Ringing in a new era in the Union Budget season of records and firsts

As FM Nirmala Sitharaman presents her ninth straight Budget, the finance ministry marks a new era-shifting the historic exercise from North Block to the modern Kartavya Bhawan

When Finance Minister Nirmala Sitharaman rises to present the Union Budget on February 1, there will be many firsts to remember. It will be the ninth consecutive Budget by any finance minister — a record of sorts. And, it happens to be a Sunday — another first. If these two relate to time, the other first is about place. In a break from the past, this Budget is being made in a brand new building — Kartavya Bhawan — part of the new central vista complex in New Delhi. 

The distance from North Block, which has famously housed the Ministry of Finance (FinMin) for decades on Raisina Hills, to Kartavya Bhawan is just about 2.5 km, but the shift captures a change in era, as officials described the new home for FinMin. 

The hallowed redstone building of North block has been a familiar background for India’s grand annual budget making exercise - carried with utmost confidentiality and almost on a war footing. 

The corridors were sealed, entry was restricted and CISF (Central Indian Security Force) stood on guard as personnel from the Budget printing division headed to the printing press for a complete lockdown that would last at least a week, with no mobile phones or internet. Some officials say that the basement of the North Block, where many would quarantine, could house up to 200 people.  

As the pot of traditional “halwa” is stirred again this year, the quarantine for a fewer number of people would begin, but in a different setting.  

Kartavya Bhawan stands in stark contrast with the domes and columns of Raisina Hills’ architecture. 

The word used by most to describe this new abode is: Modern.  

“Think of any corporate office. That is what the look and feel of the building is,” a FinMin official said.  

The new building may have retained some of the redstone of the old structure; the large glass walls make up most of the exterior, providing a little glimpse into the nerve centre of the Indian economy to the passers-by.  “It is definitely a more modern structure and aligned to the Viksit Bharat vision,” said D K Joshi, chief economist, Crisil. 

All of the pre-budget meetings and consultations have been held in the Kartavya Bhawan.  

A senior industry representative, when he went for a pre-budget meeting sometime back, said systems were still not in place and entry was being done on a physical register. ‘’But these things will settle and evolve in the days to come,” he said.  

The FinMin, housed in Kartavya Bhawan, is following the same modus operandi as it has earlier. A new digital press has been placed in the premises for printing of the budget but the old and much bigger machine continues to stay in the North Block. 

Sources said there is a possibility that this year’s budget may still be printed in the old press and the officials may quarantine there, since setting up of the new machine may get delayed.  

Sitharaman moved into her Kartavya Bhawan office on October 2, in time to get the work on the Budget 2026-27 going.  For officials, the new building has meant more modern infrastructure. From the high tech to simpler amenities such as attached washrooms in the offices of joint secretaries and some others. 

 

“There is more privacy for officials now. It is  required during Budget making,” a former finance ministry official said.  

CISF personnel are positioned outside the office of every official who is involved in the budget making exercise.   

There is, however, a sense of nostalgia about the high ceilings, walking the red carpeted steps leading to FM’s office and the overall grandeur of the older building.   

“One will surely miss the history and heritage of the North Block but India needed much more than that. The move will definitely be an efficiency enhancer, with its larger space, more expertise around you for all the informal discussions,” said Laveesh Bhandari, president and senior fellow, Centre for Social and Economic Progress.  

The new backdrop, for Sitharaman and her A team making the Budget, marks the start of a new era, indeed.