5QqQ3
— ANI (@ANI) January 24, 2024
Officials getting ready for the budget have to stay at their offices, following strict rules to prevent any budget details from being leaked.
This “lock-in” period ensures confidentiality. Just like the last three full Union Budgets, the Interim Union Budget 2024 will be presented digitally on February 1, 2024, without any paper copies. However, a few physical copies are printed for record-keeping purposes. This shift to a paperless approach aligns with modern practices, but the retention of physical copies serves as a backup and maintains a traditional record-keeping element in the budget presentation process.
The Finance Minister, along with other important officials like
•Finance Secretary T.V. Somanathan, •Economic Affairs Secretary Ajay Seth
others such as Revenue Secretary Sanjay Malhotra,
•DIPAM Secretary Tuhin Kanta Pandey
•CBDT Chairman Nitin Gupta
•CBIC Chairman Sanjay Kumar Agarwal
•Additional Secretary (Budget)Ashish Vachhani
They were joined by various other officials and staff from the Ministry of Finance who play crucial roles in preparing and compiling the budget. This team collectively contributes to the process of putting together the budget, ensuring that all aspects are considered and the financial plan is comprehensive.
Aastha Kumari 
Dhairya Saraswat