The process of making the Budget is a top-secret affair. Following the halwa ceremony that kickstarts the printing of the Union Budget, the officials and support staff who are involved in the process of printing the budget, are under a lockdown in the ministry. According to reports, the officials are not allowed to use their phones and remain cut off from their family till the presentation of the Budget.
So far, the high-security measures have yielded positive results as no Budget has leaked - except for once. The Union Budget was leaked in the year 1950 when John Mathai was the finance minister. Till that year the Budget was printed at the Rshtrapati Bhawan. However, following the leak the government moved the printing process to Minto Road. Since 1980, the budget has been printed every year at the North Block basement.
FULL COVERAGE: Union Budget 2020
The Budget-making process is a complex and long-drawn process that involves the Ministry of Finance, Niti Aayog and other ministries. The Budget Division of the Department of Economic Affairs asks the ministries, states, Union Territories , defence forces, autonomous bodies and departments to prepare the estimates for the coming year. After consultations with the Finance Minister the tax proposals are decided. Once the Budget is approved by the Prime Minister, the budget is prepared for printing.
The Budget is prepared by the Finance Minister along with a bunch of high-ranking officers. Along with Nirmala Sitharaman, Finance Secretary Rajiv Kumar, Economic Affairs Secretary Atanu Chakraborty, Expenditure Secretary TV Somanathan, Revenue Secretary Ajay Bhushan Pandey and DIPAM Secretary Tuhin Kanta Pandey were part of the team that made the Union Budget 2020.
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