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Budget 2024 LIVE updates: ‘Halwa’ ceremony held, ‘lock-in’ period begins for officials

Budget 2024 LIVE updates: In exactly a week from Thursday, Union finance minister Nirmala Sitharaman will present the budget for FY 2024-25, with this being the final annual financial statement of the Narendra Modi government’s second term. Accordingly, the traditional pre-budget ‘halwa’ ceremony was held on Wednesday, and officials involved in the preparation of budget are now in a ‘lock-in’ period to preserve the confidentiality surrounding the final budget document. They will come out only after the its tabling in the Lok Sabha on February 1.

Union finance minister Nirmala Sitharaman participating in traditional ‘Halwa Ceremony’ on Wednesday in North Block.

The upcoming budget will be an ‘interim’ one as the government faces a general election this year, in April-May. The full budget will be presented in July by the incoming government, whether a re-elected or new one.

In India, a financial year begins on April 1, ending on March 31 the following year.

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