Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 on Saturday, February 1, marking her 8th consecutive budget.
This will also be the second full-fledged financial budget of Prime Minister Narendra Modi's government in its third term.
Following the trend set in recent years, the Union Budget will be entirely paperless, reflecting the government’s commitment to digitization.
What is the Union Budget?
The Union Budget is the government's financial blueprint for the upcoming fiscal year, detailing expected revenues, expenditures, and fiscal policies.
Covering the period from April 1 to March 31, the budget shapes the nation’s economic priorities, allocates resources across sectors, and proposes changes to key legislation such as the Income-tax Act of 1961.
Often referred to as the "bahi-khaata" since 2019, the budget also reflects broader fiscal strategies and economic policies.
Date, Time, and Venue
The Union Budget 2025 will be presented in Parliament at 11 a.m. on February 1 by Finance Minister Sitharaman, continuing the tradition of annual budget presentations in the Lok Sabha.
Budget Preparation Timeline
Work on the Union Budget 2025 began in October 2024, with extensive consultations between the Finance Ministry and various government departments to finalize financial estimates and priorities.
In December 2024, Prime Minister Modi held discussions with economists and industry leaders to gather insights and refine the budget framework.
Where to watch the Union Budget Presentation
The live presentation of the budget can be viewed on:
Television: Doordarshan, Sansad TV, and other official government channels
Online Streaming: Government and other media YouTube channels
Live Blogs: Websites that provide real-time updates and analysis
Digital Access to Budget Documents
The full set of budget documents, including the Annual Financial Statement, Finance Bill, and Demand for Grants, will be available for download on the official Union Budget website (www.indiabudget.gov.in) and through the Union Budget Mobile App.
Users can access the documents in both Hindi and English for convenience.
Halwa Ceremony
The Halwa Ceremony, an annual tradition, marks the commencement of the "lock-in" phase for budget preparation. Held at the North Block, this ceremony involves the preparation of the Indian sweet dish halwa in a large kadhai.
The Finance Minister leads the ceremony by stirring the kadhai and serving the halwa to the officials involved in drafting the budget. This gesture is a token of appreciation for the hard work and dedication of the Finance Ministry team.
The Halwa Ceremony also signifies the start of printing budget documents, paving the way for their presentation in Parliament. It is a symbolic and celebratory moment in the budget-making process.
This year, the ceremony was held on January 24, where the Finance Minister Nirmala Sitharaman, inspected the Budget Press facilities, and conveyed her best wishes to the officials involved in the process.
Significance of the Ceremony
The halwa ceremony holds great significance as it marks the commencement of the finance ministry's lockdown period.
During this phase, officials involved in budget preparation remain within the ministry compound and are only allowed to leave after the Union Budget is officially presented in Parliament.
Since 1980, the printing of the budget has been a secured process conducted in the basement of the North Block.
The 2025 budget session of Parliament is scheduled to begin on January 31 and conclude on April 4. Finance Minister Nirmala Sitharaman will present the Union Budget on February 1.
On January 31, President Droupadi Murmu will address a joint session of both houses of Parliament. Following an inter-session break from February 14, the two houses will reconvene on March 10 to continue their sittings.
