Saurav Gupta
The 'Halwa ceremony' marks the start of compiling documents for the Interim Budget 2024, occurring around 9 to 10 days before the Union Budget presentation.
A massive kadhai of Halwa is prepared and served to Finance Ministry staff, with the Finance Minister playing a symbolic role in recognizing collective efforts.
The ceremony initiates a 'lock-in' period for staff, ensuring confidentiality until the budget presentation. The North Block basement transforms into a highly secured area.
Measures are taken to prevent leaks, with finance officials involved in budget-making kept in isolation, cut off from the outside world for about 9 to 10 days.
The tradition stems from a leak in 1950 during budget printing, leading to a finance minister's resignation. Since 1980, the North Block basement is the permanent location for budget printing.
The North Block basement undergoes a transformation into a fortress, implementing stringent security measures to safeguard sensitive budget-related activities.
The Finance Minister's active involvement in the ceremony symbolizes the official commencement of the budget preparation process.
Staff members can only exit the North Block after the Finance Minister officially presents the budget in Lok Sabha on February 1, ensuring confidentiality until the public reveal.