India’s Union Budget 2025: Key highlights and traditions

February 1, 2025 Finance Talk Valli Sarvani

India’s Union Budget is a vital document that outlines the country’s economic strategy for the upcoming year.

The 2025 Union Budget will mark the first for the Modi 3.0 government, with strong anticipation for tax relief measures aimed at benefiting middle and lower-income groups.

Historical Insights

Historically, the process of printing the Budget has faced challenges. In 1950, the printing process was compromised, prompting a complete security overhaul.

By 1980, the government moved the printing operations to the basement of the North Block, where it continues today.

A significant change occurred in 2017 when the Railway Budget was merged with the Union Budget to streamline the governance process.

The Halwa Ceremony and Lock-in Period

A key ritual before the Budget is presented is the Halwa Ceremony. This event, held at the North Block, sees the Finance Minister, currently Nirmala Sitharaman, preparing halwa in a large kadhai and serving it to officials involved in the preparation.

The ceremony symbolizes the final step in the Budget process and acknowledges the hard work of the officials.

Following the ceremony, a lock-in period begins, during which all employees involved in the preparation must stay within the North Block premises.

They are cut off from all external communication to ensure complete confidentiality until the Budget is presented in Parliament.

Union Budget 2025 Schedule

The Union Budget 2025 is scheduled to be presented on February 1, as part of the Budget session that runs from January 31 to April 4.

The session will follow the traditional timeline, with Finance Minister Nirmala Sitharaman likely to deliver another long speech—her record for the longest Budget speech is 2 hours and 42 minutes in 2020.

With increasing digital integration, this year’s Budget is expected to introduce new policies focused on economic growth, financial reforms, and relief measures for various sectors.

Image Credit: Samphotography, CC BY-SA 4.0, via Wikimedia Commons