Budget 2020: Finance Ministry holds 'Halwa' ceremony, here's all you need to know

This time, the traditional halwa ceremony, which marks the official start of the Budget every year, took place on January 20 (Monday), i.e. 10 days ahead of the Union Budget presentation in the Parliament.

Delhi: Finance Minister Nirmala Sitharaman at 'Halwa Ceremony' being held at Ministry of Finance, North Block, to mark the beginning of printing of documents relating to Union Budget 2020-21. pic.twitter.com/WnCt9Hm4Ws

— ANI (@ANI) January 20, 2020

Here, DNA India will provide details regarding the halwa ceremony, which was attended by Union Finance Minister Nirmala Sitharaman and other officials of the Ministry of Finance. The ceremony, that marks the printing of documents for the Budget, took place at the North Block of the Secretariat Building, where the Ministry of Finance and the Ministry of Home Affairs are situated.

Details and significance of the Finance Ministry's halwa ceremony:

In this decades-old tradition, halwa is prepared in a large vessel and served to the finance ministry staff. After the ceremony, the employees who are a part of the budget-making process, move to the basement of North Block for around 10 days to prevent any leaks before the presentation.

The ceremony also functions as a method of recognition to laud the efforts of every staff member who has been a part of the budget-making process.

The Union Budget 2020 will be the seventh consecutive Budget of the present NDA government and it is scheduled to be unveiled in Parliament on February 1.

As per predictions, the government is likely to announce a distressed asset fund of Rs 5,000 crore for micro, small and medium enterprises (MSMEs) facing liquidity crunch in the upcoming Budget 2020-21 and it may also bring some relief to the middle-class taxpayers by announcing reductions in the tax rates.