Nepal's Ministry of Finance Intensifies Preparations for Fiscal Year 2083/84 Budget
Summary
Nepal's Ministry of Finance is preparing the fiscal year 2083/84 budget with a focus on abolishing unallocated budgets, cutting old projects, and prioritizing new essential programs amid a public financial crisis.
Key Points
- The Ministry of Finance is intensifying preparations for the fiscal year 2083/84 budget, aiming to abolish the 'unallocated' budget provision from the next fiscal year.
- Finance Minister Dr. Swarnim Wagle emphasized cutting old, low-priority projects to create space for new essential projects in the upcoming budget.
- A five-member committee led by Uttar Kumar Khatri is drafting the budget, focusing on principles like good governance, economic growth, and sustainable development.
- The National Resource Estimation Committee set a budget ceiling of 1.89 trillion rupees for fiscal year 2083/84, with a reduced capital budget allocation compared to the current year.
