What is the Halwa Ceremony?

About Halwa Ceremony

• It is a tradition performed every year ahead of the budget and signifies the official initiation of the printing process of various documents related to the budget.
• It involves the preparation of the traditional dessert 'halwa' in a massive kadhai (wok), which is then served to all those who are directly associated with the budget-making process.
  • The finance minister gives the go-ahead by stirring the kadhai and serving the sweet to officials.
  • It takes place in the basement of the Finance Ministry's North Block in Central Delhi, where a special printing press is located.
• It serves as a formal ‘send-off’ for the ministry officials and staff engaged in preparing the Union government's annual financial statement.
  • Subsequently, the top officials involved with the budget enter a designated ‘lock-in’ period, isolating themselves within the ministry premises and cutting off from their families to preserve the confidentiality surrounding the final budget document.
  • The officials are required to stay in the Finance Ministry till the finance minister finally presents the budget.

Q1) What is the annual financial statement?

Article 112 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year. This statement is called the annual financial statement.It is divided into three parts, Consolidated Fund, Contingency Fund and Public Account. For each of these funds, the government has to present a statement of receipts and expenditure.

Source: Watch: Nirmala Sitharaman takes part in ‘Halwa Ceremony’ ahead of interim budget