The Union Budget for the financial year 2025-26 will be presented in Parliament by Finance Minister Nirmala Sitharaman on February 1, 2025. The traditional ‘halwa’ ceremony, marking the start of the budget printing process, was completed on Friday, after which the lock-in period for officials involved in its preparation began.
This will be Sitharaman’s eighth budget presentation, including six annual and two interim budgets, under the successive terms of the NDA-led government. It is also her second full-fledged budget under Prime Minister Narendra Modi’s third term.
History of Budget Printing in India
Currently, the Union Budget is printed in the basement of the North Block in New Delhi, a facility known for its tight security. However, this secure setup came about after a scandal in 1950, when the budget was leaked from the Rashtrapati Bhavan press on Minto Road, Delhi, where it was previously printed.
The leak caused significant controversy, with then-Finance Minister John Mathai accused of catering to the interests of influential figures. Mathai, who had presented two budgets in independent India, resigned after the incident in protest against the Planning Commission.
Following the leak, the budget printing process was shifted to a more secure location, first to the North Block in 1980, where it continues to this day.
Enhanced Security Measures
To maintain confidentiality, the budget preparation process is conducted under strict security protocols. Officials involved in drafting the budget are placed under a ‘lock-in’ period, during which they are completely isolated from the outside world. They are prohibited from using mobile phones and remain in isolation until the finance minister finishes presenting the budget in Parliament.
This system ensures that the details of the financial document remain secure until its official presentation.
Expectations From Budget 2025-26
As the government prepares to unveil its budget, expectations are high for policies aimed at bolstering economic recovery, job creation, and infrastructure development. Sitharaman is likely to address key issues such as inflation, fiscal deficit, and reforms to attract foreign investments.
The budget will also be closely watched for its impact on various sectors, including agriculture, technology, healthcare, and education, as the nation seeks to sustain its growth momentum.