Nepal Begins Consultations for Upcoming Fiscal Year Budget Amidst New Government Formation
Summary
Nepal has started consultations with line ministries to formulate the budget for the fiscal year 2083/84 following the formation of the new government. Discussions focus on prioritizing programs within budget ceilings, incorporating governance reforms, and economic analysis to prepare a realistic and implementable budget.
Key Points
- The National Planning Commission and Ministry of Finance have begun discussions with ministries to prepare the fiscal year 2083/84 budget.
- Budget proposals must align with the Medium-Term Expenditure Framework and government policy priorities.
- Economic and financial analyses are underway to assess revenue, expenditure, and economic indicators for budget formulation.
- A Revenue Consultation Committee is studying tax policy, and reports on public enterprises and economic surveys are being prepared.
- The government aims to balance high expectations with limited resources, focusing on governance reform, infrastructure, and productive sector investment.
