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Budget traditions: What's the significance of halwa ceremony, documents briefcase?

As Budget 2021 approaches, here's a look at some of India's long-standing traditions.

January 05, 2021 / 06:32 PM IST
halwa ceremony
Halwa ceremony | The traditional sweet dish is prepared and distributed among Finance Ministry officials in the presence of the finance minister to mark the beginning of printing documents related to the Budget. (Image: Twitter/@FinMinIndia)
Locked out of the world
Cut-off from the world | All officials and staff associated with the Budget reside at the ministry following the halwa ceremony until the Budget is presented. They aren't allowed to contact anyone from the outside world, including their family members. (Image: PTI)
Printing Press |
Printing press | All Budget-related documents are printed at North Block itself using a dedicated government press. Earlier, the documents were printed at Rashtrapati Bhavan, but after documents were leaked in 1950, the process was moved to a press on Minto Road, and in 1980 to North Block. (Image: Reuters)
Budget briefcase | The Budget documents are carried in a leather briefcase with different shades of red and brown. This tradition continues from the British era, who used a Gladstone box.(Image: PTI)
Yashwant Sinha
Presentation date and time | Before 1999, the Budget was presented at 5 pm on the last day of February, Yashwant Sinha changed the time to 11 am. In 2016, the date of presentation was changed too, Arun Jaitley presented the budget on February 1. (Image: PTI)
Budget Speech | (Image: PTI)
Budget speech | The Budget speech is made in two parts, where the first contains an overview of the economy and major policy initiatives, while the second recommends tax proposals. However, after the introduction of GST, the Part B has become truncated, since most indirect tax changes are carried outside the Budget. (Image: PTI)
Moneycontrol News
first published: Jan 31, 2019 07:30 am
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