Hit enter to search or ESC to close
When the general public of India is busy in celebrating the new year on January 1, then the government of the country is engaged in preparing the budget. In such a situation, along with the government, it becomes necessary for the general public as well that whether his days are going to be good this time? So! Whether the days will be good or bad, it will be known only after the presentation of the budget on February 1, 2023. Till then, today let us know about these seven steps which play an important role in budget preparation.
Explain that only after the halwa ceremony is performed in the North Block, the officers involved in the preparation of the budget are given a kind of imprisonment. Intelligence Bureau (IB) officials, headed by the Joint Secretary, monitor every activity of the budget-making team. An interesting point about budget printing is that the officials involved in preparing the budget are imprisoned till the budget is presented and their contact with the rest of the world is cut off for a few days. You also know some interesting information related to the budget.
Officials imprisoned in the North Block, along with officers attached to the finance ministry, specialists, printing technicians and some stenographers, are imprisoned during the budget preparation process over the secrecy of the budget. These people are unable to talk to their families during this time. If the relatives have to give any very important information to their family members, then they can only send a message to a given number.
Stenographers are the most supervised of all these officers. Stenographer’s computers are away from the servers of National Informatics Center (NIC) to avoid the possibilities of cyber theft. Where all these people are, there is a powerful jammer installed so that calls can be blocked and no information is allowed to leak.
The budget division of the Ministry of Finance first sends circulars to all ministries, departments, states, union territories, defense forces and autonomous bodies. In response, they have to give details of their respective expenditure for the upcoming financial year, details of special projects and requirement of funds. After the arrival of these demands, there are a lot of meetings between the Central Ministries and the Department of Expenditure of the Ministry of Finance.
In the budget formulation process, the Department of Economic Affairs and the Department of Revenue hold pre-budget meetings with representatives of various industries. In these pre-budget consultation meetings, demands and suggestions from various sectors are taken. The final decision on tax proposals is taken with the Finance Minister. Before that the proposals are also discussed with the Prime Minister.
Budget preparation is done in the North Block where top officials of the Finance Ministry, experts, printing technicians and stenographers live in a virtual prison. In the seven days before the preparation of the budget, these people are completely cut off from the outside world. In North Block, these employees of the Ministry of Finance unite day and night in budget preparation.
The security of North Block is very tight at the time of budget preparation. Intelligence Bureau officials headed by the Joint Secretary keep an eye on every activity of the budget-making team. Especially stenographers are monitored the most. In this way, the budget is prepared under very strong security.
The budget speech of the Finance Minister is considered to be the most secure document. That’s why it is handed over to the printers two days before the announcement of the budget. For information, let us tell you that earlier the budget papers were printed inside the Rashtrapati Bhavan, but after the budget of the year 1950 was leaked, the budget started being printed in a press at Minto Road. Since 1980, the budget is being printed in the basement of North Block.
Latest Business News
Photo:FILE BYJU’S RIGHTS ISSUE edutech Platform Byju’s Founder and Chief Executive Officer (CEO) Byju Raveendran said on Wednesday that the company’s $200 million rights issue has been fully filled. Think and Learn Pvt Ltd,...
Photo: CANVA Activate 5G network in iPhone like this All Apple iPhone 12 and above customers will get instant access to the Jio Welcome Offer as soon as they update their software. For those...
Stock Market Closing On 28th December 2022: After two days of strong growth, the Indian stock market declined on Wednesday. After opening with a fall in the morning, the market also showed recovery and...