Budget Prioritizes Economic Growth Over Popularity: Finance Minister Bishnu Prasad Paudel

Finance Minister Bishnu Prasad Paudel has emphasized that the recently unveiled budget for the fiscal year 2082/83 is designed with the primary objective of stimulating economic growth rather than seeking popularity. He highlighted that the budget is realistic, reform-oriented, and grounded in fiscal discipline, with a focus on effective implementation over populist measures.

The total budget stands at NRs. 19 kharba 64 arba, with NRs. 11 kharba 80 arba (60.1%) allocated for recurrent expenditure, NRs. 4 kharba 89 arba (20.8%) for capital expenditure, and NRs. 3 kharba 75 arba (19.1%) for fiscal management.

Minister Paudel stated that the budget has been prepared to tackle challenges related to limited resources and the need for development, prioritizing increased capital spending and frugality in current expenditure. He also announced that implementation of the budget will begin immediately, without waiting for the start of the new fiscal year, to ensure timely execution of projects and programs.

He expressed confidence that the revenue targets outlined in the budget will be met, and that internal debt estimates remain within the limits set by the National Natural Resources and Fiscal Commission. The budget also aims to foster entrepreneurship, increase public and private investment to create employment, boost economic capacity through modern technology, promote social justice through development and social protection programs, and improve governance and public service delivery.