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Budget 2019: A Look at India's Long-Standing Traditions

Business | News18 | February 1, 2019, 9:23 am
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 <strong>Halwa Ceremony</strong>: Traditional sweet dish is prepared and distributed among Finance Ministry officials in the presence of the finance minister to mark the beginning of printing documents related to the Budget.The ceremony is held about a fortnight before the Budget day. (Image: Twitter)

Halwa Ceremony: Traditional sweet dish is prepared and distributed among Finance Ministry officials in the presence of the finance minister to mark the beginning of printing documents related to the Budget.The ceremony is held about a fortnight before the Budget day. (Image: Twitter)

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 <strong>Lock-in</strong>: The halwa ceremony is followed by a lock-in, which means that all the 100-odd officials directly involved in printing of the budget papers cannot leave the premises and remain incommunicado till the Budget is presented. These officials cannot even contact their family or friends. (Image: Reuters)

Lock-in: The halwa ceremony is followed by a lock-in, which means that all the 100-odd officials directly involved in printing of the budget papers cannot leave the premises and remain incommunicado till the Budget is presented. These officials cannot even contact their family or friends. (Image: Reuters)

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 <strong>Printing Press</strong>: All Budget-related documents are printed at North Block itself using a dedicated government press. Earlier, the documents were printed at Rashtrapati Bhavan, but after documents were leaked in 1950, the process was moved to a press on Minto Road, and in 1980 to North Block.

Printing Press: All Budget-related documents are printed at North Block itself using a dedicated government press. Earlier, the documents were printed at Rashtrapati Bhavan, but after documents were leaked in 1950, the process was moved to a press on Minto Road, and in 1980 to North Block.

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 <strong>Budget Briefcase</strong>: The Budget documents are carried in a leather briefcase with different shades of red and brown. This tradition continues from the British era, who used a Gladstone box.

Budget Briefcase: The Budget documents are carried in a leather briefcase with different shades of red and brown. This tradition continues from the British era, who used a Gladstone box.

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 <strong>Presentation Date and Time</strong>: Before 1999, the Budget was presented at 5 pm on the last day of February, Yashwant Sinha changed the time to 11 am. In 2016, the date of the presentation was changed too, Arun Jaitley presented the budget on February 1. (Image: Twitter)

Presentation Date and Time: Before 1999, the Budget was presented at 5 pm on the last day of February, Yashwant Sinha changed the time to 11 am. In 2016, the date of the presentation was changed too, Arun Jaitley presented the budget on February 1. (Image: Twitter)

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 <strong>Budget Speech</strong>: The Budget speech is made in two parts, where the first contains an overview of the economy and major policy initiatives, while the second recommends tax proposals. However, after the introduction of GST, Part B has become truncated, since most indirect tax changes are carried outside the Budget.

Budget Speech: The Budget speech is made in two parts, where the first contains an overview of the economy and major policy initiatives, while the second recommends tax proposals. However, after the introduction of GST, Part B has become truncated, since most indirect tax changes are carried outside the Budget.

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