2024-07-16 21:17:40
New Delhi: Finance Minister Nirmala Sitharaman today participated in the ‘Halwa Ceremony’ for the Union Budget 2024. This ritual symbolizes the final stage of the budget-making process. The Finance Minister fed Halwa to the entire team involved in budget-making. This ritual is performed every year before the budget-making process goes into ‘lock-in’. Apart from the Finance Minister, other members of the ministry like Minister of State Pankaj Chaudhary, CEA V Anantha Nageswaran, Finance Secretary TV Somanathan, DEA Secretary Ajay Seth were also present at the Halwa ceremony.
What is Halwa Ceremony?
Halwa Ceremony is an important tradition in India which is held before the budget. It symbolizes the completion of the budget document work on the part of the officials and employees of the Finance Ministry. In this ceremony, the Finance Minister distributes Halwa to the employees. Halwa is sweet, which symbolizes the hope of sweet results in the budget. This ceremony is also a celebration of the successful completion of the budget process. Halwa Ceremony is only a symbolic ceremony, but it shows the importance of the budget process. It also provides a glimpse of the government’s plans and policies for the financial year.
First full budget of Modi 3.0 government
The Modi government is going to present the first full budget of its third term on July 23. President Draupadi Murmu has indicated that this budget will have many historic steps. The last budget presented in February was just a vote-on-account due to the Lok Sabha elections. According to ET report, this time the government’s full focus will be on employment, as well as macroeconomic stability.
This budget will not only set the priorities for the third term of the Modi government, but will also present a roadmap till 2047. In her interim budget speech, President Murmu had said, ‘In the full budget in July, our government will present a detailed roadmap for our goal of ‘Developed India’.’ This budget is expected to focus on infrastructure, manufacturing, fiscal discipline, employment generation and social sectors.
The government will try to give new impetus to the country’s development through this budget. Everyone’s eyes are set on this budget. It is hoped that this budget will lay a strong foundation for the country’s future.