Cabinet clears Union Budget 2025-26

New Delhi: The Union Cabinet headed by Prime Minister Narendra Modi on Saturday approved the Union Budget 2025-26.

Following this, Finance Minister Nirmala Sitharaman will present her eighth record Budget in the Lok Sabha that comes in the backdrop of growth slowing down to four-year-low of 6.4 per cent and clamour for tax relief amid moderation in consumption.

This is the second Budget of the BJP-led NDA government in its third term in office.

Sitharaman had in her first Budget in 2019 replaced the leather briefcase -- which was in use for decades for carrying Budget documents -- with a traditional 'bahi-khata' wrapped in red cloth. Like in the past three years, this year's Budget would also be in paperless form.