Budget 2024: What is 'halwa ceremony'? Why it is important? What is Lock-In period?

NewsBharati 25-Jan-2024 12:47:06 PM

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The customary 'halwa ceremony' was held in North Block, Delhi on Wednesday, to mark the beginning of the compilation of documents for the Budget 2024. Finance Minister Nirmala Sitharaman and Union Minister of State for Finance Bhagwat Kisanrao Karad participated in the ceremony, a precursor to the budget presentation scheduled for February 1.

nirmala sitharaman halwa ceremony budget 2024

What is the 'halwa ceremony'?

The 'halwa ceremony' is a tradition observed five days before the union budget presentation at the Parliament every year. It involves the preparation and serving of "halwa" to officials and staff involved in the budget's preparation. Nirmala Sitharaman has actively participated in this tradition, even being photographed stirring the Indian dessert during its preparation.

Some more glimpses of the #HalwaCeremony2024 at the Budget Press in North Block, New Delhi. (2/2) pic.twitter.com/DDb9abxQOk
— Ministry of Finance (@FinMinIndia) January 24, 2024

Why is the 'halwa ceremony' important?

It is a gesture of appreciation for the individuals dedicated to the budget process. Additionally, it marks the beginning of the "lock-in" period preceding the budget presentation, during which top officials isolate themselves within the ministry premises to maintain the confidentiality of the final budget document.

Also Read: Budget 2024: What is Interim Budget? How is it different from Union Budget?

Top officials, including Finance Secretary T.V. Somanathan, Economic Affairs Secretary Ajay Seth, Secretary of Dipam Tuhin Kanta Pandey, Revenue Secretary Sanjay Malhotra, CBIC Chairman Sanjay Kumar Agarwal, CBDT Chairman Nitin Kumar Gupta, and other staff involved in the budget preparation, attended the ceremony.

Union Budget 2024

This year, Union Budget 2024 will be an interim budget rather than a full budget, as general elections are scheduled for April-May 2024. As part of the ceremony, Finance Minister Sitharaman also toured the Budget Press, reviewing preparations and extending her best wishes to the officials involved.