May 29: Budget for the upcoming fiscal year (FY) 2023-24 is being presented before the Federal Parliament. Finance Minister Dr Prakash Sharan Mahat is presenting the annual estimates of the government's revenue and expenditure for the upcoming fiscal year before a joint session of the Federal Parliament.    
Prior to this, a meeting of the Council of Ministers endorsed the budget details, granting permission for its presentation in the House.    
With the commencement of the House session, Speaker Devraj Ghimire invited the finance minister to make the budget statement in the parliament.    
The Constitution states that finance minister shall present before the Federal Parliament an estimate of revenues and expenditures under clause (1) on the 15th day of Jeth (May 29) each year.    
In Nepal's history, the first budget speech was held on February 4, 1952 following the restoration of democracy. It was announced by the then Finance Minister Subarna Shumser Rana and its size was equivalent to Rs 52.5 million.  -- RSS