KATHMANDU: A Cabinet meeting called by Prime Minister Balendra Shah today officially approved the federal budget for Fiscal Year 2026/27, as confirmed by Government Spokesperson Sasmit Pokharel.

Following the endorsement, Finance Minister Dr. Swarnim Wagle arrived at a joint session of Parliament at 4:00 PM to present the annual estimates of revenue and expenditures.

Breaking long-standing administrative traditions, Dr. Wagle arrived at the Parliament building wearing the national attire (Daura-Suruwal) and carrying the budget documents in a file made of indigenous Nepali paper rather than a leather briefcase.

His secretariat noted that the locally crafted paper was chosen to promote domestic production and emphasize a simple, cost-effective presentation.

According to Dr. Wagle, this transformative budget is designed to institute sustainable economic governance, serving as a five-year launching pad for systematic and structural economic reforms across the country.