New Delhi: Finance Minister Nirmala Sitharaman will present the Union Budget 2022 on February 1 (Tuesday). This budget will be focussed towards boosting India's economic growth and maintaining the fiscal disciple in the aftermath of the ongoing Covid-19 pandemic.
Breaking away from the tradition of the customary `Halwa ceremony` before the commencement of the Budget Session of the Parliament, this time sweets sweets were provided to the core staff due to undergoing "lock-in" at their workplaces. (Here's looking at Longest and shortest Budget speeches given by India's Finance Ministers)
The move has been deemed fit due to the COVID-19 pandemic in the country, keeping the health and safety concerns of people. Also, FM Sitharaman will present the Union Budget 2022-23 in a paperless form for the second time on February 1. (Also read: Meet James Wilson, the man who created India's first-ever Budget)
As she prepares to present the Budget, here is a brief summary of the process that the Finance Ministry undergoes to make the annual statement.
The Union Budget is the annual statement of how much money the union government expects to raise in the next financial year and how it will spend that money. The 'Annual Financial Statement' is laid before both Houses of Parliament. The budget speech is also used by the government to propose other policy measures.
The customary 'halwa ceremony' used to mark the beginning of the period when over a 100 finance ministry officials and staff begin to remain in isolation till the time the Finance Minister reads out his speech. As per tradition, the Finance Minister would serve officials with bowls full of halwa at the North Block to thank his team for their hard work.
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