Budget 2023: The halwa ceremony that marks the final stage of the Budget preparation process for Union Budget 2023-24, was held in North Block, on Thursday. Union Finance & Corporate Affairs Minister Nirmala Sitharaman and Union Ministers of State for Finance Pankaj Chaudhary and Dr Bhagwat Kisanrao Karad were present at the ceremony.

The final stage of the Budget preparation process for Union Budget 2023-24 commenced with the Halwa ceremony in the presence of Union Finance & Corporate Affairs Minister Smt. @nsitharaman, here today.

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Budget 2023: What is halwa ceremony?

A customary halwa ceremony is a ritual that is performed every year before the “lock-in” process of Budget preparation begins. The halwa ceremony marks the beginning of the printing process of the official Budget document every year.

As per the ritual, the halwa is prepared in a large wok and served to the officials of the finance ministry who are directly associated with the Budget.

Once the sweet dish is served, officials and other staff will stay in the basement of the North Block of the Finance Ministry till the Budget is tabled in the Parliament. 

These people, usually around 100 in number, are even cut off from their families for a period of around 10 days to ensure the secrecy of Budget details and to prevent any leaks. Only senior officials are allowed to leave the North Block offices.

Watch the video on why Halwa ceremony is performed 

At the halwa ceremony, the Union Finance Minister was also accompanied by Dr T.V. Somanathan (Finance Secretary & Secretary Expenditure), Ajay Seth (Secretary, Economic Affairs), Tuhin Kanta Pandey (Secretary, DIPAM), Sanjay Malhotra (Secretary, Revenue), Chief Economic Advisor Dr Anantha V. Nageswaran, Nitin Gupta (Chairman, Central Board for Direct taxes - CBDT), Vivek Johri (Chairman, Central Board for Indirect Taxes and Customs - CBIC), and Ashish Vachhani (Additional Secretary - Budget), and other officers and staff of the Ministry of Finance who are involved in the Budget preparation and compilation process.

Like the previous two Union Budgets, Union Budget 2023-24 will also be delivered in paperless form. The Union Budget 2023-24 will be presented on February 1 by the Finance Minister.

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