Union Budget 2024: What Is The Significance of Halwa Ceremony?

New Delhi: The traditional 'Halwa Ceremony,’ marking the final stage of the Budget preparation process for Union Budget 2024, was held in North Block on Tuesday, in the presence of Union Finance Minister Nirmala Sitharaman. 

The customary ceremony, which also marks the final stage of compiling the Union Budget begins with the Finance Minister stirring the halwa in the kadhai and then serving it to the colleagues of the ministry in the office. 

Video: Finance Minister performs halwa ceremony 

What is the halwa ceremony? 

The halwa ceremony is a tradition performed every year ahead of the budget and it marks the final stage of preparing the plan for the upcoming financial year. After the ceremony, the budget documents are usually prepared. Earlier the documents were being printed on paper, but in the wake of COVID-19, the process changed in 2021 and the budget became paperless. 

However, in 2022 the ceremony was skipped due to the COVID pandemic. The budget documents will be available in the Union Budget Mobile App, launched to allow hassle-free access of Budget documents by Members of Parliament (MPs) and other citizens of the country after it is presented by the finance minister. 

Union Budget 2024: What is the significance of halwa ceremony?

The process of preparing the Union Budget is highly confidential due to its significant impact on the economy, markets and the public. There are several restrictions in place to maintain the confidentiality of the budget preparation process. 

The finance minister and high-ranking officials involved in the process are required to keep the details of the budget secret until it is officially presented. After the ceremony, officials who are directly involved in the budget preparation process are required to stay within the North Block premises and are cut off from any external communication to maintain the secrecy of the budget details until it is presented in the Parliament. They are also prohibited from using mobile phones. This is known as the ‘lock-in' period. 

The budget is only printed after receiving approval from the Prime Minister. Various entities, including ministries, states, union territories, defence forces and other departments, are tasked with preparing estimates. The Intelligence Bureau chief conducts surprise visits to the printing press area in the basement of North Block to ensure the secrecy of the process.