Budget 2024: What is halwa ceremony? Final stage preparations for Interim Budget begin – FAQs answered | Business – Times of India

by The Technical Blogs

Budget 2024: Finance Minister Nirmala Sitharaman will present the Interim Union Budget for the financial year 2024-25 on February 1 as part of the Parliament’s Budget session. Ahead of the Union Budget 2024 presentation, the halwa ceremony was performed at the North Block on Wednesday.

What is the halwa ceremony for Budget?

The Halwa ceremony is performed around a week ahead of the Union Budget presentation every year.This important ceremony signals the final phase of Union Budget preparation. This traditional ceremony precedes the “lock-in” phase of budget preparation each year.
Union Finance & Corporate Affairs Minister Nirmala Sitharaman and Union Minister of State for Finance Dr. Bhagwat Kisanrao Karad presided over the event on Wednesday. During the halwa ceremony, the Finance Minister, along with key officials, including Finance Secretary Dr. T.V. Somanathan, reviewed the preparations for the upcoming Budget presentation.

According to the Ministry of Finance, similar to the past three full Union Budgets, the Interim Union Budget 2024 will also be presented in a paperless format.

All budget documents, including the Annual Financial Statement and Finance Bill, will be accessible on the “Union Budget Mobile App.” This bilingual app (English & Hindi) will be available on Android and iOS platforms, ensuring easy access for Members of Parliament and the public. The app can be downloaded from the Union Budget Web Portal.

After the Union Finance Minister delivers the Budget Speech on February 1, 2024, the Budget documents will be accessible on the Mobile App.

Budget 2024 Halwa Ceremony FAQs:

Why is halwa made during the Budget?
According to Indian traditions, sweets are served on special occasions and the halwa ceremony is done to honour the upcoming presentation of the Budget. Also, it marks a lock-in period for the Finance Ministry officials involved in the Budget making process. These officials distance themselves from other officials and family members to preserve the confidentiality of the Budget document.

What is the Budget date 2024?
The Interim Budget 2024 will be presented by the Finance Minister Nirmala Sitharaman on February 1, 2024.

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