Budget 2026 Update: How significant February 1, 2026, will be for all sections of India will only be known by midday. The Modi government at the centre is going to present the budget for the financial years 2026 and 2027. Preparations for the budget have been completed. Everyone, from farmers and soldiers to railway employees and salaried professionals, will have their eyes fixed on the budget speech.
Before the budget, there is a ceremony called the Halwa Ceremony. It is organised by the Ministry of Finance. After this ceremony, the officials involved in preparing the budget go into a lock-in period, meaning they are confined to the premises. The Halwa Ceremony is a very old tradition in the Indian budget process, and it carries several meanings.
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Why is the Halwa Ceremony held?
You might be wondering why the Halwa Ceremony is held before the presentation of the full budget. The Union Finance Minister herself is present during the preparation of the halwa. This sweet dish is distributed to the officials and staff involved in preparing the budget. This sweet treat also signifies that the budget work has reached its final stage.
All major decisions, numbers, and proposals havebeen finalisedd. After the Halwa Ceremony, no major changes are made, only minor necessary adjustments. This ceremony acknowledges the hard work of the officials and also signals the beginning of the period of secrecy. The lock-in period begins immediately after the Halwa Ceremony.
What is the lock-in period?
The Halwa Ceremony on the eve of the budget presentation attracts everyone’s attention. After this event, the select officials and staff involved in preparing the budget enter a lock-in period. This means they remain confined to the North Block building.
They cannot go outside, cannot go home, and cannot meet their families. They do not have mobile phones, internet access, or any communication devices. They cannot talk to anyone from outside. This period lasts until the budget is presented, that is, until February 1st.
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Why is the lock-in period necessary?
It’s important to note that the budget includes highly impactful decisions regarding tax changes, fiscal deficit, sector-specific allocations, and subsidies. If any information is leaked beforehand, it could lead to manipulation in the stock market, and some individuals could potentially gain unfair advantages.
