look news india
Before presenting the budget by Union Finance Minister Nirmala Sitharaman, a Halwa ceremony was organized in the North Block of the Finance Ministry on Tuesday, a video of this event has been shared on the social media platform X, in which Finance Minister Nirmala Sitharaman served Halwa to the officials of the Ministry. Union Minister of State for Finance Dr. Bhagwat Kishanrao Karad, Pankaj Chaudhary and senior officials of the Finance Ministry were present on this occasion. The budget will be presented in the Lok Sabha on July 23.
Importance of Halwa Ceremony
After all the work related to the budget is completed, the Finance Minister organizes a Halwa Ceremony. This Halwa Ceremony means that the budget has been finalized. Now its printing work has started. In this ceremony, a large number of officers and employees who prepared the budget were thanked. After this, the Finance Minister himself distributes Halwa to all the employees, employees associated with the printing work and finance officers.
The officers and employees involved in preparing the budget are neither allowed to talk on the phone, nor can they go home, nor do they have a mobile phone. Not only this, the Finance Minister is not allowed to leave the office premises after finishing his budget speech in the Lok Sabha. The purpose of this is to keep the budget confidential.
How many types of budgets are there?
What is a budget? Before this, it is important to know about the types of budget. Budgets in India are mainly of three categories, which include balanced budget, surplus budget and deficit budget. In which the amount of income and expenditure should be normal in a balanced budget. Also, in a surplus budget, the government's revenue is more than the expenditure. In a deficit budget, the government's expenditure is more than its revenue. Earlier, the Union Finance Minister presented the Interim Budget 2024-2025 in Parliament on February 1, 2024 at 11 am. It was first presented in the year 2001 at 11 am. Before the Vajpayee government came, the budget was presented at 5 pm, but Yashwant Sinha broke this practice and started the tradition of presenting the budget at 11 am.