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In news
- The Halwa ceremony, marking the final stage of the Budget preparation process for Union Budget 2023-24, was held recently.
- The Union Budget 2023-24 is to be presented on 1st February, 2023.
About
- It is a customary ceremony in which traditional dessert ‘halwa’ is prepared and served to officials and staff members of the finance ministry who were involved in the preparation of the Budget. It is performed every year before the “lock-in” process of Budget preparation begins.
- The custom has been part of the Budget tradition for decades.
- Lock in Period: All the officials involved in the Budget preparations will stay at the North Block. This is done to make sure that the secrecy of the Union Budget is maintained. The moment the Finance Minister tables the Union Budget in Parliament, the lock-in period will conclude.
Union Budget of India
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