Budget 2024: FM Nirmala Sitharaman Marks Budget's Final Stage with 'Halwa Ceremony'

By siliconindia  |  Thursday, 25 January 2024, 09:34:48 AM IST

Budget 2024: FM Nirmala Sitharaman Marks Budget's Final Stage with 'Halwa Ceremony'
Finance Minister Nirmala Sitharaman concluded the last phase of preparing the Interim Union Budget 2024 with the customary "Halwa ceremony" held at North Block. This traditional ceremony signifies the finalization of the budget preparation process. During the ensuing mandatory "lock-in" period, officials involved in the budget preparation adhere to strict rules at their workplaces to prevent any unauthorized disclosure of budget details.
This precautionary measure safeguards the confidentiality of vital financial information. Following the precedent of the last three complete Union Budgets, the Interim Union Budget 2024, scheduled for presentation on February 1, 2024, will follow a paperless format. Nonetheless, a limited number of physical copies will be produced for the sake of record-keeping.
In an issued statement, the Finance Ministry declared that the Union Budget documents, comprising the Annual Financial Statement, Demand for Grants, and Finance Bill, will be available on the "Union Budget Mobile App." This digital platform is designed to offer Members of Parliament (MPs) and the public effortless access to budget documents through a user-friendly digital interface.
These documents will become available on the Mobile App after the Union Finance Minister completes the Budget Speech in Parliament on February 1, 2024. Notably, the upcoming budget is an interim one due to impending elections, with the full budget scheduled for presentation in July after the formation of the new government. During the Halwa ceremony, Finance Minister Nirmala Sitharaman was joined by key officials, including Finance Secretary TV Somanathan, Secretary of Economic Affairs Ajay Seth and Revenue Secretary Sanjay Malhotra.
Additional attendees at the event comprised Tuhin Kanta Pandey, the Secretary of DIPAM, Nitin Gupta, the Chairman of CBDT, Sanjay Kumar Agarwal, the Chairman of CBIC, and Ashish Vachhani, the Additional Secretary (Budget). Additionally, numerous officials and staff from the Ministry of Finance, actively engaged in the preparation and compilation of the budget, were in attendance.

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