The Union Budget for the financial year 2025-26 is all set to be presented by Finance Minister Nirmala Sitharaman in Parliament on February 1, 2025. This marks an important milestone as Sitharaman prepares for her second full-fledged budget under Prime Minister Narendra Modi’s third term, and her eighth budget presentation overall. She has previously presented six annual budgets and two interim budgets under the NDA-led government.
1950 Union Budget Leak
The process of printing the Union Budget has been transformed over the years to enhance security and confidentiality. The Budget was first printed at the Rashtrapati Bhavan press on Minto Road, Delhi. In 1950, a major leak from the press led to the shifting of the printing location. The leak made the government shift the printing to a more secure facility as it required stricter security measures.
The Union Budget printing process was shifted to the basement of North Block in Delhi in 1980. It is still printed from there. This sensitive operation has been housed within the premises of the Ministry of Finance and Ministry of Home Affairs located in North Block, which seems a more secure location.
Official lock-in Period starts after the ‘Halwa’ Ceremony
The official “lock-in” period of the Union Budget started on Friday, the day the ‘halwa’ ceremony took place. This has traditionally marked the opening of the Budget preparation process as well as marking the start of the high-intensity security blanket the Budget has since long been seen under. While in the lock-in period, the officials handling Budget preparation remain segregated from the outer world so as to have perfect secrecy.
John Mathai Incident and Resignation
It was during the 1950 Budget leak that John Mathai, who was the then Finance Minister, presented his Union Budget. Accusations have since arisen that Mathai had done too much to please influential quarters. In protest against the Planning Commission, Mathai resigned after presenting the Budget.
Security during Budget Preparation
The security surrounding the Union Budget today is unparalleled. The preparation of the budget team takes place under very strict scrutiny. The officials who are engaged are not allowed to use phones, and they cannot leave the premises before Finance Minister Nirmala Sitharaman has presented the Budget in Parliament. Such steps ensure that the contents of the Budget are secure and confidential until it is formally unveiled.
All are focused on Nirmala Sitharaman as the Union Budget for FY 2025-26 nears, being prepared under intense security and against historical background.
