The finance ministry will hold the customary halwa ceremony on Tuesday, marking the beginning of the final and most confidential phase of preparations for the Union Budget 2026-27.
The ceremony, a long-standing tradition in India’s budgetary process, symbolises the transition from drafting and deliberations to the finalisation of the Budget document. It is expected to be attended by Finance Minister Nirmala Sitharaman and senior officials of the ministry, along with staff who have been closely involved in the Budget-making exercise.
Following the halwa ceremony, around 60-70 officials directly associated with the preparation and finalisation of the Union Budget will enter the lock-in period. During this phase, they will remain cut off from all external communication until the Budget is presented in Parliament. The lock-in is a critical confidentiality measure aimed at preventing any leakage of sensitive fiscal information, including tax proposals, expenditure allocations, and policy measures.
Traditionally, the lock-in period was closely linked to the physical printing of Budget documents at North Block. While the Budget has largely moved to a digital format in recent years, the lock-in period has been shortened over time due to increased digitisation.
From North Block To Kartavya Bhawan
Despite the Ministry of Finance shifting to Kartavya Bhavan last year, the Union Budget 2026–27 will be printed at the North Block press due to logistical constraints at the new premises. While new machines have been installed and trials are underway at Kartavya Bhavan, officials opted for the old facility to ensure timely and confidential printing.
The halwa ceremony itself carries both symbolic and administrative significance. In keeping with Indian tradition, the distribution of a sweet dish is seen as an auspicious way to mark the start of an important task. At the same time, it serves as an institutional marker that the Budget has entered its final stretch.
The Union Budget 2026-27 is expected to place a strong emphasis on deregulation, with the government looking to simplify rules, reduce compliance burdens, and improve the ease of doing business across sectors. The focus is likely to be on rationalising laws and processes that slow down investment, trade, and manufacturing, as policymakers aim to make India more competitive amid a challenging global economic environment.
Officials indicate that deregulation will go hand in hand with measures to boost domestic manufacturing, exports, and private investment. By easing regulatory bottlenecks and streamlining approvals, the government hopes to unlock growth, strengthen supply chains, and support long-term economic expansion in the run-up to Budget 2026–27.
With the halwa ceremony, the Budget process formally moves into its concluding phase, setting the stage for the Finance Minister’s presentation of the Union Budget in Parliament on February 1.
