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Home»Business»Ahead of Budget 2023, ‘Halwa’ ceremony to be held tomorrow | All you need to know
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Ahead of Budget 2023, ‘Halwa’ ceremony to be held tomorrow | All you need to know

January 28, 2023No Comments2 Mins Read
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The standard ‘Halwa’ ceremony, that takes place forward of the presentation of the annual February 1 Union finances, will probably be held on January 26, the ministry of finance mentioned on Wednesday.

Click on right here for full protection on Price range 2023

“The Halwa ceremony, marking the ultimate stage of the Price range preparation course of for Union Price range 2023-24, will probably be held for tomorrow within the presence of Union Finance & Company Affairs Minister Smt. @nsitharaman, within the Price range Press located inside North Block,” the ministry mentioned in a tweet.

“Together with the Union FM, the Halwa ceremony will probably be attended by the Union ministers of State for Finance, together with Secretaries of the Ministry of Finance @FinMinIndia apart from senior officers and members of the Union Price range Press,” it added.

What’s ‘Halwa’ ceremony?

The ceremony is a ‘send-off’ for ministry officers and employees concerned with the preparation of the Union authorities’s annual monetary assertion. They enter what known as a ‘lock-in’ interval, throughout which they keep contained in the ministry, reduce off from their households, to take care of the secrecy across the closing finances doc.

Additionally Learn | Union finances: How govt prepares annual monetary assertion?

They go away the North Block, which homes the finance ministry, after the finances is tabled by the finance minister, in Lok Sabha, on February 1.

What occurs at ‘Halwa’ ceremony?

The finance minister opens the ceremony by stirring the ‘halwa’ in a kadhai (giant steel pot). Final yr, nonetheless, it was curtailed because of the Covid-19 pandemic, and the employees had been served sweets as a substitute.

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