Govt unveiling budget on Friday

Kathmandu, May 28: Finance Minister Dr Swarnim Wagle is presenting the budget for the upcoming fiscal year, 2083/84 in the joint meeting of federal parliaments tomorrow.

The Rastriya Swanatra Party (RSP) government formed with near two-thirds majority of votes through the March 5 House of Representatives (HoR) election is unveiling the budget in line with the RSP commitment papers and governance reform plan. The 100-point reform agenda released by the present government and priorities and principles of the appropriation bill are the basis of the budget. 

Even the suggestions given by the lawmakers from both Houses and the governance blueprint are taken into account in budget formulation.

Finance Minister Dr Wagle is reading out the budget document in the joint meeting of the House of Representatives (HoR) and the National Assembly (NA) on Friday, Jestha 15 of Nepali calendar. Jestha 15 is the Republic Day. The time for budget launch is set at 4:00pm. 

This time, the government has aimed at making the estimates of income and expenditure more transparent and result-focused.  For the upcoming year, the National Planning Commission had earlier fixed the ceiling of Rs 1890 billion for the budget.

It is said the suggestions from stakeholders are paid heed. The budget for this year, though announced around Rs 1964 billion, was later cut to Rs 1688 billion by then Finance Minister Rameshwor Khanal during the government made following Gen Z movement. 

Jestha 15 is the constitutionally stipulated date for budget presentation since the promulgation of constitution in 2072BS.