New Delhi: The traditional Halwa Ceremony, signaling the final phase of the Budget preparation process for Union Budget 2024-25, took place today in New Delhi. The event was graced by Union Minister for Finance and Corporate Affairs Nirmala Sitharaman and Union Minister of State for Finance Shri Pankaj Chaudhary.
The Halwa Ceremony is an annual ritual held just before the ‘lock-in’ period begins for officials involved in the Budget formulation. Scheduled to be presented on 23rd July, 2024, the Union Budget 2024-25 holds significance as it sets the financial agenda for the nation in the upcoming fiscal year.
During the ceremony, all Union Budget documents, including the Annual Financial Statement, Demand for Grants, and the Finance Bill, were also announced to be accessible through the Union Budget Mobile App. This initiative aims to provide Members of Parliament (MPs) and the general public with convenient access to Budget-related information in both English and Hindi. The mobile app will be available on Android and iOS platforms, as well as the Union Budget Web Portal (www.indiabudget.gov.in), immediately following the Budget Speech by the Union Finance Minister in Parliament.
Accompanied by Secretaries of the Ministry of Finance and senior officers involved in the Budget preparation, Nirmala Sitharaman also conducted an inspection of the Budget Press during the ceremony. She reviewed the preparations and extended her best wishes to the officials for their dedicated efforts in ensuring a comprehensive and transparent budgetary process.
The Halwa Ceremony not only marks the beginning of intense preparations leading up to the Budget presentation but also underscores the government’s commitment to fiscal prudence and inclusive economic growth. With anticipation building, the Union Budget 2024-25 aims to address key economic challenges and outline strategic initiatives for India’s development trajectory in the coming year.