Finance Minister Nirmala Sitharaman is all set to reveal the most awaited Union Budget on July 23, 2024.
Union budget is an “estimated receipts and expenditures” of the government for any specific year. Following the practice from the last three full Union Budget and one Interim Budget presentations, this year also, the Union Budget will be conveyed in a paperless format. Live updates and more details will be obtained from “Union Budget Mobile App”. Amidst all these preparedness, let's discuss about unique traditions followed by Indian government before and during budget presentation.
Since independence, India witnessed a total of 73 annual budgets, 14 interim budgets and 4 special budgets.
In 1955, the then Finance Minister CD Deshmukh, understood the importance for making the budget document accessible to all citizens of India. He took the initiative of printing the budget in both English and Hindi languages.
In earlier days, the budget documents were printed at Rashtrapati Bhavan. In 1950, the whole system was shifted to a press on Minto Road in Delhi after an unprecedented leakage of documents. In 1980, it was shifted to North Block of Lok Sabha. Since then, all Budget-related documents are printed at dedicated government press at North Block, very nearby to presentation room. The people responsible with the task, had to be quarantined inside the printing press for at least two weeks.
You might have seen that Budget presenters holding a red briefcase or leather bag before delivering in Lok Sabha. Ever felt why they hold it or why is it red? Let's explore the reasons.
Showing the Leather Briefcase: The word ‘budget’ comes from a French word ‘bougette’, which stands for leather briefcase. The tradition of showing red briefcase was inherited from British government. In 1860, British Chancellor Gladstone, for the first time, carried red-coloured, leather-covered briefcase with the Queen's monogram, regarded as the Gladstone Box. There are various theories behind selection colour. However, scientifically, red colour is perceived by human for its attractiveness. The first Finance Minister of independent India, RK Shanmukham Chetty continued with the British-era tradition by carrying the documents in a leather portfolio bag. Since then, the tradition continued for the Budget ceremony.
Showing the red briefcase signifies the economic progress.
Bahi Khata: Meanwhile, we are living in a digital era, where hard copy is often replaced by Portable Document Format (PDF). The same trend is followed by Indian government in 2019, which marked a revolutionary shift when Nirmala Sitharaman ditched carrying briefcase and opted for a ‘bahi khata.’ She choose a 'Made in India' tablet, complete a paperless format in 2021. However, the colour code and showing the gadgets wrapped in red leather bag remain the same.
Indians follow the rituals of eating sweets before or during the start of new things. The government also follows the same tradition. Organised at the north block of Lok Sabha, this ritual is attended by the finance minister and other high-ranking officials involved in the preparation of the budget. One of the most famous Indian dessert ‘Halwa’ is prepared and distributed during this ceremony.
It is a form of ‘send-off’ for finance ministry officials before being locked in during the printing of Budget documents to presentation. The quarantine period was initially for two weeks, which is now reduced to 5 days.
“The final stage of the Budget preparation process for Union Budget 2024-25 commenced with the customary Halwa ceremony in the presence of Union Minister for Finance and Corporate Affairs Smt. @nsitharaman, in New Delhi, today,” the finance ministry said in a post on X.
Now, all eyes are on coalition government’s first big budget.
